Al-Futtaim in deal with Carrefour for Cairo project.Byline: Dubai Al-Futtaim Group Real Estate on Wednesday Wednesday: see week. announced the leasing of Cairo Festival City's Festival Centre hypermarket hy·per·mar·ket n. A very large commercial establishment that is a combination of a department store and a supermarket. hypermarket Noun a huge self-service store [translation of French in a landmark deal signed with Majid Al Futtaim's (MAF MAF macrophage activating factor. ) Carrefour. Officials from both companies recently signed the contract which provides Carrefour with a nine-year lease and the option to renew for a further nine years. "Signing with Carrefour is an exciting development for both Cairo Festival City and MAF Hypermarkets. We are certain that bringing the best Hypermarket operator to the best site in Cairo will meet the needs of the New Cairo New Cairo is a planned community in the Al Qahirah governorate of Egypt. It is to be the home of the American University of Cairo and the German University in Cairo. Parts of New Cairo include Rehab City. population," said Brett Schafer, AFGRE's senior managing director. MAF Retail introduced the hypermarket model in the Middle East in 1995 and since then have rapidly expanded in the region. Today they operate 37 stores across the Mena region, of which, 4 hypermarkets and 1 supermarket are in Egypt. In addition, Carrefour is considered the largest international operator in this sector, with 7,984 stores worldwide including 1,262 hypermarkets. Philip Evans Philip Evans is the name of various people:
'We are developing a quality super regional shopping centre with an international line up of retailers. We will be announcing more quality signings very soon,' Evans added. Carrefour at Festival Centre will span over 10,700 sq m and be located on the upper ground level of the shopping mall, between the cinema and home furnishing "Big Box". Expected to open in the first quarter of 2012, Carrefour will represent a major retail anchor within Festival Centre. Copyright 2008 www.tradearabia.com Copyright 2009 Al Hilal Publishing & Marketing Group Provided by Syndigate.info an Albawaba.com company |
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