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Sunday, 8 December 2019

Majid Al Futtaim to invest EGP 44 bn in Egypt, inaugurates USD 580 mn City Center Almaza

INVESTMENT WATCH- Majid Al Futtaim to invest EGP 44 bn in Egypt in the coming years: Dubai-based real estate developer and retail giant Majid Al Futtaim (MAF) will invest EGP 44 bn in Egypt in the coming years, CEO Alain Bejjani said, according to a cabinet statement. Bejjani had told Reuters last week that MAF plans to invest EGP 16 bn in Egypt in the next 2-3 years. Bejjani made the announcement during the official opening of MAF’s USD 580 mn City Center Almaza shopping mall in Heliopolis on Thursday, which was inaugurated by Investment Minister Sahar Nasr and Emirati Environment Minister Thani Al Zeyoudi.

Bejjani and an MAF delegation also met with Prime Minister Moustafa Madbouly on the day of the inauguration, according to a cabinet statement.

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