Majid Al Futtaim Net Worth is$3.6 Billion
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Majid Al Futtaim net worth: Majid Al Futtaim is an Arab real estate developer and billionaire who has a net worth of $3.6 billion. Majid Al Futtaim is the brother of billionaire Abdulla Al Futtaim, who is running the automobile business retail sector of the family conglomerate Al Futtaim Group. After the family split its business interests in 2000, Majid Al Futtaim took in his possession the property development business, which is nowadays known as Majid Al Futtaim Group. Headquartered in Dubai, Majid's group develops shopping malls across the MENA region. The group's flagship enterprise is the Mall of the Emirates, while the mall that was opened in September 2005, has as its anchor tenant the biggest Carrefour hypermarket in Dubai. The signature operating arm of the group is Majid Al Futtaim Properties, which is running eleven shopping malls in the UAE, Egypt, Oman and Bahrain. A new mall is supposed to be finished in 2013, another in 2014, and one in 2015. Furthermore, the group currently manages 11 hotels including Pullman and Kempinski hotels, both of which are adjacent to the Mall of the Emirates.
Majid Al Futtaim Holding (U??????? ??U?U???U?U?) is part of a Dubai, United Arab Emirates based conglomerate owned by Majid Al Futtaim, a real estate developer and billionaire. As of March 2013, his net worth was estimated by Forbes to be $3.6 billion, making him the 376th richest person in the world and the richest in UAE.
The group develops shopping malls throughout the MENA region. Headquartered in Dubai in the United Arab Emirates (UAE), the group's flagship enterprise is the Mall of the Emirates comprising 223,000 square metres of shopping space hosting 520 international retail brands, including department stores, fashion boutiques, lifestyle shops, sports centres, electronics and home furnishing outlets, a Magic Planet family entertainment area, a 14-screen multiplex cinema, and the world-famous indoor-ski slopes known as Ski Dubai. The mall, which opened in September 2005, has as its anchor tenant the biggest Carrefour hypermarket in Dubai. A joint venture between Majid Al Futtaim Group (75%) and Carrefour (25%) is developing a chain of the international chain's hypermarkets across the MENA and Central Asia regions. Majid Al Futtaim Properties is the signature operating arm of the group, operating eleven shopping malls in the UAE, Egypt, Oman and Bahrain. A new mall is expected to be completed in 2013, another in 2014, and one in 2015. As at December 31 2011, MAF Properties controlled nearly one million square metres of leasable retail space (943,471 square meters to be exact), and attracted 136 million customers. Additionally MAF Properties has embarked on a plan to add four and five star hotels adjacent to the shopping malls it develops and operates. The group now operates 11 hotels including Pullman and Kempinski hotels, both adjacent to the Mall of the Emirates.

Majid Al Futtaim Latest News

Majid Al Futtaim to develop RO 45m mall in Suhar

MUSCAT, AUG 6 – Majid Al Futtaim — the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia — will grow its existing portfolio of pioneering malls in Oman with City Centre Suhar. The mall, located in ...
Posted: August 7, 2017, 6:29 am

UAE’s Majid Al Futtaim announces plans for $117m Sohar mall

UAE-based malls and retail firm Majid Al Futtaim (MAF) has announced plans for a new OMR45m ($116.8m) shopping centre in the Omani city of Sohar. City Centre Sohar, on Batinah Highway, will include 130 stores, a Carrefour hypermarket and a nine-screen VOX ...
Posted: August 7, 2017, 1:00 am

Majid Al Futtaim to build $117m City Centre Sohar

Majid Al Futtaim, the UAE-based shopping mall, communities, retail and leisure developer operating across the Middle East, has announced the launch of a new project in Sohar, the capital of the Sultanate of Oman’s Northern Governorate. Scheduled to open ...
Posted: August 6, 2017, 1:00 am

No job cuts following Geant purchase says Ski Dubai builder Majid Al Futtaim

LONDON: The new owner of Geant stores across the UAE, Bahrain and Kuwait has pledged to retain existing employees following one of the region’s biggest retail takeovers. Majid Al Futtaim, the retail group that brought an indoor ski slope to Dubai, on ...
Posted: August 3, 2017, 1:26 pm

Majid Al Futtaim announces $116.8 million City Centre Sohar in Oman

:: Shopping mall operator and retail firm Majid Al Futtaim has announced plans for a $116.8 million (SR438 million) shopping center in the Omani city of Sohar. City Centre Sohar, which will have 130 stores, a Carrefour Hypermarket and a nine-screen VOX ...
Posted: August 6, 2017, 4:22 pm
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