Cairo – Mubasher: Majid Al Futtaim Group is planning to open 100 new branches of Carrefour Market across the governorates of Egypt, CEO Alain Bejjani said.

The UAE-based group will inaugurate the first new store in the Suez Canal city of Ismailia, Bejjani added.

He stressed that the Middle East operator of French retailer Carrefour aims to boost investments in Egypt, Saudi Arabia, the UAE, and Oman as part of its expansion plan in the region, Bloomberg reported. The CEO noted that the expansion plan in the region will focus on high demand markets like Egypt,  the Arab world's most populous country.

The Emirate group is currently building a multi-use real estate project in Oman with $13.6 billion in investments in partnership with the Omani government, the CEO indicated.

Moreover, the holding company is looking to establish nearly 600 cinemas in Saudi Arabia and other new markets, he highlighted.

Bejjani also said that Majid Al Futtaim Group would keep investing in Kenya, adding that it seeks further expansions and investments in the surrounding countries in Eastern Africa.