The latest Carrefour investment brings the total investment to PKR 11 billion in Pakistan’s retail industry
Carrefour – fully owned and operated by UAE based Majid Al Futtaim in
Pakistan – has signed a joint venture agreement with the Defence Housing Authority (DHA) Lahore to establish two standalone stores.
Carrefour’s PKR 1 billion investment for the establishment of these two new stores brings the total investment to PKR 11 billion the retailer has already made towards the retail industry in Pakistan.
“The stores will not only expand the local footprint of the retail leader in the country but also provide economic support to at least 500 households through the creation of direct and indirect jobs.”
The agreement was signed by Umer Lodhi Country Manager, Carrefour Pakistan at Majid Al Futtaim Retail and Administrator DHA Lahore in the presence of Thierry Louis Joulin Chief Operating Officer Majid Al Futtaim Retail at DHA Head Office, Lahore, on April 26.
Umer Lodhi, the country manager of Carrefour Pakistan, said: “As the economy begins to return to its pre-pandemic course and both Carrefour stores prepare to serve a wider customer, we are also working together to provide economic support to hundreds of households. This reflects our commitment in action for the local economy’s revival as we provide business and employment opportunities for greater and more inclusive economic prosperity.”
The company said that the ventures underscore Carrefour’s dedication to becoming a trusted local partner that creates value for the industry and Pakistani economy.
Carrefour works with more than 700 suppliers and partners across Pakistan, sourcing 99 percent of its products locally. This most recent investment will bring customers greater access to affordable, high-quality products while also supporting the nation’s supply chain, the official statement said.
“This joint venture with Carrefour is our testament on building on our commitment of creating a world-class sustainable and congenial community living experience for our
worthy residents,” Administrator DHA Lahore said.