Dubai: E-City, the electronics retail arm of Albatha Group, a UAE-based conglomerate, has announced a Dh67 million expansion initiative that the company says is aimed at reinforcing their market presence in the UAE and the GCC region.
In a statement, E-City said that the move demonstrated the company’s “continuing efforts to further consolidate... regional operations.”
The company said that it hoped its consolidation efforts to drive a 20 per cent growth in sales by the end of this year.
According to the firm’s senior executives in a statement, E-City will initially move towards reinforcing its presence in the UAE, starting from the second quarter of 2018.
This effort will reportedly focus on the opening of new stores across the UAE, Saudi Arabia and Oman.
E-City claims that the initiative is also expected to help create job opportunities.
“Positive market forecasts and increased consumer demand has prompted us to roll out this bid for 2018, which is aimed towards making a stronger impact and marking our presence across the GCC region,” said Jaouad Dakir, chief executive of E-City, in a statement.
“We have earmarked an investment of Dh67 million for the expansion efforts. The company will start its expansion in the UAE — specifically in Dubai’s Deira City Centre and three other locations in the UAE,” Dakir added.
