Shatirah House Restaurants (Burgerizzr) secures CMA approval for 60% capital increase to fuel expansion, market growth

SAUDI ARABIA – Shatirah House Restaurants, the owner and operator of Burgerizzr, Saudi Arabia’s largest fresh burger chain, has obtained approval from the Capital Market Authority (CMA) to boost its capital by 60%. 

This capital hike includes issuing 21 million new shares, granting existing shareholders three bonus shares for every five they own.

The move will increase the company’s capital from SAR 35 million (US$9.35 million) to SAR 56 million (US$14.95 million).

An extraordinary general assembly will be convened to finalize the capital adjustment.

Founded in Riyadh in 2009, Burgerizzr has rapidly expanded to become a leading player in Saudi Arabia’s fast-food sector, with a unique made-to-order fresh burger concept.

By mid-2024, the chain operated over 103 branches nationwide, including ongoing construction of additional sites.

Chairman Mohammad Al Ruwaigh has expressed confidence in Burgerizzr’s proven business model, which prioritizes fresh ingredients and adapts to evolving market trends while maintaining strong brand identity.

The capital increase comes as Burgerizzr aims to continue aggressive expansion, targeting up to 200 branches by 2025 to capture deeper market share in Saudi Arabia’s fast-food sector, estimated to be worth over SAR 30 billion (US$8 billion).

Growth in this market is driven by a young population, rising urbanization, and supportive Vision 2030 reforms that have empowered women’s workforce participation and boosted tourism and entertainment activities.

Burgerizzr’s growth strategy includes geographic expansion beyond central areas like Riyadh, seeking to establish presence across western, northern, and southern Saudi regions where there are untapped opportunities.

It is also pursuing selective franchising opportunities to extend its reach within and outside the Kingdom, focusing on finding partners with strong market understanding.

Beyond physical expansion, Burgerizzr is emphasizing digital sales channels.

Its proprietary app currently accounts for 40-45% of total sales, providing customers with loyalty rewards and exclusive offers, complementing delivery platforms and in-store orders.

The chain invests in operational improvements, including modernizing kitchen equipment and enhancing customer service to sustain efficiency and quality.

The capital injection will strengthen Burgerizzr’s financial position to support these initiatives, enabling it to accelerate new restaurant openings, drive innovation, and enhance competitiveness.

With its proven brand, robust expansion plan, and growing cash flow, Shatirah House Restaurants is well positioned to capitalize on Saudi Arabia’s growing demand for quality fast-food options.

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