Press Releases

Majid Al Futtaim Staff Redeployment - VOX Cinemas employees at Carrefour fulfilment centre

Majid Al Futtaim Reskills and Redeploys More Than 1,000 Employees

Employees in United Arab Emirates, Saudi Arabia, Egypt, Oman and Lebanon retrain to take on roles at Carrefour

24 Mar 2020
Majid Al Futtaim Financial Statement 2019

Majid Al Futtaim Reports Increased Revenue and EBITDA in 2019

• Group revenue increased by 1% year-on-year to AED35.2 billion 
• Increased EBITDA by 1% to AED4.6 billion
• Opened 300th Carrefour store and expanded geographical footprint to 16 countries with entry to Uganda
• Scaled VOX Cinemas’ presence in Saudi Arabia with 78 new screens added
• Added two new regional shopping malls in Egypt and Oman and one community mall in UAE
• Launched SHARE, a group wide lifestyle rewards programme in the UAE
• Pledged to phase out single-use plastic from operations across portfolio by 2025
• Received ‘low risk’ Environmental, Social, and Governance (ESG) rating from Sustainalytics, and an ‘A’ rating from MSCI
• Issued the world’s largest and the region’s first corporate Green Sukuks to fund sustainable projects across the group with a total value of USD1.2 billion 
• Maintained ‘BBB’ credit rating from Standard & Poor’s and Fitch Ratings

24 Feb 2020
tilal al ghaf

Buyers rush for Majid Al Futtaim’s first ‘Elan’ townhouses at Tilal Al Ghaf

• Developer’s initial offering of 300 three- and four-bedroom townhouses have sold out
Properties were offered with a competitive six-year payment plan and a starting price of AED 1.26 million
• Community features an abundance of facilities and amenities curated for the modern family
• Elan, part of Majid Al Futtaim’s premier Tilal Al Ghaf community, was designed using the principles of ‘placemaking’ to create a sense of belonging

15 Feb 2020

Latest Blog Posts

The MENAP growth engine is not running at full steam.

How to achieve growth in the MENAP region

The story behind tapping the potential for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region is rather similar to the popular children’s tale of a small plucky train, a stalled locomotive, and challenging terrain.

- A thriving private sector is essential to drive sustainable economic growth.
- Economic integration will make MENAP a more competitive region.
- Selective deregulation, free movement of resources and common standards will encourage economic integration.

16 Jan 2020

Retailers can encourage sustainable behaviour

- Retailers have a unique opportunity to encourage behavioural change.
- The key is to make it easier for consumers to make better choices.
- The prize can be healthier and more sustainable lifestyles for all.

08 Jan 2020

How a healthy start-up ecosystem benefits all

Joe Abi Akl, Acting Chief Corporate Development Officer, Majid Al Futtaim talks about why start-ups will find more success in the region

28 Nov 2019

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