MAIR Group
MAIR Group is a publicly listed Abu Dhabi strategic investment company operating food retail (107 ADCOOP and SPAR stores), commercial real estate (70+ Makani community malls), and food security/logistics investments across the UAE.
- Company typePublic
- Founded2024
- HeadquartersAbu Dhabi, United Arab Emirates
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What MAIR Group does
MAIR Group PJSC is a publicly listed strategic investment company headquartered in Abu Dhabi, UAE, that operates across the food ecosystem through three integrated verticals. The Group runs food retail via ADCOOP (the Abu Dhabi Cooperative Society brand operating since 1981, with 107 stores including 22 hypermarkets, 56 supermarkets, and 29 convenience stores) and SPAR UAE (17 stores across Dubai, Sharjah, and Ras Al Khaimah). It operates commercial real estate through Makani Real Estate, which manages more than 70 community malls and centers (including the Mall of Al Ain and Souq Al Jami Al Ain) totaling 404,000+ sqm of gross leasable area and 154,000+ sqm of retail gross selling area at 92% occupancy. A third vertical, strategic investments, includes the Wahat Al Masah FMCG stake, the recently acquired KEZAD Logistics Park (128,451 sqm), and the exclusive Abu Dhabi Citizens' Food Products Program managed on behalf of the Department of Municipalities and Transport (DMT), which is delivered through 50+ dedicated stores with TAMM platform integration and home delivery.
The Group generates revenue primarily through high-volume consumer retail transactions (24 million annual customer visits, 65,000+ daily shoppers) supplemented by recurring rental income from its commercial real estate portfolio. In FY 2024, MAIR reported revenue of AED 2.0 billion (~$545M), EBITDA of AED 338 million, and net profit of AED 171 million. The Group maintains a debt-free balance sheet with AED 549 million in cash as of Q1 2025, and operates with a 12,903-strong shareholder base following its December 9, 2024 listing on the Abu Dhabi Securities Exchange (ADX: MAIR) at a market capitalization of approximately AED 2.6 billion (USD 706 million).
Following the IPO, MAIR has pursued an aggressive vertical integration strategy explicitly aligned with the UAE National Food Security Strategy 2051. Recent moves include the AED 295 million acquisition of KEZAD Logistics Park from AD Ports Group (January 2026), a strategic MoU with AD Ports Group and BUA Group to develop integrated sugar refineries and edible oil facilities with potential sites in Africa and Latin America (February 2026), AED 200 million in development partnerships with Awqaf Abu Dhabi on endowment land (March 2026), and an AED 1 billion collaboration with Eagle Hills on the Mother of the Nation City project (March 2026). The Group also initiated a unified ADCOOP rebranding program in Q1 2025 covering 100+ stores, signaling store-format modernization across its retail footprint.
MAIR Group firmographics
Firmographics- Name
- MAIR Group
- Legal name
- MAIR Group PJSC
- Website
- https://mairgroup.com
- Company type
- Public
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- MAIR Group is a publicly listed Abu Dhabi strategic investment company operating food retail (107 ADCOOP and SPAR stores), commercial real estate (70+ Makani community malls), and food security/logistics investments across the UAE.
- Ownership category
- akta.pro rank
MAIR Group industry classification
Industry- Product category
- Grocery Retail and Commercial Real Estate
- NAICS
- Warehousing and Storage (4931), Management of Companies and Enterprises (5511)
- SIC
- Public Warehousing & Storage (4220)
- akta.pro primary industry
- Industrial & Logistics Property Management (BPAJAGAC)
- akta.pro secondary industry
- Warehousing & Logistics Facilities Brokerage (BPAJACAA)
Keywords
Where MAIR Group is headquartered
LocationHeadquarters
- HQ city
- Abu Dhabi
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices1 record
Markets served
MAIR Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D, Others
Revenue model
- Grocery Retail: Revenue generated from food retail operations through ADCOOP and SPAR store networks, including hypermarkets, supermarkets, and convenience stores. The grocery retail segment contributed AED 487 million in Q1 2025 with ongoing rebranding program to modernize store formats.
