Savills' applying place-shaping strategy to enhance growth at Arkan, Cairo

• Place shaping approach adopted to enhance the physical and social aspects of the project
• Establishment of Arkan as a game-changing lifestyle hub in West Cairo providing extraordinary experiences
• Over 70% of the retail units are leased including global brands making their first entry into Egypt
• Growing footfall with 10 million visitors per year expected once phase two is fully operational
• Arkan to grow from 38,000 sqm of mixed-use space to over 120,000 sqm once expansion completed in 2020

Egypt, Cairo: Savills Egypt, the leading global real estate consultancy with a presence in Cairo, today reported that Arkan, the highly regarded mixed-use development located in West Cairo, has witnessed unprecedented demand for retail space since being appointed to manage the development. Savills signed in Q1 2019 a joint-venture with Sphere Property Management which included the leasing and management of the Arkan development.

Arkan had already established itself as the place to be in West Cairo, and a prime location for business, retail and leisure for Sheikh Zayed City and beyond. Savills have therefore been focused on maintaining the same high-quality level of tenant in the extension that visitors have come to love at the existing scheme and ensure that the “soul” of the place is not lost. Arkan will have over 200 retail and F&B units and tenants in the extension will include a mix of the very best brands that Egypt has to offer, like Azza Fahmy, Maison 69, Crimson and Gourmet Egypt, as well as many making their first entry into Egypt, such as Les Realis de L’Entrecote.

Savills place-shaping experts took the principle that no two places are the same; each has its own history, purpose, and sense of community. The concept of place-shaping consists of developing a place that people feel connected with. This approach has been replicated to Arkan to bring together the physical attributes with the social experiences the destination can offer.

Catesby Langer-Paget, Head of Savills Egypt said: “Egypt is today the Arab world’s largest consumer market and one of the fastest growing economies in the region. According to research from Oxford Economics, the Egyptian retail market is expected to reach $157 billion by 2022, overtaking Saudi Arabia’s and making it the Middle East’s largest retail market. As the country continues its encouraging economic reforms, opportunities in the retail sector will remain predominant.” 

“Our role is to maintain and build on the success that El Badr have had in establishing Arkan a vibrant lifestyle hub in West Cairo by utilising the latest place-making trends. More than just a mall, we are providing a fully immersive environment with positive and productive workplaces complemented by world-class retail, entertainment and leisure options in a convenient location providing life around the corner. What we are offering to customers and visitors to Arkan is a distinctive, engaging and enduring place; capable of extraordinary experiences.”

Arkan is currently undergoing the last phase of its significant expansion. Once the extension is concluded in Q1 2020, the project will span over a total built-up area of 260,000 sq m and features 210 shops, 67 restaurants, 185 room hotel, 900 seat theatre, 47,000 sq m office space, 4,500 parking spaces and other key developments.

To make its vision for Arkan a reality and raise the bar in Cairo, Savills also benefited from the expertise of James Bailey who joined the team earlier this year as Client Services Director.

“Having managed major schemes in the UK for more than 20 years, the change in use of space, particularly with an increased focus on restaurants and leisure is profound.  At the time of conception, Arkan was a benchmark in quality for the Egyptian market. Arkan’s extension will add significant new attractions and reasons to visit the already well-established existing asset, maintaining the scheme’s competitive edge and setting it aside from other locations.  The dynamic mix of leisure, offices and retail, and the creation of a differentiated guest experience; will enhance Arkan’s reputation as a unique and special location for guests and businesses. The project enjoys a brand mix including major attractions to avoid the risk of clone schemes, offering new and different experiences. The plans were shaped in a way that allows individuals, friends and families to spend more time and enjoyment within Arkan’s unique environment”, said Bailey.

Arkan hosted earlier this month an event called ‘Connection Cairo’, an art and photography exhibition organised and managed by Gyptian – a newly established platform for art, photography, and culture in Egypt – and the event organiser Inka. Through this successful exhibition which attracted an important number of visitors from across the capital, Arkan showcased the importance of promoting and sponsoring art and photography projects in Egypt, and the positive impact the art can have on society. This event was quickly followed by Christmas Destination, the launch of which led to the highest recorded number of daily visitors in Arkan’s history.

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About Savills

Global property agents Savills provide an extensive range of residential and commercial services across the United Arab Emirates, Oman, Bahrain, Egypt and Saudi Arabia. Established in the Middle East over 40 years ago, expertise includes everything from financial and investment advice to valuation, planning, and property management. Originally founded in the UK in 1855, Savills has a long-standing history and over 600 offices across the Americas, Europe, Asia Pacific, Africa, and the Middle East.

For further information about Savills: www.savills.com 

For Savills Egypt: www.savills.com.eg 

About Savills Place-Shaping

Savills Place-Shaping & Marketing has a team of over 60 place-shaping specialists based in the UK. The combined skill offers support to the development and management of town and city centres, retail and leisure complexes, commercial areas, and Business Improvement Districts (BIDs). The range of services help to develop a place people feel connected to.

Media Contact:

TOH PR
savills@tohpr.com 
+971(0)4 382-8900

© Press Release 2019