April 20, 2018 3:34 AM ET

Real Estate Management and Development

Company Overview of Majid Al Futtaim Properties LLC

Company Overview

Majid Al Futtaim Properties LLC, together with its subsidiaries, operates as a diversified real estate and property services company. It operates through four segments: Shopping Malls Business Unit, Hotels Business Unit, Communities Business Unit, and Project Management Business Unit. The company develops and operates a range of community and regional malls; owns and operates hotel properties, and offers hospitality services; and creates, develops, and manages residential, commercial, retail, leisure, and entertainment properties. It operates in the United Arab Emirates, Oman, Bahrain, Egypt, and Lebanon. The company was incorporated in 1994 and is based in Dubai, the United Arab Emirates. M...

P.O. Box 60811

Dubai,  

United Arab Emirates

Founded in 1994

Key Executives for Majid Al Futtaim Properties LLC

Chief Executive Officer and Executive Director
Chief Financial Officer
Age: 46
Chief Executive Officer of Shopping Malls Business Unit
Chief Executive Officer of Majid Al Futtaim Fashion LLC
Chief Executive Officer of Communities
Compensation as of Fiscal Year 2017.

Majid Al Futtaim Properties LLC Key Developments

Majid Al Futtaim Properties LLC Reports Unaudited Consolidated Earnings Results for the Full Year Ended December 31, 2017

Majid Al Futtaim Properties LLC reported unaudited consolidated earnings results for the full year ended December 31, 2017. For the year, the company’s revenue increased by AED 115 million from AED 4,491 million for the year ended December 31, 2016 to AED 4,606 million for the year ended December 31, 2017. The primary increase was in Mall of Emirates by AED 87 million attributable to increase in the base rents by AED 73 million. Mall of Egypt opening in first quarter of 2017 resulted in additional revenue of AED 68 million being recognized during the year. Profit before net valuation gain on land and buildings and tax was AED 1,641 million compared to AED 1,955 million a year ago. Profit before tax was AED 2,231 million compared to AED 2,347 million a year ago. Profit attributable to owners of the company was AED 2,185 million compared to AED 2,342 million a year ago. Net cash generated from operating activities was AED 3,031 million compared to AED 2,546 million a year ago. Additions to property, plant and equipment were AED 407 million compared to AED 330 million a year ago.

Majid Al Futtaim Properties LLC Appoints John Sullivan as Non-Executive Director

The Board of Majid Al Futtaim Properties LLC announced the appointment of Mr. John Sullivan as a non-executive director of the Board effective November 1, 2017.

Majid Al Futtaim Properties and Sharjah Asset Management Holding Joint Venture Unveils Second Phase of Mixed-Use Project in UAE

Sharjah Holding, a joint venture (JV) of Majid Al Futtaim Properties and Sharjah Asset Management Holding, has unveiled the second phase of Al Lilac neighbourhood at Al Zahia, a mixed-use community in the UAE. Al Lilac, which was launched earlier this year, is the third neighbourhood in Al Zahia. The new housing project features three-bedroom townhouses, four and five-bedroom villas as well as the recently unveiled three-bedroom courtyard villas.Under the second phase, the development will include 61 residential units of luxury four and five-bedroom villas.

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