Majid Al Futtaim Holdings LLC.

What Majid Al Futtaim Holdings LLC. does

Majid Al Futtaim Holdings LLC is a Dubai-based diversified conglomerate founded in 1992 that operates integrated shopping malls, retail, entertainment, hospitality, and residential community businesses across 38 markets in the Middle East, Africa, and Asia. The company holds exclusive franchise rights for Carrefour across 12 markets and operates 390+ grocery stores, 29 shopping malls, 58 VOX Cinemas complexes with over 500 screens, more than 100 lifestyle brand stores, and master-planned residential communities including Tilal Al Ghaf and Ghaf Woods in Dubai. Beyond franchise retail and mall operations, the company runs branded hotels (Kempinski, Sheraton, Westin, Pullman, Aloft, Le Meridien), entertainment attractions such as Ski Dubai and Magic Planet, the Enova energy/facilities management joint venture with Veolia, and the Ma'an SME support platform in partnership with Dubai SME.

The company's revenue model spans transaction-based retail (Carrefour, lifestyle brand stores, VOX Cinemas ticket sales and concessions), recurring real estate lease income across 29 malls, residential property sales in master-planned communities, and hospitality room/F&B revenue. Pricing is format-driven: hypermarkets, supermarkets, Supeco (low-cost hybrid in Egypt), SAVA (discount), HyperMax, and Myli (health/beauty) address different price points within grocery. The FY2025 results disclose AED 35.9 billion (approximately USD 9.78 billion) in consolidated revenue, AED 5.1 billion in record EBITDA, and AED 3.6 billion in net profit (up 41% year-on-year), with a BBB credit rating and AED 11.9 billion in net debt. Capital structure has been strengthened via a USD 600 million Green Sukuk (2019), USD 1.25 billion sustainability-linked loan (2022), and combined USD 1 billion in Sukuk and hybrid bond issuances in 2025.

Technology and AI infrastructure underpin operations: the company reports that AI-driven inventory management reduced inventory by 25% while increasing revenue by 12%, the Enova Energy Saving Centre processes real-time building data across 350,000+ assets, and Majid Al Futtaim executed the world's first live agentic AI payment via Mastercard's AgentPay framework. Distribution spans 390+ physical Carrefour stores, omnichannel digital platforms, 26 lifestyle brand digital storefronts, loyalty (SHARE Rewards expanded to Saudi Arabia), and franchise agreements with global brands. Following founder Majid al-Futtaim's 2021 death, the UAE government restructured the conglomerate in summer 2025; current leadership is led by CEO Ahmed Galal Ismail.

Name

Majid Al Futtaim Holdings LLC.

Legal name

Majid Al Futtaim Holding LLC

Website

https://majidalfuttaim.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Majid Al Futtaim is a Dubai-based diversified conglomerate operating exclusive Carrefour franchises across 12 markets, 29 shopping malls, 58 VOX Cinemas, lifestyle brand stores, hotels, and master-planned residential communities across 38 markets in MEA and Asia, serving 700,000+ customers daily.

Ownership category

akta.pro rank

Product category

Diversified Lifestyle Conglomerate

NAICS

Warehouse Clubs, Supercenters, and Other General Merchandise Retailers (4552), General Merchandise Retailers (455), Supermarkets and Other Grocery Retailers (except Convenience Retailers) (44511)

SIC

Retail-Variety Stores (5331), Retail-Misc General Merchandise Stores (5399)

akta.pro primary industry

Generalist Marketplaces & Online Malls (BPAMAGAA)

Keywords

• Shopping mall operations
• Hypermarket retail
• Cinema entertainment
• Master-planned communities
• Lifestyle brand retail

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Shopping Mall Operations: Majid Al Futtaim operates 29 shopping malls across the Middle East, generating revenue through retail leases, property management, and foot traffic monetization. The company is investing Dh5 billion in Mall of the Emirates transformation.
2. Carrefour Retail Operations: Exclusive operator of Carrefour across 12 markets in Middle East, Africa, and Asia with over 390 stores. Revenue from grocery retail sales to consumers, serving over 700,000 customers daily.
3. VOX Cinemas Entertainment: VOX Cinemas operates 58 cinema complexes with over 500 screens across the region, including exclusive 4DX rights and VOX MAX large format screens, generating entertainment revenue from ticket sales and concessions.
4. Lifestyle Brand Partnerships: Operating portfolio of over 100 lifestyle fashion, home, and beauty stores with exclusive rights for international brands like lululemon, Abercrombie & Fitch, Hollister, and others, generating revenue through retail partnerships and brand commissions.
5. Real Estate Development: Master-planned communities including Tilal Al Ghaf, Al Zahia, Ghaf Woods, Al Mouj Muscat, and Waterfront City. Revenue from residential property sales and community development.
6. Hotels: Hotels adjacent to malls managed by international brands including Kempinski, Sheraton, Le Meridien, Westin, Pullman, and Aloft, generating hospitality revenue from rooms, F&B, and events.
7. Capital Markets: Successfully tapped capital markets with combined $1 billion in Sukuk and hybrid bond issuances in 2025, with BBB credit rating and stable outlook.

