City Centre Almaza will soon open in East Cairo and is set to become. the opening of City Centre Suhar in Oman, and My City Centre Masdar in Abu Dhabi, which is the company’s first shopping mall in Abu Dhabi and the capital’s most sustainable mall. On the sustainability front, the company continues to make headway towards its net positive commitment in carbon and water by 2040. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, City Centre malls, My City Centre neighbourhood centres, and four community malls which are in joint venture with the Government of Sharjah. During this period, overall group revenue increased by 1% to AED. The Company also owns the rights to The LEGO Store and American Girl in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf. Majid Al Futtaim records Dh35b 2019 revenue. Majid Al Futtaim – Ventures, recorded an increase of 16% in both revenue and EBITDA, in the first six months of the year, with revenue standing at AED1.3 billion and EBITDA at AED137 million. The Company is the exclusive franchisee for Carrefour in a number of markets across the Middle East, Africa and Asia, operating a portfolio of more than 280 outlets. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 15 international markets, employing more than 43,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region. VOX Cinemas strengthened its market share in Saudi Arabia, driving forward its pioneering expansion in the Kingdom with. Majid Al Futtaim is one of the leading drivers of economic growth and impact in the Middle East and North Africa and is a leading foreign direct investor and a catalyst for the region’s economy. While revenue was driven by new store openings in Egypt, in particular, EBITDA decreased by 1% to AED603 million compared to the same period in 2018. The company continued to maintain a strong balance sheet with total assets valued at AED 60.4 billion and a net debt of around AED 12.6 billion. Majid Al Futtaim has announced its preliminary and unaudited operational and financial Continue Reading Majid Al Futtaim H1 revenue edges down to $4.7bn. Revenues at Majid Al Futtaim – Ventures reached $762.3m (AED2.8bn) in 2019, with an increase of 17%. The Company is parent to the consumer finance company 'Najm', and a Fashion and Home retail business representing international brands such as Abercrombie & Fitch, AllSaints, lululemon athletica, Crate & Barrel and Maisons du Monde. In line with the newly established Green Finance Framework, the issuance will support the company’s commitment to develop sustainable assets and practices. During H1 2019, Majid Al Futtaim continued the expansion of its core businesses across the region with the addition of 19 new Carrefour stores, two new shopping malls, and 65 new VOX Cinemas screens. Of the 600 screens committed to Saudi Arabia by 2023, Majid Al Futtaim has already opened 53. The company continues to make progress with its development projects and will be bringing three key shopping malls to market in Oman, UAE and Egypt this year, with the launch of City Centre Suhar, My City Centre Masdar and City Centre Almaza, respectively. He is the owner and president of Majid Al Futtaim Group, which he founded in 1992 after splitting the Al Futtaim empire with his cousin. In January 2019 Majid Al Futtaim Ventures opened its first theatre in Jeddah and second in the Kingdom, with plans to open its third location next month in Riyadh Al Qasr Mall. Majid Al Futtaim Retail: Majid Al Futtaim Retail generated strong revenue growth and finished the year at AED 28.0 billion, an 8% increase compared to 2017, driven by the addition of new stores. The top 10 competitors average 1.6B. Majid Al Futtaim – Properties registered a decline of 3% in revenue and 1% in EBITDA in the first six months of 2019, standing at AED2.1 billion and AED1.5 billion respectively. Assist the Senior Manager Leasing in establishing Leasing Objectives. The position is mainly responsible to maximize leasing revenue for the assigned area, ensuring implementation of best practices defined by the SMBU Corporate Leasing and managing key tenant relationships. The company will also launch a lifestyle rewards programme to provide customers with the opportunity to earn and burn points across the company’s portfolio of brands and assets. The company’s shopping malls welcomed more than 100 million visitors in the first half of the year, while the total occupancy of shopping malls remained strong at 93%. Built on trade and tourism in a region reliant on oil, Dubai was hardest hit in the Gulf Arab region as both industries stumbled amid the pandemic. 