UAE’s Majid Al Futtaim eyes Egypt investments of 23 bln pounds by 2020

Dubai-based developer  Majid Al-Futtaim (MAF) aims to double its investments in Egypt to register 23 billion Egyptian pounds($1.2 billion), in order to create 144,000 direct and indirect job opportunities by 2020.

Omar El Banna, Marketing & Business Development Director at Majid Al Futtaim -Egypt, said that his company pays close attention to the Egyptian market that has witnessed significant improvement in the investment climate.

He added that VOX Cinemas, a movie theatre chain operating in the Middle East affiliated to MAF, has captured City Center Alexandria cinemas complex, as a first step of many to come to expand in Egyptian market.

Moreover, El Banna noted that VOX Cinema Alexandria will open its doors to the public after completing the development works next february.

VOX Cinema Alexandria project comes only after six months of opening VOX Cinema at Mall of Egypt last March as part of MAF ambitious plan to increase its investments.