Majid Al Futtaim Launches 100th Store in Egypt; Investments Cross $2.5bln

Egypt - Majid Al Futtaim opened its 100th retail store in Egypt and the first Carrefour store in the Governorate of Suez, according to a press release.

The group is expanding its footprint across strategic locations and providing accessible, high-quality products and services to contribute to achieving social and economic well-being in line with Egypt Vision 2030.

Spanning 900 square meters, the new Carrefour store offers over 7,000 high-quality products, ranging from fresh and frozen foods to bakery items, household essentials, and home appliances.

Major General Tarek Hamed El Shazly, Governor of Suez, commented: “This achievement reflects the value of public-private partnerships in advancing social and economic development in Suez, and demonstrates a shared commitment to ensuring market stability, creating new job opportunities, and enhancing living standards, in alignment with the directives of President Abdel Fattah El-Sisi.”

Gunther Helm, CEO of Majid Al Futtaim Retail, said: “Over the past quarter-century, our investments exceeding $2.50 billion have not only reinforced our commitment to the nation’s economic development but have also facilitated the creation of more than 144,000 direct and indirect employment opportunities.”

Majid Al Futtaim currently operates its retail business across 18 governorates, offering more than 25,000 products to meet the diverse needs of Egyptian customers nationwide.

Last April, Majid Al Futtaim launched its Junction project, next to the Mall of Egypt in West Cairo, with investments of EGP 15 billion.