- Commercial Real Estate: Revenue from Makani Real Estate portfolio including 70+ community malls and centers, with 92% occupancy rate. Rental income from retail tenants across properties including Mall of Al Ain and Souq Al Jami Al Ain.
- Strategic Investments: Revenue from associated investments in the food ecosystem including Wahat Al Masah (FMCG sector), supporting the UAE National Food Security Strategy through vertical integration.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Consumer retail pricing through ADCOOP and SPAR stores |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels4 records
MAIR Group product offering
Product offeringCore offering
MAIR Group is a strategic investment company headquartered in Abu Dhabi that operates two core business verticals: (1) Food retail through the ADCOOP brand (100+ hypermarkets, supermarkets, and convenience stores across Abu Dhabi and beyond) and the SPAR franchise (17 stores in Dubai, Sharjah, and Ras Al Khaimah); and (2) Commercial real estate through Makani Real Estate, managing 70+ community malls and centers including the Mall of Al Ain and Souq Al Jami Al Ain. The Group also holds strategic investments in food ecosystem companies such as Wahat Al Masah (FMCG) and manages the exclusive Abu Dhabi Citizens' Food Products Program in partnership with the Department of Municipalities and Transport.
Product overview
MAIR Group is a strategic investment company headquartered in Abu Dhabi, operating primarily in grocery retail and commercial real estate. Its core products include: (1) Food retail operations through ADCOOP (Abu Dhabi Cooperative Society) — the flagship brand with 100+ stores including hypermarkets, supermarkets, and convenience stores — and the international SPAR franchise with 17 stores across Dubai, Sharjah, and Ras Al Khaimah; and (2) Commercial real estate through Makani Real Estate, managing 70+ community malls and centers including Mall of Al Ain and Souq Al Jami Al Ain, with over 404,000 sqm of gross leasable area. The Group also manages the Abu Dhabi Citizens' Food Products Program in partnership with DMT, and holds interests in associated investments such as Wahat Al Masah (FMCG/agrifood processing). These verticals are interconnected: Makani's retail properties house ADCOOP and SPAR stores, while the logistics and food security initiatives support the retail supply chain across the entire portfolio.
Differentiator
Problem solved
Functional benefit
Brands
- Makani: Commercial real estate brand managing over 70 malls and community centers, including Mall of Al Ain and Souq Al Jami Al Ain
- Abu Dhabi Coop
- SPAR UAE
Products and services
- ADCOOP (Abu Dhabi Cooperative Society) ADCOOP is MAIR Group's flagship grocery retail brand operating over 100 food retail stores including hypermarkets, supermarkets, and convenience stores across Abu Dhabi, Al Ain, and northern emirates. It serves 65,000+ shoppers daily under the unified ADCOOP identity uniting seven legacy retail brands.
- SPAR UAE SPAR is a globally recognized retail chain managed in the UAE by ADCOOP. MAIR Group operates 17 SPAR hypermarkets, supermarkets, and convenience stores across Dubai, Sharjah, and Ras Al Khaimah, offering diverse product ranges.
- Makani Real Estate Makani Real Estate is MAIR Group's commercial real estate arm and one of the UAE's top five retail property operators. It manages over 70 malls and community centers, including the Mall of Al Ain and Souq Al Jami Al Ain, with 404,000 sqm of gross leasable area and 154,000 sqm of retail gross selling area.
- Abu Dhabi Citizens' Food Products Program Exclusive program managed by MAIR Group through ADCOOP in partnership with DMT, providing essential food products (rice, flour, harees) and locally produced food at preferential prices to Abu Dhabi citizens via 50+ dedicated stores with TAMM platform integration and home delivery services.
- Mall of Al Ain Flagship mall of Al Ain city operated by Makani Real Estate, featuring over 350 retail brands and 60+ food and beverage outlets, serving as a major retail and lifestyle destination in the Eastern Region of Abu Dhabi.
