Zahid Trading & Real Estate Co., Ltd., (ZAHID TREC) was founded by Fahad Y. Zahid in 1993, with an initial registered capital of $5,000,000, to take part in the rapidly expanding consumer market and to develop real estate properties in Saudi Arabia.
ZAHID TREC’s aim is to focus on wholesale and retail trading and on the development and management of commercial and residential properties. The company is dealing with material to complement and support its real estate development and with items to meet the specific needs of the community.
Early in 1997, ZAHID TREC was appointed an operator for United Colors of Benetton and developed a series of “Megastores”, in which it manages and operates the retailing of the full range of Benetton products in large (up to 1300 square meters [13,000 sq. ft.]) retail outlets. Today, the company is considered the world’s largest Benetton Megastore operator with four Megastores operating in each of Jeddah, Riyadh and Khobar, in addition to several smaller stores.
In December 1999 the company acquired the Reebok franchise in Saudi Arabia. The acquisition included six retail outlets located in all the three major metropolitan cities. It also opened four other stores in different prime locations, one of them in Riyadh’s tallest and most prestigious commercial building, Al-Faisaliyah Shopping Center in June 2000.
In the 3rd quarter of 2000, ZAHID TREC developed a new retail concept called “LIFESTYLEZ”, which is in line with the expanding young market . The need for such a store has become essential, monitoring the growth of the young population of Saudi Arabia, as the demographics show that 70% of the population is under the age of 35. This concept caters for the age group 9 – 45, with an emphasis on the 15 – 25 age group. Several renowned brands are associated with this retail concept such as Sean John, Quiksilver, Oakley, Ecko, Reebok, Akademiks, Gas Jeans, Speedo, Europann, HOM and Evita Peroni. Three superstores are currently in operation; the flagship store is located at La Promenade II in jeddah.
Additionally, “LIFESTYLEZ ACCESSORIES” concept was followed to cater for another target market, offering exclusive Italian brands of shoes, bags and accessories.
Zahid TREC also introduced “MALHAS” prêt-à-porter line of the renowned designer “Rushdi Malhas, presenting the supporting line for the exclusive Haute Couture line.
In the food business, ZAHID TREC developed La Promenade Café concept, and the first was opened in La Promenade II center in May 2003, followed by another in Khobar.
SportsLook is our latest concept which was developed in Oct. 2005 to cater for to the athletic market it is a multibrand store and carries a range of athletic brand such as Nike, Addidas, Puma, New Balance,Lotto, Umbro, Reebok and Kwon.
Though ZAHID TREC is currently in negotiation for additional franchises as well, it is not the aim of the company to acquire as many products and/or agencies as possible but to select leading companies from North America, Europe and the Far-East, whose goals are long term and whose standards aim for quality, leadership and excellence.
ZAHID TREC has been able to acquire prime residential and commercial properties, during the past few years. The company’s plans include developing these properties in order to address the needs of the more affluent and highly educated Saudi market segment.
Other projects that have been developed, include La Promenade I Commercial Center a $2,500,000 shopping center on Tahlia Street, which is one of the most prestigious boulevards in Jeddah. This project was inaugurated in February 1998. It includes a retail showroom area of 1520 sq. m. for the Benetton Megastore, Sisley & Diesel. It also houses the new headquarters of the company.
La Promenade-III has been constructed on a prime commercial site on Dhahran Road in Khobar. La Promenade III houses our fourth Benetton Megastore, in Saudi Arabia, with a showroom retail space of 780 sq. m., La Promenade Café and Lifestylez retail concept as well as two floors for other showrooms and commercial offices.
La Promedande-II, a $5,500,000 Commercial Center on 6227 sq. m. of land was developed in May 2003. It has 4200 sq. m. of showroom retail outlets, and an underground parking space for 119 cars.
Another retail theme center is on the drawing board, on Madina Road in Jeddah, with an estimated investment value of $ 12,000,000.
As an adjunct to our real estate development activities, the company offers a full fledged landscape consultancy department managed by a landscape architect. ZAHID TREC Landscape Design & Engineering offers a complete range of design, maintenance and project management services for projects of any size or dimension.
The goal of ZAHID TREC is to provide products and services, based on value, to the consumer market, and to develop and manage properties to ensure the highest standard of living with complete and comprehensive services and support, in Saudi Arabia.