Egypt’s prime minister has endorsed Majid Al Futtaim’s (MAF) five-year Dh8.7 billion investment plan in the country.
The UAE company behind the Mall of the Emirates and the City Centre mall brands announced plans this year for the development of three new shopping malls in Egypt, together with the redevelopment of City Centre malls in Maadi and Alexandria.
MAF is also set to open another 32 Carrefour hypermarket outlets countrywide. The combined projects are expected to generate more than 125,000 direct and indirect jobs.
MAF said yesterday that it had received an official endorsement for its projects from the prime minister, Ibrahim Mahleb, during an official visit by the company’s chief executive, Iyad Malas, and its head of Egyptian operations, Abdalla El Nockrashy.
“Egypt continues to be a key market for us and we remain committed to our investments there,” said Mr Malas.
The prime minister’s endorsement of MAF’s investment plan is the latest demonstration of deepening economic ties between the UAE and Egypt.
This comes after the UAE extended US$6bn of support to the country following the removal of the former president, Mohammed Morsi, in July.
This month Arabtec announced a US$40 billion contract for the construction of one million homes.
Last month Emaar Properties’ Egyptian unit, Emaar Misr, announced it would spend up to 6bn pounds on a residential and commercial scheme in Cairo.
MAF has had operations in Egypt for more than 10 years. Last year the company began construction of the 4.9bn pound Mall of Egypt in Cairo, which is expected to create 41,000 jobs.
jeverington@thenational.ae
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The Energy Research Centre
Founded 50 years ago as a nuclear research institute, scientists at the centre believed nuclear would be the “solution for everything”.
Although they still do, they discovered in 1955 that the Netherlands had a lot of natural gas. “We still had the idea that, by 2000, it would all be nuclear,” said Harm Jeeninga, director of business and programme development at the centre.
"In the 1990s, we found out about global warming so we focused on energy savings and tackling the greenhouse gas effect.”
The energy centre’s research focuses on biomass, energy efficiency, the environment, wind and solar, as well as energy engineering and socio-economic research.
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Why are you, you?
Why are you, you?
From this question, a new beginning.
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with the unique light of art.
Ben Okri,
HEADLINE HERE
- I would recommend writing out the text in the body
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MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
Pupils in Abu Dhabi are learning the importance of being active, eating well and leading a healthy lifestyle now and throughout adulthood, thanks to a newly launched programme 'Healthy Lifestyle'.
As part of the Healthy Lifestyle programme, specially trained coaches from City Football Schools, along with Healthpoint physicians have visited schools throughout Abu Dhabi to give fun and interactive lessons on working out regularly, making the right food choices, getting enough sleep and staying hydrated, just like their favourite footballers.
Organised by Manchester City FC and Healthpoint, Manchester City FC’s regional healthcare partner and part of Mubadala’s healthcare network, the ‘Healthy Lifestyle’ programme will visit 15 schools, meeting around 1,000 youngsters over the next five months.
Designed to give pupils all the information they need to improve their diet and fitness habits at home, at school and as they grow up, coaches from City Football Schools will work alongside teachers to lead the youngsters through a series of fun, creative and educational classes as well as activities, including playing football and other games.
Dr Mai Ahmed Al Jaber, head of public health at Healthpoint, said: “The programme has different aspects - diet, exercise, sleep and mental well-being. By having a focus on each of those and delivering information in a way that children can absorb easily it can help to address childhood obesity."
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
