Residents in Riyadh are expecting reduced prices for essential items at the month-long shopping festival which opened here on Wednesday. Prince Sattam Bin Abdul Aziz, Deputy Emir of Riyadh Region, inaugurated the festival in the presence of leading businessmen and thousands of shoppers at Othaim Mall in Rabwa District. Over 1,000 business outlets including leading shopping malls, grocery stores, hotels and recreation centers, and travel agencies are participating in this annual affair, organized by the Riyadh Chamber of Commerce and Industry (RCCI). Abdurrahman Al-Jeraisy, RCCI Chairman; Abdullah Bin Saleh Al-Othaim, Chairman, owner of Al-Othaim Mall; Mohammed Al-Moajel, CEO of Al-Hokair Group of Companies and Deputy Head of the Preparatory Committee; and Hamad Al-Homaidan, RCCI's Assistant Secretary General, were among those present on the occasion. These leading businessmen play an important role in the daily lives of people because they run various businesses including chains of grocery stores, recreation and entertainment and IT enterprises. Abdulaziz Wazeer, a shopper called on businessmen to not only try to make money but also address the issue of rising prices in the Kingdom. “We expect to buy things not only at discounted rates, as part of clearance sales but other essential commodities that every household requires on a daily basis.” Wazeer said the shopping festival has become an annual affair that usually offers discounts on non-essential items that people do not need. He urged the participating companies to reduce their profiteering during the festival and cut prices on rice, sugar, edible oil and a host of other food items. The prices of dairy products have been rising as also the prices of fruit and vegetables, he said. “The leading shopping malls that also run grocery stores can attract shoppers to buy things, particularly food items at reasonably reduced prices, in view of the coming holy month of Ramadan,” said Wazeer. Abdullah Al-Shammary, another shopper, said the business houses are passing on surging costs to consumers. “Although the leading grocery stores are competing by offering marginal discounts on essential commodities, the prices of rice and other grocery items are still high and has a direct effect on the daily budget of a family,” he said. The shopping festival only contributes to increased consumerism and an additional burden on a family's monthly budget, he said. Expenses during the holiday season go up substantially because the children want to go out shopping or visit the recreation centers almost on a daily basis, he added. The ultimate beneficiaries during such events are the businessmen, he said. Al-Jeraisy said the Riyadh Summer Shopping Festival 2011 has entered its seventh year. He said the event is aimed at promoting domestic tourism. The Saudi capital is already a tourist attraction for local and Gulf visitors, he said. He said 14 shopping and recreational malls will participate this year, in addition to 1,000 companies across the city. Some of the leading commercial centers and shopping malls participating include Al-Mamluka Mall, Al-Faisaliah Mall, Al-Othaim Mall, Sahara Mall, Al-Riyadh Gallery Mall, Lulu Hypermarkets, Localizer Mall, Star City, Al-Hokair Land, Saudi Akhariya Company, Fantazy Land, and Al-Watan Recreational Garden among others. The festival will end on July 28. __
