UAE: Majid Al Futtaim develops neighbourhood stores in expansion drive
Middle Eastern retailer Majid Al Futtaim has launched a neighbourhood store concept under the My City Centre banner in the UAE.
Majid Al Futtaim recently launched a new brand strategy, which unifies the company's diverse assets through a "recognised visual identity". The new My City Centre outlets offer a "similar quality to that found at Majid Al Futtaim's City Centre shopping malls" but within an "accessible and convenience-minded" environment, the company said.
"My City Centre is a continuation of Majid Al Futtaim's new brand strategy, and another milestone demonstrating the growing momentum of our expansion plans driven by new concepts, into new markets," said Dimitri Vazelakis, executive managing director of shopping malls.
Majid Al Futtaim is opening the first My City Centre store in Nasseriya and plans to expand the concept throughout the UAE.
The move comes as Majid Al Futtaim ramps up investment to expand in the Middle East and north Africa. Reports today (10 March) suggested the group is also increasing investment in other countries in the region.
According to the Egyptian Ministry of Foreign Trade, Industry and Investment, the company intends to build four shopping and 32 hypermarkets in Egypt, local reports claim.
Majid Al Futtaim was not available for further comment at time of press.
- What post-Brexit trade with the EU could look like
- Nestle catering for an ageing global population
- Mondelez on China, Hershey and Q2 results
- Unilever is "working harder" in tough environment
- Food companies can lead on workplace nutrition
- Kar's gets Non-GMO verification for Second Nature
- Kerry Foods sets its sights on C-sector
- Tesco drops John West products over sustainability
- Greencore pays GBP15m for Cranswick sandwich unit
- Mondelez less certain on 2016 revenue growth