{"id":594538,"date":"2019-09-01T03:59:41","date_gmt":"2019-09-01T03:59:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/"},"modified":"2019-09-01T03:59:41","modified_gmt":"2019-09-01T03:59:41","slug":"majid-al-futtaim-plans-expansion-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/","title":{"rendered":"Majid Al Futtaim plans expansion in Egypt"},"content":{"rendered":"

<\/a> INVESTMENT WATCH- Majid Al Futtaim plans expansions in Egypt: <\/b>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)<\/a>. \u201cEgypt is today the fastest growing market so it is back and it is back well and hopefully for good...we are very happy with Egypt but there is much more to come,\u201d he said. The company announced in July<\/a> that it will be opening its USD 437 mn City Center Almaza shopping mall in Heliopolis at the end of September.<\/p>\n

The company\u2019s 1H earnings aren\u2019t great:<\/b> Increased financing costs and impairment charges caused MAF to slip to a AED 429 mn loss in 1H2019 from a AED 464 mn profit in the same period last year, according to its financial statement (pdf)<\/a>. Although revenues increased by 1% y-o-y during the first six months of the year, Bejjani said the company has faced headwinds caused by slowing consumer spending \u201cacross the board.\u201d He said the company\u2019s main market in the UAE was \u201ctough\u201d but expected it to improve as EXPO 2020 in Dubai approaches.<\/p>\n

\n","protected":false},"excerpt":{"rendered":"

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 today the fastest growing market […]<\/p>\n","protected":false},"author":1,"featured_media":594539,"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":[8572],"tags":[72,1896,338,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-594538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-majid-al-futtaim","tag-retail","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f01759cf-3ede-45b1-815c-ab46a1acff9c","is_powered_by":true,"section_story_id":"e99a56d2-bf33-4f85-98e9-3c49ab4cf163","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/8\/2747.jpg","photo_position":"above","related_issue":[594528],"teaser":"","voice_url":""},"yoast_head":"\nMajid Al Futtaim plans expansion in Egypt - 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\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Majid Al Futtaim plans expansion in Egypt\" \/>\n<meta property=\"og:description\" content=\"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 today the fastest growing market […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-01T03:59:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/8\/2747.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Majid Al Futtaim plans expansion in Egypt\",\"datePublished\":\"2019-09-01T03:59:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/\"},\"wordCount\":205,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/8\/2747.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Majid Al Futtaim\",\"retail\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/majid-al-futtaim-plans-expansion-in-egypt\/\",\"name\":\"Majid Al Futtaim plans expansion in Egypt - 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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":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":594538,"position":1},"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":632798,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/20\/majid-al-futtaim-to-open-100-new-carrefour-stores\/","url_meta":{"origin":594538,"position":2},"title":"Majid Al Futtaim to open 100 new Carrefour stores","author":"enterpriseam admin","date":"20 February 2018","format":false,"excerpt":"INVESTMENT WATCH- MAF to open 100 new Carrefour stores in Egypt. 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The company is aiming to open 15-18 new Carrefour outlets of varying sizes including branches\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":594538,"position":4},"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. 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