Wednesday 27 May 2020

Jarir Bookstore to open branch in Bahrain

MANAMA, April 21, 2019

Jarir Bookstore, one the largest retail stores in the GCC, announced that it will open its first branch in Bahrain.

The new branch will anchor a project now under construction by First Bahrain Real Estate Development Company (First Bahrain) in Seef District.

Jarir COO Nassir Al Ageel noted Seef District as the best location for their new branch, due to its attractive investment environment. He added: “The area is considered to be the prime tourism and commercial destination for residents and tourists in the kingdom, and we believe this showroom will contribute to the overall sales growth of Jarir, which will reflect positively on our shareholders.”

Al Ageel indicated that the amount of investment in this showroom is around $10 million (BD4 million), and it should contribute to providing many job opportunities in the kingdom. The project is set to be open by next year.

He added that the new showroom will be the ultimate destination for the lovers of latest technology gadgets and books, as it will offer a very wide range of office supplies, school supplies, English and Arabic books, arts and crafts, smartphone and laptops and their accessories, and video games.

The new Jarir Bookstore will be integrated into a larger commercial development featuring over 79,000-sq-ft of premium retail space, built on 114,000 sq ft of land. The total project value will be around $36.7 million (approximately BD14 million).

In addition to Jarir, the retail complex will feature a mix of cafes, restaurants, entertainment, and retail shops that will offer a unique experience through a mix of drive up and drive thru outlets featuring terraced views and outdoor seating.

“Following an extended exploration phase, we are incredibly pleased to have concluded an agreement which will facilitate the entry of Jarir Bookstore to the Bahrain market with their first location being built on our property in Seef,” stated Omar Altemiemy, chief executive officer of First Bahrain.

“We are honoured to be working with such a well-established and highly esteemed regional brand. We are positive this project will be a destination for many and will provide much needed choice, variety and opportunity in the local market for personal electronics, stationery and books.”

The Bahrain Economic Development Board (EDB) has supported Jarir throughout its set-up process.

Husain Rajab, executive director of Business Development - Tourism, Education and Healthcare, said: “As one of the leading companies in The Kingdom of Saudi Arabia, the launch of Jarir Bookstore in Bahrain will enhance the retail experience and help meet growing customer demands.

“This announcement comes as a reflection of the longstanding strategic relationship between the two kingdoms, and the interest of Saudi and Gulf investors in expanding into Bahrain due to its growth in vital economic sectors, and the many competitive advantages the Bahraini business environment offers." – TradeArabia News Service


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