Kingdom key market for Burger King

Updated 07 June 2012

Kingdom key market for Burger King

Continuing the rapid expansion of its restaurant network in the Middle East, the Burger King brand has opened its 65th restaurant in Saudi Arabia, in Riyadh. Located adjacent to Galleria Mall on King Fahd Highway, the new outlet is the largest Burger King restaurant yet in the Kingdom.
The restaurant was officially opened recently by Samer Khawashki, VP of Olayan Financing Company, whose subsidiary Hana International Company Ltd. is the master developer for Burger King restaurants in the MENA region.
Diners at the new restaurant, which accommodates 120-seated guests, can enjoy the world-famous fire-grilled burgers in an elegantly casual ambience.
The brand’s ‘Have It Your Way’ promise ensures that customers at the restaurant can have their meal choices personalized to suit their individual tastes and preferences.
“Saudi Arabia is a key growth market for the Burger King brand in the Gulf — a region where we have managed to expand our presence significantly in recent years. The Kingdom and the wider Gulf region will continue to be a focal point of our investment strategy in the Middle East,” Khawashki said.
The Olayan Group opened the first Burger King restaurant in the Middle East 20 years ago in Riyadh, and has since been steadily adding restaurants and new markets to its portfolio. So far, Hana International has developed more than 270 restaurants in the MENA region, with Olayan directly operating over 170 restaurants across 5 markets, including 65 restaurants in Saudi Arabia and 60 in the UAE.
“North Africa is also high on the agenda of Olayan,” said Khawashki. “There are today 22 Burger King restaurants in Egypt alone and early this year we expanded our operations into Morocco.”
The Burger King brand has emerged as one of the fastest growing Quick Service Restaurant (QSR) chains in the region, added Khawashki.

Gulf defense spending ‘to top $110bn by 2023’

Updated 15 February 2019

Gulf defense spending ‘to top $110bn by 2023’

  • Saudi Arabia and UAE initiatives ‘driving forward industrial defense capabilities’
  • Budgets are increasing as countries pursue modernization of equipment and expansion of their current capabilities

LONDON: Defense spending by Gulf Arab states is expected to rise to more than $110 billion by 2023, driven partly by localized military initiatives by Saudi Arabia and the UAE, a report has found.

Budgets are increasing as countries pursue the modernization of equipment and expansion of their current capabilities, according to a report by analytics firm Jane’s by IHS Markit.

Military expenditure in the Gulf will increase from $82.33 billion in 2013 to an estimated $103.01 billion in 2019, and is forecast to continue trending upward to $110.86 billion in 2023.

“Falling energy revenues between 2014 and 2016 led to some major procurement projects being delayed as governments reigned in budget deficits,” said Charles Forrester, senior defense industry analyst at Jane’s.

“However, defense was generally protected from the worst of the spending cuts due to regional security concerns and budgets are now growing again.”

Major deals in the region have included Eurofighter Typhoon purchases by countries including Saudi Arabia and Kuwait.

Saudi Arabia is also looking to “localize” 50 percent of total government military spending in the Kingdom by 2030, and in 2017 announced the launch of the state-owned military industrial company Saudi Arabia Military Industries.

Forrester said such moves will boost the ability for Gulf countries to start exporting, rather than purely importing defense equipment.

“Within the defense sector, the establishment of Saudi Arabia Military Industries (SAMI) in 2017 and consolidation of the UAE’s defense industrial base through the creation of Emirates Defense Industries Company (EDIC) in 2014 have helped consolidate and drive forward industrial defense capabilities,” he said.

“This has happened as the countries focus on improving the quality of the defense technological work packages they undertake through offset, as well as increasing their ability to begin exporting defense equipment.”

Regional countries are also considering the use of “disruptive technologies” such as artificial intelligence in defense, Forrester said.

Meanwhile, it emerged on Friday that worldwide outlays on weapons and defense rose 1.8 percent to more than $1.67 trillion in 2018.

The US was responsible for almost half that increase, according to “The Military Balance” report released at the Munich Security Conference and quoted by Reuters.

Western powers were concerned about Russia’s upgrades of air bases and air defense systems in Crimea, the report said, but added that “China perhaps represents even more of a challenge, as it introduces yet more advanced military systems and is engaged in a strategy to improve its forces’ ability to operate at distance from the homeland.”