Mohammed Abdulaziz Al-Rajhi & Sons Investment Company “Al-Rajhi Investment” and Dividend Gate Capital, established Food District, to invest in the food and beverage sector through the acquisition and establishment of several restaurants throughout the Kingdom, to become a distinct holding company in this field. Khashoggi Holding Company, Al-Saedan Real Estate Company, Abdulrahman Al-Suhaim Real Estate Investment Company, Mohammed bin Ishaq Holding Company, and a group of businessmen from the Kingdom of Saudi Arabia and the Gulf contributed to this establishment. The signing ceremony was held at Voco Hotel in Riyadh.
Marking the occasion, Khaled Al Hammadi, CEO of Dividend Gate Capital, expressed his gladness with the partnership of reputable groups and businessmen who have a long history in the world of business and trade in the Kingdom of Saudi Arabia and the Gulf countries to benefit from their expertise.
He added, “This partnership is in line with Dividend Gate Capital’s strategy to acquire restaurants in the Kingdom of Saudi Arabia; it complements the path of success achieved by the company in the past period by building an integrated team with long experience in the field of hospitality management.” Noting that this partnership will contribute to achieving the Kingdom's 2030 vision.
Al Hammadi added, “Food District will be listed in the Saudi market in the upcoming short period.” Al Hammadi also announced a series of acquisitions in the field of hospitality and restaurants in Saudi Arabia.
The CEO of Al-Rajhi Investment Company, Mr. Mohammed Al-Samman commented “The food and beverage sector is witnessing distinguished returns in light of the great consumption and economic growth witnessed by the Kingdom within the framework of the Kingdom’s vision 2030."He added " The partnership with our investors comes as part of the company’s endeavor to enhance its pioneering role to invest in multiple fields, including contributing to this promising sector and participation in achieving the goals of the Kingdom's Vision 2030.”
About Al-Rajhi Investment Company
Al-Rajhi Investment Company is one of the largest investment companies in the Kingdom of Saudi Arabia and the region since its founding in 1929. It has a distinct and diversified investment portfolio, based on leading industrial subsidiaries in the building materials sectors (Al Rajhi Steel), beverages (Berain) and the tourism sector (Saudi Tourism Development) and durable goods (Al-Jazeera for household appliances), in addition to its investments in the banking and real estate sectors.
About Dividend Gate Capital and Partners
Dividend Gate Capital and Partners is a growth capital company that believes in cash injection for business development and achieving higher results. It is worth noting that DGC is recruiting a highly qualified team that is equipped to manage and operate various businesses in several industries, most notably, the medical and food sectors. During this short period, the company demonstrated the success of the unique approach it followed in managing its companies by encouraging growth in the main economic sectors, which contributed to strengthening its leading position within the markets as well as through its initiative to create strategic partnerships with prestigious institutions.