(MENAFN) Majid Al Futtaim, the retail and leisure pioneer across the Middle East and North Africa (MENA), increased its total investments from USD2.35 billion to USD2.94 billion, Saudi Gazette reported.
The MoU is set for a new additional investment of USD523.08 million is allocated for the development of four neighborhood centers in the new residential cities in Cairo as well as the development of four new shopping malls in greater Cairo.
Moreover, USD65.38 million worth of investments will be allocated to introduce the largest and first local VOX cinemas over the coming five years.
"The government succeeded in creating an investment climate that has encouraged Majid Al Futtaim to increase its investment to USD2.94billion," CEO of Majid Al Futtaim said in a statement.
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