Majid Al Futtaim continuing expansion

Date : 19 June 2019

UAE-based Majid Al Futtaim has announced plans to sustain its expansion, as it simultaneously looks to invest and grow its online presence.

Looks to grow presence in Egypt

The retailer’s COO, Herve Majidier, has said it is aiming to open three Carrefour stores in the country’s New Administrative Capital. It is also investigating opportunities, as part of negotiations with the ministry of supply and internal trade, to add stores in new cities in the country. Majidier’s statements came as part of the inauguration of its first shopping centre in Ismailia, a city in the north east of the country.

The site in Ismailia is part of Majid Al Futtaim’s previously announced plans to open 100 Carrefour stores, as part of a joint initiative with the country’s National Service Products Organization and the ministry of investment and international cooperation. Of the 100 it is aiming to open, Majid Al Futtaim said 15 are planned for 2019, which will bring its number to about 60 by the end of the year. The new stores are proposed for Cairo, Delta, the Red Sea, Qena, and Alexandria and will be part of the company’s total investment of EGP700m (US$41.7m) in the country in 2019.

Announces plans to enter Uganda in 2019

Majid Al Futtaim has said it is aiming to open its first Carrefour store in Uganda in 2019, although without giving a firmer date. It said a further store could be opened in early 2020 at Metroplex Kampala. The company said the market entry follows its successful entry and expansion in Kenya. It said it has secured space at the Oasis shopping centre in the country’s capital city of Kampala. The Carrefour branded store will be opened in a space previously occupied by Kenya-based Nakumatt.

The chief executive of MAF Retail, Hani Weiss, said the ‘announcement brings us a step closer towards realizing our long-term expansion plan for East Africa. Uganda is considered one of the fastest growing economies in Africa’.

Acquires grocery ecommerce platform in Saudi Arabia…

The chief executive of Majid Al Futtaim, Alain Bejjani, has been quoted as confirming that the retailer has acquired Saudi Arabia-based grocery ecommerce platform Wadi.com. No financial details were given, but the confirmation will enable it to grow its ecommerce operations across grocery and non-grocery ranges. The acquisition follows Majid Al Futtaim investing in Wadi.com, which saw it become the latter’s strategic partner. Wadi.com’s existing management team will remain in place to smooth the transition and help it continue to grow.

…And opens hypermarket in Dubai

Majid Al Futtaim has opened a 10,900 sq. m Carrefour hypermarket in the Cityland Mall in Dubai. The company said the store would meet the needs of shoppers in the residential communities of Arabian Ranches, Majan, Al Barari, Layan, The Villa and Falcon City. Commenting on the new store, Carrefour UAE’s country manager at Majid Al Futtaim Retail, Philippe Peguilhan, said: “It is our belief that adding a retail space can only enhance this journey by offering an assortment of items that are rich in quality, variety, and value. We are confident that we will successfully surpass customers’ expectations as a reflection of our brand promise to create great moments for everyone, every day.