Lebanon Businessnews News
 

Spinneys to open in Choueifat
More than ten new branches coming by 2015
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Spinneys is eyeing a new branch in Choueifat, to be located in the upcoming ‘Spot C’ mall (previously announced as Choueifat Mall) scheduled for 2015.

The Spinneys store will consist of one floor occupying 7,300 square meters. The store aims to serve up to 1.5 million visitors each year. Michael Wright, Chief Executive Officer of Spinneys, said that investment in the new outlet will reach $5 million. “We have approached the developers of the ‘Spot C’ mall because their catchment area is very appealing to our business strategy. The area there is still underserved and has great potential.”

The $80 million ‘Spot C’ mall is owned by BA Holding. DNA (Design Novel Architecture) are the project’s architects, and the contractors are Dolmen Contracting. The mall has a Gross Leasable Area of 46,000 square meters and stretches over 132,000 square meters of built-up area, said Tarek Hasan, Project Manager at Dolmen Contracting. The mall comprises nine floors: Four underground levels, including three parking floors (open for 1,200 cars), one ground floor, and four aboveground levels. ‘Spot C’ will also have a ten-screen movie theater, a food court, a playground, and restaurants.

Wright said that they are planning a wide expansion strategy until 2015, with more than ten outlets of various sizes expected to open in the country. “Budgets dedicated to our developments reach $40 million,” he said. Most of the outlets will be located close to heavy concentrations of population, mainly in the Greater Beirut Area and other regions. He said that most of their coming outlets will be standalones rather than in-mall stores.
Reported by Rana Freifer
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Date Posted: Jul 26, 2013