10th of Rammadan City, Egypt, May 2, 2024 -- Haier Smart Home (600690.SS, 6690.HK, 690D) officially inaugurated the Egypt Ecological Park, marking a significant step in deepening its market presence in the Middle East and Africa and another milestone in its global expansion.  

Spanning 200,000 square meters with a designed capacity exceeding 1.5 million units, the Egypt Eco-Park's first phase started in March with trial production of air conditioners and televisions. This month washing machines will be added, reaching a total production of more than 900,000 units per year. The second phase will include refrigerators, freezers, and other categories.

In a strategic move to bolster its presence in the Middle East and Africa markets, the Egypt Eco-Park stands out for its digital platform that enhances energy efficiency by monitoring and analyzing water, and electricity usage meticulously, among all elements and processes within the park.

The Egypt Eco-Park will support the local economy by creating over 2,000 jobs in the first phase. This ambitious project not only offers development opportunities to manufacturing and management talent but also generates a positive impact on the home appliance industry.

In its first phase, the Egypt Eco-Park will primarily supply the Egyptian market. Haier Smart Home has defined Egypt as one of its key strategic growth markets and will continue investing in introducing new products to supply the local demand for high-quality products.

The unique lifestyle habits and appliance needs of consumers across Middle Eastern and Africa regions have fueled demand for differentiated products – driving consumer preference for Haier Smart Home products, who offers washing machines specifically designed for the region, or air conditioners that can run with power generators. As a result, the company has grown three times faster than the rest of the industry.

The Egypt Eco-Park is expected to accelerate Haier Smart Home’s presence and growth in Middle East and Africa, by leveraging its world-class global supply chain to expedite market response to serve more customers and consumers in more parts of the region.