Majid Al Futtaim Group


Majid Al Futtaim is an Emirati holding company based in Dubai, that as of 2015 owned and operated shopping malls, retail, and leisure establishments in the Middle East and North Africa, with operations in 13 countries. The group was established by Majid Al Futtaim in 1992. Majid Al Futtaim manages three major operating subsidiaries: Majid Al Futtaim Properties, Majid Al Futtaim Retail, and Majid Al Futtaim Ventures. As of 2015 the holding company worked in 13 countries: UAE, Lebanon, Egypt, Saudi Arabia, Oman, Bahrain, Kuwait, Qatar, Jordan, Pakistan, Iraq, Armenia, and Georgia.
In 2016, the group has $10.6 billion in revenues and $760 million in profits.

History

In December 2018, group founder, Majid Al Futtaim is conferred the Royal Commendation Order by Sultan of Oman Qaboos bin Said al Said.

Majid Al Futtaim Properties

Majid Al Futtaim Properties develops, owns and manages shopping malls and hotels throughout the MENA region. The hotels business unit focuses on the development and asset management of hotels connected to or close to the company's shopping malls and within its master-planned communities. It owned and operated twelve hotels as of 2015. In 2017, Majid Al Futtaim Properties reported a profit of 2.19 billion dirhams, down 7% on 2016.

Shopping malls

There are now seven City Centre malls in the UAE, and thirteen in the wider Middle East region: Bahrain, Oman, Mirdif and Sohar.
MAF aims at creating fully integrated communities which integrate Majid Al Futtaim’s residential, commercial, retail, leisure and entertainment facilities.
The firm establishes and manages (hypermarkets and supermarkets, fashion and speciality retail stores.

Hypermarkets and supermarkets

In 1995 the company partnered with the French multinational retailer Carrefour in order to introduce the brand to the MENA region and Central Asia, and opened the region's first hypermarket at City Centre Deira, albeit it initially was a Continente-branded store before it converted to Carrefour four years later. This exclusive franchise partnership was extended to 2025. In June 2017, MAF announced it bought 26 Géant hypermarkets in the UAE, Bahrain and Kuwait. MAF acquired the Géant franchise from BMA International. In February 2018, Egyptians Ministry of Investment and International Cooperation and the National Service Project of the Armed Forces signed a cooperation protocol with Majid Al-Futtaim in the aim to establish 100 Carrefour retail stores in different governorates of Egypt. In December 2018, Majid Al Futtaim announced their plans to rebrand of Hyperstar to Carrefour across Pakistan. A new Carrefour is expected to open in the Mall of Defence in Lahore in early 2019.
The company introduced the world's first sail-through supermarket "Bites and More by the Shore", in December 2018. The supermarket operates off the coast of Dubai in order to cater to customers on yachts, boats and jet skis. In January 2019, Majid Al Futtaim Retail signs a contract with Nshama, a UAE-based developer of master-planned communities, to open a new 8,000 sq ft Carrefour Hypermarket in Town Square Dubai.
In January 2019, speaking at the annual World Economic Forum in Davos, Alain Bejjani announced the group’s intention to introduce a Saudi-only workforce in the Carrefour supermarkets across the country. The same year, MAF launched its Retail Business School, which focuses on programmes for employees running its Carrefour operations. Majid al Futtaim currently operates 90 hypermarkets and 120 supermarkets in 15 different countries.
In the first half of 2018, Majid Al Futtaim Retail launched its largest regional distribution center in Dubai’s National Industries Park. At an investment of over US$80m, the facility can handle up to 100,000 orders per day.
In 2018, Carrefour is a top 10 popular brand in the UAE according to YouGov.
The company has invested heavily in data analysis and digital capabilities as well as relevant companies and start-ups that serve multiples channes. In December 2017, it launched a School of Analytics and Technology, along with A², its Advanced Analytics Centre of Excellence. The same year,itcompany signed a Memorandum of Understanding with Smart Dubai to help improve the emirate’s data analytics capabilities.

Fashion

Majid Al Futtaim operates more than 120 stores across the MENA region, with exclusive licensing rights for fashion brands such as Abercrombie & Fitch, AllSaints, Lululemon Athletica. In 2017, Majid Al Futtaim moved into the Home furnishing market with a franchise deal with homeware brand Maisons du Monde.

Partnerships

Majid Al Futtaim Ventures is a group of companies that offer amenities such as cinemas, leisure and entertainment, financial services, fashion and healthcare and JVs in facility management and food and beverages. Majid Al Futtaim Ventures is a unit of Majid Al Futtaim Group.

Leisure & Entertainment

Majid Al Futtaim Leisure and Entertainment operates Ski Dubai, an indoor ski resort with 22,500 square meters of indoor ski area at the Mall of the Emirates, as well as 18 Magic Planet family entertainment centres. In addition, Magic Planet operates a facility within City Centre Mirdif, a temperature controlled indoor and outdoor water park, and the first Lego store in the Middle East in Abu Dhabi.
The firm has 318 cinema screens in the UAE, Lebanon, Qatar, Bahrain, Kuwait, Egypt, Saudi Arabia, and Oman under the VOX Cinemas brand. Its cinemas in the Mall of the Emirates are considered as the flagship venture with 24 screens – including an IMAX with Laser, VOX 4DX auditorium, a luxury cinema experience called “ThEATre by Rhodes” and VOX Kids. The 100,000sq ft venue became the largest complex in the Middle East after its re-launch in September 28, 2015.
In May 2018, VOX Cinemas opened the first four-screen multiplex in Saudi Arabia, at the company’s new entertainment complex in Riyadh Park, two weeks after the first public cinema screening in Saudi Arabia for 35 years.
At the end of 2019, VOX Cinemas, part of the Majid Al Futtaim Entertainment group, expects to open a multi-screen venue at the Wafi Mall in Dubai. In January 2019, VOX cinemas opens its doors in Jeddah at the Red Sea Mall.
After decades of cinema ban, Cameron Mitchell, CEO of Majid Al Futtaim Cinemas, said that MAF is contributing to the Saudi Vision 2030, and the group announces in January 2019 VOX's rollout of 300 new screens in the Kingdom within 18 months as part of a $4 billion investment plan.

Restaurants and Cafés

In 2013, the group established a joint venture agreement with Gourmet Gulf, a food and beverage retail company. Majid Al Futtaim now co-owns the development and franchise rights to food brands such as Dalloyau, California Pizza Kitchen, YO! Sushi, Texas de Brazil, in more than 20 food and beverage outlets in the region.

Financial Services

In 2018, the group acquired Beam Portal, a Dubai-based mobile payments provider.

Energy

Previously "MAF Dalkia", Enova brand is a joint venture company.