Despite the global economic crisis, the Super 99 and Rey Group, two leading supermarket chains in Panama, do not stop their expansion plans. Both giants finishing touches to start the construction of nine additional branches, which must be completed in 2010 and expand the supply of food in different places of the capital city and the countryside. While the Super 99 plans to build four new branches within the next two years, the King Group prepares to build five branches, mostly in the capital. Friday, January 16, 2009
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THE KING AND THE SUPER 99
Despite the global economic crisis, the Super 99 and Rey Group, two leading supermarket chains in Panama, do not stop their expansion plans. Both giants finishing touches to start the construction of nine additional branches, which must be completed in 2010 and expand the supply of food in different places of the capital city and the countryside. While the Super 99 plans to build four new branches within the next two years, the King Group prepares to build five branches, mostly in the capital.
Super 99 Despite the global economic crisis, the Super 99 and Rey Group, two leading supermarket chains in Panama, do not stop their expansion plans. Both giants finishing touches to start the construction of nine additional branches, which must be completed in 2010 and expand the supply of food in different places of the capital city and the countryside. While the Super 99 plans to build four new branches within the next two years, the King Group prepares to build five branches, mostly in the capital. inside
With 35 Super 99 and two Mega Depot, chain owned by businessman and presidential candidate, Ricardo Martienelli, is one company that has the largest number of supermarkets in the country, but despite this progress in its plans to open new stores in 2010 in Coronado Mall, Vacamonte, Valle Arraiján and beautiful in Boquete, according to Luis Enrique Martinelli, director of the importer Ricamar, SA Although Martinelli believes that the global crisis will affect the sale of food and all the retail in Panama, believes that the Super 99 will fit in sales growth over the coming years.
"We are very optimistic and continue to invest in new facilities, new technologies and human resources, "said the businessman. The businessman explained that to realize this expansion Ricamar Importer, SA will invest about $ 15 million and that once the new premises are in operation will enable them to generate a total of 500 direct jobs. Taken
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But the Super 99 are the only ones who will experience a process of business expansion, and its main competitor, the Grupo Rey not be left behind, because by 2010 hopes to build five new branches further. Projections of this company include the construction of public Rey Supermarket Balboa, which will be located in the old YMCA building, and King Versailles, to be built in the new commercial center of the Private Versailles in the area of \u200b\u200bJuan Diaz. Balboa King will feature over 4,000 square meters (m2) of construction and address the needs of residents of Ancon, Balboa and the Old Town, in addition to the Panamanians who are traveling within the country through the Bridge of the Americas. Versailles King will be the first supermarket of the chain in the area of \u200b\u200bJuan Diaz, benefiting communities and Ciudad Radial, Costa Azul, Don Bosco and La Riviera, among others.
King
These two new supermarkets in addition to King Chitre, Rey Centennial Park and Barrio Bolivar Romero supermarket already under construction, ie in total there are 5 new stores that the company expects to open in 2010. So far the King Group consists of 37 supermarkets, 18 Supermercados Rey, ten and nine Romero Mr. Price.
These two new supermarkets in addition to King Chitre, Rey Centennial Park and Barrio Bolivar Romero supermarket already under construction, ie in total there are 5 new stores that the company expects to open in 2010. So far the King Group consists of 37 supermarkets, 18 Supermercados Rey, ten and nine Romero Mr. Price.
is estimated that the construction of a new market is influenced by many factors such as length and location of the project, but the average cost for land purchase and construction is about $ 2.5 million. To this we must add all the work and equipment required to mount the store (refrigerators, boxes, shelves, air conditioners, etc..), Estimated at approximately $ 5 million, making a total of $ 7.5 million per facility. With these investments, the supermarket king expects to generate about 600 direct jobs, out of all the indirect jobs are generated in different areas by the construction of these facilities.
Conforming
In recent years, Supermercados Riba Smith made great strides, going from two to four supermarkets, which were established in strategic sites in the capital and the Mall Multiplaza Pacific and East Coast. Carlos Ramon Smith, vice president of the supermarket chain, said they are quiet for now, but said it must define its partners which will be the steps in this chain for years to come.
In recent years, Supermercados Riba Smith made great strides, going from two to four supermarkets, which were established in strategic sites in the capital and the Mall Multiplaza Pacific and East Coast. Carlos Ramon Smith, vice president of the supermarket chain, said they are quiet for now, but said it must define its partners which will be the steps in this chain for years to come.
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