Company Insights Majid Al Futtaim Group Retail Majid Al Futtaim Group Overview Majid Al Futtaim Holding is a family-owned Emirati holding company based in Dubai. It owns and operates shopping malls and other retail and hospitality businesses across the Middle East and North Africa. Its business arms include Majid Al Futtaim Properties, Majid Al Futtaim Retail and Majid Al Futtaim Ventures. Majid Al Futtaim Properties’ malls include the Mall of the Emirates in Dubai, the Mall of Egypt, the Mall of Oman and the City Centre chain of malls in locations such as Manama, Muscat and Fujairah. Since entering a joint venture in 1995, Majid Al Futtaim has been the Mena franchisee and operator of French supermarket chain Carrefour, taking full control in 2013 when Carrefour divested its 25 percent share. It has also bought and rebranded other hypermarkets in the region to the Carrefour brand, such as Géant in the UAE, Kuwait and Bahrain, and Hyperstar in Pakistan. Brands operating in Mena under the Majid Al Futtaim Fashion umbrella include Abercrombie & Fitch, Hollister, Lululemon and Liz Claiborne. It also operates home furnishing retailer Crate & Barrel.Majid Al Futtaim Ventures runs companies such as cinemas and leisure facilities. These include a range of waterparks and indoor ski venues, along with more than 300 cinema screens across the region, as well as toy retailers Lego and American Girl. Majid Al Futtaim Group News Real Estate Majid Al Futtaim unit to invest $5bn in Riyadh project Dubai-based Majid Al Futtaim Properties is set to develop a SAR17.5 billion ($4.7 billion) mixed-use project in Riyadh as part of its strategy to expand its regional real estate footprint. The project will cover 850,000 sq m, Arabic news portal Al Arabia reported, quoting CEO Ahmed El Shamy. He said engineering designs are in progress, […] April 16, 2025 Retail Majid Al Futtaim reports 6% profit drop as sales slow Shopping mall owner Majid Al Futtaim has reported a drop in profit for 2024, attributing the decline to lower retail revenue, a higher tax burden and currency devaluation in some of its international markets. Total revenue fell 2 percent to AED33.9 billion ($9.2 billion) and profit dropped 6 percent to AED2.5 billion in 2024, MAF […] March 24, 2025 Opinion Trade UAE-Kenya trade deal paves way for investment boost The Cepa will boost agricultural exports and drive infrastructure spending February 25, 2025 Economy Slow restart predicted for GCC aid to Lebanon A resumption of badly needed GCC financial aid to Lebanon may take time, even though most Gulf countries have given their blessing to the new Lebanese president Joseph Aoun, according to observers. The six nations of the Gulf Cooperation Council were previously among the biggest aid donors and investors in Lebanon, before they cut assistance as […] January 14, 2025 Retail Dubai’s Majid Al Futtaim closes Carrefour in Oman Dubai-based retail conglomerate Majid Al Futtaim has launched its new grocery retail brand HyperMax in Oman, according to reports, after closing all of its Carrefour stores in the sultanate. It follows a similar move in Jordan in November where its Carrefour franchise brand ceased operations and 34 HyperMax locations were opened across the country. Carrefour […] January 8, 2025 Retail MAF Lifestyle awaits ‘stability’ before entering Egypt The lifestyle arm of the UAE conglomerate Majid Al Futtaim is looking for opportunities to expand into Egypt. However, there must be “stability” in the country before any move is made, MAF Lifestyle’s CEO, Fahed Ghanim, has told AGBI. Majid Al Futtaim as a group already runs operations in Egypt, including the Mall of Egypt […] December 30, 2024 Video length: 04:53 Analysis Retail Rise in retail M&A predicted as Gulf stores struggle An increase in mergers and acquisitions in the GCC’s retail sector has been predicted for this year, as operators try to cope with an increasingly uncertain economic environment. Six retail M&A deals have taken place since the beginning of 2023, all involving intra-regional players. Thirteen retail M&A deals were concluded in 2022, of which five […] September 30, 2024 Retail Carrefour and Dubai’s Apparel Group plan India expansion Dubai’s Apparel Group has teamed up with Carrefour to take the French supermarket retailer into the Indian market. The franchise agreement will see the first five Carrefour stores open in 2025, with a particular focus on the north of India, before expanding nationwide. “This partnership represents a significant step in strengthening our position in India,” […] September 9, 2024 Retail Majid Al Futtaim retail revenue drop drags H1 profit Increasingly frugal shoppers and currency devaluations led the retail division of UAE