Market intelligence, trend analysis and forecasts for the Food and Drink industries across the regions

Companies / Iran

Carrefour Begins Construction On First Hypermarket

August 2008 | Company News Alert

Construction has begun on the first Carrefour outlet in Iran, which is set to be opened in the first half of next year. The hypermarket will be a joint venture between local authorities in the capital Tehran, and Majid Al Futtaim Retail (MAF Retail), the local franchise partner for the French retailer. MAF Retail has made an investment of US$24mn in exchange for a 20-year lease on the land from the Tehran municipality, which will also provide the permits for the venture. According to the company, this will be the first of some 20 hypermarkets the company plans on rolling

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