New Development Phase for “Union Coop” to Expand its Presence
Published By: Al Bayan
Translated By: Benoi Nair
Mr. Mohamed Al Hashemi, CEO, Union Coop, confirmed that the cooperative has included in its plans the opening of three new branches shortly in the areas of Nad Al Sheba, Al Khawaneej, and Dubai Silicon Oasis.
In exclusive statements given to “Al Bayan,” Al Hashemi pointed out a new development phase for “Union Coop” to expand its presence in UAE’s markets, following carefully planned strategies for distribution and geographical expansion to facilitate the delivery of products to the community, ensuring a commodity balance in Dubai, and building a sustainable strategic food stock for the country.
Al Hashemi explained that the cooperative’s ambition knows no bounds with the support of the wise leadership of the country, and it began this year to implement a new transitional plan aimed at increasing its competitiveness and presence in the country’s markets. This involves changing and updating concepts in the retail sector, adopting modern methods, and incorporating artificial intelligence into the services provided. He noted that the number of branches has now reached 27 branches and 7 commercial centers.
Al Hashemi added that he assumed the position of CEO at the end of 2023 to continue the development and success journey that the cooperative has embarked on since its inception. He will work in collaboration with the supportive board of directors to enhance the cooperative’s competitiveness and develop goals and strategies to increase its profits and competitiveness in Dubai. The current focus is on prioritizing tasks to align with the rapid changes in the retail sector in the country and the world, ensuring the smooth delivery and provision of high-quality goods and products, and contributing to supporting the country’s food security system.
Al Hashemi affirmed that “Union Coop” has made significant contributions to various social, health, economic, charitable, sports, and security sectors since its inception. The cooperative has supported projects dedicated to youth that have changed many social concepts about the role of cooperatives. This confirms its support for the country’s directions and leadership vision in this regard, embodying its successes locally and internationally. He pointed out that the cooperative provided financial and moral support to several entities, with social contributions reaching approximately AED 10 Million last year.
Al Hashemi mentioned that the cooperative executed more than 100 promotional campaigns to reduce prices on various essential consumer goods, with discounts exceeding 75%. These campaigns, part of its attractive and high-value marketing programs, benefit contributors and consumers. The cooperative aims to develop its services, contributing to providing the best according to the latest global standards to maintain balance in local markets. It also supports and serves the community in line with the country’s economic and social objectives.
Al Hashemi confirmed that “Union Coop” has prioritized Emiratization in 2024, focusing on its economic plans, vision, and expansion goals, while providing job opportunities for Emirati youth, both males and females. The cooperative has allocated clear and precise career paths that match their educational and professional qualifications, in line with the wise leadership’s directives to prioritize providing jobs for citizens and attracting the best national talents, maintaining and safeguarding them. The Emiratization rate in the cooperative has reached 33%, with the number of Emiratis in the cooperative reaching 329 by the end of 2023, occupying leadership, administrative, and other positions suitable for Emiratization.
Al Hashemi noted that the cooperative’s smart app and online store handled 444,530 purchase requests for food and non-food products during 2023, with a daily delivery of 1,218 orders. The number of registered users in the cooperative’s application exceeded 341,000. The smart store includes tens of thousands of diverse products, regularly updating and adding new items to make them accessible to all consumers, aligning with the developments in the retail sector.
Regarding stock market values and fluctuations in prices, Al Hashemi mentioned several factors contributing to this, stating that mechanisms and standards are currently being studied to improve the cooperative’s stock performance to have a more significant impact on the market.