Lebanon Businessnews News

One billion dollars in investment
planned by Majid Al Futtaim
CEO Bejjani: Sticking with same sectors
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Out of the $2 billion earmarked for ’Lebanon's projects, the UAE-based Majid Al Futtaim Holding still has $1 billion to go, according to Alain Bejjani, CEO of Majid Al Futtaim. Majid Al Futtaim is the developer of Beirut City Centre, Waterfront City, Carrefour, VOX cinemas, and Magic Planet.

Bejjani said: “We have already invested $1 billion in our various affiliations in Lebanon. The balance will be invested in the coming years, in the same sectors we are already involved in.”

Majid Al Futtaim is planning to build a mall in Waterfront City. Bejjani said that MAF’s investments in Lebanon are for the long term. It aims at developing new projects, operating them, and then moving on to new ones.

Majid Al Futtaim has created 6,000 direct and indirect local jobs since its entry into the country. It considers its investment in Lebanon so far as successful as those of all of its affiliations. “We are optimistic about our long term profitability,” said Bejjani.
Reported by Rania Ghanem
Date Posted: Jul 20, 2015
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