July 27, 2016 4:11 AM ET

Food and Staples Retailing

Company Overview of Majid Al Futtaim Holding LLC

Company Overview

Majid Al Futtaim Holding LLC establishes, invests in, and manages commercial projects. The company operates through Properties, Retail, and Ventures segments. The Properties segment is invests in, operates, and manages commercial projects, including shopping malls, hotels, residential projects, leisure, and entertainment facilities. The Retail segment establishes and manages hypermarkets and supermarket under the franchise agreement with Carrefour Partenariat International. The Ventures segment establishes, invests in, and manages commercial projects; and establishes and manages retail fashion stores. It also provides leisure, entertainment, credit cards, food and beverage, and healthcare se...

Tower 1

10th Floor

City Centre Deira Complex

Dubai,  

United Arab Emirates

Founded in 1992

30,371 Employees

Phone:

971 4 294 9999

Key Executives for Majid Al Futtaim Holding LLC

Chief Executive Officer and Director
Founder and President
Chief Financial Officer
Chief Executive Officer at Majid Al Futtaim Retail LLC
Deputy Chief Executive Officer
Age: 69
Compensation as of Fiscal Year 2016.

Majid Al Futtaim Holding LLC Key Developments

Majid Al Futtaim Holding LLC Announces Resignation of Viswanathan Shankar as Director

Mr. Viswanathan Shankar stepped down as a Director of Majid Al Futtaim Holding LLC effective close of business on 30th June 2016.

Majid Al Futtaim to Open Six New Hotels in UAE

Majid Al Futtaim has unveiled plans to expand its portfolio of hotels with six new developments in the UAE under a strategic development plan that will see the company increase its total investment in the UAE by AED 30 billion by 2026. The new hotels will come up at the Mall of the Emirates, City Centre Mirdif, and its planned mixed-use community in Dubai. This will bring the company’s total number of keys operated to 4,800. The new strategic plan will increase the company’s total investment in the country to AED 48 billion. As part of its new investment plan for the UAE, Majid Al Futtaim will develop 10 new shopping malls under its City Centre brand. This will include a new landmark regional mall in Dubai, as part of a 740,000 sq m mixed-use residential, retail, hospitality, commercial and leisure community. It will also include the company’s first super-regional mall in Sharjah, which will be adjacent to its existing Al Zahia master-planned community. In addition, Majid Al Futtaim will take its integrated retail-tainment model to Abu Dhabi for the first time, starting with the development of a community mall in Masdar City. The company’s new malls will further strengthen its position as the gateway of choice for some of the world’s most renowned brands to enter or expand in the UAE. In line with its strategy to keep assets fresh, relevant and best in class, Majid Al Futtaim will also undertake six expansions to its existing malls, including major extensions to City Centre Ajman and City Centre Me’aisem, which will turn them into regional malls. Combining all new developments and expansions, the company will increase the total retail space in its mall network in the UAE from 725,000 sq m to 1,500,000 sq m. The new investment plan will also see Majid Al Futtaim introduce new pioneering cinema experiences, family entertainment centres, advanced healthcare clinics, sought after fashion brands and innovative food and beverage concepts across the UAE. In addition, the company will expand its consumer finance business and introduce 10 new Carrefour hypermarkets and 30 new Carrefour supermarkets, bringing the convenience of high quality produce, wide variety and low prices to more people across the emirates. The new plan will see the company’s presence in the UAE reach two master-planned communities, 19 shopping malls, 16 hotels, 101 Carrefour hypermarkets and supermarkets, 28 cinemas, 38 leisure and entertainment outlets, 86 fashion stores and 26 healthcare clinics upon completion.

Majid Al Futtaim Forms Joint Venture with Monsoon Accessorize

Majid Al Futtaim Fashion has formed a joint venture with Monsoon Accessorize Limited.

Similar Private Companies By Industry

Company Name Region
Abcon International LLC Middle East/Africa
Abu Dhabi Co-Operative Society Middle East/Africa
Abu Dhabi Refreshments Company Limited Middle East/Africa
Al Seer Group, LLC Middle East/Africa
Alokozay International Ltd. Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
NYC2012, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Majid Al Futtaim Holding LLC, please visit www.majidalfuttaim.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.