Carrefour plans to invest EGP 250m on Egypt expansion

Carrefour plans to invest EGP 250m on Egypt expansion

Majid Al-Futtaim’s Carrefour to invest EGP 250m in the Egyptian market in 2022, with a plan to expand to cover the entire country. Majid Al-Futtaim Retail has invested EGP 2.3 billion to date in Egypt. 2022 will mark the 20th year of Carrefour’s existence in the Egyptian market.

Carrefour also plans to open a Carrefour Gourmet store to provide customers with a premium and specialised product range. It was also open a Supeco store that will aim to serve wholesalers, retailers, and walk-in customers.

Philippe Peguilhan, Country Manager of Carrefour Egypt at Majid Al-Futtaim Retail, stated that Carrefour plans to open 10 branches this year, which will contribute to increasing their expansion and achieving geographical spread in the Egyptian market in the Delta, Cairo, Alexandria, the North Coast, the Red Sea, and New Alamein. The company is also studying its potential presence in Upper Egypt.

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