Tihama Education Company, a subsidiary of Saudi Arabian public relations and marketing company Tihama Advertising, has inked a memorandum of understanding with Cluster 2 Airports to open 14 retail branches at its premises.
These retail branches will be operated under the WHSmith brand, and Tihama Education Company will lease them for three years.
The agreement aims to expand the range of units operated under the WH Smith brand franchise.
The two parties will establish the value of the contract according to the available spaces and lease fees.
Tihama Advertising representative said: “Tihama Education Company operates retail units at airports under an exclusive franchise for the WHSmith brand, and this memorandum will contribute, in the event of the conclusion of rental agreements for retail units, to the development of the successful partnership existing between Tihama and WHSmith and to expand the range of units operated under WHSmith brand franchise, which also includes retail units at King Abdulaziz International Airport in Jeddah and King Khalid International Airport in Riyadh.”
Cluster 2 Airports manages and operates 22 regional, local and tourist airports in Saudi Arabia, while Tihama Education Company provides educational solutions and services.
The two companies will finalise the contract in the first four weeks of signing the memorandum. After this period, the agreement will be replaced by the contracts and appendices.
In addition, the financial impact of the deal will be disclosed once the two parties have signed the lease agreements.
