Al Ahly Sabbour Development has signed a Memorandum of Understanding (MoU) for a new hypermarket branch of Spinneys Egypt in “The City of Odyssia,” the developer’s flagship project in east Cairo’s Mostakbal City, Invest-Gate reports.

Under the deal, Spinneys Egypt will open the 3,000-square-meter supermarket to present occupants of Mostakbal City and neighboring areas with an assortment of cost-effective retail services at The City of Odyssia, nestled within a prime location at the Central Business District, according to the company’s press release on August 27.

During the signing ceremony, Spinneys Egypt CEO Mohanad Adly underlined, “This collaboration is a new chapter in the success story written by Spinneys and Al Ahly Sabbour,” explaining, “Last year’s launch of the first Spinneys supermarket on the North Coast was a major step for both businesses, as Spinneys was able to successfully provide retail products and services to residents at Al Ahly Sabbour’s gated beach community, ‘Amwaj.'”

On his part, CEO of Al Ahly Sabbour Ahmed Sabbour stated, “We seek to collaborate with high-profile, reputable organizations in different fields with the aim of providing the highest quality of services and benefits to our customers … Spinneys is a significant addition to ‘The City of Odyssia,’ which will bring unprecedented urban development to this vital area.”

“This agreement with Spinneys is the first of many that the company plans to introduce at The City of Odyssia’s Central Business District, especially considering the tremendous significance of the project. It is our most important one to date, one that adds more value to our 25 years of achievements,” Sabbour elaborated.

In 2018, Al Ahly Sabbour announced the launch of “The City of Odyssia,” which is a new mixed-use compound being developed over an area of 578 acres and is set for completion starting from late 2022, coming with investments worth EGP 29 bn. It is planned to be established over seven phases; three of which are called “The Ridge,” “Alaire,” and “Alaire Park,” and were earlier released to feature several residential and non-residential components.