Majid Al Futtaim Opens Two New Carrefour Stores in Aswan and the New Administrative Capital as Part of Expansion Strategy in Egypt

• The store openings are set to create over 250 direct and indirect job opportunities, contributing to the local economy.
• This step reflects Majid Al Futtaim’s commitment to helping hard-working families live better.
• Over the next six months, proceeds from the Aswan store’s ‘Round Up Your Bill’ initiative will be donated to support the Magdi Yacoub Heart Foundation.
Cairo, Egypt, 21st January 2025: Majid Al Futtaim, which owns the exclusive rights to operate Carrefour in Egypt, announced the opening of its first Carrefour store in Aswan at Seven Stars Mall, alongside its inaugural store in the New Administrative Capital located within the ‘6ixty Walk Two’ project in the heart of the Financial District. This milestone marks a significant step in the company’s ambitious expansion strategy, aiming to strengthen its presence in key locations across the country. The new stores are designed to better serve local communities, create new job opportunities, and contribute to the region’s economic development.
The inauguration of the Aswan store was attended by Major General Dr. Ismail Kamal, Governor of Aswan; Mohamed Khafaga, Country Manager of Majid Al Futtaim Retail in Egypt; as well as prominent officials from the governorate and members of Majid Al Futtaim’s senior leadership team.

Strategically located in the heart of the Aswan governorate, the store spans 1,580 square metres and offers a wide selection of high-quality products at competitive prices. With over 10,000 items available, the store features fresh and frozen foods, baked goods, household essentials, and appliances. Additionally, the store has created 150 direct and indirect job opportunities for the local community.

In alignment with the government’s initiatives to drive urban expansion, develop new communities, and promote economic and social development, Majid Al Futtaim has also inaugurated its first Carrefour store in the New Administrative Capital. Located within the integrated commercial project “6ixty Walk Two”, developed and managed by Al-Borouj Misr, the store spans 663 square metres and offers over 7,000 products. Serving the needs of local residents and surrounding communities, the store generated over 100 direct and indirect job opportunities.

To mark this occasion, Major General Dr. Ismail Kamal, Governor of Aswan, stated: “The opening of the first Carrefour store in Aswan marks a significant milestone in enhancing the quality of services for local residents, providing access to high-quality essentials at competitive prices. This supports the state’s efforts to ease the financial burden on Egyptian families, and also aligns with His Excellency President Abdel Fattah El-Sisi’s vision of ensuring access to affordable essential goods while stabilising the local market.”

He added: “We are confident that this expansion will play a key role in Aswan’s sustainable development, create local job opportunities, and strengthen supply chains, ultimately benefiting the community and fostering new investment in our economy.”

Commenting on the inauguration, Mohamed Khafaga, Country Manager of Majid Al Futtaim Retail in Egypt, said: “The opening of Carrefour stores in both Aswan and the New Administrative Capital represents a major milestone in Majid Al Futtaim Retail’s growth in Egypt. This expansion strengthens our presence in strategic locations, broadening our reach to serve a wider customer base across the country and reflects our commitment to helping hard-working families live better.”

He added: “As a trusted partner to the Egyptian government and in alignment with Egypt’s Vision 2030, we remain committed to making a positive contribution to the country’s economic and social development. By supporting urban expansion, investing in local communities, and delivering innovative shopping experiences, we are encouraging Egypt’s position as a leading regional trade hub.”

Eng. Hazem El-Sherif, Chairman of Al-Borouj Misr, commented on the opening of Carrefour store in the New Administrative Capital, stating: “We are proud to partner with prominent brands in the ‘6ixty Walk Two’ project, which aims to bring in modern and innovative concepts to the heart of the New Administrative Capital. Welcoming Carrefour, one of Egypt’s top retail brands, to this fully integrated commercial destination reflects our commitment to supporting the government’s urban development vision, particularly in the New Administrative Capital.”

Coinciding with the Aswan store opening, Majid Al Futtaim announced that proceeds from Carrefour’s “Round Up Your Bill” initiative will be donated to the Magdi Yacoub Heart Foundation for the next six months. This initiative supports the foundation’s mission to provide free medical care and treatment. Donation boxes will be placed in-store, offering customers the opportunity to contribute to various social causes. Additionally, Carrefour plans to organise community activities and initiatives in Aswan and within the store, aimed at improving the well-being and quality of life in local communities.

Majid Al Futtaim currently operates 71 Carrefour stores in Egypt, including 20 hypermarkets and 51 supermarkets. The company is committed to supporting the local economy through partnerships with local suppliers and producers, sourcing 99% of its products locally. With these new store openings, Majid Al Futtaim is growing its footprint in the Egyptian market, expanding its Carrefour network to cover 12 cities. Furthermore, the company plans to reach 100 stores in 21 Egyptian cities by the end of 2025, enabling it to provide its services and products to a broader customer base.