UAE’s GMG opens new office in District 5, Cairo

UAE’s GMG opens new office in District 5, Cairo

Egyptian market. It recently opened its headquarters for Africa, in District 5, Cairo. The company’s entry into Egypt follows a major expansion into Southeast Asia, where it recently opened its Asian headquarters in Malaysia. By 2025, aims to double its global workforce through acquisitions, developing fresh concepts, and entering new geographies. Since its launch in 1977, the company has introduced more than 120 international brands into its markets in addition to home-grown brand concepts. The Egyptian retail sector is one of the Middle East’s largest and is growing rapidly. Kearney’s 2021 projected an annual growth rate of around 5 per cent for Egyptian retail, rising from $200bn in 2020 to $254bn in 2025. E-commerce is experiencing a similarly positive trend, expected to increase from $7.7bn in 2022 and $13.2bn in 2025. To tap these opportunities, is also looking to increase its current Egyptian workforce 10 times in the next four years, adding more than 1,000 jobs to the Egyptian economy. These roles will be split across retail sales, administration and management roles. The UAE-based conglomerate’s latest investment builds on its bold growth plans to open more than 100 sports retail stores across Egypt by 2026 for its international and home-grown