Qatar Investment Authority owned real estate investment company Qatari Diar has tied up with Qatar-based Ariane Holding Group to introduce British supermarket chain, Sainsbury’s into the country.
The agreement which was signed amid the presence of senior officials from both sides including Mr. Yousef Abu Bakr Al-Musleh, Chief Development and Asset Management Officer, Qatari Diar and Mr. Mohamed Hussein Al Ali, Group CEO, Ariane Holding Group will result in Sainsbury’s opening up its first branch at Lusail City in the first quarter of 2022.
Earlier, Marakez Trading, a part of Ariane Holding Group had signed an exclusive distribution agreement with Sainsbury’s to be the main distributor for its products in the Middle East and North Africa (MENA) in 2019.
Greater acceptance and increase in demand for products made the company to expand the base of operations by opening its own branches for the Sainsbury’s chain in Qatar. The new branch Lusail City will give consumers access to the widest range of Sainsbury’s products and will provide a wide variety of products from the UK and around the world.
In its statement to the press, the company stated that they have “chosen Lusail City to establish its first branch in Qatar due to the strategic importance of the city and its many features, whether in terms of infrastructure or services, in addition to being the future city of the State of Qatar.”
J Sainsbury PLC
J Sainsbury PLC which trades under the name Sainsbury’s is the second-largest chain of supermarkets in the United Kingdom, with a 16.0 percent share of the supermarket sector.
Founded in 1869, by John James Sainsbury with a shop in Drury Lane, London, Sainsbury’s company became the largest retailer of groceries in 1922.