Spinneys to Open New Hypermarket in Mall of Arabia in 6th October City

CAIRO, Egypt, March 30, 2010 /PRNewswire/ -- 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.

Spinneys

Spinneys was founded in 1924 in Alexandria, Egypt, by Arthur Rawdon Spinney. The brand is renowned for delivering superior service to the consumers over the past 85 years and is now recognized as being the leading premium supermarket in the Middle East and North Africa. Spinneys is engaged in a regional expansion, with stores currently trading under the Spinneys brand in Lebanon, Egypt and the UAE. Units will also open shortly in Jordan and Qatar, to be followed by further stores in new markets bringing the brand's presence to more than ten countries.

Fawaz Alhokair Group

In over 20 years Fawaz Alhokair Group has transformed the retail landscape of The Kingdom of Saudi Arabia through successfully pioneering international retail franchising. The Group started with 2 menswear stores in 1989 and has become today a diversified corporation with core businesses in the retail business, with 11 operational mall and 12 others planned to open in the next 5 years. Fawaz Alhokair Group's strength lies in not only attracting established global brands to the KSA but also in creating long-lasting and mutually beneficial relationships based on trust, expertise and commitment.

Egyptian Centers

Egyptian Centers started its operation in Egypt in 2007 under the umbrella of Fawaz Al Hokair Group. The company's mission is to become the biggest owner and operator of shopping malls in Egypt. The first on-going project for the company is Mall of Arabia 'Cairo' which is planned to open its gates in summer 2010. On the gates of 6th of October City, in a prime location stands the biggest mall in Egypt in terms of retail space and number of brands. The company has other plans to expand in Egypt to reach 1 million sqm leasable area in the next five years.

    Contact: Nicole Karkour, Group Marketing Manager
    Name of Company: Spinneys
    Phone: +961-70-454140
    Web Site: http://www.spinneys.com
    E-Mail: [email protected]

SOURCE Spinneys