Pricing tiers

Go-to-market motion5 records

Distribution channels8 records

Marketing channels10 records

Core offering

Majid Al Futtaim operates an integrated lifestyle conglomerate spanning shopping malls, hypermarket and supermarket retail (Carrefour franchise across 38 markets), cinema entertainment (VOX Cinemas), lifestyle brand retail (lululemon, Abercrombie & Fitch, Hollister, Crate&Barrel), hotels, master-planned residential communities, and energy and facilities management services through the Enova joint venture with Veolia. The company serves over 700,000 customers daily across the Middle East, Africa, and Asia.

Product overview

Majid Al Futtaim Holdings LLC is a diversified conglomerate operating across retail, shopping malls, entertainment, hospitality, residential development, and SME support. The core retail operations include Carrefour (hypermarkets and supermarkets) and SAVA (modern discount format). Entertainment offerings comprise VOX Cinemas and Ski Dubai. The company owns and operates premier shopping destinations including Mall of the Emirates and Mall of Egypt. Real estate development includes the Tilal Al Ghaf residential community. Additional operations span energy management (Enova), car rental (Myles), and the Ma'an SME support platform.

Differentiator

Problem solved

Functional benefit

Brands

• Carrefour: Hypermarket and supermarket brand operated by Majid Al Futtaim Retail across 12 markets in Middle East, Africa, and Asia with over 390 stores
• VOX Cinemas
• Ski Dubai
• Ski Egypt
• Magic Planet
• iFLY Dubai
• Little Explorers
• Mall of the Emirates
• Enova
• THAT Concept Store
• Shiseido Ginza Tokyo
• lululemon
• Abercrombie & Fitch
• Hollister
• AllSaints
• LEGO Certified Stores
• Crate&Barrel
• Poltrona Frau
• HyperMax
• Supeco
• Myli
• SAVA
• City Centre
• My City Centre
• Matajer
• Tilal Al Ghaf
• Al Zahia
• Al Mouj Muscat
• Waterfront City
• Ghaf Woods
• Aloft Dubai Creek
• Kempinski Hotel Mall of the Emirates
• Le Meridien Bahrain City Centre
• Pullman City Centre Residences
• Pullman City Centre Deira
• Sheraton Mall of the Emirates
• The Westin Bahrain City Centre

Quantifiable outcome

• Revenue increased 6% year-on-year to AED 35.9 billion with 41% profit surge to AED 3.6 billion in FY2025
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered core and minor.

• MIDAR for Investment and Urban DevelopmentcoreStrategic or Co-development Partner · 21 June 2026Strategic partnership to develop Mada City mixed-use project in New Cairo, Egypt with initial development value of USD 3.1 billion. Project spans 553 feddans with approximately 6,000 residential units, hotel, commercial, and entertainment facilities. Total development value could exceed USD 4 billion including potential retail and entertainment destination. Marks Majid Al Futtaim's first residential project in Egypt after nearly three decades of operating in the country.
• Alshaya GroupcoreChannel Partner/ Reseller/ Distributor · 21 May 2026Primark entered UAE through Alshaya Group partnership, with Dubai debut exceeding expectations with 1 million customers and 4 million items sold across two stores. Expansion to Bahrain (October) and Qatar (October-November) planned, with additional Dubai locations in early 2027.
• Dubai SouthcoreStrategic or Co-development Partner · 19 May 2026Agreement to develop Dh62 billion mixed-use master-planned community near Al Maktoum International Airport. Spanning 22 million square feet, the project will include residential, retail, and lifestyle components featuring a large shopping mall as retail, entertainment, and lifestyle destination. One of the largest new urban developments announced in the emirate.
• Dubai SME (Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development)coreStrategic or Co-development Partner · 2 April 2026Launch of Ma'an platform to support UAE's homegrown SMEs through access to Majid Al Futtaim's full ecosystem including Mall of the Emirates, THAT Concept Store, VOX Cinemas, and Carrefour. Partnership aims to boost and support local SMEs through access to retail and entertainment platforms.
• Alshaya GroupcoreStrategic or Co-development Partner · 1 April 2026Strategic partnership deepening for new wave of store openings across Middle East mall portfolio. Includes Primark opening at City Centre Mirdif and Mall of the Emirates, H&M refurbishment at Mall of the Emirates, and Ulta Beauty UAE debut. CEOs of both companies emphasized partnership cements Majid Al Futtaim's position as leading retail destination partner.
• BLD GroupminorStrategic or Co-development Partner · 15 February 2026Strategic partnership with BLD Group to bring Carrefour to Matrouh, Egypt through a Lusail 55,000 sqm mixed-use development project. Marks first Carrefour presence in the governorate, with project scheduled for summer 2026 launch.
• MastercardcoreTechnology or Integration · 27 January 2026Executed world's first live agentic AI payment demonstration in Dubai through Mastercard's AgentPay framework. Enables third-party AI agents to make purchases on behalf of consumers using secure tokenization via MDES and biometric authentication. Service expanded to allow users to book cinema tickets through AI agents.
• UAE Alliance for Climate Action (UACA) and Emirates Nature-WWFminorStrategic or Co-development Partner · 20 November 2024Participation in Road2.0 green mobility initiative with pledge to adopt Zero Emission Vehicles. Targets 30% decarbonization of road transport fleet by 2030, 100% by 2040.
• OMRAN (Oman Tourism Development Company)coreStrategic or Co-development Partner · 14 November 2018Joint venture for Madinat Al Irfan, Muscat's 'City for the Future.' Majid Al Futtaim is master developer of 4.9 million sqm, crafting first phase of master plan with approximately 250,000 sqm over five years including public amenities.
• VeoliacoreStrategic or Co-development PartnerJoint venture creating Enova, the leader in energy and multi-technical services in the Middle East. Enova designs and provides water, waste, and energy management solutions contributing to sustainable development. Manages over 350,000 assets and employs over 2,000 people.
• ne'ma (UAE National Food Loss and Waste Initiative)minorStrategic or Co-development PartnerParticipation in ne'ma's largest-ever Ramadan food rescue operation through 'Valuing Our Roots' campaign operating across five emirates. Coalition includes ADAFSA, Khalifa Foundation, Silal, Takatof, and over 20 food retailers, aiming to redistribute over 300,000 tonnes of surplus food to 10,000+ families.
• The Waste LabminorStrategic or Co-development PartnerThe Waste Lab converts organic food waste from Majid Al Futtaim operations into nutrient-rich compost, diverting over 2 million kilograms from landfills. Partnership supports UAE's target to cut food waste in half by 2030.
• Dubai SMEminorStrategic or Co-development PartnerLaunched Ma'an platform integrating UAE-based entrepreneurs into retail ecosystem of Mall of the Emirates and Vox Cinemas, with first cohort announced through Dubai Design Week.

