Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    SCZONE showcases investment opportunities to eight Japanese companies    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Spinneys joins Better Mall project
Published in Daily News Egypt on 03 - 11 - 2009

CAIRO: Better Mall signed a deal with Spinneys over the hypermarket space in the new Cityscape Mall in Sixth of October.
Essam Adel, CEO of Better Mall, and Shadi Ashkar, Spinneys general manager in Egypt, signed the contract at a an event held in Cairo on Monday.
Better Home, the mother company of Better Mall, has invested LE 300 million in the Cityscape Mall, which is to be opened in July 2010. The mall will contain more than 100 stores, four movie theaters, a food court, a children's electronic playground and a Spinneys hypermarket.
Better Mall will provide around 5,000 job opportunities, Adel said.
Spinneys will invest $4 million to set up its store in the mall. The hypermarket is expected to employ between 150 and 170 workers. This will be the second Spinneys hypermarket in the Greater Cairo area after the one in City Stars Mall.
"We don't have any competition, said Amir Boker, a financial expert working for Better Home. He explained that Better Mall's strategy is to build malls that meet international standards - something other shopping centers in Egypt fail to do, in his opinion.
Better Mall has chosen design, architecture, products and brand selection that follow the latest developments in the mall industry, he added.
He also pointed out that Egypt is a growing market with a lot of potential. In 2009, the spending power of the Egyptian population grew by 7.2 percent. Retail spending for the year is estimated at $63 billion, and is projected to almost double by 2013 to reach $116 billion.
"Raising the standard of the retail business works both ways, as it creates new employment, said Boker commenting on the general ability of Egyptians to afford high-standard services and products. He explained that Better Mall brings in companies that put a lot of effort in maintaining the quality of their products and customer service and, therefore, tend to invest more in physical and human capital.
Better Mall is to expand its activities into Upper Egypt as well, with the opening of a Cityscape Mall in El-Minya El-Gadida at the end of 2010. Better Home is also currently building two housing complexes called Highland Park, one in New Cairo and one in Sixth of October.
Spinneys also recognizes the potential of the Egyptian and MENA region markets. "We have a very definite 3-4 year expansion program, said Alister Calder, chief development officer at Spinneys.
He also confirmed that there will be another Spinneys hypermarket opening up soon in Egypt, but refused to reveal the location.


Clic here to read the story from its source.