"UAE’s Majid Al Futtaim Holding (MAF) - sole franchise of hypermarket chain Carrefour in the Gulf - said it foresaw capital investments of up to $1 billion (Dh3.67 billion) this year as it steadily expanded its foothold in the region.
This did not include a $680 million purchase of a 25 per cent minority share from Carrefour Groupe in the company announced last week that will give it full ownership of the Carrefour franchise in the region, Iyad Malas, the chief executive officer said in an interview on Saturday.
“Our capital investments could be anywhere between $600 million and $1 billion this year,” said Malas on the sideline of the World Economic Forum (WEF) on the Middle East and Africa."
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