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Meituan to bring delivery service KeeTa to Riyadh following its CEO’s take over of overseas business
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TechNode
China’s food delivery giant Meituan is hiring Arabic- and English-proficient talent for its likely entry into Riyadh, the capital of Saudi Arabia, as the company puts expansion beyond China on its agenda as domestic consumption falls.
Meituan is set to launch KeeTa, the food delivery brand which it launched in Hong Kong last year, in its first Middle East destination in the coming months, Bloomberg reported on Friday.
“We will be evaluating very carefully the opportunities for that and the ways to get into the market,” he added.
Meituan expects to compete directly with well-established platforms such as Delivery Hero, Deliveroo, and Jahez in the Middle Eastern country, where the online food delivery market is projected to grow at 5.62% annually, data from Statista shows.
Context: After recording its lowest stock price in a year in February, at slightly over HK$60, Meituan’s shares are slowly recovering.
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