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RAK Holding to launch own grocery chain
RAK Holding, the Ras al Khaimah-based holding company, has unveiled plans to open its own grocery retail chain with a store within 500 metres of nearly every home in the UAE.
Company officials said the chain, called Near Buy, would represent an investment of Dh100 million (US$27.2m).
The company intends to set up as many as 500 stores by early next year, in some cases creating partnerships with existing grocery stores that may be in need of financial assistance. Hundreds of stores are projected for coming years, with an estimated 2,000 stores needed to reach nearly every neighbourhood in the country.
Near Buy will have a website where customers can shop for their groceries without leaving home. The company also plans to set up a toll-free hotline and SMS service for shopping and ¬deliveries.
