TGI Fridays™ Signs Development Agreement to Fuel Pakistan Growth

Plans include scaling to 15 restaurants as TGI Fridays continues to expand its footprint across South Asia and the Middle East under its 1-2-3 Strategic Vision.

DALLAS, Sept. 23, 2026 /PRNewswire/ -- TGI Fridays™ today announced a landmark development agreement with Meerab Hospitality, marking an exciting chapter for the brand in Pakistan and further accelerating its growth across South Asia. Following the brand's recent development agreement in the Maldives, the partnership builds on growing momentum across the region and reinforces TGI Fridays' strategy of expanding its global footprint through strategic, long-term franchise partnerships.

The agreement marks an important milestone in TGI Fridays' continued international expansion and further strengthens the brand's presence across South Asia and the Middle East, as it accelerates toward its 1-2-3 Strategic Vision of 1,000+ restaurants and $2 billion in annual revenue by 2030.

With more than 240 million people and a median age of just 21, Pakistan offers TGI Fridays a compelling combination of scale, youth and long-term growth potential. Rapid urbanization, continued investment in malls and mixed-use destinations, and an evolving dining culture are creating new opportunities for international restaurant brands as consumers increasingly seek distinctive, experience-led dining. Through its partnership with Meerab Hospitality, TGI Fridays is positioned to capture that opportunity with a brand guests already recognize, bringing its signature combination of bold American flavors, legendary mocktails, high-energy atmosphere and unmistakable Fridays hospitality to one of South Asia's most dynamic consumer markets.

Meerab Hospitality brings deep regional expertise and operating strength to the partnership. As the franchise and development arm of Meerab Properties, the company combines a two-decade track record across the Middle East, South Asia and Central Asia with extensive international hospitality experience. Together, TGI Fridays and Meerab Hospitality are well positioned to capture Pakistan's growing appetite for international dining experiences, while creating new employment opportunities, investing in local hospitality talent and bringing the unmistakable Fridays spirit to a new generation of guests.

"We don't enter a market like Pakistan because it's on a list — we enter it because the fundamentals are right and the partner is right," said Phil Broad, Global President, TGI Fridays. "Pakistan has one of the youngest populations anywhere in the world and a retail landscape that's evolving fast. Meerab Hospitality understands that better than an outside operator could, and their hospitality background means they know how to run a room, not just build one. That's the combination we look for.

What makes Pakistan particularly exciting is the energy of the market and the generation coming through. They're connected, curious and looking for brands that give them more than just a meal. That plays directly to the strength of TGI Fridays. We've always been at our best when we bring people together, create a little theatre and give guests a reason to stay longer, celebrate louder and come back again. Pakistan gives us an exciting new stage to do exactly that."

Pervaiz Iqbal Shahid, Founder and Group CEO, Meerab Properties, said:

"We are delighted to bring TGI Fridays back to Pakistan and to begin a new chapter for this iconic global brand in the country. Our ambition is to reintroduce the brand through an energized and well-capitalized platform, supported by strong operational leadership and a long-term commitment to responsible growth across Pakistan.

Our first flagship restaurant is targeted to open within the next 12 months at the prestigious Hyatt Regency Hotel complex in Lahore. This will provide an exceptional launch platform for the brand and establish the standard for the restaurants that follow.

Over the next decade, we look forward to developing TGI Fridays across Pakistan through a carefully considered combination of company-owned and approved sub-franchised restaurants. We are committed to protecting the strength of the brand, delivering an outstanding guest experience, and building a sustainable nationwide business together with the TGI Fridays team."

The agreement is TGI Fridays' second market signing this month, following the brand's first-ever entry into the Balkans, and builds on a series of international agreements over the past year spanning Kenya, the Maldives, Peru, Japan, Mexico, the Philippines, Greece, Cyprus and Spain. Together, these agreements have added close to 200 restaurants to TGI Fridays' global pipeline as the brand advances toward its 1-2-3 Strategic Vision of 1,000+ restaurants worldwide by 2030. The ambition is not about volume for its own sake but about selecting the right partners — experienced local operators who deeply understand the markets they are committed to developing.

At the heart of that growth is a deliberate franchise strategy: entering high-potential markets with partners who bring the local knowledge, capability and ambition to build TGI Fridays at scale. Meerab Hospitality is a strong example of that approach, combining deep market understanding with the hospitality expertise and ambition to build the brand for long-term success in Pakistan.

For more information: www.tgifridays.com/franchise/

About TGI Fridays™
Founded in 1965 as the world's first casual bar and grill, TGI Fridays is where the world goes to celebrate. Operating nearly 400 restaurants in almost 40 countries, Fridays brings people together through its craveable American classics, legendary cocktails and that unmistakable Fridays™ feeling - all brought to life by its rockstar teams. Whether it's full-service dining or bold-format convenience, TGI Fridays franchise-first approach, operational excellence, and brand power are built to scale. Franchisees are supported by global hubs in Dallas, Dubai and London, complemented by regional resources in select markets. Visit www.tgifridays.com for more information, join Fridays Rewards, and follow TGI Fridays™ on social media: Instagram @tgifridays, Tik Tok @tgifridays, Facebook TGI Fridays, and LinkedIn TGI Fridays.

About Meerab Hospitality
Headquartered in the United Arab Emirates, Meerab Properties is a diversified investment and operating company with investments and business interests across the UAE and Pakistan. The company develops long-term opportunities through direct ownership, strategic partnerships, and specialist operating platforms.

Through its hospitality platform, Meerab Hospitality Ventures, Meerab Properties is building a portfolio of international restaurant and hospitality brands in Pakistan, supported by experienced leadership, strong governance, and committed capital. Its strategy is focused on establishing sustainable businesses, developing local operating capabilities, and creating long-term value for its brand partners, customers, and stakeholders.

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