Asia Express to spread wings in Oman

Muscat: The leading Oman-based exchange house Asia Express Exchange is all set to fuel further growth in the financial sector of remittance and payment solution providing market in the Sultanate.

The prominent Gulf-based businessman Yousuf Ali M.A., who operates the Lulu hypermarket chain in the UAE and Oman, has taken a stake in the 1996 established Asia Express and plans to invest and expand further in Oman.

Currently, Asia Express has seven branches in Oman and with the new management in place, it plans to expand the network to serve larger market.

"Oman is the least affected country in the economic slowdown period and we will continue to expand by opening new branches of Asia Express Exchange here," said YousuffAli.

Lulu Group which currently operates eight hypermarkets in Oman has plans to open six more new hypermarkets in the near future. "Oman is not a city centric market and we intend to take our stores to different wilayats to be as close to the shoppers as possible rather than make them come to major cities to shop," he said.