{"id":561681,"date":"2021-04-18T04:00:20","date_gmt":"2021-04-18T04:00:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/18\/egypt-very-resilient-market-for-maf\/"},"modified":"2021-04-18T04:00:20","modified_gmt":"2021-04-18T04:00:20","slug":"egypt-very-resilient-market-for-maf","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/18\/egypt-very-resilient-market-for-maf\/","title":{"rendered":"Egypt \u201cvery resilient\u201d market for MAF"},"content":{"rendered":"

<\/a> Egypt, UAE and Saudi expected to lead post-covid <\/strong>recovery for MAF:<\/strong> Egypt proved to be a \u201cvery resilient\u201d market for Majid Al Futtaim, which has seen its fastest recovery from last year\u2019s pandemic business slump in the UAE and Saudi Arabia, CEO Alain Bejjani told the Associated Press<\/a>. The Dubai-based real estate developer and retail giant\u2019s rebound in Saudi and the UAE comes as these countries make solid progress on their vaccination programs, the newswire notes. Bejjani did not mention specific investment plans for Egypt this year, but Carrefour Egypt Director Jean-Luc Graziato had said last week<\/a> the MAF-owned retailer is planning to invest EGP 400 mn to set up 20 new branches in Egypt this year.<\/p>\n

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

The Sovereign Fund of Egypt (SFE) has denied news that it plans to sell the <\/strong>Mogamma El Tahrir <\/strong>to private investors, according to a cabinet statement<\/a>. The fund fully owns the building, which will be transformed into a mixed-use development that includes a hotel as well as commercial, administrative and cultural spaces. The fund plans to contract with a private sector player as part of the transformation.<\/p>\n

The partnership model:<\/strong> The SFE will contribute to the technical studies and surveying work, while the partner will finance the development. The fund has issued the conditions booklet for the project to foreign and local investors and developers, and an agreement may be reached by 3Q2021<\/a>. The statement does not make clear whether the private sector partner will be involved on an equity, revenue or profit sharing basis. One or more private companies could be brought in to run parts of the facility on a model similar to the hotel industry, where a property owner brings in a global brand as an operator.<\/p>\n

Eni could ramp up spending on its exploration and production activities in Egypt<\/strong>, CEO Claudio Desclazi said during a meeting<\/a> with President Abdel Fattah El Sisi.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt, UAE and Saudi expected to lead post-covid recovery for MAF: Egypt proved to be a \u201cvery resilient\u201d market for Majid Al Futtaim, which has seen its fastest recovery from last year\u2019s pandemic business slump in the UAE and Saudi Arabia, CEO Alain Bejjani told the Associated Press. The Dubai-based real estate developer and retail […]<\/p>\n","protected":false},"author":1,"featured_media":561682,"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":[8934,72,125,1896,2239,338,370],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-carrefour","tag-enterpriseam","tag-investment-watch","tag-majid-al-futtaim","tag-mogamma-el-tahrir","tag-retail","tag-sovereign-fund-of-egypt","wpautop","entry"],"acf":{"mongo_id":"5cb61ffa-4ff7-4d05-a6cf-779ac28ad30d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/4\/171.jpg","photo_position":"above","related_issue":[561675],"teaser":"","voice_url":""},"yoast_head":"\nEgypt \u201cvery resilient\u201d market for MAF - 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\/2021\/04\/18\/egypt-very-resilient-market-for-maf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt \u201cvery resilient\u201d market for MAF\" \/>\n<meta property=\"og:description\" content=\"Egypt, UAE and Saudi expected to lead post-covid recovery for MAF: Egypt proved to be a \u201cvery resilient\u201d market for Majid Al Futtaim, which has seen its fastest recovery from last year\u2019s pandemic business slump in the UAE and Saudi Arabia, CEO Alain Bejjani told the Associated Press. 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The mall includes 260 retail shops, a cinema and a Carrefour hypermarket.\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":591421,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/05\/majid-al-futtaim-to-invest-egp-16-bn-in-egypt-in-the-next-2-3-years-ceo\/","url_meta":{"origin":561681,"position":1},"title":"Majid Al Futtaim to invest EGP 16 bn in Egypt in the next 2-3 years -CEO","author":"enterpriseam admin","date":"5 December 2019","format":false,"excerpt":"INVESTMENT WATCH- Majid Al Futtaim to invest EGP 16 bn in next 2-3 years: Emirati real estate developer and retail giant Majid Al Futtaim (MAF) will invest EGP 16 bn in Egypt over the next 2-3 years, CEO Alain Bejjani told Reuters. The company will put EGP 14 bn into\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":625305,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/01\/egypt-saudi-arabia-uae-and-oman-top-investment-destination-for-maf-group-ceo-says\/","url_meta":{"origin":561681,"position":2},"title":"Egypt, Saudi Arabia, UAE, and Oman top investment destination for MAF Group, CEO says","author":"enterpriseam admin","date":"1 August 2018","format":false,"excerpt":"INVESTMENT WATCH- Egypt, Saudi Arabia, UAE, and Oman are currently the top investment destinations for the Majid Al Futtaim (MAF) Group as it continues to pursue expansion plans in the region, CEO Alain Bejjani tells Bloomberg in an interview (watch, runtime: 5:42 or read here). The company\u2019s regional expansion plans\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\/2018\/8\/19.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594538,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/","url_meta":{"origin":561681,"position":3},"title":"Majid Al Futtaim plans expansion in Egypt","author":"enterpriseam admin","date":"1 September 2019","format":false,"excerpt":"INVESTMENT WATCH- Majid Al Futtaim plans expansions in Egypt: UAE-based real estate developer and retail giant Majid Al Futtaim (MAF) is planning to open about 12 new stores in Egypt in the coming few months, CEO Alain Bejjani said in an interview with Bloomberg TV (watch; runtime 7:09). \u201cEgypt is\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\/2019\/8\/2747.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591474,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/majid-al-futtaim-to-invest-egp-44-bn-in-egypt-inaugurates-usd-580-mn-city-center-almaza\/","url_meta":{"origin":561681,"position":4},"title":"Majid Al Futtaim to invest EGP 44 bn in Egypt, inaugurates USD 580 mn City Center Almaza","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"INVESTMENT WATCH- Majid Al Futtaim to invest EGP 44 bn in Egypt in the coming years: Dubai-based real estate developer and retail giant Majid Al Futtaim (MAF) will invest EGP 44 bn in Egypt in the coming years, CEO Alain Bejjani said, according to a cabinet statement. Bejjani had told\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":598446,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/maf-inaugurates-carrefour-store-in-ismailia\/","url_meta":{"origin":561681,"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\/561681","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=561681"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561681\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561675"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/561682"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561681"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561681"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}