The concession is worth $1.3 billion
According to Saleh Abdullah Lootah, chief executive officer of Al Islami Foods, “The synergy with strong distributors such as the Arabian Trading Supplies will consolidate company’s efforts in developing the GCC’s halal food market and taking the Al Islami benchmark to the international arena, as part of our regional and global expansion plan.”
Saudi Arabia, with the population of 28 million, remains the largest market for food & beverage in the Gulf region as it represents 63 per cent of the $9 billion GCC food market.
The initial consignment of Co-op Islami products of frozen chicken and chicken parts has already been sent and distributed in Saudi Arabia and received a highly welcome response from the Saudi consumer market.
The Global Halal Food Market report of 2007, published by the Agriculture and Agri-Food Canada estimates the food market in the GCC region is worth $ 9 billion (Dh330 billion) where Saudi Arabia’s share is 63 per cent ($5.6 billion). Al Islami will cater to 28 million Saudi population with a range of premium products such as processed meat, frozen seafood with Al Islami’s unique selling proposition of real halal, which is hand slaughtered without stunning according to Islamic Shariah’. To ensure a seamless halal process, Al Islami deploys its representatives at source.
In 2009, Al Islami is preparing to consolidate its presence in Qatar, Bahrain, Kuwait, Oman, Iraq, Iran, Yemen, Syria, Jordan and Sudan markets.
The concession is worth $1.3 billion
Disney and DirecTV reach new licensing agreement
YPO UAE hosts exclusive event with Feroc Luxury at Dubai Opera
The advanced air mobility devices are powered by electric motors, aligning with UAE's sustainability goals and reducing carbon footprint
Considerations are at an early stage and Blackstone may still decide against pursuing a deal, a report said
The total number of Chinese visitors to the UAE stood at around 1.2 million in 2023
Companies had select sellers which hurt smaller players, reports find
The CBUAE explained that banks' capital and reserves do not include subordinated borrowings/deposits, but do include the current year's profits