Spinneys, the premier supermarket retailer in the Middle East and North Africa, signed 20-year lease agreement with Egyptian Centres, a company owned by Fawaz Alhokair Group, to open its fourth store in Egypt and its third in Cairo. Spinneys will open the 11,000 square meter (sqm) store in Mall of Arabia, in 6th October City. The store's selling area will be bigger than a full-size football pitch, offering high-quality products at very competitive prices and superior customer service.
The agreement between Spinneys and Egyptian Centres plays a pivotal role in the Spinneys expansion strategy in Egypt. Spinneys already operates one store in Cairo and another in Hurghada.
"We strongly believe in the Egyptian market, and we are delighted to have joined Egyptian Centres magnificent project," stated Mr. Michael Wright. "Spinneys opened in City Stars in Cairo in 2006. The hypermarket has since become a leading outlet in the country and today welcomes more than 8 million people a year. Our plan is to expand the number of our outlets to bring the unique Spinneys combination of fantastic ranges, prices and promotions, together with our renowned service, quality and hygiene, to consumers across the country".
Mall of Arabia is located in Juhayna Square, 6th October City with a gross leasable area of 180,000 sqm and a total built up area of 267,000 sqm, it is expected to attract +400,000 visitors weekly. It has a unique design that combines contemporary and classic architecture, and is set to attract the region's most renowned retailers. With more than 9,000 free car parking space, cinema complex, family entertainment zone and the largest open air casual dining and coffee shops activities. Mall of the Arabia is strategically planned to be Egypt's premier shopping destination for Egyptians and tourists visiting Cairo.
The signing ceremony with Egyptian Centres took place at the Four Seasons Hotel in Cairo on the 24th of February between Michael Wright, Spinneys Group CEO, and Eng. Salman A. Alhokair, President of the Real Estate branch of Fawaz Alhokair Group. Also present were: Mr. Shady Abou Saad, General Manager of Spinneys Egypt, Mr. Mohamed Nasser El Mallah, General Manager of Egyptian Centres and Mr. Karim El Gendy, Eyptian Centres CFO.
© 2000 - 2021 Al Bawaba (www.albawaba.com)