Riyadh – Mubasher: United Electronics Company (eXtra) has inaugurated its fifth branch in Jeddah on 31 December 2018, thereby raising the total number of its stores to 44 in the GCC region.
Spreading over a selling area of 1,570 square metres, the new store has a total investment amounting to SAR 11 million ($2.93 million), eXtra said in a statement to the Saudi Stock Exchange (Tadawul) on Monday.
eXtra’s expansion strategy includes opening new stores or developing the e-commerce platform aims at being closer to customers, said eXtra CEO Mohamed Galal.
The financial impact of the new branch is expected to be seen in the company’s results starting from in Q1-19, he added.
By 11:32 am Saudi time, eXtra’s gained 0.47% to SAR 64.30 per share on Tadawul.
