The iconic Canadian coffee chain has chosen the Saudi Arabian capital as a base to grow its Middle East business
Tim Hortons plans to open 42 stores in Saudi Arabia during 2021 | Photo credit: Tim Hortons
Tim Hortons has signed a memorandum of understanding with Saudi Arabia’s Ministry of Investment and the Royal Commission for Riyadh City to establish a new Middle East headquarters in Riyadh, Saudi Arabia.
The Canadian coffee chain currently operates 148 stores across the Gulf Cooperation Council (GCC), its largest market outside of North America and is reportedly seeking expansion across Qatar, the UAE, Bahrain, and Oman, in addition to India and Egypt. The café chain is also targeting 42 new stores in Saudi Arabia during 2021.
“For Tim Hortons, Saudi Arabia has been and will continue to be a key part of our Middle East story, and we see our regional headquarter at King Abdullah Financial District (KAFD) in Riyadh as the perfect hub from where we intend to manage and expand into the broader MENA region and subcontinent,” said Niraj Tikchandani, a member of Tim Hortons’ board of directors.
The announcement comes as Saudi Arabia embarks on an SR3trn ($800bn) programme to double the size of Riyadh over the next decade and promote its capital city as an economic, social, and cultural hub for the region.
Tim Hortons currently operates around more than 4,900 stores globally, of which around more than 4,000 are located in its native Canadian market.