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Majid Al Futtaim Group

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Not to be confused with Al-Futtaim Group.
Majid Al Futtaim Group
Native name
ماجد الفطيم
Company typePrivate
Industry
FoundedMay 11, 1992; 32 years ago (1992-05-11)
FounderMajid Al Futtaim Owner [1]
HeadquartersDubai, 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)
  • Hani Weiss (CEO, Retail)
  • Ahmed Galal Ismail (CEO, Ventures)
RevenueIncrease AED 25 billion (2014) [3]
Increase AED 3.6 billion (2014)[3]
Total assetsIncrease 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
Websitewww.majidalfuttaim.com

Majid Al Futtaim (Arabic: ماجد الفطيم) is an Emirati multinational conglomerate which owns and operates shopping malls, retail, and leisure establishments across the Middle East, Africa and Asia.[4][5] The company was established by Emirati billionnaire Majid Al Futtaim[6] in 1992. Its headquarters are located in Dubai, United Arab Emirates.[7] The conglomerate manages three major operating subsidiaries: Majid Al Futtaim Properties, Majid Al Futtaim Retail, and Majid Al Futtaim Ventures.

History

Majid Al Futtaim group was founded in 1992 as Majid Al Futtaim Holding, (formerly known as MAF), by Emirati billionaire Majid Al Futtaim. In 1995, the group opened City Centre Deira, their first shopping mall in the United Arab Emirates. They haves since grown into one of the world’s largest retailers spanning 15 international markets, employing more than 40,000 people.

Subsidiaries

Majid Al Futtaim Properties

Majid Al Futtaim Properties develops, owns and manages shopping malls and hotels throughout the MENA region.[8] 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. It owned and operated twelve hotels as of 2015.[9][10]

Majid Al Futtaim Retail

Majid Al Futtaim Retail introduced the Carrefour brand (initially called Continente) to the Middle East in 1995, opening the region's first hypermarket at City Centre Deira.[7][11] 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.[12] In 2014, all Carrefour outlets owned or operated by Majid Al Futtaim had their logo changed from the official Carrefour logo to the MAF "M" logo based on the parent company's rebrand strategy.[13]

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 beverages.[14]

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,[15] as well as 18 Magic Planet family entertainment centres.[16] In addition, Magic Planet operates a facility within City Centre Mirdif,[17] a temperature controlled indoor and outdoor water park, and the first Lego store in the Middle East in Abu Dhabi.[18]

Cinemas

Majid Al Futtaim has 129+ cinema screens across the UAE, Lebanon, Qatar, Bahrain, Kuwait, Egypt, Saudi Arabia, and Oman under the VOX Cinemas brand.[19] 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 its re-launch in September 28, 2015.

References

  1. ^ "Majid Al Futtaim". Forbes.com LLC™. Forbes. 2013. Retrieved January 26, 2014.
  2. ^ a b "Majid Al Futtaim Celebrates Two Decades of Great Moments Since Pioneering the Middle East s First Integrated Retail Experience". lianapress.ae. Liana Press. March 31, 2015. Retrieved April 15, 2015.
  3. ^ a b c "MAF FY14 Results". KPMG Lower Gulf Limited. March 28, 2015.
  4. ^ "Majid Al Futtaim, United Arab Emirates". Global Village Encyclopedia. Open Publishing. 2014. Archived from the original on February 1, 2014. Retrieved January 26, 2014. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  5. ^ 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.
  6. ^ "Majid Al Futtaim". Forbes.com LLC. Forbes. 2013. Retrieved January 26, 2014.
  7. ^ a b "Company Overview of Majid Al Futtaim Holding LLC". Businessweek.com. Open Publishing. 2014. Retrieved January 26, 2014.
  8. ^ Hamdan, Sara (May 2, 2012). "Dubai Finesses Ease of Luxury Shopping for Chinese". The New York Times. Retrieved January 23, 2014. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  9. ^ "Majid Al Futtaim Properties in Dubai". majidalfuttaim.com. 2015.
  10. ^ "Largest Hilton Garden Inn Outside America Opens in Dubai". hiltongardeninn.com. 2016. Retrieved December 24, 2015.
  11. ^ "Majid Al Futtaim in Dh2.5 billion Carrefour deal to buy hypermarkets". www.thenational.ae. The National. 2013. Retrieved May 13, 2015.
  12. ^ "Nasdaq Dubai welcomes listing of 500 million dollar Sukuk by Majid Al Futtaim" (PDF). MAF Press Release. Majid Al Futtaim. December 13, 2015. Retrieved January 26, 2016.
  13. ^ "Majid Al Futtaim unveils new brand strategy to embark on next chapter of expansion". MAF Press Release. Majid Al Futtaim. December 16, 2013. Retrieved January 14, 2018.
  14. ^ "Dubai mall firm Majid Al Futtaim H1 revenue rises 7%", Gulf Business, 5 August 2015. Accessed 26 August 2015.
  15. ^ "8 unusual places to have the ski holiday of a lifetime". www.thevine.com. The Vine. 2014. Retrieved May 13, 2015.
  16. ^ "Magic Planet opens second outlet in Bahrain". www.tradearabia.com. Trade Arabia. 2015. Retrieved May 13, 2015.
  17. ^ "New A380 Simulator Launched In Dubai's Mirdif City Centre". www.gulfbusiness.com. Gulf Arabia. 2014. Retrieved May 13, 2015.
  18. ^ "Lego Opens First MENA Store In Abu Dhabi, Plans Dubai Store "Soon"". www.gulfbusiness.com. Gulf Business. 2014. Retrieved May 13, 2015.
  19. ^ "Majid Al Futtaim To Invest Dhs750m In VOX Cinemas Expansion". www.gulfbusiness.com. Gulf Business. 2014. Retrieved May 13, 2015.
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