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Key Facts

BBB

Rating Maintained for 14 Consecutive Years

0 B

USD Approximate company-wide Asset Value

0 B

USD Group Revenue

Bonds & Credit Rating

Majid Al Futtaim is the highest rated, privately owned corporate entity in the GCC, and has maintained its BBB credit rating for the past 14 consecutive years.

Financial Summary

Due to our robust balance sheet and stable cash flow, Majid Al Futtaim has a strong foundation from which to effectively manage growth.

Funding Strategy

We are committed to prudent financial management and our Funding Strategy focuses on minimising re-financing risk and ensuring flexibility and efficiency through diversified sources of funding.

Executive Leadership

Our leaders inspire, encourage and help deliver on our vision, strategy and values, everyday. They lead the way and encourage others to do the same.
Announcements & Updates
Investor_Relations_Announcements_Presentation;

The Investor Relations Presentation

Access the latest Investor Relations Presentation here. Please contact the Investor Relations team to obtain information about the next update and call.

24 Mar 2025

Majid Al Futtaim Announces Contractor For Plagette 32 And Amara Developments At Tilal Al Ghaf

28 Apr 2025
Majid Al Futtaim Logo

Dubai, UAE, April 28, 2025: Majid Al Futtaim, a leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa, and Central Asia, has officially appointed United Engineering Construction Company - Dubai (UNEC) as the main contractor for Plagette 32 and Amara, two landmark residential developments within Tilal Al Ghaf, its flagship lifestyle destination in Dubai. UNEC, a multi-award-winning general contracting company with over 40 years of regional expertise, brings a proven track record in delivering high-quality, large-scale projects across the UAE.

Valued at AED 736 million, the contract encompasses the full scope of works for 148 luxury villas, including their interior fit-out, as well as the shell and core construction of the Beach Club. It also includes in-plot and public realm landscaping, gatehouses, ancillary structures, and shallow infrastructure, ensuring the comprehensive delivery of both developments.

Commenting on the announcement, Ahmed El Shamy, CEO of Majid Al Futtaim Properties said: “Breaking ground on Plagette 32 and Amara marks a significant milestone forward in bringing our vision for Tilal Al Ghaf to life. These developments reflect our unwavering commitment to crafting exceptional, design-led communities that harmoniously blend natural beauty, architectural excellence, and elevated living. The appointment of UNEC as our main contractor reinforces our focus on quality, innovation, and delivering on refined, future-forward homes. We look forward to seeing these residences take shape and to welcoming our residents to a new era of sophisticated living.”

Plagette 32 is one of the exclusive waterfront neighbourhoods within Majid Al Futtaim’s Tilal Al Ghaf, designed to offer residents a refined yet relaxed lifestyle that feels like a permanent escape. It brings together sophisticated architecture and resort-style living, with interiors curated by the acclaimed Bergman Design House, a luxury studio with a portfolio spanning high-end hospitality, residential, and even superyacht projects. Comprising 28 elegant Club Villas and four striking Water Bungalows, each home features private gardens, expansive terraces, and fluid indoor-outdoor spaces that embrace Dubai’s year-round sunshine. At its center, a vibrant Beach Club, in partnership with Sunset Hospitality, will anchor the community with elevated leisure and dining experiences.

 Just a short stroll away, Amara offers a distinct take on modern community living. The neighborhood will feature 116 twin villas set around a landscaped central park, where water features and green spaces weave through the development to create a calming, nature-first environment. With a focus on eco-conscious materials, contemporary design, and seamless connectivity between homes and shared spaces, Amara is poised to become a serene, design-forward sanctuary for families and individuals alike.

 Engr Abdul Halim Muwahid, Chairman of UNEC, said: “We at United Engineering Construction (UNEC) are proud to be awarded and entrusted with the delivery of two of Dubai’s most anticipated residential developments. Our long-standing expertise in high-quality construction, paired with a deep commitment to excellence, will guide every stage of Plagette 32 and Amara’s development. These projects set a new benchmark for luxury living, and we are honored to play a role in realising Majid Al Futtaim’s bold vision. With a shared focus on quality, innovation, and precision, we look forward to bringing these exceptional communities to life.”

 For more information, please visit www.tilalalghaf.com

Investor Relations Contact

investorrelationscontactnikolaospassaris

Nikolaos Passaris

Head of Treasury
Laura Ford

Laura Ford

Director – Treasury
 
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