{"id":544576,"date":"2022-03-10T04:00:38","date_gmt":"2022-03-10T04:00:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/10\/carrefour-egypt-to-spend-egp-250-mn-on-egypt-expansion\/"},"modified":"2022-03-10T04:00:38","modified_gmt":"2022-03-10T04:00:38","slug":"carrefour-egypt-to-spend-egp-250-mn-on-egypt-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/10\/carrefour-egypt-to-spend-egp-250-mn-on-egypt-expansion\/","title":{"rendered":"Carrefour Egypt to spend EGP 250 mn on Egypt expansion"},"content":{"rendered":"

<\/a> Carrefour Egypt plans to invest EGP 250 mn and build 10 new stores in Egypt this <\/strong>year<\/strong>, Masrawy<\/a> quotes Carrefour Egypt head Philippe Peguilhan as saying. The Majid Al Futtaim-owned retailer is eyeing new locations in Cairo, Alexandria, the North Coast, the Red Sea, the Delta, and New El Alamein. Carrefour currently has 59 stores nationwide, including 14 hypermarkets and 45 supermarkets.<\/p>\n

Ramadan prep amid the commodities crunch: <\/strong>At a recent meeting with government officials, Carrefour pledged to ensure all its product lines are available at reasonable prices ahead of Ramadan, despite Russia\u2019s war on Ukraine, Peguilhan said. The war has knocked out a good chunk of global wheat supply, sending prices soaring and threatening widespread food inflation.<\/p>\n

Continued expansion: <\/strong>The chain saw sales rise 40% \u2014 exceeding its targets \u2014 and built seven new stores last year. Peguilhan said. Carrefour had reportedly targeted<\/a> investing EGP 400 mn to set up 20 new branches in 2021, backed by expectations for a rapid recovery in consumer demand.<\/p>\n

OTHER INVESTMENT NEWS-<\/strong><\/p>\n

Saudi tech firm Brmaja plans to increase its <\/strong>investments in Egypt by 20% this year<\/strong>, Al Mal<\/a> reported CEO Hatem Bakheet as saying, without disclosing figures. The company and its two subsidiaries, Brmaja IT and Brmaja Innovation, are all looking to expand in the Egyptian market this year, he said.<\/p>\n

The company\u2019s Egyptian arm has said it is eyeing an IPO on the EGX as early as this<\/strong> month<\/strong>, but we\u2019ve seen little to suggest the offering by<\/a>Brmaja Innovation<\/a> is imminent. The company registered its shares with Misr for Central Clearing, Depository and Registry last month and is has said it could list 20% of its shares in an EGP 400 mn sale. It has plans to acquire its Saudi parent company in a reverse merger ahead of the listing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Carrefour Egypt plans to invest EGP 250 mn and build 10 new stores in Egypt this year, Masrawy quotes Carrefour Egypt head Philippe Peguilhan as saying. The Majid Al Futtaim-owned retailer is eyeing new locations in Cairo, Alexandria, the North Coast, the Red Sea, the Delta, and New El Alamein. Carrefour currently has 59 stores […]<\/p>\n","protected":false},"author":1,"featured_media":544577,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[918,1332,72,125],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-brmaja","tag-carrefour-egypt","tag-enterpriseam","tag-investment-watch","wpautop","entry"],"acf":{"mongo_id":"3c176819-97a1-4a3c-ad42-2e6e7a640d28","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/127.jpg","photo_position":"above","related_issue":[544564],"teaser":"","voice_url":""},"yoast_head":"\nCarrefour Egypt to spend EGP 250 mn on Egypt expansion - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/10\/carrefour-egypt-to-spend-egp-250-mn-on-egypt-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carrefour Egypt to spend EGP 250 mn on Egypt expansion\" \/>\n<meta property=\"og:description\" content=\"Carrefour Egypt plans to invest EGP 250 mn and build 10 new stores in Egypt this year, Masrawy quotes Carrefour Egypt head Philippe Peguilhan as saying. 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Three of these branches will open in the coming weeks, he said. The expansion could\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/154.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593662,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/carrefour-to-invest-egp-500-mn-in-egypt-in-2020\/","url_meta":{"origin":544576,"position":2},"title":"Carrefour to invest EGP 500 mn in Egypt in 2020","author":"enterpriseam admin","date":"7 October 2019","format":false,"excerpt":"INVESTMENT WATCH- Majid Al-Futtaim Group (MAF)\u2019s Carrefour aims to invest around EGP 500 mn in Egypt next year opening three new hypermarkets and 24 new supermarkets, said Country Manager Jean Luc Graziato, according to the local press. The company already has 47 branches in the country, and is expected to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603382,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/21\/majid-al-futtaim-to-invest-egp-700-mn-to-open-20-new-carrefour-outlets-in-egypt\/","url_meta":{"origin":544576,"position":3},"title":"Majid Al Futtaim to invest EGP 700 mn to open 20 new Carrefour outlets in Egypt","author":"enterpriseam admin","date":"21 April 2019","format":false,"excerpt":"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\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":560346,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/24\/foreign-investors-want-minority-stake-in-hyperone-carrefour-expanding\/","url_meta":{"origin":544576,"position":4},"title":"Foreign investors want minority stake in HyperOne, Carrefour expanding","author":"enterpriseam admin","date":"24 February 2021","format":false,"excerpt":"Unnamed foreign investors and funds are interested in acquiring a 20% stake in Egyptian retail chain HyperOne, Mohamed El Hawary, the chairman of the supermarket chain\u2019s business group, told the local press. Talks are still in very early stages, El Hawary said, without putting an estimated closing time for a\u2026","rel":"","context":"In "RETAIL"","block_context":{"text":"RETAIL","link":"https:\/\/enterpriseam.com\/egypt\/category\/retail\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/348.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598446,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/maf-inaugurates-carrefour-store-in-ismailia\/","url_meta":{"origin":544576,"position":5},"title":"MAF inaugurates Carrefour store in Ismailia","author":"enterpriseam admin","date":"26 May 2019","format":false,"excerpt":"Majid Al-Futtaim Group (MAF) has inaugurated a shopping mall, with a Carrefour store, in Ismailia at an investment cost of EGP 200 mn, Al Shorouk reports. The mall is the first of an agreement signed between MAF, the Investment Ministry, and the National Service Projects Organization to open 100 outlets\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=544576"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544576\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/544577"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544576"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544576"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}