Emirati mall operator Majid Al-Futtaim has committed, on the sidelines of Egypt Economic Development Conference, to build eight malls in Egypt in an agreement with the Ministry of Investment worth LE5 billion, Egypt state news agency MENA reported.

Alain Bejjani, CEO of Majid Al-Futtaim group, signed the agreement with Ashraf Salman, minister of investment. Four malls are due to be built in the new cities the government is building, and four others in the Greater Cairo area.