Hyper One Invests EGP 650 mln in 3 New Branches

Hyper One Group studies pumping EGP 650 million new investments during the coming 3 years, for constructing 3 new branches in Cairo governorate.

The Group chairman, Mohamed El Hawary, told Amwal Al Ghad that Egyptian market is open to new investments, and it receives more commercial branches which serve Egyptian consumer; especially after sharpening the competition between them and retreating the prices.

He elaborated that the expansion decision has no relation to Zad supermarkets which the MB businessman Khairat al-Shater announced. He had set his investing plan immediately after the revolution, ad he anticipated the necessity of Egyptian market on the long term.

The incomes of investment in Egypt are very large and there aren’t any problems concern spreading the new supermarkets in different governorates. The local market could bear more new investments; as El Hawary aims at expanding in Cairo, and is studying the idea of inaugurating a branch in Alexandria.

He said the company is about to inaugurate the third branch of Hyper One in Solimania, in Alex desert road. His plan includes inaugurating more branches in Upper Egypt.

El Hawary refused to comment of the identity of investors of the supermarkets, whether the foreign investments from the private sector or the governmental one; referring that the key target is to serve the local market with the best quality and low prices.