PIZZA chain Shakey’s Pizza Asia Ventures, Inc. (SPAVI) has signed a development agreement with Dubai-based Aljeel Capital LLC for the construction of at least 10 Shakey’s branches in the United Arab Emirates.
Shakey’s told the local bourse late Thursday the stores would be built over a span of five years, with the first store, to be located in Dubai, expected to be fully operational by 2018.
“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,” Shakey’s President and Chief Executive Officer Vic Gregorio told the Philippine Stock Exchange.
This is the second international franchise for the SPAVI, which owns the perpetual rights to the Shakey’s brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia, and Oceania.
Completion of the 10 stores will translate to a total international pipeline of at least 20 outlets over the next few years.
Aljeel Capital CEO Firas Hurieh said their company was excited about the 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.”
Late last year, Shakey’s announced it was set to open 10 stores in Kuwait over the next seven years, with the first store targeted to open in the third quarter of 2017.
We are confident in the success of our new markets and look forward to more partnerships as we continue to build a bigger and better Shakey’s,” Gregorio said.
As of end-March this year, Shakey’s had a total of 189 stores locally.
Known for its thin crust pizza, Shakey’s is recognized globally as the original pizza franchise. In 1975, it opened its first outlet in the Philippines, where it maintains market leadership in both the full service and pizza chain