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Majid Al Futtaim eyes raising investments in Egypt to EGP 44bn

Majid Al Futtaim eyes raising investments in Egypt to EGP 44bn
Majid Al Futtaim created about 7,500 direct jobs in Egypt

By: Abdullah Bedeir

Cairo – Mubasher: Majid Al Futtaim aims to increase its investments in Egypt to EGP 44 billion, the company’s CEO Alain G. Bejjani said.

Egypt has received EGP 26 billion in investments from the UAE-based leading integrated lifestyle provider, Bejjani added in a press conference held in City Centre Almaza on Thursday.

The Dubai-based group invested EGP 9 billion in the recently-inaugurated City Centre Almaza.

Moreover, Majid Al Futtaim created about 7,500 direct jobs and around 150,000 indirect jobs in the country, the CEO added.

On Wednesday, Bejjani told Reuters that the company plans to invest an additional amount of EGP 16 billion in the Egyptian market over the coming two to three years.