Majid Al Futtaim, a leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa, and Asia, announced a new investment milestone with the opening of its 100th retail store in Egypt and the first Carrefour store in the Governorate of Suez. The opening is a testament to the company’s commitment to the nation’s socio-economic growth through a long-term strategy to invest in retail and development sectors. With over two decades of successful operations in Egypt, Majid Al Futtaim is once again reaffirming its confidence in the market’s potential as it continues expanding its footprint across strategic locations and providing accessible, high-quality products and services to positively contribute to achieving social and economic well-being in line with Egypt Vision 2030.
The inauguration was attended by Major General Tarek Hamid El Shazly, Governor of Suez, Dr. Günther Helm, Chief Executive Officer at Majid Al Futtaim – Retail, and Mohamed Khafaga, Country Manager of Majid Al Futtaim – Retail in Egypt, alongside senior officials from the Suez Governorate and representatives from Majid Al Futtaim.
Spanning 900 square metres, the new Carrefour store offers more than 7,000 high-quality products, ranging from fresh and frozen foods to bakery items, household essentials, and home appliances.
Major General Tarek Hamed El Shazly, Governor of Suez, added: “The inauguration of Carrefour in Suez is a significant milestone that strengthens the local food security system by delivering quality, range, and affordability. This achievement reflects the value of public-private partnerships in advancing social and economic development in Suez, and demonstrates a shared commitment to ensuring market stability, creating new job opportunities, and enhancing living standards, in alignment with the directives of H.E. President Abdel Fattah El-Sisi.”
Dr Gunther Helm, Chief Executive Officer, Majid Al Futtaim Retail, commented: “The opening of our 100th store and our inaugural presence in the Suez Governorate, marks an important milestone in Majid Al Futtaim’s longstanding partnership with Egypt. Over the past quarter-century, our investments exceeding $2.5 billion have not only reinforced our commitment to the nation’s economic development but have also facilitated the creation of more than 144,000 direct and indirect employment opportunities. Today, our retail and leisure destinations welcome over 90 million visitors annually, reflecting the trust and loyalty of Egyptian consumers. This milestone is emblematic of our strategic growth trajectory and is aligned with Egypt’s Vision 2030, which continues to inspire our pursuit of inclusive, sustainable progress across the country. At Majid Al Futtaim, we believe that Egypt has the potential to create a brighter future, and we are committed to being part of that future.”
Majid Al Futtaim currently operates its retail business across 18 governorates, offering over 25,000 products to meet the diverse needs of Egyptian customers nationwide. Locally sourced products now account for 99 per cent of the in-store offerings, reflecting the Group’s dedication to supporting the local economy and driving sustainable growth through collaborating with over 800 local suppliers, including farmers, SMEs, and Egyptian factories.
