Building the future
We look beyond the present to build the future
After unveiling its first LeMall in Sin el Fil in 2009, Saida 2010 and Dbayeh 2012, Acres Holding has already begun work to launch two new LeMall branches in Jbeil by 2020 and Tripoli by 2022.
The market’s current performance has not been promising due to obvious factors such as the war in Syria, the regional crises and the ongoing local political instabilities. In addition, the recent increase in the salary scale of the public sector drove down consumers’ purchasing power in the private sector.
We believe this downward trend may most likely continue for another two years at least; nevertheless, our decision to develop two new malls, at this time, was founded on our assessment of market indicators and the expected improvements in the long run.
We believe that by 2020, some much-needed developments may occur that would drive the economy forward and improve consumers’ purchasing power such as the hopeful advances in the oil extraction portfolio, the expected governmental reforms that should accompany the CEDRE forum and the hopeful cessation of hostilities in Syria that would greatly affect us.
We firmly believe that now is the time to proceed with our expansion strategy and we also believe that, despite the countless challenges ahead, we are prepared and remain optimistic.
Source: Executive magazine