December 4, 2019 / 10:12 AM / 9 days ago

Al-Futtaim Group to invest in Saudi, other emerging markets - CEO

CAIRO, Dec 4 (Reuters) - Dubai-based Al-Futtaim Group will spend 2 billion Saudi riyals ($533.6 million) building cinemas in Saudi Arabia as part of a five-year 16 billion riyal investment plan, its CEO said on Wednesday.

Al-Futtaim also plans to expand in Egypt, Uzbekistan and Uganda, chief executive Alain Bejjani told Reuters in an interview. The company began the Saudi expansion plan a year and a half ago. ($1 = 3.7498 Saudi riyals) (Reporting by Ehab Farouk; Writing by Yousef Saba; Editing by Louise Heavens)

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