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Majid Al Futtaim and Sheikh Mohammed share a relaxing moment.
bay today, Journalist
Emirati billionaire Majid Al Futtaim, who rose from a humble banking job to create his eponymous business empire that included a sprawling Dubai mall with an indoor ski slope, died Friday.
Majid Al Futtaim is considered one of the most important entrepreneurs to witness the revival of the UAE. Majid Al Futtaim grew up in a family of merchants, where his father Mohammed and uncle Hamad traded in timber, fabrics and pearls.
Majid Al Futtaim is the founder of Majid Al Futtaim Group, a company established in 1992 that specializes in the development and management of shopping malls, integrated cities, retail and entertainment facilities in the Middle East, Africa and Asia.
Majid Al Futtaim is committed to changing the concept of shopping and entertainment to achieve “the happiest moment of every day for all”.
The hallmarks of this vision have begun to manifest in a number of modern and innovative malls, first opened in the United Arab Emirates and then expanded to 17 markets around the world, employing more than 43,000 people.
Today, Majid Al Futtaim owns and operates 27 shopping malls, 13 hotels and four integrated urban projects, in addition to many projects under construction.
These include Majid Al Futtaim’s Mall, Mall of the Emirates, Mall of Egypt, City Center Mall and My City Center Community Mall, in addition to five malls in partnership with the Government of Sharjah.
The company also enjoys the exclusive privilege of using the “Carrefour” name in more than 30 markets in the Middle East, Africa and Asia. In addition to the online store, Majid Al Futtaim operates more than 350 stores.
Forbes estimates Al Futtaim’s net worth at more than $4 billion.
Forbes Middle East ranks him as the third richest Arab in 2021.
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