REGIONAL ROUND UP FEATURE - EGYPT
THE FUTURE OF
RETAIL MARKET IN EGYPT Mohamed Galal is the Founder of TSM, a leading Egyptian Company in Mall Management and Retail Development operating in Egypt. Currently, Mohamed is the President & CEO of TSM Mall Management. He is an expert in managing commercial and mixed-use projects in Egypt and has taken the lead in establishing shopping malls in the secondary cities of Egypt. He is a renowned industry member and is contributing to several successful mall developments and retail launches.
E
gypt is a transcontinental country spanning the northeast corner of Africa and the southwest corner of Asia by a land bridge formed by the Sinai Peninsula. Cairo is the country’s capital and largest city. With over 100 million inhabitants, Egypt remains a sizeable market for retailers and fast-moving consumer goods manufacturers. This has sustained several large domestic producers and attracted global heavyweights to the market. The economic instability and the devaluation of the pound have brought new challenges and a need for the sector to adapt to remain competitive. Modern retail areas are nevertheless expanding, and customers are increasingly interested in interacting with retailers through new
RETAIL PEOPLE . MAY - JUL 2022
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MOHAMED GALAL
President & CEO TSM Mall Management MECS+R Regional Representative - Egypt
technologies, bringing new opportunities for the sector to expand to cater to changing consumer trends. The heavy consumer habits of Egyptian consumers and the underserved commercial space offered in secondary cities are great motives for real estate developers and retailers to continue to expand. Despite COVID contraction all over the world, the impact in Egypt was less drastic. The Egyptian Government continued the road network development plan and succeeded in executing more than 1,000kms of highways, connecting flyovers, and intercity junctions, availing new prime retail space opportunities for rent for new local retailers and F&B operators.
