MAF continues regional expansion, bullish on Egypt

Majid Al Futtaim (MAF) Group says it is moving ahead with expansions Egypt and the GCC after recording an 8% y-o-y increase in earnings in 2016, according to The National. MAF will carry forward plans to expand in markets including the UAE, Egypt, Oman, and Saudi Arabia and will also bolster its operations in Africa and Central Asia. The company says it remains bullish on Egypt following its proposed plan in 2015 to increase investments to EGP 22.5 bn.