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FINANCIAL NEWS
India’s Malabar Gold to invest USD108.86m in GCC expansion
16 Sep 2015
(MENAFN) Malabar Gold and Diamonds announced plans to open 21 retail stores across the GCC, India and the Far East in the next six months, with an investment amounting to USD125 million.
Of the total, Malabar is investing USD60.7 million in eight stores in the UAE, USD27.21 million in five in Saudi, USD15.51 million in three in Oman and USD5.44 million in one in Malaysia.
In addition to these investments, the gold and diamond retailers giant said that it will add four more outlets in India with an investment amounting to USD16.33 million.
The expansion will see the gold and diamond jewelry retailer expand its retail network from 134 to 155 reinforcing its position as the most preferred jeweler in the world.
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