English Podcast Intro Real Estate Development Business
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Language
EnglishVoice Age
Young Adult (18-35)Accents
North American (General)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
where we go to buy our stuff has changed over the years. You see, we love convenience. And since the 50s, Moss gave us just that they offered people the ability to buy everything they need and socialize all in one place and for the longest time, this business model was quite successful. But when E Commerce was introduced in the 90s, consumer expectations for shopping change. Online retailers could offer you deals lower prices and send you targeted ads while you shop from the comfort of your couch and socializing in malls. Well, that's become a teenage movie through now, malls in the West are seeing a sharp decline weighed down by large overheads logistical changes for expansion and the quest to stay socially relevant. But if you're hearing this and thinking this doesn't make any sense. My local malls are doing just fine. You're not alone. That's also what's surprising us. I mean, look at Dubai, it's practically a series of interconnected malls. And in Egypt we have more brands whose growth doesn't seem to be slowing down. So how is retail in emerging markets surviving in the age of online commerce? And how will it continue to survive? We take these questions on bricks and clicks to ahmed's made the ceo of properties Mohammed's responsibilities include managing the company's malls, hotels and communities as well as the project management business measure. The long term investment view on Egypt meant they were able to absorb economic on earth and evaluation while proactive measures they took during the covid pandemic allowed them to preserve their jobs and salaries. So as brick and mortar retail declines in the west against same day, shipping, Ahmad tells a different story in emerging markets, where options of socializing and entertainment are much less saturated and new developments require community anchors. We discuss how the retail industry must adapt in the world of e commerce and the evolving nature of the landlord tenant relationship as well as the company's data driven approach to providing experiences to its customers. We also explore the impact of the company's real estate developments as well as their ambitious plan to become carbon net positive by 2040. And yes, we do ask about the giant ski slope in the middle of the desert. Here's Ahmad, speaking with Hashem or executive editor and coast of making it.