Saudi-based Savola Group, one of the largest diversified groups in the Middle East, recently announced the UAE launch of HyperPanda, its mammoth 175,000 square foot hypermarket located at Dubai Festival City. Managed and operated by Savola Retail division, HyperPanda boasts an extensive product line, with the largest selection of fresh foods in the UAE and introducing the first healthcare centre concept developed within a hypermarket.
“We are very proud to be here today as this is such a significant step for Savola Retail with the opening of our first regional store outside Saudi Arabia. Savola Group began as an edible oil refinery back in 1979 with a capital of SR 40 Million. Today, it has grown to become one of the largest diversified groups in MENA with a capitalisation of SR3.0 billion, and operating in six high-growth industries in various parts of the region,” said Dr. Abdulraouf Mannaa, CEO, Savola Group.
Dr. Manaa attributes the group’s rapid expansion to impressive growth results from its oil, sugar, packaging and retail operations. “And now, we are in a position to further enhance our growth with our first retail operations in the UAE,” he added.
Echoing Dr. Manaa’s confidence, Dr. Mohammad Amin Kashgari, President, Retail Division, Savola Group sees a two-pronged regional growth plan for Savola’s retail operations. He said, “We are currently the largest nationwide supermarket chain in KSA where we have been recently awarded ‘Best Retail Company’ in the country. We are now looking to expand HyperPanda in the Kingdom from five to twenty Hypermarkets in the next five years. Based on strategic expansion plan that will see our retail operations on a parallel expansion mode internally and regionally.”
HyperPanda’s COO, Retail International, Jean-Marie Teyssedre, expressed confidence about replicating HyperPanda’s success in KSA in the UAE, “HyperPanda has already proved to be a market leader in Saudi Arabia by offering consumers a better alternative in terms of product choices. We studied the market dynamics thoroughly and have adapted our offerings accordingly to fit the needs of UAE consumers and give them an easy and shopping-friendly experience.”
Situated within an exciting retail destination in the heart of the city, HyperPanda finds itself in a very strong position to establish a firm foothold in the highly competitive retail industry of the UAE. “But with value-added features such as the first healthcare centre in a Hypermarket in the UAE, and a strong electronics department, we hope to quickly make an impact,” Teyssedre added.
Phil McArthur, Managing Director – Shopping Centres and Commercial Real Estate, Al Futtaim Group, welcomed HyperPanda’s entry into the UAE and applauded the Savola Group on their decision to establish their first regional venture within Dubai Festival City. “We are delighted to have the region’s most successful hypermarket brand and we see HyperPanda as a strategic partner in Dubai festival City’s goal to deliver world-class retail services to our customers.”
HyperPanda joins other big-box retailers like Plug-Ins ElectroniX 35,000 square foot flagship showroom, the largest ACE Hardware and Garden Centre outside North America, and the UAE’s largest IKEA ‘destination’ store, making the first retail park of it’s kind in the GCC and by far the largest household shopping centre in the UAE.
