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Wednesday, 1 August 2018

Egypt, Saudi Arabia, UAE, and Oman top investment destination for MAF Group, CEO says

INVESTMENT WATCH- Egypt, Saudi Arabia, UAE, and Oman are currently the top investment destinations for the Majid Al Futtaim (MAF) Group as it continues to pursue expansion plans in the region, CEO Alain Bejjani tells Bloomberg in an interview (watch, runtime: 5:42 or read here). The company’s regional expansion plans is focused on high-demand market such as Egypt, where it’s currently working on building 100 new Carrefour stores in industrial zones across the country, with the first set to be established in Ismailia.

MAF is also building a USD 13.6 bn mixed-use development in Muscat in partnership with the Omani government and trying to capitalize on the introduction of movie theatres in Saudi Arabia with some 600 cinemas and a number of new malls planned, according to Bejjani. The company has also been expanding its presence in Kenya and eyeing more business in neighboring East African countries, he adds.

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