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Diyar Al Muharraq signs deal with Al Meer on supermarket opening
MANAMA, February 14, 2021 Diyar Al Muharraq, one of the largest real estate development companies in Bahrain, has announced the signing of an agreement with Al Meer Group, a well-known local supermarket chain established since 1952 with many branches across the kingdom. With this deal, Al Muntazah Market will also join an increasing roster of vendors already signed to the Souq Al Baraha project. Located in the centre of the integrated city, the Souq Al Baraha project will add an authentic local feel to the upcoming shopping destination of Diyar Al Muharraq.
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The Bahrain Retail Market was valued USD 5.80 Billion in 2019 and is predicted to grow at a CAGR of 15.62% in the next five years, to reach USD 10 Billion by 2025.
Retail industry in Bahrain has been growing due to rise in the number of malls and retail chain expansions. Malls and supermarkets are increasing helping the customers in buying different types of goods and products for household, baby care, groceries, apparels, etc., all under one roof.
Increasing disposable income and consumer preference towards the retail market is expected to influence the market growth through 2025. Growth of the tourism industry is attracting consumers towards the retail market. For instance, the launch of Bahrain shopping festival attracts many tourists in Bahrain. The success of project like Avenues Mall has influenced the demand for retail infrastructure which are also equipped w