Majid Al Futtaim Group

Majid Al Futtaim Group is a family-owned Emirati conglomerate headquartered in Dubai. Established in 1992 by Majid Al Futtaim, it developed from a property and asset-management business into one of the region's most prominent operators of shopping centres, retail stores, leisure attractions and hospitality assets. Its best-known property is Mall of the Emirates in Dubai, a large destination mall associated with Ski Dubai, VOX Cinemas and a broad portfolio of international retailers. The group is organized around several major activities. Majid Al Futtaim Properties develops, owns and manages shopping malls, hotels and mixed-use communities. Its portfolio includes Mall of the Emirates, Mall of Egypt, Mall of Oman and City Centre-branded malls in markets including the United Arab Emirates, Bahrain and Oman. The group also develops integrated communities that combine residential, commercial, retail, hospitality and leisure components, including Al Mouj Muscat, Al Zahia, Tilal Al Ghaf and Waterfront City Business Park in Beirut. Majid Al Futtaim Retail is the group's largest consumer-facing operating platform. In 1995 it entered a partnership with Carrefour and became the French retailer's franchisee and operator across a large territory covering the Middle East, North Africa and Central Asia. The business operates hypermarkets, supermarkets and digital grocery channels, and has expanded through store acquisitions, distribution infrastructure, analytics and technology investments. It also manages fashion, home-furnishing and specialty-retail franchises, including past or present regional arrangements involving Hollister, Abercrombie & Fitch, lululemon, Crate & Barrel, CB2, Maisons du Monde and other brands. Majid Al Futtaim Ventures covers entertainment, cinemas, food and beverage, financial services, facilities management and related joint ventures. Its leisure portfolio has included Ski Dubai, Ski Egypt, Magic Planet, iFly Dubai, Wahoo! Waterpark and Little Explorers. VOX Cinemas became a significant regional cinema operator and expanded into Saudi Arabia after the country's cinema market reopened. The group has also operated or supported LEGO and American Girl retail concepts and held food-and-beverage development or franchise rights through partnerships. The company remains privately held and is not known to have a public stock-market listing or ticker. Majid Al Futtaim died in 2021, after which the business continued under professional management and family ownership. Publicly reported 2023 figures cited by the group's Wikipedia article were AED 34.5 billion in revenue and AED 2.7 billion in net profit. Because the group operates through numerous subsidiaries, franchises and joint ventures, individual brand ownership can vary by country and business line.

Majid Al Futtaim established the group in 1992 after separating from the wider family retail business associated with his cousin Abdullah. The new company initially concentrated on real estate and property management rather than operating as a conventional general retailer. Its strategy was to develop large-scale destinations in which shopping, hospitality and entertainment could be combined. A major turning point came in 1995, when the group entered a joint venture with Carrefour. The arrangement gave Majid Al Futtaim responsibility for developing and operating Carrefour hypermarkets and supermarkets across a large part of the Middle East, North Africa and Central Asia. This created a substantial retail platform alongside the property business. In 1995 the group also opened the first Magic Planet location at City Centre Deira, establishing a leisure format that later expanded across the region. The group's mall network grew through City Centre projects and destination properties. City Centre Deira opened in Dubai in 1995, followed by City Centre Ajman in 1998 and City Centre Muscat in 2001. Mall of the Emirates opened in Dubai in 2005 and became the group's signature asset, combining international retail with Ski Dubai, hospitality, dining and entertainment. Further expansion included City Centre Bahrain in 2008, Mirdif City Centre in 2010, City Centre Fujairah in 2012, Mall of Egypt in 2017, and later Mall of Oman and additional projects in the Gulf. The corporate separation from the earlier family business was finalized in 2000 through an agreement arbitrated by Sheikh Mohammed bin Rashid Al Maktoum. The settlement divided assets, liabilities and business activities between the related businesses. Majid Al Futtaim then continued to build a separately controlled group organized around properties, retail and ventures. In the 2010s, the company broadened its operating scope. Carrefour became a wholly owned Majid Al Futtaim Retail business in 2013 after Carrefour sold its minority interest. The group expanded fashion and specialty retail through franchise arrangements, developed cinemas and family entertainment, and entered food and beverage, financial services and facilities management. It also pursued technology and digital commerce, including analytics infrastructure, mobile payments and online-grocery partnerships. Leisure became an important differentiator. Ski Dubai gave Mall of the Emirates an attraction with international visibility, while Ski Egypt extended the indoor-snow concept to Africa. VOX Cinemas expanded its regional screen network and entered Saudi Arabia after cinemas were authorized to reopen. Mixed-use developments such as Al Mouj Muscat and Tilal Al Ghaf reflected the group's ambition to create complete communities rather than standalone shopping centres. Majid Al Futtaim died in 2021. The privately held group continued under professional executive leadership and family ownership. In 2022 it was ranked sixth in Forbes Middle East's list of the Top 100 Arab Family Businesses. The group reported, according to figures cited in the Wikipedia reference, AED 34.5 billion in revenue and AED 2.7 billion in net profit for 2023. Its later retail strategy included the reported transition of Carrefour-branded Middle Eastern branches to HyperMax in 2025, while its property, entertainment and hospitality businesses continued to operate through separate platforms and partnerships.