20 Aug 2020 . The Carrefour brand continues to cement its position as the largest grocery retailer in the region, increasing its market share by opening 33 new Carrefour hypermarkets and supermarkets during 2018, including the brand’s seventh store in Kenya. Majid Al Futtaim's revenue is the ranked 1st among it's top 10 competitors. In total, VOX Cinemas opened 65 new screens across the region during the first half of the year. This website uses cookies to improve your experience and to personalise our content to you.By continuing to use this website you consent to the use of cookies. Carrefour enhanced its digital presence by offering an extensive range of groceries online, in addition to CarrefourNow which offers an express 1-hour delivery service. Majid Al Futtaim Ventures: Majid Al Futtaim – Ventures, recorded an increase of 16% in both revenue and EBITDA, in the first six months of the year, with revenue standing at AED1.3 billion and EBITDA at AED137 million. For more information, refer to our Privacy Policy. VOX Cinemas strengthened its market share in Saudi Arabia, driving forward its pioneering expansion in the Kingdom with the launch of 49 new screens. Overall group revenue increased by 1% to AED17.9 billion and EBITDA increased by 1%, standing at AED2.1 billion, - Increased group revenue by 1% year-on-year to AED17.9 billion- EBITDA increased by 1% to AED 2.1 billion- Maintained ‘BBB’ credit rating in latest reports from Standard & Poor’s and Fitch Ratings- Awarded ‘low risk’ Environmental, Social, and Governance (ESG) rating from Sustainalytics and ‘A’ rating from MSCI- Issued world’s first benchmark corporate Green Sukuk to fund sustainable projects across the group- Increased shopping mall assets to 25 with opening of City Centre Suhar, in Oman, and City Centre Masdar, in Abu Dhabi- Opened 19 new Carrefour stores with a strong focus on Egypt- Drove forward the pioneering expansion of VOX Cinemas in Saudi Arabia, with the launch of 49 new screens- Launched Majid Al Futtaim Retail Business School in the UAE to provide functional, commercial and on-the-job training for Carrefour employees. Company: Majid Al Futtaim. Find Out More. Carrefour also introduced a number of innovative concepts and services across its network to ensure an effortless customer journey, including Scan and Go and Valet Trolley. reiterate the company’s credit strengths, resilience of its business model, quality of assets, strong corporate governance and prudent financial management. VOX Cinemas continued its successful expansion across the region with 52 new screens added to reach 353, including in Egypt, Bahrain and Kuwait where the business strengthened its core presence. Majid Al Futtaim Ventures’ total revenue increased 13% in the first half of 2018 to reach AED 1.1 billion (1.5 billion dirham after adding joint ventures and partners). EBITDA increased by 16% to AED 1.4 billion, largely attributable to cost optimisation initiatives and higher sales in Egypt, Saudi, Kuwait and Kenya. The Majid Al Futtaim Retail Business School was also established in Dubai to provide functional, commercial and on-the-job training for employees, focusing on fresh food, non-food, services and merchandising. In its results, its Retail division was a bright spot, with Majid Al Futtaim Retail reporting a rise in revenue and EBITDA. Majid Al Futtaim, a shopping mall developer and retail and leisure pioneer in the region, has posted group revenue of AED17.3 billion ($4.7 billion) and EBITDA of AED1.6 billion for the first half of the year, representing declines of 3% and 27% respectively. Majid Al Futtaim had said in August its shopping malls business saw a drop in first-half revenue. Majid Al Futtaim – Properties registered a drop of 26 percent in revenue for H1 to AED1.5bn as a result of the closure of shopping malls, alongside a decision from the company to forego rents during the periods of closure. New Flagship Community in Dubai. The hotels side of the business also took a hit as a result of the closures and reduced demand due to travel restrictions, with occupancy down 41 percent. In April 2018, VOX Cinemas opened its first multiplex theatre in Riyadh Park shopping mall in Saudi Arabia, following the reintroduction of cinemas in the Kingdom. 59% of all ticket sales at VOX Cinemas were completed online, compared to 46% during the same period last year, while all tickets in Saudi Arabia were sold online in 2019. The corporation promises that circularity will be at the heart of its business model by 2030 but insists moves have already started. Alain Bejjani, Chief Executive Officer of Majid Al Futtaim - Holding, commented on the company’s financial results: “The strength and durability of our business has been a key factor in our financial performance for the first half of 2019, demonstrating the importance of geographic and business model diversification. The group continued to invest in its people agenda with more than 115,000 hours of training delivered to its employees at the Majid Al Futtaim Leadership Institute. Majid Al Futtaim Properties, on the other hand, registered a decline of 26 per cent in revenue and a 27 per cent slide in Ebitda in the first six months of 2020, to Dh1.5bn and Dh1.1bn, respectively, the company said. © 2021 Majid Al Futtaim. Net borrowings stand at around AED12.8 billion. Of the 600 screens committed to Saudi Arabia by 2023, Majid Al Futtaim has already opened 53. The company’s digital transformation saw greater online penetration through its Carrefour and VOX Cinemas brands during the first half of the year. Majid Al Futtaim – Ventures recorded an 17% increase in revenue during 2019, rising to AED2.8 billion. Published: February 24, 2020 10:25 Staff Report. The total number of screens under the VOX Cinemas-brand increased to 499 across the region. VOX