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Majid Al Futtaim (MAF)
History and Background
- Founded: 1992
- Founder: Majid Al Futtaim, a prominent Emirati businessman
- Headquarters: Dubai, United Arab Emirates
- Type: Private Conglomerate
- Industry Focus: Real estate, retail, leisure, hospitality
Overview
- Majid Al Futtaim (MAF) is one of the Middle East’s most diversified and successful business groups, best known for pioneering modern shopping malls and mixed-use developments in the region. It has played a central role in reshaping the retail and leisure landscape in the UAE and beyond.
- The company operates in 13 countries and employs over 40,000 people. MAF is particularly noted for its strong commitment to sustainability, innovation, and customer experience.
Key Milestones in MAF’s History
- 1992: Majid Al Futtaim establishes the company to develop integrated lifestyle destinations.
- 1995: Launches the City Centre brand with Deira City Centre, one of the region’s first large-scale shopping malls.
- 2005: Opens Mall of the Emirates, a globally recognized retail and entertainment destination with the first indoor ski resort in the Middle East (Ski Dubai).
- 2006–2010: Begins expansion across the GCC, Egypt, Lebanon, and North Africa. Develops City Centre Malls, Carrefour Hypermarkets (as franchisee), and VOX Cinemas.
- 2013: Restructures to create specialized subsidiaries: Properties, Retail, and Ventures.
- 2016–2020: Pushes into sustainability with the goal of becoming Net Positive by 2040 in energy and water consumption.
- 2021: Founder Majid Al Futtaim passes away; succession and corporate continuity managed by leadership and board.
- 2023–2025: Invests billions in expanding Mall of the Emirates, launching new residential communities, and enhancing digital retail platforms.
Core Business Divisions
- Majid Al Futtaim Properties – Develops and manages malls, hotels, and mixed-use communities.
- Majid Al Futtaim Retail – Operates Carrefour in the MENA region.
- Majid Al Futtaim Ventures – Manages VOX Cinemas, Ski Dubai, Magic Planet, and other entertainment assets.
Flagship Developments
- Mall of the Emirates (Dubai) – A luxury shopping and entertainment destination.
- Tilal Al Ghaf (Dubai) – A premium mixed-use residential community surrounding a crystal lagoon.
- City Centre Malls – Including City Centre Deira, Mirdif, and Ajman.
- Al Zahia (Sharjah) – A leading residential community developed in partnership with Sharjah Holding.
Upcoming & Recent Projects
- AED 5 billion expansion of Mall of the Emirates – Introducing new luxury retail, hospitality, and lifestyle components.
- Expansion of Tilal Al Ghaf – Adding new clusters, schools, and hospitality facilities.
- Ghaf woods residences by Majid al Futtaim in Dubai land also
Legacy & Strategic Impact
- Majid Al Futtaim has been a trailblazer in retail-led urban development, known for fusing lifestyle, leisure, and sustainability. It has shaped the UAE’s consumer culture and real estate development patterns while establishing a global retail and entertainment footprint.