Major Saudi retailers expect better days as Kingdom removes pandemic rules

The government announced last week it will lift social distancing measures in public places, allow double-vaccinated residents to now wear masks

  
People are seen in the Mall of Dhahran, Saudi Arabia, December 17, 2018. Image used for illustrative purpose.

People are seen in the Mall of Dhahran, Saudi Arabia, December 17, 2018. Image used for illustrative purpose.

REUTERS/Hamad I Mohammed
DUBAI: Saudi retail giants BinDawood and Arabian Centers are expecting better days ahead following the government’s easing of pandemic-related restrictions, including allowing establishments to operate at full capacity.

The government announced last week it will lift social distancing measures in public places, allow double-vaccinated residents to now wear masks, and reopen holy sites for full capacity attendance.

These rules will allow retail establishments to double down on efforts to recover from the months-long limited mobility for people, which affected their businesses.

BinDawood Holding will particularly benefit from the new policy because of its presence in Makkah and Madinah.

“While difficult to estimate the size of the impact at present, the ease of social distancing restrictions and the expected return of Umrah pilgrims to Makkah and Madinah is expected to significantly positively impact the Company's financial results next quarter,” it said in a bourse filing.

BinDawood has a total of eight stores in the two holy cities.

Mall operator Arabian Centers also welcomed the new policy, announcing the return to operate with full capacity in all of its sites.

It said the lifting of social distancing measures will “contribute in increasing the number of visitors to the Company’s commercial centers, which will positively affect their occupancy rates.”

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Business