Man'oushe Street is set to open 25 new branches in Riyadh. Man'oushe Street is set to open 25 new branches in Riyadh.

Man’oushe Street, a Middle Eastern eatery serving traditional, home-styled street food, has signed a franchise agreement with the Al Rajhi Group, an international holding investment group in the Kingdom of Saudi Arabia (KSA), to open 25 new branches in Riyadh.

With two branches will open before the end of this year, the agreement is a strategic move as recent industry reports show fast food value sales in the KSA is being predicted to grow at a compounded annual growth rate (CAGR) of 4% in the next five years, peaking at SAR 30.1 billion (US $8.03bn) in 2021.

Recent reports have shown that the KSA's F&B segment is expected to reach US $121 million in revenue for 2017, showing a CAGR of 14.6% in a market volume of US $208 million over the next five years.

“These are truly exciting times for Saudi Arabia’s F&B segment and this new agreement with Man’oushe Street will allow us the opportunity to make our mark in this rapidly growing segment. We are confident that we will be able to retain the mark of excellence that Man’oushe Street has become famous for and something that we also share in common,” said Khalid Abdullah Al Rajhi of Al Rajhi Group, in a statement.

Man’oushe Street CEO and founder Jihad El Eit added: “Over the last few years, Man’oushe Street has positioned itself as a leading player in the region’s fast food industry. This new agreement with the Al Rajhi Group demonstrates our efforts to implement a new roadmap towards further reinforcing and expanding our presence in the Middle East.”

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