Alkhabeer Capital acquires majority stake in Alajaji Group

Updated 28 September 2014

Alkhabeer Capital acquires majority stake in Alajaji Group

Alkhabeer Capital, a major asset management and investment firm based in Saudi Arabia, and authorized by the Capital Market Authority, has announced that as part of its SME private equity strategy, it has acquired a majority stake in Dr. Omar Suliman Al-Ajaji Medical Company (Alajaji Group).
Founded in 1995 by Dr. Omar Al-Ajaji and headquartered in Riyadh, Saudi Arabia, the Al-Ajaji Group owns and operates four polyclinics and five pharmacies in the capital. The company has grown steadily since its foundation, providing health care services primarily to resident expatriates in the Kingdom.
Alkhabeer Private Equity aims to build a successful partnership with Dr. Omar Al-Ajaji and to support the growth of the company by opening additional polyclinics and diversifying the offering of treatments and specialties at the existing facilities.
Ahmed S. Ghouth, Alkhabeer Capital's deputy CEO, said: “As Alkhabeer continues to expand its focus on new investment strategies in the region, I am excited about our partnership with Dr. Omar Al-Ajaji and confident that we can contribute to the continued development of Al-Ajaji Group as it grows its reputation as one of the leading polyclinic operators in the Kingdom”.
Dr. Omar Al-Ajaji, Al-Ajaji Medical Company CEO, commented: “This partnership with Alkhabeer Capital represents a critical milestone in the evolution of Al-Ajaji Group and supports our goal of becoming one of the leading polyclinic brands in our target market.
The resident expatriates market represents significant growth potential. Its population is expected to grow by 5.6 percent annually over the next five years, and we are uniquely placed to benefit from this growth.”

LuLu Group announces SAR1 billion expansion plans

Updated 14 October 2019

LuLu Group announces SAR1 billion expansion plans

  • Group also launched SAR1 million 10th anniversary promotion

RIYADH: LuLu Hypermarkets, one of the largest retailers in the region, is upbeat about the investment climate of KSA and is planning to expand in the coming years.

Talking to media during the group’s 10th anniversary celebrations held at Atayaf Mall in Riyadh, chairman M. A. Yusuff Ali unveiled LuLu Group’s plans.

Saad Al-Gamdi, Head of Saudization Programme (Tawteen) at the Ministry of Labour, along with Yusuf Ali, Chairman of LuLu Group, officially inaugurated the anniversary celebrations in the presence of senior officials and a large number of shoppers. 

Elaborating on LuLu Group’s journey so far, Yusuf Ali said: “With a modest beginning in the 2009, today we have 17 hypermarkets, 12 Aramco commissaries and National Guard supermarkets which is a testimony to our acceptance in the country, thanks to our fair pricing and highest quality product range.

“We see tremendous growth opportunity in the Kingdom. We have already announced that by year 2020, we will open 15 new hypermarkets in Saudi Arabia. Under this plan, 3 hypermarkets have already been opened and another 11 hypermarkets will be completed before end of 2020 at an investment of SAR1 billion ($266.6 million).

“This includes 4 in Dammam, 6 in Jeddah and 1 in Riyadh. This is apart from the SR1.7 billion that we have already invested in the Kingdom until now.”

During the occasion, LuLu also honored 10 long serving Saudi nationals with gold medals and certificates who were all part of LuLu’s growth story in the Kingdom.

Congratulating the Saudi staff, Yusuf Ali said: “We consider it our duty to nurture them as we have a very hardworking, dedicated and productive manpower among Saudi nationals.

“LuLu Group currently employs 2,700 Saudi nationals including 700 women in their various hypermarkets across the Kingdom. Out of the total Saudi work force employed in our group, half of them are from small town like Hail, Tabuk, Hassa and Jubail.

“Our goal is to give employment to more than 4,000 nationals by the end of 2020 out of which 1,700 will be women,

He added that his group gives priority in generating jobs for young Saudis, especially women. “I think it is the duty of all businessmen and investors to create more jobs for local youth.

“We also take this opportunity to extend our gratitude to King Salman, Crown Prince Mohammed Bin Salman and the government who have always given tremendous support to investments and economic development which ultimately generate more employment opportunities for Saudi citizens.”

To mark the occasion of 10th anniversary, LuLu announced the launch of LuLu-Win One Million Riyal promotion which will run for 10 weeks and 10 lucky winners will each get SAR100,000 cash prize.