Cinemas, in its 20th year, increased its total number of screens to 499 across the region. Majid Al Futtaim – Retail: Majid Al Futtaim – Retail generated strong revenue growth and concluded the first six months of the year at AED14.6 billion. It owned and operated twelve hotels as of 2015. These positive ratings helped in creating widespread interest from investors when Majid Al Futtaim issued the world’s first benchmark corporate Green Sukuk. In fact, employees enrolled at Majid Al Futtaim’s School of Analytics and Technology, launched in 2017, have completed 33,000 learning hours, as part of the transformation process. challenging market conditions and more cost-conscious consumer behaviour across the region. For more information, refer to our Privacy Policy. EBITDA increased by 1%, standing at AED2.1 billion, while the group’s increased focus on working capital management and operational excellence resulted in operating cashflow amounting to 115% of EBITDA. 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. EBITDA increased by 16% to AED 1.4 billion, largely attributable to cost optimisation initiatives and higher sales in Egypt, Saudi, Kuwait and Kenya. Dubai-based retail giant Majid Al Futtaim on Wednesday said group revenue grew by 8 percent reaching AED34.6 billion ($9.42 billion) in 2018 compared to the previous year. Want to be the first to hear about career opportunities at our pioneering company? The ratings. The company improved its liquidity and maturity profile by refinancing USD1.6 billion of medium-term maturities while adding an additional USD900 million via syndicated facilities from regional and international banks. In its efforts to meet the evolving needs and demands of customers, while mitigating risk and ensuring sustainable growth, the company continues to diversify its business model and prioritise initiatives that support its long term strategic direction. During this period, overall group revenue increased by 1% to AED17.9 billion, despite challenging market conditions and more cost-conscious consumer behaviour across the region. Majid Al Futtaim sees stark differences during first half. The company celebrated the opening of two new shopping malls in the UAE and Oman, grew its hotel portfolio to 13 assets and added 33 grocery retail stores, growing its portfolio to 264. The company remains fully committed to the markets in which it operates whist striving to bring the right product to market at the right time to deliver maximum value for customers and tenants. Majid Al Futtaim Retail: Majid Al Futtaim Retail generated strong revenue growth and finished the year at AED 28.0 billion, an 8% increase compared to 2017, driven by the addition of new stores. The shopping mall portfolio grew to 25 destinations, with the opening of City Centre Suhar in Oman, and My City Centre Masdar in Abu Dhabi, which is the company’s first shopping mall in Abu Dhabi and the capital’s most sustainable mall. Majid Al Futtaim’s investments in sustainable experiences and initiatives continued to grow in 2018 with the recognition of the ‘Green Star’ Rating by Global Real Estate Sustainability Benchmarks, GRESB, for the fifth consecutive year as standards and measures are put in place across the business, resulting in a score of 84%, outperforming the global benchmark average by 7% and the GRESB average by 17%, the company is ranked 6th best performing non-listed company in the retail sector across Asia. Majid Al Futtaim – Retail: Despite a reduction in discretionary spend and basket size, Majid Al Futtaim – Retail recorded flat revenue growth, standing at AED14.6 billion in the first six months of the year. The organisation entered into several strategic partnerships and an acquisition, including BEAM, Wadi and others, which complement the business offering and add a digital dimension to the portfolio. UAE-headquartered retail developer and business conglomerate Majid Al Futtaim Group has reported a 3% year-on-year decline in revenues to $4.7bn (AED17.3bn) in H1 2020 and a 27% drop in EBITDA to $435.5m (AED1.6bn), compared to the first six months of 2019, due … Integrated lifestyle giant Majid Al Futtaim, owner of brands such as VOX Cinemas and Mall of the Emirates announces its green strategy, a commitment to sustainable business and a circular economy . Majid Al Futtaim today released its preliminary and unaudited operational and financial results for 2018. The company’s shopping malls welcomed more than 100 million visitors in the first half of the year, while the total occupancy of shopping malls remained strong at 93%. Majid Al Futtaim hotels experienced a decline in revenue per available room (RevPAR) due to current market conditions and reported average occupancy of 75%. Revenue EBITDA Majid Al Futtaim Holding LLC Consolidated Financials (USDmn) MAJID AL FUTTAIM HOLDING (Rated BBB/BBB) MAJID AL FUTTAIM PROPERTIES MAJID AL FUTTAIM RETAIL VENTURES Shopping Malls Hotels Communities Project Management Mr. Majid Al Futtaim (Founder) Mr. Tariq Al Futtaim MAJID AL FUTTAIM CAPITAL LLC Carrefour Cinemas L&E Finance Fashion Gourmet Gulf (JV) … Company: Majid Al Futtaim. Group revenue increased by 1% to AED17.9 bn, Dubai, United Arab Emirates, 29 August 