Middle East’s leading retailer projects US $40 million investment into Morocco. An estimated 300 new local jobs to be created over five years. Seven international brands to launch in Casablanca in 2011, boost to country’s fast-developing retail sector.
13 June 2011: M.H. Alshaya, one of the Middle East’s most dynamic and successful retailers, today announced the expansion of its operations into Morocco. Alshaya will open its first stores in Morocco in conjunction with the completion of Morocco Mall in Casablanca which is scheduled to open in the last quarter of 2011. Further expansion is being planned in additional locations and Alshaya’s entry into Morocco will provide a further boost to the country’s fast-developing retail sector.
Alshaya will introduce seven leading international brands into Morocco greatly expanding the choice available to local consumers. Five fashion and footwear stores; H&M, American Eagle Outfitters, Next, Payless Shoesource and children and baby retail brand Mothercare, will be joined in the mall by Starbucks and Pinkberry.
The expansion into Morocco represents a projected investment of US$ 40million by Alshaya into the country over the next five years. The company expects to create an estimated 300 new jobs in the country across stores, logistics and support functions such as Property, IT, HR and finance, creating significant opportunities for career and human capital development.
Commenting on the expansion Mohammed Alshaya, Executive Chairman of Alshaya, said: “With the country’s first significant modern mall development nearing completion we are delighted that Morocco is now set to be part of Alshaya’s ongoing growth story. Our investment into the market represents an exciting new opportunity for us and will also support the evolution of Morocco’s retail sector, creating employment and skills development opportunities for local people.
Morocco will represent the second North African market for Alshaya. The company has been operating in Egypt since 2006. Since then, the company has introduced 11 leading international retail brands to Egypt and employs 700 people in over 50 stores with over 20,000m2 of retail space in Cairo, Alexandria and Sharm El Sheikh.