Yazeed Al-Rajhi eyes competition with Starbucks, McDonald's

Logo of Yazeed Al-Rajhi

Saudi businessman Yazeed Al-Rajhi said that Half Million aims to become the world’s largest coffee company, competing with Starbucks, while Sign vies with McDonald's.

Al-Rajhi told Rotana Khalejia that where he does not compete with small investors through his companies. He pointed out that the coffee market in Saudi Arabia is large and that there are Saudi-owned companies stronger than global brands in the Kingdom.

Regarding the possibility of offering the shares of Half Million in the stock market soon, Al-Rajhi confirmed that his brother Abdullah has a plan for this.

Al-Rajhi also emphasized that Berain is completely independent from Fayha, with separate factories and production lines. Each company has a significant market share. He also mentioned that they own a third company Ojen Water.

Speaking about the difference between Mohammed Abdulaziz Al-Rajhi & Sons Investment Co. and Yazeed Alrajhi & Brothers Holding Co., the Saudi businessman explained that the first is owned by the family, while the second belongs to him and his brother Abdullah, and five of their sisters. He also noted that he serves as the Chairman of both companies, which operate based on mutual trust among the siblings.

Al-Rajhi added that preserving wealth today is very challenging. He revealed that his fortune has multiplied tenfold over the past decade and that the value of his company has reached SAR 30 billion.

Elsewhere, he said that he hopes for a decline in real estate prices because it would benefit everyone, and stimulate the market.

He mentioned that Details Real Estate Co. aims to inject investments ranging between SAR 7 and SAR 10 billion over the next five years to provide 5,000-10,000 residential units for ownership. Meanwhile, Haseef Company plans to invest SAR 4 billion, with the potential for an increase, in rental housing projects over the same period.

Regarding Al-Rajhi Group’s exit from National Gypsum Co. (NGC) in 2014, the Saudi businessman elaborated that the decision was related to the company's management. They asked the company to appoint a CEO with specific qualifications and expertise in the field, offering to cover the cost, while leaving the final choice to National Gypsum. However, the company declined. As a result, we decided to exit our 34.5% stake.

Headquartered in Riyadh, Yazeed Alrajhi & Brothers Holding was founded in 2010. It operates in several sectors, including investment, real estate development, contracting and construction, as well as food and beverages.