Tourists to enjoy VAT-free shopping at Malabar Gold & Diamonds across Saudi Arabia
Malabar Gold & Diamonds, the 5th largest jewellery retailer globally with over 400 showrooms across 13 countries and a name synonymous with trust, quality, and timeless craftsmanship, has gained authorization from the Zakat, Tax and Customs Authority (ZATCA) of Saudi Arabia to provide VAT-free jewellery shopping for tourists. This milestone follows the recent launch of ZATCA’s new VAT refund program, designed to offer VAT refund to international visitors.
As the largest jewellery retail chain in Saudi Arabia, with 17 strategically located showrooms across key cities, Malabar Gold & Diamonds is now fully equipped to extend this significant benefit to tourists, including those who visit the country for Umrah and Hajj. The initiative is expected to further enhance Saudi Arabia’s appeal as a global shopping destination, aligning with the nation’s vision of boosting tourism and retail growth.
The VAT-free shopping facility at Malabar is designed to be effortless with a simple 3-step process. Customers need to present their passport or GCC national ID to the showroom staff before completing their purchase. A ‘Global Blue Tax Free Form’ will then be issued to facilitate the refund process. Upon departure from Jeddah, Dammam, or Riyadh international airports, travelers can submit their tax refund request at Global Blue self-verification kiosks to validate their tax-free shopping form before leaving the country.
“Saudi Arabia is a key market for us, both for its vibrant local clientele and its vast influx of international visitors, particularly during the pilgrimage seasons. This ZATCA authorization enables us to enhance our value proposition to tourists by combining our world-class jewellery collections with tangible shopping benefits. It is a step that not only supports our customers but also aligns with the Kingdom’s broader vision for tourism and retail growth”, commented Shamlal Ahamed, Malabar’s managing director for international operations.
By securing ZATCA authorization, Malabar Gold & Diamonds joins a select group of retailers able to offer VAT refunds in Saudi Arabia and stands out as the largest jewellery chain to do so. Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. With an annual turnover of $7.36 billion, the company currently ranks as the 5th largest jewellery retailer globally.
Today, Malabar has a strong retail network of 400 outlets spread across 13 countries in addition to multiple offices, design centers, wholesale units, and factories spread across Saudi Arabia, India, Middle East, Far East, the USA, the UK, Canada, and Australia. The group, owned by more than 4,000 shareholders, has more than 25,000 professionals from over 26 countries working towards its continued success.
Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favorite jewellery at any time and on any day from the comfort of their homes. ESG (Environmental, Social & Governance) has been the primary commitment of the group since its inception. The key ESG focus areas of Malabar Group are health, housing, hunger free world, education, environment and eomen empowerment.
Integrating the principles of responsibility and sustainability into its core business, Malabar Group periodically strengthens its ESG goals to remain a socially conscious and responsible organization. The group contributes five percent of its profit to such initiatives in the same country of operation.
