Majid Al Futtaim, the Dubai-based conglomerate whose businesses span shopping mall, real estate, retail and leisure sectors, is opening 100 additional Carrefour stores in Egypt, adding to 37 outlets it already operates in the most populous Arab country.
The company has signed a “cooperation protocol agreement” with the Egyptian investment ministry and the National Service Projects Organization, an affiliate of the country’s armed forces to open new stores in industrial zones across various governorates in the country, it said in a statement on Monday without giving the financial details or the timeline of the project.
The investment into new outlets, is on top of the Majid Al Futtaims’s previously announced 23 billion Egyptian pound (Dh4.77bn) investment strategy for Egypt, Africa's third largest economy. The company’s ongoing projects in the country include Mall of Egypt and its various leisure and entertainment attractions such as Ski Egypt, the expansion of VOX Cinema in the country and development of City Centre Almaza.
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“This agreement comes in line with Majid Al Futtaim’s commitment towards the socio-economic development of Egypt and subsequently fulfills the government’s vision,” Abdalla El Nockrashy, Majid Al Futtaim Properties’ Egypt country head said.
Sahar Nasr, Egypt’s Minister of Investment and International Cooperation noted that the pact with the UAE firm delivers a strong message to leading companies that “Egypt and all its governmental bodies are in full support of investors”.
Carrefour is one of the world's largest hypermarket and supermarket chains. Majid Al Futtaim has the exclusive franchise of the brand in 38 markets across the Middle East, Africa and Asia. It opened its first Carrefour hypermarket in 1995 in Dubai’s Deira City Centre before expanding it to more than 230 stores across 15 countries in the region.
The company had launched the first Carrefour branded store in Egypt in 2002. It currently operates 11 hypermarkets and 25 supermarkets. The additional stores, the company said, will contribute to the Egyptian economy by creating more job opportunities and provide quality commodities with fair market value to Egyptians.
Stage 2
1. Mathieu van der Poel (NED) Alpecin-Fenix 4:18:30
2. Tadej Pogacar (SLV) UAE Team Emirates 0:00:06
3. Primoz Roglic (SLV) Jumbo-Visma 0:00:06
4. Wilco Kelderman (NED) Bora-Hansgrohe 0:00:06
5. Julian Alaphilippe (FRA) Deceuninck-QuickStep 0:00:08
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Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
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Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte
Three-and-a-half stars
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Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
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Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
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Date Started: September 2018
Founders: Walid and Karim Dib
Based: Abu Dhabi
Employees: Nine
Amount raised: $1.2 million
Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers
Meydan card
6.30pm: Al Maktoum Challenge Round-1 (PA) Group 1 US$65,000 (Dirt) 1,600m
7.05pm: Conditions (TB) $100,000 (Turf) 1,400m
7.40pm: UAE 2000 Guineas Trial (TB) $100,000 (D) 1,600m
8.15pm: Handicap (TB) $175,000 (T) 1,200m
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9.25pm: Handicap (TB) $175,000 (D) 1,900m
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ESSENTIALS
The flights
Etihad (etihad.com) flies from Abu Dhabi to Mykonos, with a flight change to its partner airline Olympic Air in Athens. Return flights cost from Dh4,105 per person, including taxes.
Where to stay
The modern-art-filled Ambassador hotel (myconianambassador.gr) is 15 minutes outside Mykonos Town on a hillside 500 metres from the Platis Gialos Beach, with a bus into town every 30 minutes (a taxi costs €15 [Dh66]). The Nammos and Scorpios beach clubs are a 10- to 20-minute walk (or water-taxi ride) away. All 70 rooms have a large balcony, many with a Jacuzzi, and of the 15 suites, five have a plunge pool. There’s also a private eight-bedroom villa. Double rooms cost from €240 (Dh1,063) including breakfast, out of season, and from €595 (Dh2,636) in July/August.
War 2
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5pm: Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Aahid Al Khalediah II, Pat Cosgrave (jockey), Helal Al Alawi (trainer)
5.30pm: Handicap (PA) Dh80,000 (T) 2,200m; Winner: Whistle, Harry Bentley, Abdallah Al Hammadi
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4.35pm: Tilal Al Khalediah
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Other ways to buy used products in the UAE
UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.
Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.
Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.
For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.
Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.
At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.
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Scotland 54-17 Fiji
England 15-16 New Zealand
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For more information, and to enter the race, please visit www.abudhabi.triathlon.org.
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Zayed Sustainability Prize
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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