About the Customer

Al Hokair Fashion Retail is the largest fashion retailer in the Kingdom of Saudi Arabia, Middle East and North Africa, Central Asia and the Caucasus region with a footprint of 1,842 stores across 100 shopping malls in 13 countries. Since its foundation in 1990, the client has actively established its presence, with a gross leasable area of more than 530,000 square meters, a workforce of over 9,000 employees, and a portfolio of 95 top international brands.


  • Managing multiple stores with a single lease agreement
  • Lack of visibility on landlord payments
  • Manual intervention for legal compliances
  • Operational challenges
  • Lack of integration capabilities


  • Aspire Systems proposed the iEstate Leasing Solution
  • Integration with Oracle Fusion Financials
  • Streamlined business processes
  • iEstate - Real Estate Solution deployed on Oracle OCI Technology


  • iEstate and OCI integration improved quality and accessibility to lease agreement data with generation of amortization schedules using Daily Compounding Interest and interest/accruals. Reduction of reconciliation effort in terms of period closure activities
  • Aspire’s solution automated IFRS 16 related journals such as lease capitalization, interest accruals, depreciations and lease modification adjustments which will help the finance team to get better insight on the balances.
  • The client will reduce the effort and complexity involved in Open Lease Agreement transition to IFRS 16 by using iEstate migration capabilities.


The finesse and skill with which Aspire worked on a prop-tech solution for Retail industry through Real Estate Property management ERP Software and integrating Oracle ERP Cloud can be equated with performing a complicated surgical procedure while the patient is conscious.


Head of Retail Operations, Global Fashion-Retail Leader

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