Majid Al Futtaim: Carrefour to open 20 new stores in Egypt before year-end

Dubai-based mall operator Majid Al Futtaim announced on Thursday it plans to inaugurate 20 new Carrefour stores in Egypt before the end of this year.

The new stores will be with investments worth 700 million Egyptian pounds ($40.8 million).

During the first quarter of the year, Majid Al Futtaim had already opened four stores of anticipated 20. They are located in Asmarat, Zagazig, Sixth of October’s Beverly Hills, and Rehab cities.

The remaining 16 stores will be opened in Almaza district, Damanhour and Mansoura cities as well as areas in Cairo, Alexandria, Beni Suef governorates.

Majid Al Futtaim had earlier signed an agreement with the country’s National Service Projects Organisation (NSPO) to open a new Carrefour branch in Ismailia city within the next few years.