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22-01-14

Dubai's Majid Al Futtaim to invest USD2 b in Egypt

(MENAFN) Chief executive of Dubai-based retail group Majid Al Futtaim said that the company will invest USD2.3 billion in Egypt, according to Arabian Business. Iyad Malas said: "Total investments on the plan, including Carrefour, should be around 16 billion Egyptian pounds over the next four to five years." Dubai's firm will construct a USD458 million mall in Cairo's Maadi, and another mall next to Cairo's main airport at the almost the same cost that is expected to start working on next week.