Majid El Futtaim Group CEO: Egypt is the fastest-growing market
During an interview with Alain Bejjani, CEO of Majid El Futtaim Group, and while talking numbers he explained that Egypt is the fastest-growing market.
Majid El Futtaim Group has been operating in Egypt for more than 20 years with multiple projects like Carrefour. And now Vox Cinema.
Alain mentioned that the middle-eastern region has been facing macroeconomic difficulties for a long time now that affected consumer behavior and made them “conscience” of their spending.
Although Vox Cinemas is getting more response in Saudi Arabia than Egypt, Alain then added that he thinks it’s normal because Vox started operating in KSA only since 2018.
The group has plans for expansion all over the middle east, especially in Saudi Arabia by adding more screens as requested.
Also, he said that the next step is to add 12 Carrefour stores in Egypt by the end of this year. And by the end of September, they’re opening their 4th mall in Egypt.
“Egypt is a bright spot for expansion” Says Alain Bejjani.