SouqExtra! Officially Launches First Supercenter at Ewan Residences, Dubai

| 16/12/2009 | Reply

Dubai, UAE–15 December, 2009: The first outlet of SouqExtra!, the national
chain of community supercenters, was officially launched today with a ribbon-
cutting ceremony presided over by His Highness Sheikh Majid Bin Mohammed
Bin Rashid Al Maktoum, Chairman of the Dubai Culture and Arts Authority. The
official launch will be accompanied by a community activities program.
The SouqExtra! Ewan Residences outlet located in Dubai Investments Park is a
single-floor development providing a mix of outlets that will offer a convenient
retail solution to the local community through the number of high-quality services
carefully chosen to meet the needs of the local residents. The retail mix will
include outlets of Spinneys supermarket, Redha Al Ansari Exchange, Life
Pharmacy, Dubai Library, Al Farooj Restaurant and Bare’ Beauty salonproviding
the local community with a one-stop-shop offering services tailored to fulfil their
daily needs.   
Saleh Abdullah Lootah, Managing Director of SouqExtra!, expressed his
appreciation to HH Sheikh Majid for formally launching the community
supercenter chain, and his pleasure at the initial market reception to the concept.
“I extend my thanks to HH Sheikh Majid for officially opening the first SouqExtra!
center, and our partners who have stood behind the concept since the beginning,
and whose support has helped make this day possible. The opening of this outlet
marks the first step of what I hope will be a long and prosperous journey for
SouqExtra!,” said Lootah.
“The outlet is 100% leased to major service and product providers, which
demonstrates the strong market response to our business model,” added Lootah.
“We extend our congratulations to the SouqExtra! management and look forward
to watching our partnership bloom. The UAE was experiencing a gap in the
market for a community supercenter concept that was truly committed to offering
its customers a high quality of products and services. With the launch of
SouqExtra! we expect that niche to be filled” said Mohammed Qasim Al Ali the
CEO of National Bonds.
“The SouqExtra! model offers a reputable platform for retail providers interested
in taking their products and services directly to residential communities and we
are expecting this concept to show very positive results in both the short and
long-term,” said Jannie Holtzhausen, CEO Spinneys Dubai LLC.
SouqExtra! has put in place a strategic plan to open 75 outlets across the UAE
and the Middle East over the next 10 years. The decision follows the positive
reception of the concept within the local retail sector and among target consumer
groups.
SouqExtra! is a pioneering lifestyle supercenter model, representing an
innovative retail concept shaped by extensive research into outlet positioning as
well as the quality and variety of services offered. It offers an innovative program
that encourages local entrepreneurs to enter the exciting retail scene, and
focuses on providing access to amenities and services that connect consumers’
professional and family life to the larger community, adding something Extra! to
life.
The confidence in this new retail concept is confirmed by the number of reputed
investors who have invested in SouqExtra!, which include the Lootah Group,
Emirates Post Group, National Bonds Corporation, Bonyan Holding, Abbasi
Group and a number of high net worth individuals.

Category: Middle East & Africa, Retail

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