Dubai-based Majid Al Futtaim Holding reveals that Egypt, Saudi Arabia, UAE, and Oman are currently the company’s top investment destinations, amid its plans to steadily expand its presence in the region, Bloomberg reports.

In an interview on Bloomberg TV on Tuesday, July 31, the developer’s Chief Executive Officer Alain Bejjani pointed out that Al Futtaim’s regional expansion plans are focused on high-demand markets such as Egypt, as it is currently working on developing 100 new Carrefour stores in industrial zones across the country, with the first set to be established in Ismailia.

It is worth noting that last February Majid Al Futtaim has signed a cooperation protocol with the Investment Ministry and the National Service Projects Organization to open the said Carrefour stores across various governorates in Egypt, according to a company’s statement.

“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,” Majid Al Futtaim Egypt Country Head Abdalla El Nokrashy is quoted as saying.

Through its current 37 Carrefour stores, Majid Al Futtaim is committed to providing the largest array of high-quality products at very competitive prices to combat the inflation that Egypt’s citizens are facing, the statement adds.