Pancake House to open in Saudi Arabia

Chris Schnabel

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Pancake House to open in Saudi Arabia
Max's Group says it has teamed up with a Saudi Arabian property and mall developer to open 12 Pancake House stores within 5 years

MANILA, Philippines – Max’s Group Incorporated (MGI) will bring its homegrown casual dining chain Pancake House to Saudi Arabia.

In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, January 31, MGI said it has “forged a partnership with Al-Bader National Establishment for Real-Estate Development to open 12 Pancake House stores in Saudi Arabia within the next 5 years.”

“Our international business continues to build on its momentum sustained from last year. We are excited with the prospect of entering a familiar territory this time around with another one of our loved brands,” said MGI president and chief executive officer Robert Trota in a statement.

Trota added that MGI is targeting 20 to 30 new outlets for 2018, mainly across its core brands Max’s Restaurant, Pancake House, and Yellow Cab Pizza. It aims to end the year with around 75 to 80 stores abroad.

MGI’s partner in the Saudi Arabia venture, Al-Bader National Establishment for Real-Estate Development, was founded in 2001 and is based in Jeddah.

The group is primarily engaged in real estate trading, property development, commercial operations of shopping malls, and furnished apartments. It plans to invest in food and tourism to complement its real estate core business.

“We are excited to bring Pancake House to Saudi Arabia. We have been searching for a renowned brand to spearhead our venture into the food sector with the intention to deploy a substantial amount of investment,” said Al-Bader National Establishment for Real-Estate Development CEO Badr Hamdi Hamed Albalawi.

Pancake House operates 7 overseas franchised outlets in Malaysia and the United Arab Emirates. It plans to add at least two more branches in the UAE and open its first store in Qatar in 2018. – Rappler.com

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