SouqExtra!, the pioneering community supercenter concept, has put in place a strategic plan to open 75 outlets across the UAE and the Middle East over the next 10 years. The decision follows the positive reception of the concept within the local retail sector and among target consumer groups.
“Following the successful completion of our first outlet at Ewan Residences, we have put in place a new financial plan that revises the allocation of the available budget, in order to utilize its full potential in meeting the targets of our aggressive expansion plan,” said Saleh Abdullah Lootah, Managing Director of SouqExtra!.
“SouqExtra! is based on extensive research into outlet positioning. Our location strategy is based on a survey that indicated that the target consumer profile views the concept of a local community supercenter very positively. The new strategic plan involves the opening of 75 SouqExtra! outlets across the UAE and the Middle East over the coming decade,” Lootah added.
Executives of SouqExtra! have engaged in meetings with government authorities in Sharjah and Dubai with the aim of aligning the community supercenter’s expansion plans with local community development plans. Company officials met with the Awqaf General Trust, Sharjah and the Mohammed Bin Rashid Housing Establishment, Dubai to discuss how SouqExtra!’s strategy can fit in with current infrastructural development and the requirements of different demographic groups within individual emirates.
“We are moving forward with our investment plans and communicating with government authorities to secure the success of our ambitious roll-out strategy. The response to date has been very encouraging,” said Lootah.
SouqExtra! announced earlier this month that the official launch of its first community supercenter at Ewan Residences will take place in November, accompanied by a week of community activities. The outlet, located in Dubai Investments Park, is 100% leased, with several leading product and service providers contributing to the retail mix.
SouqExtra! is a pioneering lifestyle supercenter model, representing an innovative retail concept shaped by extensive research into outlet positioning as well as the quality and variety of services offered. It offers an innovative program that encourages local entrepreneurs to enter the exciting retail scene, and focuses on providing access to amenities and services that connect consumers' professional and family life to the larger community, adding something Extra! to life.
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