• 2022

  Family-business ranking

  [1]Majid Al Futtaim Groupen.wikipedia.org

  Forbes Middle East ranked the group sixth among the Top 100 Arab Family Businesses.

• 2021

  Founder dies

  [1]Majid Al Futtaim Groupen.wikipedia.org

  Founder Majid Al Futtaim died and the group continued under successor management.

• 2017

  Mall of Egypt opens

  [1]Majid Al Futtaim Groupen.wikipedia.org

  The group opened Mall of Egypt in Sixth of October City, including Ski Egypt.

• 2013

  Carrefour venture becomes fully owned

  [1]Majid Al Futtaim Groupen.wikipedia.org

  Carrefour divested its 25 percent interest in the regional venture.

• 2005

  Mall of the Emirates opens

  [1]Majid Al Futtaim Groupen.wikipedia.org

  The Dubai destination mall opened with Ski Dubai and a large international retail offer.

• 2000

  Family-business separation finalized

  [1]Majid Al Futtaim Groupen.wikipedia.org

  An agreement divided the related businesses' assets, liabilities and operating divisions.

• 1995

  Carrefour partnership begins

  [1]Majid Al Futtaim Groupen.wikipedia.org

  Majid Al Futtaim entered the regional Carrefour operating and franchise business.

• 1995

  City Centre Deira opens

  [1]Majid Al Futtaim Groupen.wikipedia.org

  The Dubai shopping centre opened and hosted the first Magic Planet location.

• 1992

  Group founded

  [1]Majid Al Futtaim Groupen.wikipedia.org

  Majid Al Futtaim founded the company as a separate business focused initially on property and real estate management.

A premium, family-oriented destination platform combining retail, property, hospitality and entertainment, with a strong focus on integrated community experiences and international brand partnerships.

• Shopping mall · 2005

  Mall of the Emirates

  Majid Al Futtaim's landmark Dubai destination mall, opened in 2005 on Sheikh Zayed Road. It combines hundreds of international stores with restaurants, hotels, VOX Cinemas and Ski Dubai, the indoor snow and ski attraction that gives the property a distinctive tourism and leisure identity.

• Shopping malls · 1995

  City Centre malls

  The City Centre network is a regional mall format with properties in the United Arab Emirates, Bahrain, Oman and Egypt. Examples include City Centre Deira, City Centre Ajman, City Centre Bahrain, City Centre Muscat, City Centre Mirdif, City Centre Fujairah, City Centre Maadi, City Centre Almaza, City Centre Alexandria, City Centre Suhar and City Centre Al Zahia.

