{"id":649768,"date":"2017-03-08T04:17:00","date_gmt":"2017-03-08T04:17:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/is-malls-euphoria-coming-at-a-bad-time\/"},"modified":"2017-03-08T04:17:00","modified_gmt":"2017-03-08T04:17:00","slug":"is-malls-euphoria-coming-at-a-bad-time","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/is-malls-euphoria-coming-at-a-bad-time\/","title":{"rendered":"Is malls euphoria coming at a bad time?"},"content":{"rendered":"

<\/a> Is Egypt\u2019s euphoria with malls coming at a bad time?<\/strong> Mega malls opening in Egypt are coming at a bad time as high inflation slows down spending, argues Hossam Abougabal in a Middle East business intelligence<\/a> piece. Abougabal writes that \u201cliving costs have increased drastically since November 2016, with the outlook for retail in the 2017 looking uncertain as prices continue to rise.\u201d He cites Majid Al Futtaim\u2019s (MAF) newly opened Mall of Egypt, its Almaza City Centre Mall which is due to open in 2019, Capital Mall which is launching at the end of 2017, and Madinaty Mega Mall, which is slated to open in early 2018. \u201cFuture supply is safe as Egypt\u2019s economy looks to improve in the coming years. The shock of increased living costs will stabilise as incomes inevitably increase,\u201d according to Abougabal. Opportunity lies in developing local brands, he says.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is Egypt\u2019s euphoria with malls coming at a bad time? Mega malls opening in Egypt are coming at a bad time as high inflation slows down spending, argues Hossam Abougabal in a Middle East business intelligence piece. Abougabal writes that \u201cliving costs have increased drastically since November 2016, with the outlook for retail in the […]<\/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-649768","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6bb3ec07-6bbe-4dd3-8aea-14a2802ac047","order":"0","is_powered_by":true,"section_story_id":"3f9491d6-7c48-41ea-a20b-847595022c17","story_type":"1","photo_url":"","photo_position":"above","related_issue":[649754],"teaser":"","voice_url":""},"yoast_head":"\nIs malls euphoria coming at a bad time? - 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\/03\/08\/is-malls-euphoria-coming-at-a-bad-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is malls euphoria coming at a bad time?\" \/>\n<meta property=\"og:description\" content=\"Is Egypt\u2019s euphoria with malls coming at a bad time? Mega malls opening in Egypt are coming at a bad time as high inflation slows down spending, argues Hossam Abougabal in a Middle East business intelligence piece. 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\u201cPlans to revive the public share sale of Fawaz Alhokair Group\u2019s mall unit are on hold after the accounts of its billionaire co-founder were frozen in Saudi Arabia\u2019s corruption crackdown, according to people with knowledge of\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\/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":649768,"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":650684,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/29\/facing-slowdown-contractors-should-look-for-projects-abroad\/","url_meta":{"origin":649768,"position":2},"title":"Facing slowdown, contractors should look for projects abroad","author":"enterpriseam admin","date":"29 March 2017","format":false,"excerpt":"Taking on work outside of Egypt could be the best way to for local contractors to alleviate the pressures caused by the EGP devaluation, Hossam Abougabal suggests in MEED. \u201cSome contractors operating in Egypt have told MEED that although a government package is on the way, it is unlikely to\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":646082,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/05\/chinese-investments-in-new-capital-could-be-bad-news-for-local-firms-meed\/","url_meta":{"origin":649768,"position":3},"title":"Chinese investments in New Capital could be bad news for local firms \u2013MEED","author":"enterpriseam admin","date":"5 June 2017","format":false,"excerpt":"The resumption of talks with Chinese firms interested in building the USD 20 bn New Administrative Capital could be a bad sign for local firms, Hossam Abougabal writes for MEED, who argues the Chinese are crowding out local contractors. 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