STM has signed a memorandum of understanding (MoU) with Majid Al Futtaim, the exclusive operator of the Carrefour brand in Egypt, marking a strategic move to strengthen the retail sector and expand modern shopping destinations across STM’s developments.
Under the agreement, Carrefour and Supeco stores will be rolled out across selected STM projects, with the first phase set to begin with the opening of a Carrefour outlet at Kayan Plaza Mall in Kayan City.
The partnership reflects a shared vision between the two companies to enhance retail offerings and deliver an integrated and distinctive shopping experience for consumers.
The MoU was signed by Shady Selim, CEO of STM, and Mohamed Khafaga, Regional Director of Majid Al Futtaim Retail in Egypt, in the presence of senior executives from both companies.
Commenting on the agreement, Selim said the partnership represents a key pillar of STM’s strategic expansion plans and underscores the company’s commitment to building strong alliances with leading regional and international retail operators. He added that the collaboration supports STM’s vision of developing fully integrated commercial destinations that cater to the evolving needs of consumers.
The partnership is expected to contribute to the development of the retail landscape within STM’s projects, combining Majid Al Futtaim’s extensive expertise in retail operations with STM’s expanding portfolio of mixed-use developments.
