Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Specialist Retailers
Duty-free Retailers
Return to: RBR Home | Specialist Retailers | Duty-free Retailers

Kharafi Group acquires Syria Duty Free

RBR Staff Writer Published 21 June 2011

The Kharafi Group, a consortium of Kuwaiti investors, recently bought over all the shares of Syria-based Ramak Duty Free Shops. Ramak's portfolio includes Sunset and Dawn and Syria Duty Free stores.

Ramak's network of duty-free shops extend across the land, air and sea ports of entry into Syrian territory. These include the 9,690 sq ft Damascus Duty Free store , a 5,700 sq ft store at Aleppo International airport, a 7,535 sq ft store in Bab El Hawa on the Syrian-Turkish border, two 6,460 sq ft harbour stores at Latakkia and Tartous, and a 119,145 sq ft Dara'a Duty Free store at the Jordanian border. All the outlets offer liquor, tobacco, beauty products, electronics, watches, gold, jewellery, toys, confectionery, and crystal products.

Syria Duty Free reportedly agreed to the acquisition to boost new outlet openings, and develop stronger supplier relationships . The Kharafi Group recently set up the Kiwan Tourist Investment Company to finance and operate the tourism and commercial Kiwan Project in Damascus.