Scale indicators17 records

Recent moves13 records

Expansion highlights7 records

Direct peers

• Alshaya Group: Kuwait-headquartered franchise operator of international brands (H&M, Primark, Ulta Beauty, etc.) across the Middle East. Closely comparable to MAF's lifestyle division in business model and customer base, with active expansion partnership with MAF including Primark UAE debut and Bahrain/Qatar rollouts through MAF malls.
• Landmark Group: Dubai-based diversified retail conglomerate operating Centrepoint, Splash, Max, and other value fashion and home retail formats across MENA and India. Directly comparable as a multi-brand retail conglomerate serving similar mass-market customers in the same geography.
• LuLu Group International: UAE-based hypermarket and supermarket operator with 250+ stores across the Middle East, Asia, and Africa. Direct competitor to MAF's Carrefour franchise in grocery retail, serving similar value-conscious consumers in overlapping markets.
• Chalhoub Group: Dubai-based luxury retail distribution and brand partnership specialist operating across the Middle East. Comparable to MAF Lifestyle in franchise and exclusive distribution of premium international brands in MENA markets.

Broad incumbents

• Emaar Properties: Dubai-based real estate developer and operator of The Dubai Mall, Dubai Marina Mall, and other major shopping destinations. Comparable in shopping mall operations and master-planned community development, with broader real estate focus including offices and hospitality.
• Unibail-Rodamco-Westfield: Global shopping mall operator (Westfield brand) with flagship destinations worldwide. Comparable in shopping mall operations and premium retail destination positioning, but operating in different geographies and at broader global scale.
• Savola Group: Saudi-based food retail and consumer goods conglomerate operating Panda Retail (hypermarkets/supermarkets) and other retail formats in MENA. Comparable in food retail operations and regional grocery footprint, though with different category focus.

Regional players

• Aldar Properties: Abu Dhabi-based real estate developer with significant mall and community developments (Yas Mall, Al Jimi Mall) and residential projects. Comparable in master-planned community and mall operations but primarily Abu Dhabi-focused rather than pan-GCC.
• Meraas: Dubai-based lifestyle and real estate developer behind La Mer, City Walk, Bluewaters, and other integrated retail/entertainment destinations. Comparable in mixed-use lifestyle destination development and entertainment integration in Dubai.
• Al Hokair Group: Saudi-based entertainment, retail, and hospitality conglomerate operating fashion retail, cinemas, and family entertainment centers. Comparable as a regional entertainment and retail conglomerate with similar franchise-based lifestyle brand operations in the GCC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/majidalfuttaim
• YouTubeyoutube.com/user/majidalfuttaim
• Facebookfacebook.com/majidalfuttaim
• LinkedInlinkedin.com/company/majid-al-futtaim

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries11 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Majid Al Futtaim Holdings LLC.