Saudi businessman secures Tower Records license for Middle East and North Africa

Saudi businessman, Nader Al Nasser has announced that his company, OASES Entertainment Holdings Limited, has secured the exclusive franchise from music retailer Tower Records and will open 30 stores across the Middle East and North Africa - the first in Dubai, United Arab Emirates, later this year.

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By  Massoud Derhally Published  October 9, 2001

Saudi businessman, Nader Al Nasser has announced that his company, OASES Entertainment Holdings Limited, has secured the exclusive franchise from music retailer Tower Records and will open 30 stores across the Middle East and North Africa - the first in Dubai, United Arab Emirates, later this year. The new development coincides with the opening of the first Virgin Megastore in the gulf, yesterday at Dubai’s City Centre mall.

The venture is the result of an exclusive license agreement, signed in February 2001, between MTS Tower Records and OASES Entertainment Holdings Limited (OEHL), headed by its Chairman and CEO, Nader Al Nasser. Tower Records, which was founded in 1960 in Sacramento, California has grown in size over the past four decades and is present in 18 countries globally. With over 180 Tower Records stores worldwide, OEHL says it now commands the largest territory ever assigned to a franchisee within the Tower Records group.

Speaking of his plans to introduce music lovers throughout the Middle East and North Africa to the unique Tower Records retailing concept, Al Nasser said, "Tower Records is a no-frills, natural place to buy music. It embraces all age groups and cultures from suited businessmen to teens in jeans!"

"Our approach is simple and based on over 40 years experience. We provide customers who know about music with what they want; those who want to know more about music with information and recommendations; and all music lovers with the sheer enjoyment, service and high value for which our brand has become renowned," added Al Nasser.

"Over the course of the next two to three years, we will develop about 30 retail outlets, each with a unique music-buying concept that reflects and celebrates the musical interests and needs of each of the local communities where we operate."

The first store is due to open later this year and will carry a large range of music, books, videos, accessories, tickets, novelty items, and a separate area for hundreds of classical and jazz titles. "Our entire operating philosophy is based on a store opened by music lovers, for music lovers," added Al Nasser.

The first Dubai store will be just one of a number of Tower Records stores opening in the UAE before the Spring 2002.

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