French supermarket chain Carrefour is to expand its growing presence in the Middle East by opening in Iran and Syria.
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According to sources such as the Dubai-based Majid Al Futtaim Group, Carrefour’s franchise operator in the region, an outlet should open in Tehran in mid-2008, and Syria by 2010.
Two possible locations have been given for the Carrefour in Syria. One is at the Eighth Gate, a US$500m Damascus residential and mall complex currently under construction by Dubai’s Emaar.
The more likely location will be at a $1bn hotel, residential and commercial complex outside of Damascus that is to be built by the Majid Al Futtaim Group.
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By GlobalData
