Majid Al Futtaim Hypermarkets Lebanon sal, a fully-owned subsidiary of the UAE-based Majid Al Futtaim Holding LLC (MAF), announced plans to open a Carrefour hypermarket at the Cascada Mall in the Bekaa region, which would make it the second Carrefour hypermarket in Lebanon. The 9.000 square meters hypermarket, which will be the largest outlet of its kind in the Bekaa region, is expected to open its doors in the fourth quarter of 2015, along with the formal inauguration of the mall.
The MAF Group opened its first Carrefour outlet in its Beirut City Center shopping mall, located in the southeastern Beirut suburb of Hazmieh, in April 2013. Majid Al Futtaim Hypermarkets is the franchisor and operator of the French chain Carrefour in 31 countries across the Middle East, North Africa and Sub-Saharan Africa regions.
The full opening of the Cascada Mall, the largest mall in the Bekaa, has been delayed by spillovers from the Syrian conflict into Lebanon in general and into the Bekaa region in particular. The MAF Group's other investments in Lebanon include the Waterfront City real estate project in the Dbayeh area north of Beirut. The $2bn project consists of seven buildings that will include 5.000 residential units of varying sizes, in addition to a commercial district, a shopping mall, a hotel, and dining and entertainment facilities.
Lebanon This Week – Byblos Bank