The Arab Palestinian Shopping Centers Company, which will be opening the PLAZA shopping center, and the Palestinian Enterprise Revitalization Project (ENASH) signed a cooperation agreement that will enable qualified PLAZA rental applicants to receive a wide range of highly subsidized business consulting services.
The goal of the agreement is to assist PLAZA tenants operate successfully in the first modern retail shopping center in Palestine. The business consulting services provided by ENASH will be made available to all PLAZA tenants and will take place in full cooperation with PLAZA management.
Interested retailers may visit the PLAZA Shopping Center located in Al-Bireh next to the Ministry of Planning and International Cooperation to file an application for rental space. PLAZA General Manager Sam Bahour, pointed out that, “in addition to significantly reducing our rental rates as of February 1 to accommodate the difficult business environment, we are excited about the ability to partner with ENASH to provide highly subsidized business consulting services to our prospective tenants.”
“It is in the strategic interests of our tenants and PLAZA to ensure that all of our tenants have the skills and plans in place to setup proper retail stores and sustain their businesses during the current market crisis and beyond. Additionally, I am proud that the ENASH business consulting services will be provided by a team of qualified Palestinian business professionals with access to any needed international support.”
The business consulting services will be available to all screened prospective tenants identified by PLAZA management. The business consulting services provided by ENASH will include a wide range of technical assistance including: performing feasibility analyses, diagnostic studies, business planning, promotional planning, store layout planning, floor management, customer service improvement, business development, accounting training, and financial management planning.
Said Abu Hijleh DAI Country Director/ ENASH acting Chief of Party noted that, “we view the establishment of PLAZA during such challenging market conditions as a clear indication that the
Palestinian marketplace has a built in resilience to recover from the current crisis. We see our support of prospective PLAZA tenants as a tangible contribution to the upgrading of one of the historic and future pillars of the Palestinian economy, retailing. PLAZA will bring the Palestinian retailing market into the 21st century and ENASH wants to ensure that those wanting to participate in this effort be prepared to meet the business challenges.”
For those prospective tenants that can justify the need, ENASH will extend its efforts to facilitate equity or loan financing. With regards to financing, ENASH’s role is to support the tenant in facilitating financing and not providing the financing directly.
Although the business consulting services provided by ENASH are optional for PLAZA applicants, PLAZA management will strongly urge prospective tenants to use these services to reduce the risks involved with establishing a modern retail business, especially during these very competitive and volatile times.
The Arab Palestinian Shopping Centers P.L.C. is a national, publicly traded, Palestinian retailer committed to establishing and operating modern shopping plazas, full-scale supermarkets, food courts and modern children play areas, all aimed at upgrading the Palestinian shopping experience through providing world-class customer service, convenience, quality products, and value pricing – all within a clean, spacious, and dynamic facility in order to provide all customer’s daily needs ‘under one roof’ and contribute to the building of the Palestinian economy.
ENASH is a USAID-funded three-year project initiative established in September 2002 to invigorate economic growth and job creation by stabilizing and revitalizing firms. ENASH will accomplish this goal by providing crisis management and technical assistance support that is critical to the survival and long-term competitiveness of firms that have long-term growth potential.
ENASH specifically targets the "missing middle," those enterprises not benefiting from micro-enterprise programs as well as those with limited access to traditional bank financing. ENASH is implemented by Development Alternatives, Inc. (DAI), an international consulting firm, which has
been implementing the USAID-funded Market Access Program (MAP). — (menareport.com)
© 2003 Mena Report (www.menareport.com)
