Saudi franchise market valued at SAR 54B: Official
Khalid Al-Ghamdi, Chairman of the National Franchise Committee, said the franchise market in Saudi Arabia is valued at approximately SAR 54 billion, representing 50% of the Middle East market, the state-run SPA reported.
There are more than 1,200 brands and 15 outlets in the local franchise sector, Al-Ghamdi said on the sidelines of the Saudi Franchise Expo held in Riyadh.
He added that the Federation of Saudi Chambers has become the strategic partner of the Saudi Franchise Expo, noting that 437 deals worth over SAR 400 million were signed.
The signed franchise agreements cover 10 regions in the Kingdom, Riyadh, Jeddah, Madinah, Eastern Province, Jazan, Najran, Taif, Qassim, Hail, and Hafar Al-Batin. Internationally, they extend to the UAE, Qatar, Bahrain, and Iraq.
Al-Ghamdi highlighted the committee's efforts to support Saudi brands through enabling financing and addressing sector challenges.
He also noted that the committee is currently working on a plan to introduce 100 Saudi brands to international markets, leveraging the high quality and strong reputation of national products.
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