Majid Al Futtaim to invest EGP 700 mn to open 20 new Carrefour outlets in Egypt

Majid Al-Futtaim Group (MAF) is planning to invest EGP 700 mn in Egypt this year to open 20 new Carrefour outlets, Carrefour Egypt Country Manager Jean Luc Montague told reporters on Thursday, according to the local press. Executive Regional Manager Herve Majidier had previously said MAF will invest USD 500 mn in Egypt this year.