Majid Al Futtaim targets to open 3 Carrefour branches in New Administrative Capital

Company inaugurates first integrated mall in Ismailia with investments of EGP 200m

Majid Al Futtaim, the shopping mall, communities, retail, and leisure group across the Middle East, Africa, and Asia, and the operator of Carrefour brand in Egypt, targets to open three new Carrefour branches in the New Administrative Capital, as well as expand all new cities, according to Herve Majidier, COO at Majid Al Futtaim Retail.
He told Daily News Egypt that the group always believes that Egypt is much more than Cairo and Alexandria.
"Thus, we are now present in Sharm El-Sheikh, Tanta, Hurghada, Zagazig, Ismailia, Aswan, Minya, Assiut, and Luxor," he continued.
Majidier mentioned that there are negotiations with the ministry of supply and internal trade for the development of two consumer complexes in the coming period in light of the ministry's plan to develop these complexes to raise their efficiency.
His remarks came on Thursday during the company's inauguration for the first integrated commercial mall in Ismailia with investments worth EGP 200m.
The mall covers an area of 14,000 sqm, offers 14 different brands while creating 1,000 direct and indirect jobs.
This new expansion in Ismailia is considered its first of 100 Carrefour locations as part of a joint initiative with the National Service Products Organization and the ministry of investment and international cooperation of Egypt.
The Carrefour retail outlet is part of the Egyptian government's ongoing development projects in Ismailia launched recently under the auspices of President Abdel Fatah Al-Sisi.
Concerning the plan of 100 Carrefour locations, Majidier stated that they plan to add this year 15 new branches in Cairo, Delta, the Red Sea, Qena, and Alexandria, bringing the number of branches in Egypt to about 60 by the end of this year.
He pointed out that there is a framework agreement with the ministries of supply and housing in order to expand the establishment of branches, but the contract of each branch is separately signed.
Commenting on the inauguration in Ismailia, Majidier, stated that “Egypt is an important market for our business and this first step of our partnership with the National Service Projects Organization and ministry of investment and international cooperation is a strong indicator of our commitment to grow our presence. With 100 new branches in the pipeline in addition to our existing locations, we remain on track to reach more of our customers nationwide, thereby fulfilling our vision of creating great moments for everyone every day. We will reach 60 operating stores by the end of this year alone."
“In addition to our expansion strategy we also have a strong environmental and social commitment,” said Jean Luc Graziato, Carrefour Egypt country manager at Majid Al Futtaim Retail.
“This is why we have been selected to be part of the Egyptian government's development and transformation strategy. The company's involvement in the development of the city of Ismailia and the inauguration of the first commercial mall in the city is one of the most significant steps we have taken to highlight our contribution toward the implementation of the vision of Egypt 2030, ” he added.
Majid Al Futtaim owns and operates 25 shopping malls, 13 hotels, and four mixed-use communities, with further developments underway in the region. The company is the exclusive franchisee for Carrefour in 37 markets across the Middle East, Africa, and Asia, and operates a portfolio of more than 270 outlets in 15 countries.