May 22, 2017

Carrefour opens second store in Beirut

Carrefour, a French supermarket chain franchised by Majid Al Futtaim, is set to open in September a branch at City Mall, Dora. Located on the ground floor, the store will have a total space of 7,000 square meters (m2).

This is the second branch in the market.

Carrefour will fill the gap left by French supermarket chain Monop’, which currently operates out of City Mall, and The Sultan Center (TSC), which exited the mall some time ago. Monop’ is a Monoprix concept that is franchised by Michel Abchee, owner of Admic, which operates City Mall. The store was originally introduced as a pop-up store.

Carrefour entered the local market in 2013 when it began operations at City Centre Beirut, in Hazmieh.

Majid Al Futtaim was in recent talks to purchase local supermarket chain Le Charcutier Aoun and rebrand it as Carrefour, but talks have since stalled.

Carrefour is planning to open a major outlet at Waterfront City, Dbayeh, which is being developed by Majid Al Futtaim.

According to InfoPro Research, the average leasing price of a store at malls in Beirut range between $800 and $1,000 per m2 per year. Large sizes are generally offered at cheaper rates.

Source:

businessnews.com.lb

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