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Al‑Futtaim Acquires $667M Stake in Saudi Retail Leader Cenomi Retail

Staff Writer
Staff Writer
Jul. 21, 2025
Al-Futtaim acquires 49.95% of Saudi Arabia’s Cenomi Retail for $667M, boosting regional retail expansion and strengthening UAE-Saudi economic ties.
Dubai’s Al-Futtaim to buy stake in Saudi retail group CenomiAl-Futtaim plans to collaborate with Cenomi Retail’s leadership and board to improve operational performance and elevate customer experiences.

Riyadh, Saudi Arabia - 21 July 2025 - UAE-based conglomerate Al‑Futtaim Group has acquired a 49.95% stake in Cenomi Retail, Saudi Arabia’s largest franchise retailer, for approximately $667 million (SAR 2.5 billion). The deal was priced at SAR 44 per share and involves shares sold by founding stakeholders, including the Alhokair family and Saudi FAS entities.

Strategic Stake and Financial Support

As part of the acquisition, Al-Futtaim will purchase nearly 57.3 million shares, representing just under half of Cenomi’s total capital. In addition, a shareholder loan valued at no less than $347 million (SAR 1.3 billion) is being arranged to reinforce Cenomi’s balance sheet and support its future expansion plans.

Cenomi Retail operates more than 800 stores across eight countries, covering a wide spectrum of segments, including fashion, beauty, sports, and dining. The company holds partnerships with around 47 global brands and employs over 7,000 staff, making it a dominant player in the regional retail landscape.

The acquisition is part of Al‑Futtaim’s broader regional expansion strategy. Highlighting the significance of the deal, Omar Al‑Futtaim, Vice Chairman & CEO of Al‑Futtaim Group, said:

“This investment represents substantial foreign direct investment from the UAE private sector and underscores the robust economic partnership between our countries.” “We see significant opportunities to support Cenomi Retail in enhancing operations, accelerating digital transformation, and expanding its brand portfolio.”

Omar Al Futtaim, vice chairman and chief executive of Al-FuttaimOmar Al Futtaim, vice chairman and chief executive of Al-Futtaim

Growth Outlook and Urban Impact

This transaction positions Al‑Futtaim as a strategic partner to Cenomi, aligned with its ongoing transformation and commercial goals. Once regulatory approvals are secured, the collaboration is expected to drive operational improvements, expand omnichannel capabilities, and elevate Cenomi’s regional brand presence.

From an urban development perspective, this investment signals further growth in Saudi Arabia’s commercial real estate sector, driven by evolving consumer expectations and retail innovation. Enhanced retail infrastructure and mixed-use environments are likely outcomes of this significant capital infusion.