Numbers —
At a Glance
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95
Stores across several major Saudi Arabian cities and in Bahrain
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5.67 bn
Revenue in 2024 (SAR)
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No. 1
Operator in Makkah and Madinah
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140 bn
Size of grocery retail market in KSA (2022/SAR)
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2
Unique online grocery platforms – Danube online and the BinDawood app
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140,000
Stock keeping units
Chairman’s Statement
Dr. Abdulrazzag BinDawood
2024 was not only a busy and successful year in terms of our overall commercial and operational performance – one in which we clearly showed the resilience of our core businesses – but also one in which we laid the building blocks for sustainable profitable growth. These building blocks comprised diversification of our business and investment in technology to improve operational efficiency and to become more customer centric. I will deal with each of these aspects in the ensuing paragraphs
CEO’s Operating Review
Ahmad A. R. BinDawood
2024 was a transformative year for BinDawood Holding (“the Company” or “BDH”), in that we made two strategic acquisitions that significantly strengthened our market position and we continued to invest heavily in technology, highly encouraged by the results achieved from the earlier investments in this sector. At the same time, we continued to expand our retail footprint through the opening of new stores and new formats.
Key Reasons to Invest
We continue to witness a profound change in the socio-economic dynamics in the Kingdom of Saudi Arabia as a result of sweeping liberating reforms that seek to transform the manner and the speed at which business is done in the country. Consequently, we see a plethora of fresh opportunities emerging – some borne by technology, others through social evolution and yet more by rapidly unfolding economic growth in our home markets.
Customer satisfaction remains the cornerstone of our strategy. Our loyalty programme has deepened engagement with over 5.8 million customers, enabling us to leverage data-driven insights to offer tailored experiences. This, combined with the success of our seasonal campaigns and the rollout of our new Express format, has enabled us to expand our market penetration and strengthen our position as a key player in the grocery retail sector.
Our focus is on operational excellence, customer satisfaction and strategic growth, as demonstrated by our two key acquisitions during 2024 in the Distribution and Pharmaceutical sectors. This ensures that BinDawood Holding is well-positioned to thrive in a dynamic and competitive market full of opportunities. As a business, we feel we are exceptionally well placed to leverage these opportunities – here are the key reasons why.
Strategy & Business Model
At BinDawood Holding, our strategic vision is rooted in a deep commitment to evolution and excellence, as we continue to push the boundaries of the retail industry. With innovation, diversification and an unwavering focus on customer satisfaction, we aim to remain at the forefront of the sector, ensuring long-term value creation for our stakeholders
Our strategic approach is built on four key pillars: agility, customer-centricity, operational excellence, and technological advancement. We are dedicated to evolving alongside emerging trends, responding to market needs and seizing new opportunities for growth.
Our Brands and Acquisitions
BinDawood Holding
BinDawood Holding is a retail conglomerate which integrates information technology solutions into its core operations and strategically acquires companies to enhance its market position, leveraging these investments to fuel sustained long-term growth.
BinDawood Supermarkets
BinDawood is one of Saudi Arabia’s most popular grocery superstore retail brands, with 27 easy-to-access hypermarkets, supermarkets and express stores across the country. An iconic brand in the Kingdom, the customer experience at BinDawood stores is focused on excellent value for money and outstanding customer service.
Danube Supermarkets
The Danube brand is one of the most esteemed high-end grocery retail brands in Saudi Arabia, synonymous with the highest quality product offering and fresh produce, including the widest range of organic and speciality products in the Kingdom.
Zahrat Al Rawdah Pharmacies
During 2024, with the legal formalities being completed in Q1 2025, BDH acquired Zahrat Al Rawdah Pharmacies, a well-known retail pharmacy chain in Saudi Arabia.
Jumairah Trading Company
In Q3 2024, BinDawood Holding acquired Jumairah Trading Company in Saudi Arabia, a business engaged in wholesale, retail and distribution. It conducts its operations through four divisions – luggage, food, toys and households – in each of which it holds internationally acclaimed brands.
Ykone
In 2022, through its wholly owned subsidiary Future Retail for Information Technology Company – a technology and retail solutions investment vehicle – BinDawood Holding acquired a majority stake in Ykone, a profitable international influencer marketing agency with a proprietary technology offering, focused on retail, travel, beauty, fashion and luxury brands, with a presence in Europe, Asia, the US and the Middle East.
International Applications Company
Following the successful acquisition in 2022 of International Applications Company (“IAC”), the developer and operator of BinDawood Holding’s Danube and BinDawood e-commerce channels, the Company is focused on increasing its online sales as a percentage of total revenue.
