Kuwadico and Souq.com partner up for Grand Deal
- Egypt: Tuesday, September 11 - 2012 at 10:25
- PRESS RELEASE
KUWADICO, teamed up with Souq.com to launch a first of its kind e-commerce initiative in the Egyptian market. The lead developer of Grand Heights, KUWADICO publicly launched the "Grand Deal" on the 3rd August 2012.
Leveraging the equity behind the KUWADICO and Souq.com brands and their diverse client base, Grand Deal resulted in the completesale of the limited number of units on offer.
Mr. Karim Moustafa, KUWADICO's Chief Commercial Officer (CCO) commented on the huge success of Grand Deal saying, "This is an even better response than we initially forecasted. Selling 100% of the units on discountis a great success for both KUWADICO and Souq.com. However, the real success of Grand Deal is the fact that our strategy of using an online sales medium for transactions of this magnitude has proven its worth. To date, e-commerce in Egypt has been limited mostly to electronics. Grand Deal opened the door to unexplored territories, where larger commitments have been made possible."
The success of Grand Deal is beyond the unit sales. It goes to validate KUWADICO's recently adopted strategy of utilizing the power of the Internet and employing it as a key marketing tool. Pioneering new ways of doing business across the board, it has been KUWADICO's focus on online delivery systems that has allowed it to target and reach its chosen client segment.
Souq.com, an e-commerce pioneer in its own right, with their constant innovations in leveraging online tools, became the obvious choice for KUWADICO as a partner in Grand Deal.
Mr. Omar Soudodi, Souq.com's General Manager (CEO) said,"66% of Arabs buying online are value driven and "Grand Heights" Development offers just that to Souq.com members who bought the property online.
The Grand Deal page on Souq.com generated millions of page views and thousands of visits upon its pre-offer launch in mid July 2012. Since then, almost 90% of users have been scanning the terms of the agreement and inquiring further through KUWADICO and Souq.com's Call Centers.
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