- Souq Al Jami Al Ain Community-oriented retail and dining destination in Al Ain's Central District adjacent to the Sheikh Khalifa Grand Mosque, operated by Makani Real Estate as part of its portfolio of premier destinations.
Quantifiable outcome
- AED 2.0 billion annual revenue with AED 171 million net profit in 2024
- +4 more outcomes
Companies that use MAIR Group
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
MAIR Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
MAIR Group partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core, key, minor and flagship.
- Awqaf Abu DhabicoreMoU signed to implement AED 200 million worth of development projects on endowment land as part of the Mother of the Nation Endowment for Orphans campaign. Awqaf Abu Dhabi provides endowed land while MAIR Group's Makani Real Estate oversees development, management, and implementation. Partnership aims to create sustainable endowment returns supporting orphan care programs.
- Eagle HillskeyCollaboration on AED 1 billion Mother of the Nation City project as part of the Mother of the Nation Endowment for Orphans initiative. Partnership with Awqaf Abu Dhabi for sustainable endowment funding to support orphans across UAE.
- AD Ports GroupcoreMoU to explore developing integrated sugar refineries and edible oil facilities in Abu Dhabi and international markets, aiming to establish the region's largest agri-food hub. Leverages Khalifa Port infrastructure for agro-industrial projects spanning grains, pulses, animal feed, and agricultural commodities with potential sites in Africa and Latin America.
- BUA GroupcoreStrategic MoU with AD Ports Group and MAIR Group to explore sugar refining, agro-industrial development, and integrated global logistics solutions. Partnership aligns with UAE National Food Security Strategy 2051 and Nigeria's agricultural transformation agenda, aiming to reduce supply chain inefficiencies between West Africa and Gulf.
- AD Ports GroupkeyAgreement to acquire KEZAD Logistics Park - KLP Free Zone 3, a free zone industrial and logistics group of warehouses. Located within KEZAD Al Ma'mourah with proximity to Khalifa Port and direct access to major transport corridors. Transaction valued at AED 295 million through Makani Real Estate.
- Eagle HillsminorLand acquisition transaction on Al Reem Island worth AED 85 million as part of asset optimization efforts. Land to be developed into mixed-use commercial center.
- Al Jazira Sports ClubkeyMoU for Makani Real Estate to develop 80,000 square meters of land adjacent to MBZ Stadium into an integrated commercial center featuring entertainment destinations and healthcare services focused on promoting healthy lifestyle. Marks MAIR Group as official partner of Al Jazira Club.
- Department of Municipalities and Transport (DMT)flagshipExclusive agreement for MAIR Group to manage Abu Dhabi Citizens' Food Products Program through 50+ dedicated stores. Leverages IT systems, logistics capabilities, and TAMM platform integration for registration, purchase, and tracking. Provides home delivery services and introduces locally produced food products at preferential prices.
Scale indicators19 records
Recent moves8 records
Expansion highlights6 records
MAIR Group competitors and assessment
Company assessmentDirect peers
- Al Maya Group: Al Maya Group is a UAE-based grocery wholesaler and supermarket operator with a comparable mix of food distribution and retail. Competes with MAIR Group in the supermarket and FMCG distribution space across the UAE.
- Lulu Group International: Lulu Group is the largest UAE-headquartered hypermarket and supermarket operator with a comparable grocery retail footprint across the Gulf and a similarly diversified food-supply chain. Competes directly with MAIR Group's ADCOOP/SPAR network for grocery share in Abu Dhabi and the wider UAE.
- Union Coop: Union Coop is a Dubai-based cooperative hypermarket and supermarket operator with a comparable cooperative-heritage governance structure and similar community-focused retail positioning. Direct competitor to MAIR Group's ADCOOP and a benchmark for the cooperative-to-listed-company evolution MAIR has just completed.
- Agthia Group: Agthia Group is an Abu Dhabi-headquartered food and beverage company (FMCG) listed on ADX, operating in flour, animal feed, and processed foods — directly comparable to MAIR Group's Wahat Al Masah FMCG stake and aligned with the same UAE food security strategy.
