IKEA considers injecting investment in Cairo, Alexandria

CAIRO – 21 September 2017: Swedish giant furniture store IKEA is considering injecting new investment in Cairo and Alexandria, as part of their expansion plan, Minister of Industry and Foreign Trade Tarek Kabil said Thursday.

The news came as Kabil met country manager of IKEA Group, Adosh Sharma, Thursday to discuss the company’s plans for the Egyptian market in the next period, according to a statement from the ministry.

Kabil said the announcement is attributed to improving economic indicators along with economic reform measures taken by the state to improve investment climate.

“The Egyptian market has huge investment opportunities in various industrial fields, especially in the products targeted by IKEA,” Sharma said.

IKEA has opened its doors in Egypt in late 2013 as Cairo Festival City opened in New Cairo district.