MAF to pursue Egypt growth as retail recovers


January 28, 2015 | By RetailME Bureau

Dubai-based Majid Al Futtaim (MAF) Retail, holding Carrefour’s franchise for the Middle East, plans to pursue expansion in Egypt after business at a shopping mall in Cairo’s suburbs recovered from looting during the 2011 revolt that ended Hosni Mubarak’s rule.

“There is probably no worse challenge than 2011 when the mall was looted,” says Iyad Malas, MAF Holding CEO. “We decided to reinstate the asset. All the tenants have come back, trading has come back and the situation is better than pre-crisis level.”

“Egypt continues to be a big investment market,” Malas states. That’s why MAF plans to open another mall, Mall of Egypt, in the first quarter of 2016. It will also start construction on a project near Cairo’s airport this year and expand its existing mall in the country.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



It is the final week of the 27th edition of the Dubai 

Continue Reading

January 21, 2022 | By RetailME Bureau

Foodlink Global Restaurants & Catering Services, the F&B services enterprise in India 

Continue Reading

December 29, 2021 | By Zubina Ahmed

‘Tis the time to be jolly! The festive season is back. Celebrate 

Continue Reading

December 19, 2021 | By RetailME Bureau

“It sounds like this, Luh Pan Koh-ti-dyan and means ‘the daily bread’, 

Continue Reading

December 6, 2021 | By Zubina Ahmed

The long weekend might be over but the Etisalat Beach Canteen 2021 

Continue Reading

December 5, 2021 | By RetailME Bureau

UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau

Amazon.ae announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley




Download Images RetailME Magazine