conglomerate Majid Al Futtaim to report an 11 percent year-on-year drop in revenue in the first half of the year, resulting in its net profit dropping 6 percent. The company’s retail operations account for around 70 percent of its total business and consist […] August 27, 2024 Video length: 07:34 Analysis Retail Retail staff shortage dents GCC shopper satisfaction Shoppers across the Gulf Cooperation Council countries are being put off their purchases by a shortage of skilled staff in the region’s retail sector, as prices of products continue to rise. Annual retail sales in the six GCC countries are expected to grow to $300 billion by 2028, a 37 percent increase from 2022. But […] August 21, 2024 Posts navigation 1 2 … 6 Next
Real Estate Majid Al Futtaim unit to invest $5bn in Riyadh project Dubai-based Majid Al Futtaim Properties is set to develop a SAR17.5 billion ($4.7 billion) mixed-use project in Riyadh as part of its strategy to expand its regional real estate footprint. The project will cover 850,000 sq m, Arabic news portal Al Arabia reported, quoting CEO Ahmed El Shamy. He said engineering designs are in progress, […] April 16, 2025
Retail Majid Al Futtaim reports 6% profit drop as sales slow Shopping mall owner Majid Al Futtaim has reported a drop in profit for 2024, attributing the decline to lower retail revenue, a higher tax burden and currency devaluation in some of its international markets. Total revenue fell 2 percent to AED33.9 billion ($9.2 billion) and profit dropped 6 percent to AED2.5 billion in 2024, MAF […] March 24, 2025
Opinion Trade UAE-Kenya trade deal paves way for investment boost The Cepa will boost agricultural exports and drive infrastructure spending February 25, 2025
Economy Slow restart predicted for GCC aid to Lebanon A resumption of badly needed GCC financial aid to Lebanon may take time, even though most Gulf countries have given their blessing to the new Lebanese president Joseph Aoun, according to observers. The six nations of the Gulf Cooperation Council were previously among the biggest aid donors and investors in Lebanon, before they cut assistance as […] January 14, 2025
Retail Dubai’s Majid Al Futtaim closes Carrefour in Oman Dubai-based retail conglomerate Majid Al Futtaim has launched its new grocery retail brand HyperMax in Oman, according to reports, after closing all of its Carrefour stores in the sultanate. It follows a similar move in Jordan in November where its Carrefour franchise brand ceased operations and 34 HyperMax locations were opened across the country. Carrefour […] January 8, 2025
Retail MAF Lifestyle awaits ‘stability’ before entering Egypt The lifestyle arm of the UAE conglomerate Majid Al Futtaim is looking for opportunities to expand into Egypt. However, there must be “stability” in the country before any move is made, MAF Lifestyle’s CEO, Fahed Ghanim, has told AGBI. Majid Al Futtaim as a group already runs operations in Egypt, including the Mall of Egypt […] December 30, 2024
Video length: 04:53 Analysis Retail Rise in retail M&A predicted as Gulf stores struggle An increase in mergers and acquisitions in the GCC’s retail sector has been predicted for this year, as operators try to cope with an increasingly uncertain economic environment. Six retail M&A deals have taken place since the beginning of 2023, all involving intra-regional players. Thirteen retail M&A deals were concluded in 2022, of which five […] September 30, 2024
Retail Carrefour and Dubai’s Apparel Group plan India expansion Dubai’s Apparel Group has teamed up with Carrefour to take the French supermarket retailer into the Indian market. The franchise agreement will see the first five Carrefour stores open in 2025, with a particular focus on the north of India, before expanding nationwide. “This partnership represents a significant step in strengthening our position in India,” […] September 9, 2024
Retail Majid Al Futtaim retail revenue drop drags H1 profit Increasingly frugal shoppers and currency devaluations led the retail division of UAE conglomerate Majid Al Futtaim to report an 11 percent year-on-year drop in revenue in the first half of the year, resulting in its net profit dropping 6 percent. The company’s retail operations account for around 70 percent of its total business and consist […] August 27, 2024
Video length: 07:34 Analysis Retail Retail staff shortage dents GCC shopper satisfaction Shoppers across the Gulf Cooperation Council countries are being put off their purchases by a shortage of skilled staff in the region’s retail sector, as prices of products continue to rise. Annual retail sales in the six GCC countries are expected to grow to $300 billion by 2028, a 37 percent increase from 2022. But […] August 21, 2024
