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Othaim Investment Company, a leading Saudi company in the development and operation of shopping malls, retail, entertainment, mixed-use and lifestyle projects, has signed a strategic memorandum of understanding (MoU) with MJS Investments to expand its restaurant and café offerings across the Kingdom of Saudi Arabia.
This partnership reflects Othaim vision to invest in efficiencies and enriches the visitor experience, while delivering innovative food and beverage concepts that meet the changing needs of consumers. The agreement also allows for enhanced attractiveness of existing locations, while maintaining the support of existing tenants, and providing additional opportunities to grow their businesses in more dynamic environments.
Under the agreement, MJS Investments will explore opportunities to launch and manage a number of selected restaurant concepts, while Othaim Investments will provide strategic locations and integrated equipment to support launches, including marketing initiatives and destination management to ensure the best experience for visitors and tenants alike.
Mr. Abdulmalik Al-Othaim Investment, Chief Executive Officer of Othaim Investment Company, said: "This partnership represents an important milestone in our ongoing efforts to enhance the shopping and entertainment experience in our various destinations. By collaborating with MJS Investments and incorporating its innovative concepts, we seek to create vibrant lifestyle environments that enhance the visitor experience and maximize the long-term investment value of our assets, while ensuring that our charter partners receive continued support and expand their business opportunities. This initiative is also part of the strategic directions of the Kingdom's Vision 2030 to develop diverse lifestyle destinations."
For his part, Mr. Milad Nasser El-Din, CEO of MJS Investment Group, explained that this collaboration is in line with the company's vision for strategic expansion in various regions of the Kingdom, noting that the goal of the partnership is to expand the company's reach beyond major cities and strategically enter emerging cities, allowing the Group's brands to reach a wider segment of customers and bring its concepts closer to consumers. He added: "With a number of new destinations under development across the Kingdom, this partnership provides a strong platform for us to introduce our concepts to promising markets and growing lifestyle destinations.
Our goal is to ensure that high-quality dining experiences are not limited to metropolises, but are available to a wider segment of communities in Saudi Arabia." This initiative underscores the commitment of both parties to support the growth of the Kingdom's F&B sector, enhance the consumer and tenant experience alike, while introducing innovative concepts that enhance visitor engagement, enhance destination appeal, and contribute to the development of Saudi Arabia's fast-paced retail and hospitality landscape. About
Abdulla Al-Othaim Investment Company Abdullah Al-Othaim Investment Company is one of the leading Saudi companies specialized in the development and management of retail, leisure and mixed-use destinations in various regions of the Kingdom. Through a diversified portfolio that includes shopping malls, family entertainment centers, gaming activities and lifestyle projects, the company is committed to developing vibrant destinations that deliver exceptional experiences for visitors and contribute to economic growth and community development.
About MJS Investment Group MJS Investment Company is one of the fastest growing restaurant development companies in Saudi Arabia, specializing in bringing the most prominent international and local restaurant concepts to the Kingdom of Saudi Arabia.
