Majid Al Futtaim  developer

Majid Al Futtaim developer

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About Majid Al Futtaim

This company launched twenty years ago and was named after its founder, Majid Al Futtaim. Now it is the biggest player on the market when it comes to commercial and retail properties, especially shopping malls. The company has expanded its reach over fifteen markets all over the world, establishing its presence in Egypt, Oman, Kuwait, Armenia, Georgia and many others.

To date, the company holds ownership over twenty one malls, twelve hotels and several mixed-use complexes. Many well-known entertainment hubs of Dubai from cinemas to ski centres are also managed by this company. Famous for its retail and leisure opportunities as well as the exceptional quality of its work, the company has gained the best (highest possible) credit rating amidst the companies of the same region.

year of entering the market
residential complexes in the portfolio

Majid Al Futtaim is a leading developer in Dubai and the wider Middle East, known for creating integrated shopping malls, retail, and leisure establishments. Below are five of the top projects by Majid Al Futtaim in Dubai, which have significantly contributed to the city's urban landscape and economy.

Mall of the Emirates

Opened in September 2005, Mall of the Emirates is one of Dubai's most famous shopping centres, featuring more than 630 retail outlets, over 100 restaurants and cafés, two hotels (Kempinski Mall of the Emirates and Sheraton Dubai Mall of the Emirates Hotel), and the indoor ski resort and snow park, Ski Dubai. It's a landmark for both shopping and entertainment in the region.

City Centre Mirdif

This shopping mall opened in 2010 and offers a mix of entertainment, leisure, and retail. It houses more than 430 stores, a unique indoor Skydiving Center — iFly Dubai, a 14-screen VOX Cinemas, and the play area Magic Planet. City Centre Mirdif is designed to cater to families and offers a more leisurely shopping experience.

City Centre Deira

Known as one of the oldest malls in Dubai, City Centre Deira has been a cornerstone of shopping in Dubai since its opening in 1995. It has undergone several expansions and renovations to stay up-to-date with consumer demands, featuring over 370 retail stores, a multiplex cinema, and numerous food and beverage outlets.

City Centre Al Zahia

Although located in Sharjah, which is adjacent to Dubai, City Centre Al Zahia is a significant project by Majid Al Futtaim, serving the residents of both emirates. Opened in March 2021, it's the largest mall in the Northern Emirates and is designed to be the ultimate destination for shopping, entertainment, and leisure, offering a unique experience to visitors with its vast retail offerings and attractions.

The Mall of the World

Announced in 2014, this ambitious project was planned to be the world's largest shopping mall, covering a total area of 8 million square feet. The project's vision includes temperature-controlled streets, a theme park, and 100 hotels and serviced apartments. However, the development has seen adjustments and phases in planning over the years, reflecting Majid Al Futtaim's adaptability to market trends and sustainability commitments.

History of Majid Al Futtaim

Majid Al Futtaim's story is one of vision, entrepreneurship, and transformation, marking a significant impact on the Middle East's retail and entertainment landscape. It began with a man, Majid Al Futtaim, who envisioned creating environments that offer an exceptional lifestyle experience beyond traditional shopping.

Early beginnings

Majid Al Futtaim, the founder, started his journey in the early 1990s. At a time when the Gulf region was primarily known for its oil-based economy, Al Futtaim saw an opportunity in diversifying into retail and entertainment, sectors that were underdeveloped in the region. With a vision to introduce the Middle East to the integrated shopping mall concept, he founded Majid Al Futtaim (MAF) in 1992 in the United Arab Emirates.

Pioneering the retail and leisure landscape

MAF's first major breakthrough came with the opening of City Centre Deira in Dubai in 1995. This wasn't just a shopping centre; it was a fully integrated mall with retail outlets, dining options, entertainment facilities, and a hotel, setting a new standard for retail and leisure in the Middle East. It was a revolutionary concept that catered to the lifestyle needs of the region's residents and visitors, providing a one-stop destination for shopping, entertainment, and leisure.

Expansion and innovation

Following the success of City Centre Deira, Majid Al Futtaim continued to innovate and expand. In 2005, the group opened Mall of the Emirates, which featured Ski Dubai, the Middle East's first indoor ski resort and snow park. This project underscored Majid Al Futtaim's commitment to bringing unprecedented lifestyle experiences to the region.

The company's growth strategy included expanding beyond the UAE, marking its presence in other Middle Eastern and North African countries with malls, retail, and leisure developments tailored to each market's needs.

Diversification and sustainability

Over the years, Majid Al Futtaim has diversified its portfolio to include not only malls but also retail (with its Carrefour franchise), leisure and entertainment (with VOX Cinemas), and real estate developments, becoming a comprehensive lifestyle company.

Sustainability became a core focus for Majid Al Futtaim, committing to becoming net positive in carbon and water by 2040. This commitment is reflected in their operations, construction projects, and initiatives to reduce environmental footprint and promote sustainable lifestyles.

Legacy and future

Majid Al Futtaim passed away in December 2021, but his legacy continues through the company's ongoing projects and initiatives. Today, Majid Al Futtaim is a leading developer and operator in the Middle East and North Africa, with a vision that extends beyond the region, influencing global standards for retail, leisure, and entertainment.

The story of Majid Al Futtaim is a testament to how visionary leadership, coupled with a commitment to innovation and sustainability, can transform industries and regions, creating lasting impacts on economies and communities.

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