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UAE Majid Al Futtaim Retail is targeting 10% revenue growth in 2018, as it continues to expand its store network around the world.
The company plans to invest between DH1.5bn (US$408.4m) and DH2bn (US$544.5m) in expanding Carrefour’s store portfolio by 2021, with Saudi Arabia, Egypt, Pakistan and East Africa the key growth markets outside the UAE.
In many of the markets that MAF has outlined for expansion, modern trade is still at its infancy. The retailer's clean and modern stores are setting new standards, offering shoppers greater choice of products including local and global brands, and a destination to shop for food and grocery, home, personal care and general merchandise under one roof.
CEO of Majid Al Futtaim Retail, Hani Weiss, said 'We continued to see a very robust performance in 2017 and are forecasting even higher, growth this year – far above 10%.'