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Nov 06 2011

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F-Mart convenient stores to open in Dubai soon

Families Group to invest Dh2bn in each store; plans 15 outlets in Dubai Marina, Burj Khalifa and other high-end locations
F-Mart, a new chain of high-end convenient stores will be established by an Indian supermarket chain. The first such outlet on a 3,000 square feet shopping space is coming up near Burj Khalifa , the world's tallest tower.

Mohammed Soopy E, Chairman and Managing Director, Families Group that runs a chain of supermarkets in different parts of the UAE said the group will invest Dh2 million in each F-Mart stores that will introduce a new chain of shopping boutiques catering to the affluent residents of Dubai.

"This will be like a convenient store at Emarat petrol stations where prices will be a bit higher than the normal rates, because customers will not mind paying an extra premium from convenient stores. We will have a range of products catering European, American and Asian expatriates. We will have a chain of 15 such stores in Dubai Marina, Burj Khalifa and other posh locations, said Younus Mohammed, Chief Executive Officer, adding that the F-Mart stores near Burj Khalifa will be dedicated to deliver goods at the Burj Khalifa residential units.

"We have not calculated the total investment plan, but each F-Mart shop will cost Dh2million each and a franchisee model may also be followed," he added. "These convenient stores will be different from express retail chains started from big groups like Carrefour of Lulu which are miniature forms of their big markets.

While they have all the items from A to Z needed for a middle class family, we will be keeping only selective items needed by the target group. It will be boutique style convenient stores," he added. The Burj Khalifa outlet will be inaugurated soon, he said.

The Families group from South India, runs a chain of 12 supermarkets and will inaugurate its first hypermarket . "We are opening our first hyper market near the National Paint Round About in Sharjah, targeting the family customers and bachelors. "The new hypermarket is a 20,000 square feet market and it will be opened on Friday, October 28, 2011. There will be initial offers and we expect a big crowd on the first day. In order to control the crowd we have appointed a group of bouncers and security guards," said Younus.

"The rent and other cost of opening a new hypermarket has come down and it is an ideal time for us to expand. The new 200,000 square feet Families Hypermarket In Sharjah National Paints will be another landmark in the area.

The group has started business as Al Madina group has later branched out to several brothers and family members and now controls the Families Supermarkets and Hypermarkets Chain. The group is also active in catering, restaurants, real estate, travel and tourism, groceries and retail chains here and back home. "We have taken over the Families Supermarket chain from a business group in 1975. The retail name has been present in the UAE since 1968.