{"id":641553,"date":"2017-09-26T03:57:17","date_gmt":"2017-09-26T03:57:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/26\/spinneys-to-invest-egp-250-mn-in-doubling-number-of-branches-to-24-by-2019\/"},"modified":"2017-09-26T03:57:17","modified_gmt":"2017-09-26T03:57:17","slug":"spinneys-to-invest-egp-250-mn-in-doubling-number-of-branches-to-24-by-2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/26\/spinneys-to-invest-egp-250-mn-in-doubling-number-of-branches-to-24-by-2019\/","title":{"rendered":"Spinneys to invest EGP 250 mn in doubling number of branches to 24 by 2019"},"content":{"rendered":"

<\/a> INVESTMENT WATCH- Supermarket operator Spinneys is planning to invest more than <\/strong>EGP 250 mn to double its number of branches<\/strong> in the country to 24 by 2019, the company\u2019s Egypt CEO Mohanad Adly tells Al Mal<\/a>. Two new branches in Maadi and Al Shorouk City are already under construction, with one set to open next month and another in early 2018. The company is also in talks to acquire space at the new administrative capital to build a large hypermarket within a mall, Adly says. The expansion is part of a company strategy, which began in 2015, to pump c. EGP 500 mn in new investments into Egypt over the course of four years. Spinneys, which is fully-owned by the UAE\u2019s Abraaj Group, is hoping to grow revenues to north of EGP 2 bn by the end of 2018, on the back of new outlets. The group has been on an expansion drive in Egypt since last fall (coverage here<\/a> and here<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

INVESTMENT WATCH- Supermarket operator Spinneys is planning to invest more than EGP 250 mn to double its number of branches in the country to 24 by 2019, the company\u2019s Egypt CEO Mohanad Adly tells Al Mal. Two new branches in Maadi and Al Shorouk City are already under construction, with one set to open next […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-641553","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ffad104d-0bf1-4550-b24e-e6f705a22b71","order":"0","is_powered_by":true,"section_story_id":"ff270702-88fd-4eeb-9d7b-0583cb392da4","story_type":"1","photo_url":"","photo_position":"above","related_issue":[641543],"teaser":"","voice_url":""},"yoast_head":"\nSpinneys to invest EGP 250 mn in doubling number of branches to 24 by 2019 - 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\/2017\/09\/26\/spinneys-to-invest-egp-250-mn-in-doubling-number-of-branches-to-24-by-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spinneys to invest EGP 250 mn in doubling number of branches to 24 by 2019\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- Supermarket operator Spinneys is planning to invest more than EGP 250 mn to double its number of branches in the country to 24 by 2019, the company\u2019s Egypt CEO Mohanad Adly tells Al Mal. 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