Mubasher: Majid Al Futtaim has inaugurated its latest Supeco store in Egypt with investments exceeding EGP 36 million, according to a recent press release.
The new store, the first in the Fayoum Governorate, offers 3,500 products, including fresh, frozen, and canned food, catering to a diverse customer base while supporting the national economy.
This aligns with the Emirati real retail conglomerate’s objectives to expand Supeco’s network to reach 140 stores by 2030.
Spanning760 square metres, the store is backed by a network of 120 suppliers to ensure stable supply chains and stock availability.
Additionally, Supeco has created 175 direct and indirect job opportunities, anchoring Majid Al Futtaim’s commitment to supporting the local community and economy.
Mohamed Khafaga, Country Manager of Majid Al Futtaim Retail in Egypt, commented: “The opening of the first Supeco store in the Fayoum Governorate marks a significant milestone in supporting local communities and meeting their needs, providing added convenience and accessibility.”
“This achievement aligns with the company’s broader strategy to expand Supeco’s presence across various Egyptian governorates, particularly in the Delta and Upper Egypt regions,” Khafaga added.
Majid Al Futtaim currently operates 13 Supeco stores across Cairo, Alexandria, Fayoum, and Sharqia.
In the first half (H1) of 2024, the consolidated revenues of Majid Al Futtaim declined by 6% year-on-year (YoY) to AED 16.70 billion.
