Carrefour Opens In Hurghada

By Scoop Team On Nov 25, 2014

carrefour3 — Carrefour and Al Hambra top management along with Gov. Ahmed Abdullah at the grand opening of Carrefour Hurghada.

Carrefour opened its doors in Hurghada this week and in the days since the ribbon cutting, business has been booming.

The French retailer’s arrival as the first supermarket of its kind in Hurghada and Upper Egypt marks a milestone in the development of the area.

carrefour2 — Carrefour Hurghada reported massive sales after its grand opening this week.

“In Egypt, it is perceived as a quality brand and for it to come to Hurghada shows the potential of investing in Hurghada as a district.” Karim Khalil, Marketing and Sales Director of Al Hambra, explained.

“With the opening of Carrefour, this is a sign that there is spending power in Hurghada. And as their team is one of the best at researching potential markets, other companies will be less hesitant to invest after the opening,” he continued.

Carrefour Hurghada is situated on the new commercial street First Avenue, which hosts a number of international brands and reflects renewed activity and investment in the area.

Foreign investment in Egypt has faltered in the years after the Jan. 25 revolution in 2011, although some industries, particularly in the FMCG arena, remain strong.

As Egypt’s political situation slowly stabilizes and with the government’s undertaking of economic reforms, the country is beginning to see promising signs of growth, among them a rebound in the stock market, rising investor confidence and the opening of new businesses.

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