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Muwaffaq M Jamal while speaking to journalists in Dubai on Thursday disclosed that the Saudi Arabia based Azizia Hyper Panda anticipates to invest in the UAE close to Dhs. 3 billion in the next three years and also plans to spread its outlets to the Middle East and North Africa (Mena) region. Jamal was speaking to the media on the sideline of the opening of the newly refurbished Hyper Panda supermarket at Festival City in Dubai. He also disclosed that two more outlets will open in Dubai, three to four in Sharjah and two in Ajman between late 2015 and 2016. The company also expects to open outlets in Abu Dhabi between 2016 and 2017. As part of its expansion programme the Saudi based conglomerate also plans to open its outlet in Egypt in due course. It also plans to expand its Saudi Arabia operations, where the company presently has over 250 supermarkets, hypermarkets and convenience stores and by the end of the year expect to have at least 300 stores in total. It has invested Dh3 billion this year in the UAE and plans to invest Dh1-2 billion a year over the next four to five years in new stores and warehouses, and the expansion of its fleet. Its new 400 million Saudi riyal warehouse in Saudi Arabia’s west coast is expected to open in the first half of 2015, and another warehouse in the east coast, with a similar investment, is set to open in 2018. Azizia Panda has a market share of 8.9 per cent in Saudi Arabia, where the market is valued at 142 billion Saudi riyals, Jamal said. Currently, HyperPanda has more than 19,000 employees in UAE and Saudi Arabia. Jamal expects numbers will exceed 27,000 over the period of three years. The investments are not only in opening of new stores but also in infrastructure such as warehouses and fleet expansion. The company has over 400 trucks that are on road running on a 24x7 frequency.