Grand Deal An Instant Success As Discount Units At Grand Heights Sold Out
KUWADICO, teamed up with Souq.com to launch a first of its kind e-commerce initiative in the Egyptian market.
The lead developer of Grand Heights, KUWADICO publicly launched the "Grand Deal" on the 3rd August 2012. A limited time offer on an exclusive number of Grand Heights' Row Units sold at a 10% discount.
Leveraging the equity behind the KUWADICO and Souq.com brands and their diverse client base, Grand Deal resulted in the completesale of the limited number of units on offer. Mr. Karim Moustafa, KUWADICO's Chief Commercial Officer (CCO) commented on the huge success of Grand Deal saying, "This is an even better response than we initially forecasted. Selling 100% of the units on discountis a great success for both KUWADICO and Souq.com. However, the real success of Grand Deal is the fact that our strategy of using an online sales medium for transactions of this magnitude has proven its worth. To date, e-commerce in Egypt has been limited mostly to electronics. Grand Deal opened the door to unexplored territories, where larger commitments have been made possible."
The success of Grand Deal is beyond the unit sales. It goes to validate KUWADICO's recently adopted strategy of utilizing the power of the Internet and employing it as a key marketing tool. Pioneering new ways of doing business across the board, it has been KUWADICO's focus on online delivery systems that has allowed it to target and reach its chosen client segment.
Souq.com, an e-commerce pioneer in its own right, with their constant innovations in leveraging online tools, became the obvious choice for KUWADICO as a partner in Grand Deal. Mr. Omar Soudodi, Souq.com's General Manager (CEO) said,"66% of Arabs buying online are value driven and "Grand Heights" Development offers just that to Souq.com members who bought the property online.
The Grand Deal page on Souq.com generated millions of page views and thousands of visits upon its pre-offer launch in mid July 2012. Since then, almost 90% of users have been scanning the terms of the agreement and inquiring further through KUWADICO and Souq.com's Call Centers.
For more information please visit the Grand Deal Webpage at: http://cms.souqcdn.com/spring/egypt/emailshoot/2012/Grand_Deal_NL/Grand_Deal.html
About KUWADICO
Kuwait's National Real Estate Company (NREC) in a joint partnership with Egypt's Wadi El Nil Company, have established KUWADICO. Bringing together the innovation and vision gained from extensive regional achievements, KUWADICO was founded to develop Grand Heights, a pioneering venture in suburban living. NREC has been a real estate investment and development pioneer since 1973 and listed on the Kuwait Stock Exchange since 1984. Founded with a capital of KD5 million, NREC has grown into one of the largest real estate companies in Kuwait with assets and capital now exceeding KD495 million (US$ 1,780Million) and KD81 million (US$ 291 Million), respectively, to become one of the most reputable and actively traded companies in the KSE. Wadi El Nil is one of Egypt's leading real estate developers with various complete projects throughout Egypt already under its belt. Wadi El Nil was established in the context of social responsibility and civic engagement. It is most famous for owning and operating the Wadi El Nil Hospital, one of the leading medical facilities in Egypt. Spearheading an initiative to develop Egypt, Wadi El Nil continues to invest in its expansion into various real estate ventures.http://www.kuwadico.com
About Souq.com
Souq.com is the largest online retailer in the Arab world, providing buyers and sellers with a convenient, competitive and safe shopping experience, across the widest selection of brands and products in the region.From humble beginnings in 2005, Souq.com now attracts over 7.5 million unique visitors per month - a figure which is growing in double digits monthly - from countries across the Middle East and North Africa. Headquartered in Dubai, Souq.com offices spread in other countries of the region like Kuwait, Jordan, Kingdom of Saudi Arabia and Egypt.Customers benefit from easy access to great deals every day on Souq.com, which offers a range of payment options to suit customers' preferences, with door to door delivery on purchased items. Souq.com is responsible for and manages the entire purchase process, tracking the shipped merchandise and verifying its delivery and only when the customer approves the item is the seller paid, making Souq.com the Arab world's most trusted online shopping destination.For businesses, Souq.com is the regions e-commerce partner of choice, with branded online retail stores and easy payment methods for buyers. Souq.com supports businesses' needs, including marketing; cash flow and product distribution; consultancy and advice on e-commerce; and mentorship for entrepreneurs.http://www.souq.com
© Press Release 2012
