Dubai, 20 August 2015. Cleopatra Group have appointed TriGranit Management Consultants (TGM) as the exclusive leasing agent for both Cleopatra Mall, Cairo and Cleopatra Plaza in Alexandria and are pleased to announce LuLu Hypermarket as a major anchor tenant in Cleopatra Mall.
Since October 2014, TGM Consultants have been working as co-leasing agents on Cleopatra Mall and, impressed with their dedication and hard work, the Cleopatra Group has now appointed TGM as the Exclusive Leasing Agent for the mall. Mr Mohammad Abou El Enein, Chairman of Cleopatra Group states "What has been at the forefront with TGM is their dedication, professionalism and grasp of our long term vision for Cleopatra Mall as well as its uniqueness, therefore it was an easy decision to appoint TGM exclusively, not just for Cleopatra Mall but also for our other highly anticipated project - Cleopatra Plaza in Alexandria."
Cleopatra Group was established in 1983, and has now become a world leader in the ceramic tiling sector, a conglomerate with an extensively diversified portfolio ranging from Agricultural, Tourism, Technological, Media and Real Estate sector. Cleopatra Group is now developing large residential and mixed-use projects with the goal to improve the lifestyle of customers and the quality of life of the Egyptian communities. Currently under construction and strategically located in 6th October City, Cleopatra Mall aims to set a new benchmark in mixed-use shopping and entertainment and is an innovative design by retail award winning, Design International. Opening in the third quarter 2017, with over 115,000 sqm of GLA, the mall will offer a comprehensive and balanced tenant mix with large areas dedicated to luxury, shopping, food & beverage, culture and entertainment. Its iconic design, described as 'a wave in the desert', will become a new Egyptian landmark and serve a population of over 20 million people.
Cleopatra Plaza is located in the heart of Alexandria, the second largest city in Egypt. The development is a mixed use combination of residential, commercial and an exciting new retail offering located in the city centre. The first four floors of the development are designated retail space, with a selection of service oriented outlets, an array of fashion, food & beverage as well as entertainment. This development will fill a large gap in a community that is presently not serviced in these areas.
"After entering the MENA region for the first time last year, this is a great honour to be appointed exclusively on such prestigious projects in Egypt. This proves, that it was the right decision to enter this market, open an office and transfer our vast experience to ensure growth and productivity, not just for Cleopatra Group but also within the wider community to create employment opportunities. " said Philip Evans, CEO of TGM.
Evans' continues "Our Dubai headquarters opened in October last year and is now fully operational across several key lines including Design Consultancy, Construction Management, Leasing, Marketing, Commercialization and Property & Facilities Management. Currently we have mandates in UAE, Pakistan and Egypt and we are in discussions with developers in Nigeria, Iran and Qatar."
Jihad Dirani, TGM's Director of Retail Leasing for the MENA region, stated, "To date, there has been a lot of interest in Cleopatra Mall from retailers not just in the Middle East but also globally and we are pleased to announce that LuLu Hypermarket has signed as a major anchor tenant covering 11,605 SQM GLA. "
LuLu Hypermarket, based in the UAE with a head office in Abu Dhabi, is the retail division of the multidimensional and multinational LuLu Group International, is known as a trend setter and the fastest growing, of the retail industry in the region. LuLu symbolizes quality retailing with 117 stores, 2.1 million SQM of retail space and is immensely popular with the discerning shoppers across the Gulf region. LuLu hypermarket is expected to make a new market entry in Cairo this year with Cleopatra Mall following in 2017 as their flagship store.
Dirani adds, "Further, we are currently in negotiations with multiple operators for the Edutainment, FEC and Cinema units as well as being in talks with some well-known department stores and luxury brands which will be announced in due course."
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About TGM
Central European based TriGranit is one of the largest fully integrated regional real estate investment, development and management companies in the region. Boasting a 20-year track record of excellence, TriGranit has developed an award-winning portfolio valued at Euros 2.5 billion, and has a pipeline of over Euros 4 billion of major mixed-use developments. With a more than 3 billion Euro portfolio of trophy assets managed, TriGranit welcomes over 60 million visitors every year and supports the success of more than 1,500 international cross-border tenants, establishing TriGranit as one of the largest and most renowned industry leaders in Europe.
TriGranit operates in Central and Eastern Europe, the Caucasus region, North Africa, as well in the Middle and Far East. By merging development skills and experience with property and facility management, TriGranit has created a very strong and unique combination providing a full suite of real estate development and management services. Capitalising on its 20 years of professional experience, TriGranit is well-positioned to participate in the expanding real estate markets. Some of the largest assets managed by TGM, WestEnd City Center, Budapest, Hungary with 23 million visitors in 2014, operating despite of the unstable economic environment with 100% occupancy rate. Bonarka City Center in Krakow, Poland, the other flagship in TGM portfolio has increased the number of its visitors by 4,4 % in 2014.
About Cleopatra Group
In the early 1980's, Egyptian Entrepreneur Mohamed Abou el Enein's ambition was to produce world-class tiles in Egypt. In spite of overwhelming challenges, he launched the Cleopatra Group with its flagship company, Ceramica Cleopatra in 1983. CCG quickly became a world leader in the ceramic tiling sector, but soon after started to diversify into the Agricultural, Tourism, Technological, Media and Real Estate sector. The mission of Cleopatra Group today is to proudly participate in the growth of Egypt and contributions to this cause have led Cleopatra Group to grow from an initial workforce of 400 to 14.000 dedicated people. Cleopatra Group is now developing large residential and mixed-use projects with the goal to improve the lifestyle of our customers and the quality of life of our community and bring the future to our doorstep. It includes a number of residential, mixed-use and retail projects, including Cleopatra Palace & Cleopatra Square in Cairo - 2 residential compounds, with retail components; Cleopatra Plaza Cairo and Alexandria - 2 residential developments; and Cleopatra Mall - a ground breaking retail and leisure complex in 6th of October City. Cleopatra Mall, the most prestigious project of the group, is aimed at a growing audience in Cairo and Egypt, which is young, educated and affluent, with a modern outlook on life, while being conscious of Egypt's cultural heritage and standing in the world.
About Lulu Group International
LuLu Group International today is a highly diversified entity with operations spanning a vast geographical landscape across 31 countries. Spearheaded by the retail division which is the fastest growing retail chain in the Middle East with a total retail space of over 2.1 million SQM. The Group operates 117 state of the art shopping malls and Hypermarkets with interests in Imports & re-Exports Houses, Meat Processing Plants, Garment Manufacturing Units, Trading, Shipping, IT, Travel & Tourism and Education. Based in the UAE with head office in Abu Dhabi, Lulu Group's activities today transcend geographical boundaries to reach India, United Kingdom, Hong Kong, Main land China, Thailand, Indonesia, Kenya, Benin, Tanzania, Egypt, Nigeria, Ghana, Ivory Coast, Spain, Brazil, Vietnam, Malaysia and other Middle East countries such as U.A.E, Oman, Qatar, Kuwait, Saudi Arabia, Bahrain. A true follower of ethical business practices, the Group is a key partner in the development of the community. For more information, please visit www.lulugroupinternational.com
For further information:
Nandini Vohra
Managing Director
The Guild
nandini@theguildpr.com
M: +971 50 457 8233
© Press Release 2015
