Company Insights Majid Al Futtaim Group Retail Majid Al Futtaim Group News EXCLUSIVE Logistics Dubai company’s EVs aim to deliver ‘last mile’ in 100 cities Dubai company One Moto, which aims to decarbonise “last mile” deliveries using electric vehicles, has said it plans to serve 100 cities by 2028. After launching the company in the UAE, serial entrepreneur Adam Ridgway has gained a foothold in the UK, Bahrain, Jordan, Sri Lanka, Chile, Iraq, Nepal and Ethiopia. It is in talks […] October 3, 2023 Retail GCC retail industry concern as shoppers move online The Gulf’s retail industry remains an area of concern amid ongoing changes in consumer spending habits. The Q2 2023 edition of the Middle East Turnaround and Restructuring Survey, published by professional services firm Alvarez & Marsal, found more than two-thirds of respondents anticipated continued pressures in the sector as consumers increasingly turn to digital shopping […] September 6, 2023 Leisure & Hospitality Majid Al Futtaim’s profit surges 74% as GCC flourishes UAE retail conglomerate Majid Al Futtaim Holding reported a 74 percent year-on-year rise in net profit to AED1.7 billion ($462.84 million) in the first half of 2023, driven by positive macroeconomic conditions across the Gulf countries. Revenues rose five percent year on year to AED18.9 billion, fueled by a 37 percent increase in income from […] August 21, 2023 Construction Aldar unveils $136m plan to revamp UAE shopping malls Aldar Properties announced an AED500 million ($136 million) investment plan on Tuesday to redevelop two of its key retail portfolio assets in the UAE – Al Jimi Mall in Al Ain and Al Hamra Mall in Ras Al Khaimah. The investment takes Aldar’s committed spend on redeveloping key retail assets to AED1 billion, the Abu […] July 25, 2023 Video length: 04:29 Exclusive Employment Sharp rise in family disputes, says Emirati lawyer The UAE has seen a marked increase in disputes within family-run businesses which is likely to continue, according to a leading Emirati lawyer. Habib Al Mulla has been practising in the UAE for four decades and had until five years ago only seen one dispute case involving family members and shareholders of a company. However, […] June 8, 2023 Retail Electronics retailer eXtra pulls plug on Egypt plans United Electronics, the Saudi company behind tech retailer eXtra, has abandoned its plan to expand into Egypt as analysts predict that soaring inflation in the North African country will dampen consumer spending. The company said in a filing to the Saudi Stock Exchange on Monday that the decision followed a feasibility review, but did not […] May 1, 2023 Majid Al Futtaim announces 105 job cuts Majid Al Futtaim is cutting 105 jobs from its 46,000-strong workforce after reporting a 2% drop in profit for 2022. The cuts will be at the holding level and in divisions including its leisure and entertainment operations, according to a report from Reuters. A statement from the retail and property conglomerate on Thursday said the […] March 16, 2023 Banking and Finance Burger Index raises $1.3m as Gulf F&B sector is hungry for data Food and beverage data analytics platform Burger Index has raised $1.3 million to cater to rapidly growing demand across the GCC. The Madrid-based firm’s recent funding round was led by Flat6Labs, the Cairo-based seed and early-stage venture capital firm. Launched in January 2022, Burger Index provides market, competition and consumer intelligence in real time to […] March 16, 2023 Retail MAF unveils plan to open more malls in Egypt, Saudi and UAE Retail and property conglomerate Majid Al Futtaim has unveiled plans to expand in the GCC and North Africa as consumer confidence rises. The Dubai-based company said it wanted “further expansion in high growth potential markets such as Saudi Arabia and Egypt, as well as in its home market, the UAE, amid a resurgence in consumer […] March 6, 2023 Logistics Brazilian cargo drone maker expands operations to Dubai Tupan, a Brazilian cargo and military drone manufacturer, is setting up operations in Dubai, in a bid to help speed up e-commerce deliveries and boost cross-border trade, the company’s CEO told AGBI. The UAE’s civil aviation authority in December published what it said were the world’s first regulations for vertiports to govern the use of […] March 2, 2023 Posts navigation Previous 1 … 3 4 5 … 7 Next
