U.S. Markets open in 1 hr 47 mins

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

(Corrects company name in headline and text to Majid Al Futtaim, not Al-Futtaim Group)

CAIRO, Dec 4 (Reuters) - Dubai-based Majid Al Futtaim 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.

Majid 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)