PANDA Retail Company, a major retail company in Saudi Arabia, signed a contract to open a new branch in Quwaieyah governorate.

The opening of the Panda store comes in line with Panda’s expansion plans focusing on the improved performance of the Kingdom’s retail sector and ensuring the sector’s pivotal role in achieving Vision 2030, which aims to raise the contribution of the sector from 50 percent to 80 percent.

The contract was signed between Bander Hamooh as the chief executive officer (CEO) for Panda Retail Co. and Fahad Nasir Al Shathri, chairman of the board of directors, Saudi Investment Company (SICO).

During the signing ceremony, Hamooh said: “This is the first branch in Quwaieyah which comes as part of expansion plan within various parts of the Kingdome.”

He said Quwaieyah is one of the most important areas that “we aim at this period of time and absorb more central markets. The new branch comes within the framework of Panda's attention to all its customers and works to meet their needs. The Panda branch is characterized by an area of more than 3000 square meters.”

Fahad Al-Shathri said: "We are proud of this agreement, which offers a unique addition to Al-Quwaiya as a vital area and a business attraction.”

Al Shathri praised the significant expansion of Panda branches in the Central Region, an important step by the company to serve the people of the region, especially Al Quwaiya, which was in dire need of such services. — SG