BurgerFuel lands in Dubai

Fast food operator BurgerFuel said today its hamburgers would be available in Dubai by year's end, following the signing of a master franchise agreement between BurgerFuel Worldwide and Dubai based Alphamed Group.

Alphamed is a subsidiary of holding company the Al Khayyat Investment Group. It has a diverse range of investments, ranging from the automotive sectors to real estate.

As a master franchisee, the Alphamed Group will operate all BurgerFuel stores in the UAE, funding all store construction and operational costs.

The agreement was a significant first step in the company's expansion beyond Australasia, said BurgerFuel executive director Josef Roberts.

BurgerFuel had targeted Dubai because of the city's rapid economic development, high profile and proximity to other countries, Roberts said.

"Dubai is all about energy, activity and growth. The city is like a permanent international trade exhibition, which makes it the perfect springboard for us to expand beyond Australasia," Roberts added.

BurgerFuel's share price remained unchanged at 45 cents.

Since listing on the NZAX in 2007, the shares have traded between the $1 listing price and 32 cents.

BurgerFuel has opened seven stores in the last year, with two more due soon. That will make a total of 25 stores in New Zealand and two in Sydney.  

- © Fairfax NZ News