EXCLUSIVE Logistics Dubai company’s EVs aim to deliver ‘last mile’ in 100 cities Dubai company One Moto, which aims to decarbonise “last mile” deliveries using electric vehicles, has said it plans to serve 100 cities by 2028. After launching the company in the UAE, serial entrepreneur Adam Ridgway has gained a foothold in the UK, Bahrain, Jordan, Sri Lanka, Chile, Iraq, Nepal and Ethiopia. It is in talks […] October 3, 2023
Retail GCC retail industry concern as shoppers move online The Gulf’s retail industry remains an area of concern amid ongoing changes in consumer spending habits. The Q2 2023 edition of the Middle East Turnaround and Restructuring Survey, published by professional services firm Alvarez & Marsal, found more than two-thirds of respondents anticipated continued pressures in the sector as consumers increasingly turn to digital shopping […] September 6, 2023
Leisure & Hospitality Majid Al Futtaim’s profit surges 74% as GCC flourishes UAE retail conglomerate Majid Al Futtaim Holding reported a 74 percent year-on-year rise in net profit to AED1.7 billion ($462.84 million) in the first half of 2023, driven by positive macroeconomic conditions across the Gulf countries. Revenues rose five percent year on year to AED18.9 billion, fueled by a 37 percent increase in income from […] August 21, 2023
Construction Aldar unveils $136m plan to revamp UAE shopping malls Aldar Properties announced an AED500 million ($136 million) investment plan on Tuesday to redevelop two of its key retail portfolio assets in the UAE – Al Jimi Mall in Al Ain and Al Hamra Mall in Ras Al Khaimah. The investment takes Aldar’s committed spend on redeveloping key retail assets to AED1 billion, the Abu […] July 25, 2023
Video length: 04:29 Exclusive Employment Sharp rise in family disputes, says Emirati lawyer The UAE has seen a marked increase in disputes within family-run businesses which is likely to continue, according to a leading Emirati lawyer. Habib Al Mulla has been practising in the UAE for four decades and had until five years ago only seen one dispute case involving family members and shareholders of a company. However, […] June 8, 2023
Retail Electronics retailer eXtra pulls plug on Egypt plans United Electronics, the Saudi company behind tech retailer eXtra, has abandoned its plan to expand into Egypt as analysts predict that soaring inflation in the North African country will dampen consumer spending. The company said in a filing to the Saudi Stock Exchange on Monday that the decision followed a feasibility review, but did not […] May 1, 2023
Majid Al Futtaim announces 105 job cuts Majid Al Futtaim is cutting 105 jobs from its 46,000-strong workforce after reporting a 2% drop in profit for 2022. The cuts will be at the holding level and in divisions including its leisure and entertainment operations, according to a report from Reuters. A statement from the retail and property conglomerate on Thursday said the […] March 16, 2023
Banking and Finance Burger Index raises $1.3m as Gulf F&B sector is hungry for data Food and beverage data analytics platform Burger Index has raised $1.3 million to cater to rapidly growing demand across the GCC. The Madrid-based firm’s recent funding round was led by Flat6Labs, the Cairo-based seed and early-stage venture capital firm. Launched in January 2022, Burger Index provides market, competition and consumer intelligence in real time to […] March 16, 2023
Retail MAF unveils plan to open more malls in Egypt, Saudi and UAE Retail and property conglomerate Majid Al Futtaim has unveiled plans to expand in the GCC and North Africa as consumer confidence rises. The Dubai-based company said it wanted “further expansion in high growth potential markets such as Saudi Arabia and Egypt, as well as in its home market, the UAE, amid a resurgence in consumer […] March 6, 2023
Logistics Brazilian cargo drone maker expands operations to Dubai Tupan, a Brazilian cargo and military drone manufacturer, is setting up operations in Dubai, in a bid to help speed up e-commerce deliveries and boost cross-border trade, the company’s CEO told AGBI. The UAE’s civil aviation authority in December published what it said were the world’s first regulations for vertiports to govern the use of […] March 2, 2023
