Emirate-based large developer Majid Al Futtaim Holding (MAF), a regional franchise holder of the French supermarket chain Carrefour, announced its intention to build them in Kazakhstan, Azerbaijan, Georgia and Armenia, and by the end of this year bring the number of its new hypermarkets to 10. and supermarkets - up to 15.
“We are already working in 13 countries of the world. And more recently, we added several CIS countries to our portfolio, including Kazakhstan, Azerbaijan, Georgia and Armenia,” said Iyad Malas, MAF chief executive officer. “We plan to open our the first Carrefour supermarket in Georgia. We already did this in Iraq in January and will continue to expand. "
Recall that today MAF already has 45 supermarkets. This year 3 were opened; the company plans to launch another 10 new hypermarkets and 15 supermarkets before the end of the year. As part of expanding its portfolio, the developer is looking for new partners and new opportunities that will help him to present fashion brands in the UAE and other countries.
In addition, MAF Holding is also considering projects to open new cafes and restaurants, in particular, given the fact that American brands are very popular in the region. “In the next 5-7 years, we plan to build and open from 10 to 11 new shopping centers,” said Peter Valichnovski, head of the MAF Properties division. “These will be not only large shopping centers, like the Mall of the Emirates, but also small complexes, built in residential sleeping areas. "
The concept of small district shopping centers has recently become increasingly popular in the region. Already several large emirate conglomerates have announced the development of such plans. “In the coming years, we plan to invest in construction, provided that good land is found at an affordable price of approximately 3.5 billion dirhams (US $ 953 million),” Malas said. “District shopping centers do not require large capital investments "Usually their creation is estimated at 70-100 thousand dirhams (US $ 19.1-27.3 thousand). Therefore, of course, we will build them."
