December 06, 2016 6:03 AM ET

Real Estate Management and Development

Company Overview of Majid Al Futtaim Properties LLC

Company Overview

Majid Al Futtaim Properties LLC develops, owns, and manages shopping malls, hotels, and mixed-use living communities (residential and commercial properties) in the Middle East and North Africa region. The company was founded in 1992 and is based in Dubai, United Arab Emirates. Majid Al Futtaim Properties LLC operates as a subsidiary of Majid Al Futtaim Holding LLC.

Majid Al Futtaim Tower 2

P.O. Box 60811


United Arab Emirates

Founded in 1992

Key Executives for Majid Al Futtaim Properties LLC

Chief Executive Officer and Executive Director
Chief Financial Officer
Age: 52
Chief Executive Officer of Shopping Malls Business Unit
Chief Executive Officer of Majid Al Futtaim Fashion LLC
Chief Executive Officer of Hotels Business Unit
Compensation as of Fiscal Year 2016.

Majid Al Futtaim Properties LLC Key Developments

Majid Al Futtaim to Invest AED 260 Million in Expansion and Enhancement of City Centre Sharjah

Majid Al Futtaim announced that as part of its recent commitment to invest a further AED 30 billion in the UAE by 2026, City Centre Sharjah, will undergo a AED 260 million redevelopment initiative set for completion in the last quarter of 2017, with hundreds of direct and indirect jobs being created. While increasing the mall's fashion and lifestyle brands by 25 new storefronts, boosting the total number of retailers to 150 and adding 13,700 sqm of retail space, City Centre Sharjah's expansion will also include a 12-screen VOX Cinemas with the latest cinematic technologies, a City Centre Clinic for the healthcare needs of the surrounding communities, and four new dining options.

Majid Al Futtaim Properties LLC Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2016

Majid Al Futtaim Properties LLC reported unaudited consolidated earnings results for the six months ended June 30, 2016. For the period, the company's revenue was AED 2,188,634,000 compared to AED 1,977,930,000 a year ago. Profit before net valuation gain on land and buildings was AUD 1,005,863,000 compared to AED 896,513,000 a year ago. Profit before tax was AUD 1,142,191,000 compared to AED 1,736,320,000 a year ago. Profit was AUD 1,126,814,000 compared to AED 1,719,336,000 a year ago. Profit attributable to owners of the company was AUD 1,118,099,000 compared to AED 1,706,675,000 a year ago. Net cash from operating activities was AUD 1,118,407,000 compared to AED 1,358,076,000 a year ago. Additions to property, plant and equipment was AUD 100,825,000 compared to AED 169,176,000 a year ago.

Majid Al Futtaim Properties LLC Reports Unaudited Earnings Results for the Six Months Ended June 30, 2016

Majid Al Futtaim Properties LLC reported unaudited earnings results for the six months ended June 30, 2016. For the period, the company reported an increase in revenue of 11% to AED 2.2 billion, while EBITDA rose by 12% to AED 1.4 billion.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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