• Grocery retail · 1995

  Carrefour regional retail operations

  Majid Al Futtaim Retail developed and operated Carrefour hypermarkets, supermarkets and digital grocery channels across its franchise territory. The platform expanded through new stores, acquisitions, distribution infrastructure, data analytics and delivery partnerships. The regional Carrefour business was reported as rebranded to HyperMax in Middle Eastern branches in 2025.

• Cinema

  VOX Cinemas

  A regional cinema operator associated with Majid Al Futtaim's malls and entertainment strategy. Its properties include a flagship complex at Mall of the Emirates, and the brand expanded into Saudi Arabia after cinemas were permitted to reopen there.

• Leisure and entertainment · 2005

  Ski Dubai

  An indoor, mountain-themed ski and snow attraction inside Mall of the Emirates. Its large controlled environment supports skiing, snowboarding and family activities and serves as a signature differentiator for the mall.

• Leisure and entertainment · 2017

  Ski Egypt

  An indoor ski attraction opened at Mall of Egypt in 2017. It extended the group's indoor-snow model into Egypt and was described in the reference material as Africa's first indoor ski slope.

• Family entertainment · 1995

  Magic Planet

  A family entertainment centre format offering arcade games, simulations, rides and other interactive attractions. It began at City Centre Deira and expanded to locations across the Middle East and Africa.

• Mixed-use development

  Integrated communities

  The group's communities combine residential properties with retail, dining, hospitality, offices, landscaped areas and leisure facilities. Referenced projects include Al Mouj Muscat, Al Zahia, Tilal Al Ghaf and Waterfront City Business Park.

• Fashion and home retail · 2005

  MAF Fashion and specialty retail

  A franchise and specialty-retail platform created in 2005. Its regional arrangements have included Mexx, Lucky Brand, Liz Claiborne, Halston Heritage, Hollister, Abercrombie & Fitch, lululemon, Crate & Barrel, CB2 and Maisons du Monde, with availability and status varying by market and period.

• 2019Retail Business School

  United Arab Emirates · Saudi Arabia · Other Carrefour operating markets

  Majid Al Futtaim launched an employee-development school focused on capabilities for its Carrefour retail operations.

  Outcome. Created a formal training platform for retail employees.

  Source
• 2019A.R.C. retail coalition participation

  Regional and international

  The group joined A.R.C., a coalition intended to support physical and virtual multi-channel consumer experiences.

  Outcome. Positioned MAF as an early retail conglomerate participant in the coalition.

  Source

• 2025

  Rebrand Carrefour branches as HyperMaxStrategy

  Background

  The group adjusted the naming of its Middle Eastern grocery operations.

  Action taken

  Carrefour branches in the Middle East were reported as being rebranded under the HyperMax name.

  Aftermath

  The change created a distinct regional retail identity, although the precise market-by-market scope requires verification.

  Source

• 2017

  Acquire Géant hypermarketsM&A

  Background

  MAF Retail sought to expand its grocery footprint in Gulf markets.

  Action taken

  It acquired 26 Géant hypermarkets in the United Arab Emirates, Bahrain and Kuwait and rebranded them under Carrefour.

  Aftermath

  The acquisition expanded the group's store network and Carrefour presence.

  Source

• 2013

  Acquire Carrefour venture minority interestM&A

  Background

  Carrefour decided to divest its minority holding in the regional venture.

  Action taken

  Majid Al Futtaim acquired Carrefour's 25 percent interest, making the retail venture fully owned by MAF Retail.

  Aftermath

  The group gained full control of the Carrefour operating platform in its territory.

  Transaction value. €530 million (2013)

  Source

• 1995

  Enter Carrefour regional retailStrategy

  Background

  The group sought to complement property development with a scalable consumer-retail platform.

  Action taken

  It formed a joint venture with Carrefour to develop and operate hypermarkets and supermarkets across its regional territory.

  Aftermath

  The arrangement became the foundation of Majid Al Futtaim Retail and was later fully owned by MAF after Carrefour's exit.

  Source

1. 1Majid Al Futtaim Groupen.wikipedia.org
2. 2Majid Al Futtaim official websitemajidalfuttaim.com