MAF plans malls, ski slopes, for sub-Saharan Africa | beyondbrics

MAF plans malls, ski slopes, for sub-Saharan Africa | beyondbrics:

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Majid Al Futtaim, the malls operator that brought an indoor ski slope to Dubai, is seeking to double revenues over the next five years by bringing Carrefour markets and mega-malls to more countries across the broader region.

Having expanded across 12 countries in the Middle East, North Africa and central Asia, the retailing giant is scouting four out of the 14 sub-Saharan African countries for which it holds Carrefour franchisee rights.

Initial studies have indicated the best opportunities lie in Angola, Ethiopia, Kenya and Mozambique, with the company planning to send teams to these countries in early 2014 to develop retailing strategies and source suppliers, says Iyad Malas, chief executive of Majid Al Futtaim’s holding company.

MAF malls, from Deira City Centre to Mall of the Emirates, have played a large part in driving tourism into Dubai over the past decade. Around 70 per cent of the company’s assets are in the United Arab Emirates, where mall culture has embedded itself in daily life."

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