Shakey’s Pizza Asia Ventures Inc. (SPAVI), a leading pizza parlor operator, is set to open at least 10 stores in the UAE over a five year period.
This was disclosed to the Philippine Stocks Exchange Thursday after the company, through its subsidiary Shakey’s Pizza Regional Foods, recently signed an area development agreement with a Dubai-based institutional investment house Aljeel Capital LLC.
SPAVI said the first store in UAE would be in Dubai, which is set to be operational by first half next year. The first UAE store will be the second international franchise of Shakey’s.
“Dubai, UAE, and the rest of the Middle East are great markets for us. Not only are there strong and welcoming Filipino communities which love the Shakey’s brand and are excited about experiencing it away from home, but there are also tremendous growth opportunities within the mainstream markets there,” SPAVI President and CEO Vic Gregorio said.
“We are excited about this partnership and more thrilled to bring a solid brand such as Shakey’s to the UAE as there is a huge opportunity to target a wide customer base and grow the brand in the next few years,” Aljeel Capital CEO Firas Hurieh, on the other hand, noted.
SPAVI has 189 stores in the Philippines as of end-March 2017.
Its first outlet outside the Philippines is expected to be opened in Kuwait by third quarter of this year.
(Report via PNA)
