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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

In 2023 the Dubai Chamber identified a lack of succession planning as a pressing threat facing family-owned enterprises

UAE entrepreneurs lack succession plans, warns HSBC

Almost half of entrepreneurs in the UAE have no formal succession strategy in place to protect their business or family wealth, according to a report from HSBC. This failure to prepare points to a structural risk in one of the country’s most vital economic segments. While 98 percent of UAE respondents are optimistic about their […]

The $3.5 billion development Al Mouj Muscat will grow significantly after securing $160 million for new units, marina facilities and retail spaces

Omani development secures $160m loan for expansion

Al Mouj Muscat, an Omani waterfront community development part owned by the government and Dubai’s Majid Al Futtaim, has finalised a $160 million loan to fund its expansion plans. “The loan will finance our expansion plans to expand our properties to 10,000 units and enlarge our marina and shopping complex,” Saleh Al Siyabi, Al Mouj […]

Majid Al Futtaim controls more than $19 billion in assets across 16 countries, MAF alone controls more than $19 billion in assets across 16 countries, including the Mall of the Emirates in Dubai

Majid Al Futtaim IPO could ease succession strains

Taking Majid Al Futtaim Holding public could provide a way to resolve the succession challenges facing the Dubai-based family conglomerate, but also risks fracturing the tight-knit structure that has long defined one of the Gulf’s most prominent family businesses. “The best way to solve family disputes is [to] list all the shares,” says Obediah Ayton, […]

People shop ahead of Ramadan in Dubai's Mall of the Emirates, just one of the retail centres across the Mena region owned by Majid Al Futtaim

Dubai takes control of Majid Al Futtaim amid succession dispute

The Government of Dubai has stepped in to take control of Majid Al Futtaim (MAF) Holding, a pillar of Dubai’s consumer economy.  A new board has been appointed to lead the group in an emirate-backed effort to resolve a long-running family succession battle. Founded in 1992, MAF is one of the largest closely held companies […]

Emarat petrol station in Dubai City. Emarat is teaming up with Crypto.com to offer cryptocurrency payment options at their service stations

Emarat customers can soon use crypto to pay for gas

Customers at some of Emarat’s service stations across the UAE will soon have the option to pay for their gas and snacks in cryptocurrencies. Emarat has partnered with UAE crypto trading platform Crypto.com to allow merchants to use cryptocurrencies at their checkouts, the company announced on LinkedIn this week. Initially, 10 service stations will be […]

The Majid Al Futtaim Properties mixed-use project in Riyadh will cover ​​850,000 sq m

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, […]

Profit is down at Majid Al Futtaim, which runs malls including the City Centre Bahrain

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 […]

Lebanon GCC aid

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 […]

In August last year, Majid Al Futtaim operated 467 Carrefour stores across 14 countries

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 […]