Riyadh – Mubasher: Jarir Marketing Company (Jarir Bookstores) opened a new showroom in Al Ruwais District in Jeddah on 21 February, with a total investment cost of SAR 115 million.
The new branch marks the first Jarir unit to be inaugurated in 2022, while being the 60th domestic book outlet and the 68th inside and outside the kingdom, according to a bourse filing.
Spanning over 4,324 square metres, the new showroom includes a leasable area of 14,478 square metres. Jarir noted that 74% of the total workforce of the new branch are Saudis.
The financial impact of the new establishment will reflect on the income statements in the first quarter (Q1) of 2022.
It is worth noting that in 2021, Jarir Bookstores's net profits after Zakat and tax reached SAR 991.90 million, down 1.1% from SAR 1 billion in 2020.
