Majid Al Futtaim Group

Majid Al Futtaim Group
Native name
 ماجد الفطيم
Private
Industry
Founded 1992
Founder Majid Al Futtaim[1]
Headquarters Dubai, United Arab Emirates
Number of locations
 13 countries (2015)[2]
Area served
 Middle East, Africa and Central Asia
Key people
  • Sir Michael Rake (Chairman)
  • Alain Bejjani (CEO, Holding)
  • Eric Legros (CEO, Retail)
  • Ahmed Galal Ismail (CEO, Ventures)
Revenue Increase AED 25 billion (2014) [3]
Increase AED 3.6 billion (2014)[3]
Total assets Increase AED 45 billion (2014)[3]
Number of employees
 27,000 (2015) [2]
Subsidiaries
  • Majid Al Futtaim Properties

    Majid Al Futtaim Retail

    Majid Al Futtaim Ventures
Website www.majidalfuttaim.com

Majid Al Futtaim (Arabic: ماجد الفطيم‎) is an Emirati holding company based in Dubai, that owns and operates shopping malls, retail, and leisure establishments in the Middle East and North Africa, with operations in 13 countries and over 27,000 employees.[2][4] The group was established by businessman Majid Al Futtaim in 1992.[1] Majid Al Futtaim manages three major operating subsidiaries: Majid Al Futtaim Properties, Majid Al Futtaim Retail, and Majid Al Futtaim Ventures.

Majid Al Futtaim Group is one of the MENA region's developers of large commercial retail properties.[2][5][6] The group owns and operates 17 shopping malls with over one million square meters of GLA (Gross Leasable Area), 58 hypermarkets and 69 supermarkets, 11 hotels, 3 mixed-use communities, 9 movie theater locations with 129 screens, 45 fashion stores, and 17 Magic Planet sites across the region in addition to leisure and entertainment destinations such as Ski Dubai and iFly Dubai.[2][6]

Majid Al Futtaim Properties

Majid Al Futtaim Properties[7] develops, owns and manages shopping malls throughout the MENA region.

Shopping malls

Majid Al Futtaim Properties shopping malls' portfolio includes:

Hotels

The Hotels Business Unit focuses on the development and asset management of hotels connected to or close to the company's shopping malls and within its master-planned communities. Hotels at Majid Al Futtaim Properties include 11 operational hotels.

Communities

The Communities Business Unit focuses primarily on developing a mix of residential and commercial properties throughout the MENA region.

Majid Al Futtaim Ventures

Majid Al Futtaim Ventures is responsible for all leisure, entertainment & cinema facilities and also manages the Healthcare & Financial services.

Leisure & Entertainment

Fashion Brands

Majid Al Futtaim Fashion has the rights to operate the following brands throughout the region:[8]

References

  1. ↑ 1.0 1.1 "Majid Al Futtaim". Forbes.com LLC™. Forbes. 2013. Retrieved 26 January 2014.
  2. ↑ 2.0 2.1 2.2 2.3 2.4 "Majid Al Futtaim Celebrates Two Decades of Great Moments Since Pioneering the Middle East s First Integrated Retail Experience". lianapress.ae. Liana Press. Mar 31, 2015. Retrieved 15 April 2015.
  3. ↑ 3.0 3.1 3.2 "MAF FY14 Results". KPMG Lower Gulf Limited. March 28, 2015.
  4. ↑ Press Release (May 22, 2013). "Carrefour and Majid Al Futtaim Holding Reorganize and Strengthen Their Partnership". online.wsj.com. The Wall Street Journal. Retrieved January 29, 2014.
  5. ↑ "Majid Al Futtaim, United Arab Emirates". Global Village Encyclopedia. Open Publishing. 2014. Retrieved 26 January 2014.
  6. ↑ 6.0 6.1 "Company Overview of Majid Al Futtaim Holding LLC". Businessweek.com. Open Publishing. 2014. Retrieved 26 January 2014.
  7. ↑ 7.0 7.1 Hamdan, Sara (May 2, 2012). "Dubai Finesses Ease of Luxury Shopping for Chinese". The New York Times. Retrieved 23 January 2014.
  8. ↑ Company Website (May 22, 2013). "Majid Al Futtaim Fashion Brands". majidalfuttaim.com. Majid Al Futtaim. Retrieved May 18, 2014.

Further reading

External links