Carrefour set to open 10 new stores in the UAE in 2017

Majid Al Futtaim announces expansion plan; to include two hypermarkets and eight supermarkets
Carrefour set to open 10 new stores in the UAE in 2017
Carrefour
By Staff writer
Mon 31 Oct 2016 02:01 PM

Majid Al Futtaim, the Dubai-based shopping mall operator, has announced that Carrefour will open 10 new stores in the UAE in 2017.

The openings will set it on target to reach 140 hypermarkets and 210 supermarkets in the countries in which Majid Al Futtaim operates by 2018, the company said in a statement.

Carrefour, franchised by Majid Al Futtaim in 38 markets across the Middle East, Africa and Central Asia, will open two hypermarkets and eight supermarkets across the emirates next year as it looks to meet the growing demand for convenience shopping, it added.

“This week marks 21 years since Majid Al Futtaim introduced the Carrefour hypermarket concept to the UAE and the wider region as part of its vision to create great moments for everyone, every day. Since then, the brand has become synonymous with providing customers with unbeatable value and choice,” said Miguel Povedano, executive regional director for Carrefour UAE.

“We will continue to grow the hypermarket brand in the UAE with the addition of two more hypermarkets and address the growing trend for smaller convenient stores through the introduction of eight new supermarkets. We also look forward to extending our home delivery service, which we are currently testing in selected areas in Dubai,” he added.

In August Majid Al Futtaim reported an 11 percent increase in group revenues for the first six months of 2016 to AED15.2 billion ($4.13 billion).

Earnings before interest, tax, depreciation and amortization (EBITDA) rose by 7 percent, reaching AED1.9 billion.

The group also reported total assets valued at AED52 billion and net debt of around AED 10 billion.

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