Majid Al Futtaim to invest $1.5bn in Saudi, Egypt expansion plans

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Dubai-based Majid Al Futtaim (MAF) CEO Alain Bejjani has revealed ambitious expansion plans, which include a $996.26 million investment in Egypt and a further $533.6m in Saudi Arabia. Bejjani told Reuters that the company’s investment, which will be spread over the next two to three years, is set to include $866m on a single mall in Cairo. Further expansion plans include opening seven Carrefour locations in Uzbekistan in 2020 and to open a Carrefour in Uganda on December 16, which will be the company’s first investment there.


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