- Date: 08-11-2009
- Publication: Al-Akaria

• Better Home Group celebrated the joining of Spinneys chain stores to Cityscape Mall, which it owns, manages and undertakes its establishment in the Sixth of October on an area of 27,000 square meters with investments of LE 300 million.
• With the attendance of a number of leaderships and the two companies' officials, Engineer Essam Adel, Chairman of the Board of Directors of Better Mall; and Shadi Ashkar, Spinneys Egypt General Manager, signed the contract.
• Adel said that Cityscape Mall will include more than 100 stores, four cinemas and a large parking area that will be managed by US Projex Company.
• According to him, it has been designed according to the latest scientific architecture containing advanced facilities and modern infrastructure.
• Its official inauguration is expected in July 2010 and it will provide 5,000 job opportunities, he added.
• Adel pointed out that Cityscape Mall will encompass an artificial lake and island providing splendid scenery, which could be utilized in holding promotional events and festivals.
• He referred to the existence of a food court providing best fast foods. The center will comprise an events area amounting to 2500 square meters without columns covered by a BVC Teflon substance that is designed in Hungary, he stated. He explained that it will include great services for children.
• Adel recounted by saying that Better Mall possesses an ambitious plan for expansion in the Egyptian market, as it plans to establish tourist resorts in Al-Ain Al-Sokhuna and the Northern Coast, as well as establishing Cityscape mall chains in economically promising areas nationwide.
• He indicated that the company's investments in Egypt amount to around LE 1.7 billion embracing more than 400 employees.
• Spinneys general manager confirmed his happiness for joining Cityscape Mall, which provides an ideal place for shopping.
• He asserted that Spinneys store chains are regarded as the largest retail seller in the Middle East and North Africa. According to him, it was able to acquire Egyptian consumers trust thanks to its varied and high quality products.
• The supermarket area is 2000 square meters offering high quality products and distinguished services to meet consumers' requirements, as part of Spinneys blueprint in Egypt, which aims to augment in various areas, he pointed out.
• This would be the third branch for Spinneys in Egypt; as the first one is located in City Stars Mall with total area of 6,000 square meters and the second one is in Hurghada with total area of 6,150 square meters, he noted.
• According to him, the company has 390 products, manufactured and packed in Egypt. He explained that Spinneys looks forward to further cooperation with Egyptian producers to increase the company's investments and export the products to countries in which Spinneys branches are located.
• Meanwhile, Amir Boqtor, the Economic Consultant of Better Home, said this agreement is considered a good indicator to make foreign investors renew their confidence in the Egyptian market.
• The company found out that the number of developed malls in Egypt does not exceed 15 malls, while the shopping volume reached USD 63 billion in 2008 and is expected to reach USD 119 billion in 2013, according to the latest studies conducted on the market, Boqtor added.
• The company will work on applying the international standards in its projects to attract many foreign investments to the Egyptian market and to encourage the domestic investments to join this field, he pointed out.
• Better Home was established in 2005 and it is the mother company of a group of specialized companies including Better Home for Real Estate Investment for housing, Better Office for Real Estate Investment for the administrative buildings and Better Mall for Real Estate Investments for establishing malls topped by Cityscape Mall.
• Better Home for Real Estate Investments has many partnerships with other economic entities such as Better Business for Import and Export and Projex for Project Management.
• Arthur Rawdon Spinney formed Spinneys Group in Alexandria, Egypt in 1924. This store chain gained its reputation for offering distinguished service to its clients in the area.
• Therefore, Spinneys became one of the pioneering and most famous retail and consumption goods stores in MENA region. Spinneys currently aims at expanding in the region in addition to its stores in Egypt, Lebanon, UAE and the additional stores to be inaugurated shortly in Jordan, Qatar and other markets that should establish Spinneys in more than ten countries.
• Spinneys-Egypt was established in 2006 as a company specialized in retail selling. Its CEO is Mr. Shady Abu Saad.
• The company employs more than 1000 employees in Egypt and is owned by Abraaj Capital.
• The company's main branch is located in City Stars, Cairo and the second branch is in Hurgada's Senzo Mall.
• The company plans to open 10 branches by 2012 as part of its expansion policy in Egypt.
• The number of employees in the new project is expected to increase to about 130 employees.