Two new Carrefour stores to open by end 2023 to lift MAF total investment to PKR 11.5 billion

According to a recent news story, Majid Al Futtaim (MAF), the UAE group behind the Carrefour chain in Pakistan, has broken ground towards opening the hypermarket chain's 12th store in the country.

The latest outlet will be located in DHA Rahbar, Lahore while work is already underway on the eleventh store situated in DHA Lahore's Phase VII. Like all the others, both new outlets will be company operated with a timeline to open by end of 2023.

In January 2022, the UAE conglomerate was reported to have invested an additional PKR 1 billion on top its already invested PKR 9.5 billion till the time. Now a further investment of another billion rupees (around US$ 3.5 million) in its latest expansion will take the total to PKR 11.5 billion.

Later in December 2022, Hani Weiss - CEO of Majid Al Futtaim - mentioned in an interview that the company had also diversified its offering in Pakistan with the launch of its health and beauty concept, myli. The mono-branded presence, located inside both Carrefour outlets at Lahore's Packages Mall and Fortress Mall, offers a wide variety of quality products including cosmetics, fragrances, as well as hair and skin care.