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.

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Majid Al Futtaim Latest News

Saudi Arabia Lifts Ban On Movie Theatres At Last

UAE-based Majid Al Futtaim also welcomed the latest announcement. In a statement it said it could mean the creation of thousands of jobs. It is lining up its Vox Cinemas brand to enter the market in the months ahead. The decision to allow cinemas to reopen ...
Posted: December 11, 2017, 3:33 am

Smart Dubai and Majid Al Futtaim Sign MOU

Smart Dubai and Majid Al Futtaim today signed a Memorandum of Understanding (MOU) to collaborate in areas that will help to enhance the Emirate’s data and analytics capabilities. The agreement has been developed in line with the government’s vision to ...
Posted: December 10, 2017, 10:52 pm

Saudi Arabia lifts cinema ban, directors and movie chains rejoice

Dubai-based mall operator Majid Al Futtaim, which owns the VOX Cinemas chain, said it wanted to open the first movie theater there. ”We are very happy about this announcement, as you can imagine, we have been waiting for it for quite some time,” said ...
Posted: December 11, 2017, 10:21 am
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