Chipotle Mexican Grill (NYSE: CMG) announces the opening of its first restaurant in Dubai today in partnership with leading international franchise retail operator Alshaya Group. Located at ‘The Beach’ at Jumeirah Beach Residence (JBR), in partnership with Merex Investment, a joint venture between Dubai Holding and Brookfield Asset Management, this new location marks Chipotle’s first restaurant in the United Arab Emirates, with a second location planned to open in the region at the Dubai Hills Mall in the coming months.
The new Chipotle at JBR is set in a marquee location along the beachside boulevard, spanning over 6,000 square feet, and is open from 10:00am – 12:00am local time on weekdays; and until 1:00am local time on weekends.
In April, Chipotle’s expansion into the Middle East began with a restaurant at The Avenues, Kuwait’s largest shopping mall, which marked the first time the company had entered a new country in over 10 years. Last month, Alshaya Group opened a second Chipotle restaurant in Kuwait, located at The Walk Mall in Ardiya.
“We are thrilled by the overwhelming response to Chipotle’s responsibly sourced, classically-cooked, real ingredients in Kuwait and hope to see similar enthusiasm at our JBR restaurant,” said Chief Business Development Officer Nate Lawton. “Alshaya has been a tremendous partner and continues to ensure our culinary and our purpose to cultivate a better world are clear points of differentiation for consumers as we enter these new regions.”
John Hadden, Chief Executive Officer, Alshaya Group, said: “The early results at the Chipotle restaurants in Kuwait have exceeded our expectations, making it one of the top performing brands in our portfolio, and we are more confident than ever that the fast-casual concept has immense growth potential in the Middle East. We’re excited to open our doors at JBR and start serving Chipotle’s delicious culinary and menu of real ingredients to more guests throughout the Gulf region.”
“We congratulate Alshaya Group and the team behind Chipotle on opening the first restaurant in the United Arab Emirates. We’re certain that the location at The Beach, JBR will be a great success for Chipotle. We have worked with Alshaya Group together for several years and remain invested in their success.” – Shahram Shamsaee, Chief Executive Officer, Merex Investment.
Chipotle’s existing international portfolio of owned and operated restaurants includes 47 locations in Canada; 20 in the United Kingdom; six locations in France; and two in Germany. In North America, the Company currently owns and operates over 3,500 restaurants and is targeting 8 to 10% growth per year for the foreseeable future with at least 80% including a Chipotlane. Chipotle plans to open more than 285 new restaurants this year, with a long-term target of 7,000 locations in North America.
