eXtra, the leading electronics and home appliance retailer in the Middle East, comes to Bahrain

01/03/2013

• Annual $600 million electronics and home appliance market in Bahrain supported by a population which has grown 17.9% over the last four years, according to latest statistics
• eXtra to continue GCC expansion with opening of first Oman store later this month

Manama, Bahrain; January 3, 2013: Under the patronage of National Guard Commander Lt. General Shaikh Mohammed bin Isa Al Khalifa, and attended by His Highness Hamad ben Mohammed ben Isa Al Khalifa, and Industry and Commerce Minister, Dr. Hassan Fakhro, the first United Electronics Company (eXtra) store in the Kingdom of Bahrain was officially opened today. 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 Eissa Highway opposite Adhari Park, was also attended by the Chairman of eXtra, Abdullah Al Fozan, and the company’s Chief Executive Officer, Mohamad Galal.

With a consumer electronics market worth an estimated $600 million 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 per cent 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 100 people directly, with around half being Bahraini nationals, and another 100 people indirectly. 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 Manama 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.

Usama Bukhari, Expansion Director, United Electronics Company (eXtra): “Customers can also enjoy same day delivery on goods purchased before 6PM; a 30 day, no questions asked, returns policy on undamaged products; and a lowest price guarantee, meaning that if a customer finds a product advertised cheaper, eXtra will pay the difference plus 10% of the difference.”

eXtra was recently named as one of “The Top 200 Companies in the GCC” by Forbes Middle East, and also ranked as one of the Top 5 Services companies in the Kingdom of Saudi Arabia. In both 2010 and 2011, eXtra was cited by the Saudi Arabian General Investment Authority (SAGIA) as one of the Kingdom’s fastest-growing companies. In addition, eXtra was also recently named as one of the Arabia 500 top companies in recognition of its exceptional growth and sustained commercial success.