Carrefour’s latest Rs1 billion investment will bring the total investment to Rs11 billion
Carrefour Pakistan, which is owned and operated by UAE-based Majid Al Futtaim, has signed a joint venture agreement with the Defence Housing Authority (DHA) Lahore to set up two standalone stores.
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.
“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 company said.
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.
“These ventures underscore Carrefour’s dedication to becoming a trusted local partner that creates value for the industry and Pakistani economy.”
“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,” said Umer Lodhi, country manager of Carrefour Pakistan.
Carrefour works with more than 700 suppliers and partners across Pakistan, sourcing 99 percent of its products locally. The recent investment will bring customers greater access to affordable, high-quality products while also supporting the nation’s supply chain, the company said.
Administrator DHA Lahore said the joint venture “is our testament on building on our commitment of creating a world class sustainable and congenial community living experience for our
worthy residents.”
In addition to the convenience of in-store shopping, Carrefour Pakistani also offers its delivery service through its app.