Crafting Experiences, Building Communities: The Majid Al Futtaim Approach

Majid Al Futtaim Holding, an Emirati conglomerate and pioneer, has transformed the landscape of retail, entertainment, and real estate business in the Middle East and North Africa (MENA) region. The company was founded by its namesake and his family back in 1992 and is now a global player, most famously being home to the Mall of the Emirates in Dubai and Carrefour hypermarkets. MAF is all about quality, innovation, and customer satisfaction through shopping malls, leisure, and lifestyle businesses.

MAF has today an extensive footprints in 15 countries and has the most fabulous portfolio of assets that includes shopping malls, hotels, hypermarkets, entertainment venues, and residential communities. It’s a journey since Majid Al Futtaim first founded the company with an aim to redefining retail experiences across the region. His vision was not to create just business environments but entire ecosystems that bring shopping, leisure, and living together in a harmonic and sustainable way. Such vision has been delivered by both pioneering developments and sustainable growth strategies.

Majid Al Futtaim became one of the most revolutionary entities in the retail world through the exclusive franchise of Carrefour in the region. MAF took the French hypermarket chain to new heights in the UAE and, beyond that, ensured brand presence in several other countries of the MENA region. The success of this partnership opened up opportunities for MAF to eventually fully own the Carrefour franchise in 2013. The company is once again innovating through schemes like the “sail-through” supermarket concept from Dubai, which caters to customers on yachts and provides a perfect mixture of luxury and convenience.

Another subsidiary that has contributed to the evolution of the MENA retail landscape is Majid Al Futtaim Properties, the real estate arm of MAF. Under this division are flagship properties like Mall of the Emirates, a world-class shopping destination home to the region’s first indoor ski resort, Ski Dubai. Such properties attract millions of visitors annually and have made Dubai a shopping and entertainment destination in the world. From shopping malls, MAF Properties has developed complete living communities such as Tilal Al Ghaf in Dubai and Al Zahia in Sharjah, integrating shopping, dining, and play to residential spaces-all aspects of lifestyle-driven real estate from the vision of MAF.

Majid Al Futtaim Ventures has ventured into entertainment and leisure by launching several pathbreaking initiatives. Vox Cinemas, another asset under MAF, has very significantly altered the perception of viewing cinemas in the region with its premium offerings and advanced technology. MAF through the growth of Vox Cinemas across Saudi Arabia, plays a part in rebuilding the entertainment sector as Saudi Vision 2030 unfolds. Other initiatives are Ski Egypt, the first indoor ski slope in Cairo and Magic Planet family entertainment centres, with family fun held in malls throughout MENA. MAF commitment to sustainability is also reflected in green building initiatives as well as in community well-being. Investments in eco-friendly infrastructure were guided by the ambitious sustainability goals of Dubai. First in this region to hold LEED-certified facilities, all its buildings minimize environmental impacts. Furthermore, MAF empowers communities through the initiatives it undertakes toward education and training programs to arm its employees in making its clientele feel more elevated while delivering service in harmony with the company’s expectation for excellence.

Majid Al Futtaim died in 2021, and with him, an era ended. His legacy continues to inspire MAF’s current ventures and strategic expansions. The company is still interested in improving the customer experience by fusing luxury and innovation in its wide range of ventures. In 2023, MAF reported revenues of AED 34.5 billion and net profit of AED 2.7 billion, which reflects a sound business model and customer appeal.