Dubai retailer MAF to invest $2.3bn in Egypt - Al Arabiya News:
"Dubai retail group Majid Al Futtaim plans to invest about $2.3 billion in Egypt over the next few years, its chief executive said on Wednesday, in a sign of Gulf investors’ growing interest in the Egyptian economy.
“Total investments on the plan, including Carrefour, should be around 16 billion Egyptian pounds over the next four to five years,” Iyad Malas told Reuters on the sidelines of the World Economic Forum in Davos.
MAF, the sole franchisee of Carrefour hypermarkets in the Middle East, will expand one of its shopping malls in Cairo’s Maadi district at a cost of $459 million, and begin construction next week of another mall next to Cairo’s main airport that will cost a similar amount, Malas said."
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