{"id":567644,"date":"2020-12-02T04:04:26","date_gmt":"2020-12-02T04:04:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/"},"modified":"2020-12-02T04:04:26","modified_gmt":"2020-12-02T04:04:26","slug":"marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/","title":{"rendered":"Marakez opens new mall, says Black Friday footfall was about on par with \u201819"},"content":{"rendered":"

<\/a> Fawaz AlHokair Group\u2019s mall development company Marakez inaugurated Town <\/strong>Center, its new EGP 260 mn convenience mall<\/strong> on the intersection of the Ring Road and Cairo-Ismailia Road, according to an emailed statement (pdf)<\/a>. The new mall is part of Marakez\u2019s plan to invest USD 45 mn this year in four new shopping malls, which Al Hokair brothers Fawaz, Salman, and Abd Al Hamid had announced earlier this year<\/a>.<\/p>\n

Among Town Center\u2019s first retail outlets: <\/strong>Majid Al Futtaim-owned supermarket chain Carrefour Egypt, which invested EGP 70 mn on the new branch, according to Masrawy<\/a>. The supermarket chain had planned to spend EGP 200 mn to open nine new stores in Cairo and Alexandria before the end of the year, Egypt country manager Jean Luc Graziato said in September<\/a>.<\/p>\n

SPEAKING OF BRICK AND MORTAR RETAILERS:<\/strong> Black Friday footfall at Marakez Egypt\u2019s malls was just a little lower this year than it was in 2019, Executive Vice Chairman Ahmed Badrawi told Enterprise. While the day itself saw a little less traffic than last year, overall footfall throughout November was higher than 2019 as retailers extended Black Friday offers for the majority of the month, Badrawi said. Across the pond, the picture is different \u2014 in-store traffic dropped 52.1% y-o-y on Black Friday in the US, while spending on e-commerce surged 21.6%, according to CNBC<\/a>.<\/p>\n

WANT MORE?<\/strong> We sat down this season of Making It with Majid Al Futtaim Properties CEO Ahmed Galal<\/a> to debate how online commerce compares to the retail experience.<\/p>\n

CORRECTION- 2 December 2020\u00a0<\/em><\/p>\n

An earlier version of this story incorrectly identified Ahmed Badrawi as CEO of Marakez Egypt.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Fawaz AlHokair Group\u2019s mall development company Marakez inaugurated Town Center, its new EGP 260 mn convenience mall on the intersection of the Ring Road and Cairo-Ismailia Road, according to an emailed statement (pdf). The new mall is part of Marakez\u2019s plan to invest USD 45 mn this year in four new shopping malls, which Al […]<\/p>\n","protected":false},"author":1,"featured_media":567645,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8312],"tags":[8934,72,1896,895,338],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail","tag-carrefour","tag-enterpriseam","tag-majid-al-futtaim","tag-marakez","tag-retail","wpautop","entry"],"acf":{"mongo_id":"6d103ae7-cae9-4cdc-be25-b98edce6c2ee","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/44.jpg","photo_position":"above","related_issue":[567636],"teaser":"","voice_url":""},"yoast_head":"\nMarakez opens new mall, says Black Friday footfall was about on par with \u201819 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marakez opens new mall, says Black Friday footfall was about on par with \u201819\" \/>\n<meta property=\"og:description\" content=\"Fawaz AlHokair Group\u2019s mall development company Marakez inaugurated Town Center, its new EGP 260 mn convenience mall on the intersection of the Ring Road and Cairo-Ismailia Road, according to an emailed statement (pdf). 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Marakez inked a long-term lease agreement last December with Al Futtaim Misr for Retail, which\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595244,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/19\/alhokairs-marakez-looking-for-land-for-a-mall-in-egypts-assiut\/","url_meta":{"origin":567644,"position":1},"title":"AlHokair\u2019s Marakez looking for land for a mall in Egypt\u2019s Assiut","author":"enterpriseam admin","date":"19 September 2019","format":false,"excerpt":"Marakez for Real Estate Investment is planning to develop a new shopping mall in Salam City on the Cairo-Ismailia road at a cost of EGP 250 mn, Chief Business Development Officer Ashraf Farid said, according to Al Shorouk. The mall will feature both open-air areas and retail stores. The Fawaz\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573617,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/11\/marakez-signs-egp-670-loan-agreement-with-local-banks-for-mall-of-katameya\/","url_meta":{"origin":567644,"position":2},"title":"Marakez signs EGP 670 loan agreement with local banks for Mall of Katameya","author":"enterpriseam admin","date":"11 August 2020","format":false,"excerpt":"Fawaz AlHokair Group\u2019s mall development company Marakez has signed a EGP 670 mn syndicated loan agreement with local banks to finance phase two of Mall of Katameya in east Cairo. Each of Banque Misr, Banque du Caire (BdC), an the Arab African International Bank contributed an equal share of the\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603382,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/21\/majid-al-futtaim-to-invest-egp-700-mn-to-open-20-new-carrefour-outlets-in-egypt\/","url_meta":{"origin":567644,"position":3},"title":"Majid Al Futtaim to invest EGP 700 mn to open 20 new Carrefour outlets in Egypt","author":"enterpriseam admin","date":"21 April 2019","format":false,"excerpt":"Majid Al-Futtaim Group (MAF) is planning to invest EGP 700 mn in Egypt this year to open 20 new Carrefour outlets, Carrefour Egypt Country Manager Jean Luc Montague told reporters on Thursday, according to the local press. 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Fawaz AlHokair Group\u2019s Marakez has inked a long-term lease agreement with Al Futtaim Misr for Retail to open a 20k sqm Ikea store at Mall of Arabia in West Cairo, according to a statement (pdf). The outlet will be the second in Egypt\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/12\/807.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594621,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/ikea-opens-new-store-in-mall-of-arabia\/","url_meta":{"origin":567644,"position":5},"title":"Ikea opens new store in Mall of Arabia","author":"enterpriseam admin","date":"2 September 2019","format":false,"excerpt":"Swedish furniture and home accessories retailer Ikea opened a new store west of Cairo in the Mall of Arabia to serve customers in the area until its full-scale store opens its doors in 2020, Al Shorouk reported. Fawaz AlHokair Group\u2019s Marakez inked a long-term lease agreement with Al Futtaim Misr\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=567644"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567644\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567636"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/567645"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567644"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567644"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}