Home Business UAE Based Carrefour Signs Joint Venture Agreement With DHA Lahore To Establish...

UAE Based Carrefour Signs Joint Venture Agreement With DHA Lahore To Establish 2 New Stores

329
0

Carrefour, fully owned and operated by UAE based Majid Al Futtaim in Pakistan, has signed a joint venture agreement (JVA) with the Defence Housing Authority (DHA) Lahore to establish two new standalone stores.

The agreement was signed by Country Manager Carrefour Pakistan, Mr Umer Lodhi, at Majid Al Futtaim Retail, and Administrator DHA Lahore in the presence of Chief Operating Officer Majid Al Futtaim Retail, Thierry Louis Joulin, at DHA Head Office, Lahore.

This initiative will enable the stores to not only expand their local footprint as the retail leader in the country but also provide economic support to at least 500 households through the creation of direct and indirect jobs.

Carrefour’s PKR 1 billion investment for the establishment of these two new stores brings the total investment to PKR 11 billion the retailer has already made towards the retail industry in Pakistan.

Notably, these ventures underscore Carrefour’s dedication to becoming a trusted local partner that creates value for the industry and Pakistani economy. As a testament to this, Carrefour works with more than 700 suppliers and partners across Pakistan, sourcing 99 per cent of its products locally.

This most recent investment will bring customers greater access to affordable, high-quality products while also supporting the nation’s supply chain.

Commenting on the ceremony, Country Manager Carrefour Pakistan, Mr. Umer Lodhi, said: “As the economy begins to return to its pre-pandemic course and both Carrefour stores prepare to serve a wider customer, we are also working together to provide economic support to hundreds of households. This reflects our commitment in action for the local economy’s revival as we provide business and employment opportunities for greater and more inclusive economic prosperity.”

Administrator DHA Lahore said, “This JV with Carrefour is our testament to building on our commitment to creating a world-class sustainable and congenial community living experience for our worthy residents.”

In addition to the convenience of in-store shopping for quality products at its ten stores in Pakistan, Carrefour also offers its delivery service through the Carrefour app to better serve its customers.’’

Majid Al Futtaim Company

Majid Al Futtaim is one of the leading drivers of economic growth and impact in the Middle East and North Africa. It is also recognized as a leading foreign direct investor.

Majid Al Futtaim brand is a legacy that represents its founder’s heritage, culture and vision for a future where families, friends and communities connect, create and experience great moments, every day.

From early beginnings, Majid Al Futtaim is today a symbol of strength, focus and distinction, having continually set new benchmarks for innovation and excellence. This is represented by the Majid Al Futtaim brand, which is symbolic of the inspiration, icon and identity that defines their identity and vision.

Each individual brand, destination and space provide families, friends and communities with endless opportunities to craft memories.

For more details, visit www.majidalfuttaim.com.

For all the latest updates and news, visit CxO Global FORUM.

 

Previous articleTelecoms group Orange profits up 1%
Next articleSaudi Telecom Company TAWAL set to Acquire AWAL Telecom