Saudi Arabia: Aldrees seeks to open 1,000 stations over the next 5 years
The company will operate a total of 640 stations by the end of the year and seeks to expand its footprint by amping up its acquisition strategy.
Aldrees Petroleum and Transport Services Co. is targeting to operate 1,000 service stations for the next five years. The fuel retail brand will go from 584 sites operated to 640 by the end of this year and expects to elevate its site acquisitions to 100 to complete its objective.
As stated by the company’s Vice Chairman, Abdulmohsen Aldrees, in an interview with local media Argaam, the brand expects to grow its footprint by accelerating its acquisition strategy. The firm currently holds 7% of the market share in the Saudi region, which adds up to 11,000 service stations in total.
According to the report, 90% of these forecourts are owned by individuals while the remaining 10% are owned by companies. Aldrees specified that his company is focused on the local market after a 69% jump in net profit for H1 2021.
