October 26, 2016 6:28 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


United Arab Emirates

Founded in 1992

30,371 Employees


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 Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2016

Majid Al Futtaim Holding LLC announced unaudited consolidated earnings results for the six months ended June 30, 2016. For the period, the company reported revenue of AED 15,174,760,000 against AED 13,716,248,000 a year ago. Profit before tax was AED 1,274,638,000 against AED 1,233,552,000 a year ago. Profit attributable to owners of the company was AED 1,231,125,000 against AED 1,169,182,000 a year ago. Net cash generated from operating activities was AED 1,765,186,000 against AED 2,182,118,000 a year ago. Acquisition of property, plant and equipment, investment property and development property was AED 1,931,577,000 against AED 1,657,955,000 a year ago. Payments against intangible assets were AED 11,071,000 against AED 18,099,000 a year ago. EBITDA was AED 1,950,835,000 against AED 1,830,009,000 a year ago. Capital expenditure was AED 2,012,204,000 against AED 1,718,874,000 a year ago.

Majid Al Futtaim Opens My City Centre Al Barsha

Majid Al Futtaim officially opened its 20th mall - My City Centre Al Barsha - a neighbourhood retail destination located in Dubai Science Park and tailored to the needs of nearby residential communities including Villa Lantana. Built for an investment of AED 57 million. My City Centre Al Barsha is set to address the daily shopping and service needs of the more than 40,000 residents anticipated in the area by 2017. Having committed in June 2016 to increase its total investment in the United Arab Emirates (UAE) by AED 30 billion by 2026, taking its total investment in the country to AED 48 billion, Majid Al Futtaim plans to continue developing lsquo;right-sized; malls in key neighbourhoods to deliver accessible, convenient supermarket, lifestyle, and F B choices on the doorsteps of regional residents. The mall will be anchored by a 1,187sqm Carrefour Market ndash; taking the tally of the Carrefour Market concept to 33 in the UAE and a total of 55 Carrefour stores in the country ndash; offering a wide range of products including a diverse selection of organic and locally sourced food products. My City Centre Al Barsha's mix of retail and dining outlets has been carefully considered to benefit the largely Emirati communities in Al Barsha South as well as the diversity of residents in Villa Lantana and the Arjan mixed-use development. The new mall features City Centre Clinic, Majid Al Futtaim's third UAE wellness destination addressing the primary healthcare needs of the community; dining options such as McDonalds, Shakespeare Co, Tim Hortons and Papa Murphy's, with seating for alfresco dining, as well as lifestyle brands including Aldo Accessories, Sketchers, Arabian Oud, Inglot, Al Rifai and Jacky's.

Majid Al Futtaim Holding LLC Names Alan Keir as Non-Executive Director, Effective 1st September 2016

Majid Al Futtaim Holding LLC announced that Alan Keir will join the board as a Non-executive Director, effective 1st September 2016.

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