Manama: Dividend Gate Capital and partners recently announced a new strategy of acquiring restaurants in the Kingdom of Saudi Arabia, underscoring the importance of the food and beverage industry and its vital role in enhancing tourism.
The food and beverage industry is thriving in the Gulf with new restaurants opening monthly, which in return attracts global and local investments from both citizens and residents who are interested in setting their foot in trade and commerce. The group is looking at achieving returns of no less than 40% per annum, according to studies, while some of the underlying entities are scheduled to be listed for IPO within the next fifteen months.
Marking the occasion, Khaled Al Hammadi, CEO of Dividend Gate Capital underlined that “The food and beverage industry is a promising and defensive one due to population growth over time, whereas new local restaurants and international franchises are opening every year, thus resulting in increasing challenges.”
He added, “In light of the success achieved by DGC and partners over the last period in managing restaurants and buying into operational business in the sector, we have decided to venture into the food and beverage industry in the Kingdom of Saudi Arabia and lay our foundations in Riyadh where an office was opened to acquire restaurants in Saudi.”