Jarir plans to spend up to $200m on expansion
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Jarir plans to spend up to $200m on expansion

Jarir plans to spend up to $200m on expansion

Saudi-based bookstore chain Jarir Marketing Co is planning to expand by at least 70% the number of its stores in the next five years to take advantage of the Gulf region's rapid population growth, Reuters has reported. The kingdom's largest listed retailer plans to spend SR120-150m ($32-40m) a year, or some 20% of retained earnings, on the expansion, said chairman Muhammad al-Agil. "Between Saudi and the GCC, it will allow us to (almost) double our size in the coming five years."

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