- Majid Al Futtaim Retail (Carrefour UAE): Majid Al Futtaim operates the Carrefour franchise across the UAE and the broader MENA region, directly competing with MAIR Group's hypermarket and supermarket formats while also running a large community mall portfolio (Mall of the Emirates, City Centre) — making it a dual retail + real estate peer.
- Spinneys (FOODCO): Spinneys is a UAE-headquartered premium grocery retailer operating supermarkets and convenience stores across the country. Overlaps with MAIR Group's ADCOOP and SPAR banners in customer segments and store-format competition, particularly in higher-end neighborhoods.
Emerging players
- Emirates Refreshments / National Food Products Company: NFPC is a UAE-based food manufacturer and distributor with a comparable domestic food-processing and FMCG positioning. Partially overlaps with MAIR Group's vertical integration ambitions through Wahat Al Masah and its agri-food processing MoUs.
Regional players
- Aldar Properties: Aldar Properties is Abu Dhabi's largest listed real estate developer and community mall operator, directly competing with Makani Real Estate for tenant relationships, prime community locations, and large development mandates in Abu Dhabi. Comparable in capital intensity and government-linked project access.
- Wahat Al Zaweya / Al Dhafra Coop-style regional coops: Regional UAE cooperative grocery operators share MAIR Group's cooperative-heritage DNA and community-retail model, providing a structural comparable even though several such entities have been consolidated into MAIR Group via the ADCOOP rebranding.
Broad incumbents
- Americana Group (Investcom / KFG): Americana is a MENA-wide food operator and franchise restaurant/hospitality business that overlaps with MAIR Group's broader food ecosystem investments and QSR-adjacent retail tenants. A broader incumbent comparable given its scale and regional diversification across food categories.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
MAIR Group social profiles
Digital presenceMAIR Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
MAIR Group leadership team
Management profileNumber of profiles
Profiles15 records
MAIR Group subsidiaries and ownership
Company hierarchySubsidiaries4 records
MAIR Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MAIR Group M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MAIR Group
What does MAIR Group do?
MAIR Group is a strategic investment company headquartered in Abu Dhabi that operates two core business verticals: (1) Food retail through the ADCOOP brand (100+ hypermarkets, supermarkets, and convenience stores across Abu Dhabi and beyond) and the SPAR franchise (17 stores in Dubai, Sharjah, and Ras Al Khaimah); and (2) Commercial real estate through Makani Real Estate, managing 70+ community malls and centers including the Mall of Al Ain and Souq Al Jami Al Ain. The Group also holds strategic investments in food ecosystem companies such as Wahat Al Masah (FMCG) and manages the exclusive Abu Dhabi Citizens' Food Products Program in partnership with the Department of Municipalities and Transport.
Is MAIR Group a public or private company?
MAIR Group is a public company. It is classified as public and is currently operating.
When was MAIR Group founded?
MAIR Group was founded in 2024. It employs 5,001 to 10,000 people.
Where is MAIR Group based?
MAIR Group is headquartered in Abu Dhabi, United Arab Emirates, in the Middle East region.
How does MAIR Group make money?
Three revenue lines are on record. Grocery Retail is the primary driver. The others are commercial Real Estate and strategic Investments.
Who are MAIR Group's main competitors?
Direct peers on record are Al Maya Group, Lulu Group International, Union Coop, Agthia Group, Majid Al Futtaim Retail (Carrefour UAE) and Spinneys (FOODCO). Emirates Refreshments / National Food Products Company is listed as an emerging player. Regional players are Aldar Properties and Wahat Al Zaweya / Al Dhafra Coop-style regional coops. Americana Group (Investcom / KFG) is listed as a broad incumbent.
Does MAIR Group have an API?
No public API is recorded for MAIR Group.
What industry is MAIR Group in?
MAIR Group's product category is Grocery Retail and Commercial Real Estate. Its primary akta.pro industry code is BPAJAGAC, Industrial & Logistics Property Management, with a secondary code of BPAJACAA, Warehousing & Logistics Facilities Brokerage. Its NAICS code is 4931 and its SIC code is 4220.