JEDDAH: Within the Kingdom’s private sector, the Saudization rate the percentage of workers who are Saudi nationals rose to 22.75 percent in the first quarter of 2021, compared to 20.37 percent during the same period last year.
According to a recent report by the National Labor Observatory (NLO), around 1.84 million Saudi employees have subscribed with the General Organization for Social Insurance (GOSI) in Q1 of 2021.
Around 63 percent of subscribers were males, while 37 percent were females.
The Eastern Province came first with a Saudization rate of 25.7 percent, followed by Riyadh (24.5 percent), Makkah at (21.4 percent), Madinah (19.3 percent), and Asir (17.5 percent).
Saudi Arabia has the lowest dependence on foreign labor among Gulf Cooperation Council countries at around 77 percent, while Qatar has the highest, at about 94 percent, according to data from S&P Ratings.
DUBAI: Fawaz Abdulaziz Alhokair Co. (Alhokair) has signed a franchise agreement with European electronic and entertainment retailer Fnac Darty, with the first store to open in 2022.
The Saudi retail giant also plans to expand its network of Aleph Apple premium reseller and Decathlon sporting goods stores, it said in a stock exchange filing on Tuesday.
The first Fnac Darty in the Kingdom will feature multi-brand consumer electronics, household appliances, books, and other lifestyle products, according to a statement.
“The European retailer’s strategic focus on building a strong customer base with evolving experiences around electronics, multimedia and lifestyle categories, is a major milestone in Alhokair’s journey to become the lifestyle retail partner of choice in Saudi Arabia,” said Alhokair CEO Marwan Moukarzel.
Fnac Darty has 908 international stores and 346 franchises. Last year, the company reported revenue of over $8.9 billion, with online sales accounting for 31 per cent of this.
The deal allows Alhokair to tap into the growing demand for consumer electronics in the kingdom – which is largely driven by increased levels of remote working and online learning amid the pandemic.
Alhokair, listed on the Tadawul Stock Exchange, operates more than 1,800 retail stores across 12 countries. Its portfolio comprises more than 90 international and local brands in fashion, beauty, sports, multimedia, and food and beverage.
“This deal is a great opportunity for our group, for our partner and for future customers,” Enrique Martinez, chief executive of Fnac Darty, said.
DUBAI: Saudi conglomerate Fawaz Abdulaziz Alhokair Co. (Alhokair), one of the Kingdom’s largest retailers, has welcomed a new move by the government to fully Saudize the Kingdom’s shopping malls, creating more jobs in the sector for Saudi workers.
Human Resources and Social Development Minister Ahmed bin Sulaiman Al-Rajhi on Wednesday issued three new labor directives that are set to transform the country’s retail and restaurant sector, creating 51,000 jobs for Saudi men and women.
“We are pleased to see fresh Saudization initiatives for the retail sector. These efforts will create new and exciting opportunities for local talent, driving exposure to new sectors and upskilling a powerful section of the local workforce,” Marwan Moukarzel, CEO of Alhokair, told Arab News.
3 Min Read
DUBAI (Reuters) - Saudi Arabia’s Fawaz Alhokair Group will add more physical retail stores and expand its food and beverage offering this year, betting consumers still want to shop in-store despite the pandemic changing spending habits.
FILE PHOTO: Makkah Mall, one of the shopping malls operated by Arabian Centres, owned by Fawaz Alhokair Group, is pictured in Makkah, Saudi Arabia, April 17, 2019. REUTERS/Waleed Ali
Chief Executive Marwan Moukarzel said on Tuesday people had recently returned to shopping centres in large numbers, sometimes reaching capacity limits under current coronavirus restrictions.
“I am hopeful retail is going to bounce back pretty fast,” he told an online industry conference.