“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 and eXtra is eyeing to capture $200million to $250 million,” Mohammad Galal, Chief Executive Officer, United Electronics Company (eXtra) told a Press conference following the opening of SR28million its maiden store in Tubli area.
Under the patronage of National Guard Commander Lt. General Shaikh Mohammed bin Isa Al Khalifa, Dr. Hassan Fakhro, Minister of Industry and Commerce, officially opened the first United Electronics Company (eXtra) store in the Kingdom of Bahrain. 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, located in Tubli, along the Shaikh Isa Highway opposite Adhari Park, was also attended by Shaikh Hamad Bin Mohammed Bin Isa Al Khalifa, Abdullah Al Fozan, Chairman of the Board of Directors of United Electronics Company “eXtra” and board member and Chief Executive Officer, Mohamad Galal as well as leading local businessmen.
The opening ceremony was attended by a number of businessmen and businesswomen and Ministry’s officials, where they were briefed on the display centre and various electronics devices to meet consumer’s requirements.
“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,” Mohammad Galal, added.
Occupying 14,000 square meters, the new store employ 100 direct employees, out of that 50% are Bahrainis, is also offering approximately 200 indirect job opportunities. 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,” Abdullah Al Fozan, Chairman of the Board, United Electronics Company (eXtra), said.
“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.”
Abdulla Al Fozan praised government for hosting all commercial activities and provides all aspects of support required for investors in Bahrain, valuing in this regard ministry ‘s tireless effort that benefit nation and citizens.
The new 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.
“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,” Usama Bukhari, Expansion Director, United Electronics Company (eXtra), said.
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.
The minister expressed government praised of initiatives and positives steps undertake by leading companies in Bahrain that aimed to enhance commercial activity in the country and expand investment circle, as well as diversifying goods for consumers from various global sources. The minister noted in this regard that the commercial complex such as “eXtra” presents today a new option for consumers to choose from many kinds of products.
Dr. Fakhro said government’s support to all steps and economic initiatives that will enhance Bahrain’s economic and consolidate the good reputation of the Kingdom, expressing in this context ministry readiness to provide all possible facilities.