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.

Mawarid Finance is one of the leading Shari’a-compliant financial service providers in the heart of Dubai, where modern finance meets traditional values. It was established in 2006 with a paid-up capital of AED 1 billion. It is a private joint stock company and has carved a niche for itself in the Islamic finance sector. Mawarid Finance stands out with its unwavering commitment to providing products and services on Islamic financial principles like Ijarah, Murabaha, and Musharaka. The firm is run by a complete Sharia board, which makes sure that all the offers made are strictly based on the tenets of Shari’a, thus instilling trust and credibility in the eyes of its customers.

Being the only independent finance company in the UAE, Mawarid Finance operates under a unique setup of ownership structure, that is, it distributes the shares among over 350 shareholders. Such an innovation allows for the freedom in operations with no single unit holding more than 5% of the capital; this framework enhances governance besides empowering Mawarid to respond promptly to what its customers require. The company’s slogan, Falak Tayyeb, meaning “Consider it done,” is a statement that the company is fully devoted to fast, personalized service and ensures that the client receives prompt and efficient solutions tailored to his financial requirement.

Mawarid Finance is passionately committed to fostering economic development within the UAE. Being aware of the fact that SMEs are the most significant chunk of the national economy as they constitute approximately 85% of the total number of registered businesses, the company has come up with the Falak Tayyeb for SMEs initiative. The scheme is directed at the support of the financial sectors to the growth of SMEs and the integration into the larger economy. Such financing investments of AED 600 million for this campaign show that Mawarid Finance is not only the provision of capital but engagement in local business empowerment processes, creating jobs and therefore contributing to economic resilience as well.

Mawarid Finance also supports Emiratisation policy, one of which is the utilization of the employment of local UAE nationals. Indeed, with over 30% of its workforce comprising Emiratis and over 70% at the executive level, it is obvious that Mawarid has been highly devoted to national development. This is a far cry from the overall UAE private sector in which the representation of Emiratis is significantly low. As Mawarid Finance focuses on the development of local talent, it further enhances its organizational capacity but also invests in the future of the UAE economy.

Mawarid Finance is all about innovation in its core business. In 2008, it launched eMurabaha-the first-of-its-kind e-platform to assist clients in administering funding requests and transactions that are compliant with the principles of Sharia. This concept received much appreciation and bagged the “Idea of the Year” prize at Ideas.Arabia 6th International Conference in 2011. Such products, innovatively designed and executed by the company, speak for a forward-looking vision that understands how best to apply the power of technology for its customers.

Mawarid Finance has expansion efforts through strategic partnerships and investments. For instance, in 2007, the company ventured out of the UAE by investing in First Investment Bank in Bahrain. It also partnered with prominent real estate developers such as Cayan, offering Islamic financing options for luxury projects. These collaborations are made to enhance accessibility to Shari’a-compliant financing, enabling clients to realize their aspirations without compromising their values.

Mawarid Finance has diversified its service provision over the years by adopting strategic acquisitions and introducing other services, such as Arbah Investment Club on opportunities for Islamic investment, establishing Mawarid Consultancy, which renders outsourced Islamic banking and Takaful services. This expansion underlines the determination of Mawarid to build a wholesome financial ecosystem that caters to the diverse needs of their clientele.

Because Mawarid Finance continues to grow it finds itself focusing more steadfastly on innovative Shari’ah-compliant solutions tailored to empower the different dimensions of individuals and companies as well. As long as Mawarid Finance champions economic development; facilitates Emirati talents to grow; and endorses technological advancements, such strides are not merely wading through the muck within the financial arena.

This Saudi Arabian company has seen a transformation from the humble fabrication house to an integrated engineering and contracting major. With its diversified portfolio in EPC services, MIS plays a vital role in supporting oil, gas, petrochemical, and power generation industries. The company is not only satisfying the requirements of the energy sector but also has foreseen future problems with its rich experience and expertise that places it as a pioneer in the market.

MIS was an original firm located in Dubai. However, it was later shifted to Sharjah in 1985. It helped the company increase the manufacturing area and incorporate pressure vessels into its manufacturing portfolio. This step further assisted the company to simplify its activities and provided a basis for future expansion. It began EPC services in early 1990s. Therefore, it started handling larger and more complex projects. This was a milestone in the life cycle of the company that helped in building a strong reputation within the energy sector. The company established MIS Arabia in 2001, a joint venture that concentrated on the Gulf region. With this venture, MIS penetrated the emerging markets of Kuwait, Qatar, and Saudi Arabia, thus strengthening project capabilities and service offerings. The proactive steps by the company helped it win its first New Build contract in 2006, thus making a strong foothold in the industry.

The acquisition of Lamprell PLC in 2012 marked the starting point of MIS’s transformation journey, as it enhanced resources and expertise. Besides enhancing its ability to perform operations, this acquisition opened new markets for the company, enabling it to expand its scope of service. The firm operates from a highly developed facility in Port Khalid, Sharjah, covering 200,000 square meters. Its fabrication and assembly capabilities make use of the most modern technologies available. MIS’s operational footprint today extends to key markets that are Egypt, Kazakhstan, and Iraq, as part of an ambition to become a regional leader in energy services.

MIS’s business is guided by six key value streams: fabrication, EPC, new builds, refurbishments, technical services, and safety services. Each of these value streams is part of the strategy of the company so it can offer solutions comprehensive in nature and tailored according to the specific needs of clients. The company has heavily invested in its Sunbelt Safety division, specializing in critical safety equipment and services, with a focus towards maintaining the highest standards of safety-its industry, where risks for such operations are considerable.

The company has continually expanded and diversified through outstanding acquisitions and new ventures. For instance, EPI, established in 2010, is involved with EPC and EPCM projects across key markets; the acquisition of Litwin PEL also enhances the engineering capabilities of MIS in the Middle East and Africa. These strategic steps not only strengthen the service offerings by MIS but also strengthen the competitive advantage of the group in a tough market.

The wide-ranging expertise and operational capabilities of MIS are likely to address the emerging demands of the energy landscape and contribute to sustainable development in the region. With a history of quality and a view to the future, MIS is neither just a participant in the energy sector; it has been a leader, designing the future for engineering and contracting in the Gulf region and further afar.