Al-Futtaim to Raise Its Investment in Egypt to EGP16.5 bln

 The Egyptian Cabinet has revealed the results of the meeting between Eng. Osama Saleh, Minister of Investment and CEO of Majid Al Futtaim Group, the largest developer and operator of shopping malls and hypermarkets in the MENA region as Al-Futtaim is aiming to increase its investments in Egypt up EGP 16.5 billion within 5 years.

The Minister has explained that Al-Futtaim asserted during the meeting to raise the volume of its investments in Egypt in the coming period, and to review establishing fresh projects throughout exploiting some spare areas which owned by the group in Egypt in order to build many largest commercial centers in various sites across republic.

Saleh said the implementation of Al-Futtaim’s  some future plans will create many new job vacancies for youths, as it is expected to reach 12.753 direct opportunities and 82.187 indirect opportunities.