2019, : Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, today announced its audit reviewed operational and financial results for the first six months of the year. Majid Al Futtaim owns and operates 25 shopping malls, 13 hotels and four mixed-use communities, with further developments underway in the region. Majid Al Futtaim Ventures: Majid Al Futtaim Ventures’ revenue increased by 15% in 2018 to AED 2.4 billion (AED 3.2 billion including joint ventures and associates). Sheikh Mohammed bin Rashid Al Maktoum mediated a settlement between Abdulla Al Futtaim and his rival, cousin Majid Al Futtaim, in 2000 which split the assets, liabilities and operations of the then-larger Al Futtaim Group. The group’s assets increased 7% to approximately AED64 billion, on account of the introduction of IFRS16. Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia. The company remains fully committed to the markets in which it operates whist striving to bring the right product to market at the right time to deliver maximum value for customers and tenants. In total, VOX Cinemas opened 65 new screens across the region during the first half of the year. Majid Al Futtaim has 42,000 employees across 2 locations. The company’s credit rating has been maintained at ’BBB’ with a stable outlook by both Standard & Poor’s and Fitch Ratings in their most recent reports. Majid Al Futtaim had said in August its shopping malls business saw a drop in first-half revenue. Revenue increased by 4% and totalled AED15.1 billion, while its EBITDA grew by 18% to AED709 million. In 2018, Majid Al Futtaim Retail made significant strides on its digital agenda. The diverse portfolio of cinemas, leisure and entertainment, fashion, consumer finance, food and beverage and facility and energy management reported an increase in EBITDA of 24% to AED 319 million, driven by cinemas and growth from new sites. During 2018, Majid Al Futtaim continued to pursue investment opportunities to enhance its digital capabilities and deliver a seamless omni-channel customer experience, while expanding its physical footprint. EBITDA increased by 1%, standing at AED2.1 billion, while the group’s increased focus on working capital management and operational excellence resulted in operating cashflow amounting to 115% of EBITDA. Majid Al Futtaim also opened five physical stores and three new fulfilment centres during the first six months of the year. Majid Al Futtaim H1 revenue edges down to $4.7bn. See insights on Majid Al Futtaim including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Despite a reduction in discretionary spend and basket size, Majid Al Futtaim – Retail recorded flat revenue growth, standing at AED14.6 billion in the first six months of the year. Majid Al Futtaim Properties celebrated the opening of My City Centre Al Dhait in Ras Al Khaimah, UAE, its first investment into the Emirate’s fast-growing community, and My City Centre Sur, Majid Al Futtaim’s first community mall in Oman. The shopping mall portfolio grew to 25 destinations, with. Majid Al Futtaim deploys capital in a prudent and measured fashion to support the sustainable growth of the organisation, with a focus on geographic diversification in its core businesses. Meanwhile, EBITDA spiked by 30% to $113.3m (AED416m) that was driven by growth across Saudi Arabia, Kuwait, and Egypt. The company’s transformation journey continued in 2018 with the enhancement of its’ integrated customer experience offerings, its data and analytics capabilities and its upskilling and reskilling plans, using technology as an enabler to accelerate future-proofing of the business. In addition to new store openings, Carrefour also launched ‘Carrefour Business’, the company’s business-to-business offering to hotels, restaurants and the catering industry. Majid Al Futtaim Ventures: Majid Al Futtaim – Ventures, recorded an increase of 16% in both revenue and EBITDA, in the first six months of the year, with revenue standing at AED1.3 billion and EBITDA at AED137 million. Majid Al Futtaim, a leading shopping mall, retail and leisure group, reported on Wednesday a seven per cent year-on-year jump in first-half revenue to Dh13.7 billion. During the second half of 2019, Majid Al Futtaim is set to continue the expansion of its core businesses, while delivering new experiences for customers across the region. Majid Al Futtaim – Retail will continue to open new stores in existing markets, including the addition of 12 new Carrefour stores in Egypt by the end of 2019. This website uses cookies to improve your experience and to personalise our content to you.By continuing to use this website you consent to the use of cookies. Al-Futtaim Group employs over 44,000 people and operates eight divisions comprising automotive, electronics, insurance, services, real estate, retail, industries, and overseas. The Carrefour brand strengthened its footprint with the opening of 7 hypermarkets and 12 supermarkets across the region. Majid Al Futtaim founded retailing and entertainment giant Majid Al Futtaim Holding, known as MAF, in 1992. Screens and 36 Magic Planet family entertainment centres across the region, 13 hotels and mixed-use. 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