(MENAFN - Arab News) United Electronics Company (eXtra) has announced plans to open its first store in Oman. The store in Muscat will be eXtra's first outside of Saudi Arabia.
eXtra aims to become the leader in the consumer electronics and home appliance market which is worth upwards of SR 2.5 billion.
The store is currently under construction in the Bausher region.
The store is part of a newly formed limited liability company, United Electronics Company in Oman.
"eXtra's tremendous success since its formation has been built on being located close to our customers and offering them the widest choice of products at the best prices," said Abdullah Al-Fozan, chairman of the Board, United Electronics Company (eXtra).
"Our expansion strategy has been focused on meeting the local demand in the Saudi market and our planned growth will continue locally as well as regionally," said Al-Fozan.
"Our expansion into Oman marks another major milestone in our long-term strategic growth plans, and brings us another step closer to achieving our goal of becoming one of the region's favorite retailers. These plans include Bahrain and Qatar which will help us gauge the regional market and allow for further expansion into Middle East," said Al-Fozan.
"The opportunities for big box consumer electronics retailers are particularly bright in Oman and this is due to the young and growing population and the purchase power of the consumer and we will strive to achieve our vision of becoming the leading retailer of consumer electronics, appliances and communication solutions in the central region of the world by 2020."
In 2011, eXtra opened outlets in Hafr al Batin, Najran, Damman, Riyadh, Jeddah, Al Kharj, Jubail.
This was followed at the beginning of 2012 with a new store opening in Jizan, bringing eXtra's Kingdom-wide network to 25 stores.