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Majid Al Futtaim and Sheikh Mohammed share a lighthearted moment.
bay today, our reporter
Emirati billionaire Majid Al Futtaim, who has grown from a humble banking job to a eponymous business empire that includes a massive Dubai Mall with an indoor ski slope, died on Friday.
Majid Al Futtaim is considered to be one of the most important entrepreneurs to witness the revival of the UAE. Majid Al Futtaim grew up in a merchant family where his father Mohammed and his uncle Hamad traded wood, fabrics and pearls.
Majid Al Futtaim is the founder of Majid Al Futtaim Group, established in 1992, specializing in the development and management of shopping malls, integrated cities, retail and entertainment facilities in the Middle East, Africa and Asia.
Indoor ski slopes in the Mall of the Emirates.
Majid Al Futtaim is committed to changing the concept of shopping and entertainment in order to achieve “the happiest moments of every day for all”.
The hallmarks of this vision have already begun to manifest in a number of modern and innovative shopping malls, which first opened in the United Arab Emirates and then expanded to 17 markets around the world, employing over 43,000 people.
Today, Majid Al Futtaim owns and operates 27 shopping malls, 13 hotels and 4 mixed-use urban projects, in addition to many projects under construction.
These include Majid Al Futtaim’s Mall, Mall of the Emirates, Egypt Mall, Downtown Mall and My City Center Community Mall, as well as five malls in partnership with the Sharjah government.
The company also enjoys the exclusive use of 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 to be over $4 billion.
Forbes Middle East ranked him third in its 2021 list of the richest Arabs.
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