Saudi Arabia’s Alsulaiman Group will scale up the number of Circle K convenience stores in the kingdom and the wider GCC to 300 within five years, its Group CEO told Zawya at The Retail Summit (TRS) in Dubai.

Saud Alsulaiman said branches of Circle K, which is the second largest convenience store operator globally after 7-Eleven, will be in hospitals, universities, office buildings and gas stations as the brand expands from its current 40 stores.

The Jeddah-based company will also grow the number of IKEA stores it currently operates in the kingdom and in Bahrain to 30 from 10 in the next five years. The group has no plans to compete with Al Futtaim Group for the IKEA franchise in the UAE, he said.

(Reporting by Imogen Lillywhite; editing by Seban Scaria)