The deal paves the way for the integration of the next stage of brokerage standards in Egypt and for the provision of an exceptional customer experience.
The company is planning to launch a series of real estate projects in East and West Cairo.
The city includes a free zone and a used car sale area, the agency complex area, traffic offices, car showrooms, alongside other service facilities.
The first issuance of the fund received EGP 360 mn worth of subscriptions, out of a targeted value of EGP 500 mn, from Egyptian and multinational financial institutions.
Majid Al Futtaim also unveils a plan to expand its soft discount store, Supeco, and open more Carrefour Gourmet stores in the Egyptian market.
These facilities, collectively, are set to produce up to 7.6 mn tons of green ammonia and 2.7 mn tons of hydrogen a year when fully operated.
The two agreements were signed on the sidelines of the 27th United Nations Climate Change Conference (COP27), which is held from 6 to 18 November in Sharm El-Sheikh.
The MoUs were signed with Tatweer Misr, Misr Italia Properties, REDCON for Offices and Commercial Centers, PARAGON Real Estate Developments, and GV Developments, on the sidelines of the United Nations Climate Change Conference (COP27).
The JV also aims to promote investments in the sector, inside the Kingdom.
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