Under the patronage of National Guard Commander Lt. General Shaikh Mohammed bin Isa Al Khalifa, Dr. Hassan Fakhro, Minister of Industry and Commerce, officially opened today the first United Electronics Company (Extra) store in the Kingdom of Bahrain.
Extra is Saudi Arabia's fastest-growing consumer electronics and home appliance retailer and the largest in the Middle East region.
The opening of the company's 30th store in the region, which is located in Tubli, along the Shaikh Isa Highway opposite Adhari Park, was also attended by Shaikh Hamad Bin Mohammed Bin Isa Al Khalifa, Abdullah Al Fozan, Chairman of the Board of Directors of United Electronics Company "Extra" and board member and Chief Executive Officer, Mohamad Galal as well as leading local businessmen
With a consumer electronics market worth an estimated $600m annually, Extra, a publicly listed company, has decided that now is the right time to enter the electronics market in the Kingdom and showcase its unique business model, which is focused on providing a unique shopping experience coupled with the best possible prices and after-sales service.
With a population that has grown by 17.9% over the last four years, according to published statistics, a need in the market for high quality products and services, and its close proximity to Saudi Arabia, the Kingdom of Bahrain is a natural choice for the next stage of Extra's ongoing expansion.
Occupying 14,000 square meters, the new store will employ approximately 200 people. Extra's new store will also be the largest home appliance and consumer electronics retail showroom in the country, offering more than 12,000 world-leading products.
"Following our huge success in Saudi Arabia, we are delighted to transport the Extra brand the short distance across the causeway to the Kingdom of Bahrain," said Abdullah Al Fozan, Chairman of the Board, United Electronics Company (Extra).
"On behalf of the company, I would like to thank the government of Bahrain for its wise leadership, which has created a supportive environment for the business sector in the Kingdom and yielded positive impacts in the wider economy.
"Our new store represents a major investment in Bahrain and will create approximately 200 direct and indirect jobs locally. We also hope to transform the experience of purchasing consumer electronics and home appliances in Bahrain, and look forward to welcoming people in the Kingdom to Extra for the first time."
Mohammad Galal, Chief Executive Officer, United Electronics Company (Extra), said: "As well as being the best electronics retailer, we are also the most ambitious, with a stated vision of becoming the leading retailer of consumer electronics, appliances and communication solutions in the central region of the world by 2020. Today's event in Manama is another major step towards achieving that goal, and will be followed by the launch of our first store in Muscat, Oman, in January 2013."
The new store will be completely wired by Viva Telecommunication Company and will offer free 4G Wi-Fi to all customers, which will allow them to keep in touch with their daily business while enjoying the shopping experience.
MSM publishes Disclosure Guide
The Muscat Securities Market (MSM) has announced the publication of a Disclosure Guide for listed public Joint Stock Companies detailing the legal responsibilities of these companies with regard to d
Technical analysis of the QSE index
After a 3.6% drop through the week, the Qatar Index managed to reduce its losses to only 1.15% versus the week before and it closed at the 10,412.50 level. That created a possible reversing candlesti