Savola-owned Panda Retail to expand in Egypt

16/09/2015 Argaam

Saudi-based Panda Retail, formerly known as Azizia Panda United, is planning to open 16 outlets across Egypt, the North African country’s minister of supply, Khaled Hanafy, said at the opening of Panda’s first store in Cairo’s Sixth of October City.

 

Six branches will be located in Cairo and 10 will be opened in other governorates, he added. Carrefour is also planning 10 new outlets across Egypt, excluding Cairo and Alexandria.

 

The new stores will be constructed over 24 months on land owned by the Internal Trade Development Authority (ITDA), affiliated to the Ministry of Supply, Hanafy said.

 

Panda Retail is 92 percent owned by Saudi Arabia’s Savola Group. 

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