Majid Al Futtaim Group

Majid Al Futtaim Group
Native name
 ماجد الفطيم
Private
Industry
Founded 1992 (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 as of 2015 owned and operated shopping malls, retail, and leisure establishments in the Middle East and North Africa, with operations in 13 countries .[2][4][5][6] The group was established by Majid Al Futtaim in 1992.[7] Majid Al Futtaim manages three major operating subsidiaries: Majid Al Futtaim Properties, Majid Al Futtaim Retail, and Majid Al Futtaim Ventures.

Regions

As of 2015 the holding company worked in 13 countries: UAE, Lebanon, Egypt, Saudi Arabia,[8] Oman, Bahrain,[9] Kuwait, Qatar,[10] Jordan, Pakistan,[11] Iraq,[12] Armenia, and Georgia.[13]

Majid Al Futtaim Properties

Majid Al Futtaim Properties[14] develops, owns and manages shopping malls throughout the MENA region.

Shopping malls

Majid Al Futtaim Properties owns nineteen shopping malls in the MENA region as of January 2016.[15] Some of the most notable shopping malls include:

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. Majid Al Futtaim Properties owns and operates twelve hotels, including:

Majid Al Futtaim Retail

Majid Al Futtaim Retail introduced the Carrefour brand to the Middle East in 1995, opening the region's first hypermarket at City Centre Deira.[5][17] The company holds exclusive rights to the Carrefour franchise in 38 markets across the Middle East, Africa and Central Asia, operating a portfolio of 65 hypermarkets and 85 supermarkets in 14 countries.[18]

Majid Al Futtaim Ventures

Majid Al Futtaim Ventures is a group of companies that offer amenities such as cinemas, leisure and entertainment, financial services, fashion and healthcare and JVs in facility management and food and beverage.[19]

Leisure & Entertainment

Majid Al Futtaim Leisure and Entertainment operates Ski Dubai, an indoor ski resort with 22,500 square meters of indoor ski area at the Mall of the Emirates,[20] as well as 18 Magic Planet family entertainment centres.[21] In addition, Magic Planet operates a facility within City Centre Mirdif that includes indoor skydiving, an edutainment centre, a bowling alley, a climbing wall, and a water-based rides and games center aimed at young children.[22] The company also owns a temperature controlled indoor and outdoor water park and the first Lego store in the Middle East in Abu Dhabi.[23]

Cinemas

Majid Al Futtaim has 129 cinema screens across the UAE, Lebanon and Oman under the VOX Cinemas brand.[24] The VOX Cinemas in the Mall of the Emirates is considered as the flagship venture featuring 24 screens – including an IMAX with Laser, VOX 4DX auditorium, a luxury cinema experience called “THEATRE by Rhodes” and VOX Kids. The 100,000sq ft venue is considered the largest complex in the Middle East after it's re-launch in September 28, 2015.

References

  1. ↑ "Majid Al Futtaim". Forbes.com LLC™. Forbes. 2013. Retrieved 26 January 2014.
  2. 1 2 3 "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. 1 2 3 "MAF FY14 Results". KPMG Lower Gulf Limited. March 28, 2015.
  4. ↑ "Majid Al Futtaim, United Arab Emirates". Global Village Encyclopedia. Open Publishing. 2014. Retrieved 26 January 2014.
  5. 1 2 "Company Overview of Majid Al Futtaim Holding LLC". Businessweek.com. Open Publishing. 2014. Retrieved 26 January 2014.
  6. ↑ 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.
  7. ↑ "Majid Al Futtaim". Forbes.com LLC. Forbes. 2013. Retrieved 26 January 2014.
  8. ↑ "Dubai's Majid Al Futtaim Rules Out IPO, Plans Egypt, Saudi Expansion". gulfbusiness.com. Guld Business. 2015. Retrieved 14 May 2015.
  9. ↑ "MAF plots regional expansion". www.arabianbusiness.com. Arabian Business. 2004. Retrieved 14 May 2015.
  10. ↑ "Majid Al Futtaim Launches New Carrefour City Stores In Dubai". gulfbusiness.com. Gulf Business. 2014. Retrieved 14 May 2015.
  11. ↑ "Majid Al Futtaim (MAF) Group Shopping Malls". www.dubaifaqs.com. Dubai FAQs. 2015. Retrieved 14 May 2015.
  12. ↑ "Carrefour to debut in Iraq and Lebanon". www.franchise.ae. Franchise.ae. 2011. Retrieved 14 May 2015.
  13. ↑ "UAE's Majid Al Futtaim to expand Carrefour brand". www.arabianbusiness.com. Arabian Business. 2012. Retrieved 14 May 2015.
  14. 1 2 Hamdan, Sara (May 2, 2012). "Dubai Finesses Ease of Luxury Shopping for Chinese". The New York Times. Retrieved 23 January 2014.
  15. ↑ Algethami, Sarah (25 January 2016). "Dubai’s Al Shindagha area gets a new mall". Gulf News Retail. Gulf News. Retrieved 26 January 2016.
  16. ↑ "Starwood opens Sheraton Dubai Mall of the Emirates". hoteliermiddleeast.com. 2013. Retrieved 18 March 2015.
  17. ↑ "Majid Al Futtaim in Dh2.5 billion Carrefour deal to buy hypermarkets". www.thenational.ae. The National. 2013. Retrieved 13 May 2015.
  18. ↑ "Nasdaq Dubai welcomes listing of 500 million dollar Sukuk by Majid Al Futtaim" (PDF). MAF Press Release. Majid Al Futtaim. December 13, 2015. Retrieved 26 January 2016.
  19. ↑ "Dubai mall firm Majid Al Futtaim H1 revenue rises 7%", Gulf Business, 5 August 2015. Accessed 26 August 2015.
  20. ↑ "8 unusual places to have the ski holiday of a lifetime". www.thevine.com. The Vine. 2014. Retrieved 13 May 2015.
  21. ↑ "Magic Planet opens second outlet in Bahrain". www.tradearabia.com. Trade Arabia. 2015. Retrieved 13 May 2015.
  22. ↑ "New A380 Simulator Launched In Dubai's Mirdif City Centre". www.gulfbusiness.com. Gulf Arabia. 2014. Retrieved 13 May 2015.
  23. ↑ "Lego Opens First MENA Store In Abu Dhabi, Plans Dubai Store "Soon"". www.gulfbusiness.com. Gulf Business. 2014. Retrieved 13 May 2015.
  24. ↑ "Majid Al Futtaim To Invest Dhs750m In VOX Cinemas Expansion". www.gulfbusiness.com. Gulf Business. 2014. Retrieved 13 May 2015.

External links

This article is issued from Wikipedia - version of the Sunday, February 07, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.