Tuesday, 17 September 2019 06:49 GMT

Egypt- Carrefour to open 4 branches in coordination with ITDA in investments worth EGP 230m

(MENAFN - Daily News Egypt) Majid Al Futtaim Retail, operator of the Carrefour brand in Egypt, aims to open four new Carrefour branches, in coordination with the ministry of supply and internal trading, represented by the Internal Trade Development Authority (ITDA), within the next two years, Jean Luc Graziato, country manager of Carrefour Egypt told Daily News Egypt.

He added that the four branches include two supermarkets and two hypermarkets with total investments worth EGP 230m. Each super market will cost about EGP 15m, while the investment of each hypermarket is EGP 100m.

According to the ITDA, the space of any hypermarket in Egypt ranges between 10,000 and 15,000m, while the supermarket area ranges between 1,600 and 4,000m.

For his part, Herve Majidier, COO for Egypt, Saudi Arabia, Qatar, Kuwait, Oman, and Bahrain at Majid Al Futtaim Retail, stated that the company aims to open two new branches next month in Moqattam and a new branch in Almaza in September.

This is part of the expansion plan of the 100 Carrefour locations that is part of a joint initiative with the National Service Products Organisation and the Egyptian Ministry of Investment and International Cooperation.

Majidier added that Carrefour targets 20% growth in sales this year, and to reach 60 operating stores in Egypt by end of this year, compared to currently operating 46.

These interviews came during the signing a memorandum of understanding (MoU), between Majid Al Futtaim Retail and the ministry of social solidarity.

The Minister of Social Solidarity, Ghada Waly, explained that the signing of the MoU aims to provide 1,000 job opportunities for young job seekers by providing decent job opportunities through the networking of the beneficiaries of the ministry's 'Forsa' programme with Majid Al Futtaim Retail (Carrefour).

Also, through supporting the 'Sakan Karim,' programme through putting donation funds in 44 branches of Carrefour, the opening of new markets will support productive families by offering their products in six branches of Carrefour.


Egypt- Carrefour to open 4 branches in coordination with ITDA in investments worth EGP 230m


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