MAF Ventures, Daud Arabian enter JV
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Daud Arabian and Majid Al Futtaim (MAF) Ventures announce a joint venture agreement covering their mutual investments in Gourmet Gulf Company in the Middle East.
The partnership marks a first entry into the Middle East food and beverage market for Majid Al Futtaim Ventures. Gourmet Gulf currently operates 25 food and beverage outlets across the Gulf.
“This partnership enables Gourmet Gulf to scale our operations and propel our expansion,” said Sami Daud, CEO, Gourmet Gulf.
Operating from its headquarters in Dubai, Gourmet Gulf is scheduled to open over 10 restaurants in the next six months. Sami Daud said: “Our objective is to have well over 100 outlets in operation by 2020, a goal that we are well on our way to achieving. In addition to the opening of new outlets of our existing franchise brands, we are also in the final stages of signing a number of new concepts for the region which will launch very early next year.”
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