The franchise agreement with Bin Hendi marks Ruby Tuesday's third venture in the Middle East. The casual dining chain, which has more than 850 restaurants worldwide, has locations in Kuwait and new restaurants under development in Saudi Arabia.

Dubai is an important growth opportunity for Ruby Tuesday, according to Mark Ingram, president of franchising. "The Middle East is one of the fastest growing casual dining destinations in the world," he said in a company statement, adding that the potential exists for at least 1,000 Ruby Tuesday locations around the world.

During the chain's most recent quarterly earnings call at the end of March, chairman and CEO Sandy Beall said Ruby Tuesday plans to open 50 company-owned stores per year for the next five years and is also focusing on franchisee growth. He projected systemwide unit growth to exceed 100 stores per year, which represents about 6% to 8% growth annually.