INVESTMENT WATCH- Al Alamia, Saudi consortium to invest EGP 2.5 bn in new retail chain: Al Alamia for Import & Export is in final negotiations to partner with an undisclosed Saudi Arabian company to launch a retail chain with an investment cost of as much as EGP 2.5 bn, Chairman of the Board of Directors Ahmad Shiha told Al Mal. He said the stores will sell furniture, household items and cosmetic accessories. Al Alamia, which owns Mercato Mall in Nasr City, signed a cooperation contract with Spinneys earlier this month to open a branch in the mall this April, at an investment cost of EGP 40 mn.

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