Shakey’s to open 10 stores in UAE

Shakey’s Pizza Asia Ventures, Inc. (PIZZA), the Philippines’ largest operator of chained full-service restaurants, is expanding its reach in the Middle East through an agreement to open new stores in the United Arab Emirates (UAE).

In a disclosure to the Philippine Stock Exchange, the firm said subsidiary Shakey’s Pizza Regional Foods Limited, recently signed an area development agreement with Aljeel Capital LLC, a Dubai-based group.

Under the agreement, Aljeel will build at least 10 Shakey’s Pizza outlets in the UAE over a span of 5 years. The first store, to be located in Dubai, is scheduled for opening in the first half of 2018.

Aljeel Capital LLC (AJC) is a private institutional investment house focused on consumer defensive driven sectors across the MENA region, particularly on the GCC Market.

This is the second international franchise for the Company which owns the perpetual rights to the Shakey's brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia, and Oceania.

This also translates to a total international pipeline of at least 20 outlets over the next few years. In December 2016, PIZZA signed an agreement to open at least 10 Shakey’s stores in Kuwait.

“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,” said Mr. PIZZA President Vic Gregorio.

Aljeel Capital Chief Executive Officer Firas Hurieh said “we are excited about this 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.”

As of end March 2017, PIZZA had a total of 189 stores locally. The store in Kuwait will be the Company’s first outlet outside of the Philippines and is on track to open in the third quarter of 2017.

“We are excited to bring Shakey’s and its ‘Fun, Family, Pizza’ positioning to other countries in our part of the globe. 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,” said Gregorio.