The Emirati businessman passed away after a career full of giving
Mohammed bin Rashid: Majid Al Futtaim is a giver of the nation and an uninterrupted good
picture
Emirati businessman, Majid Al Futtaim, passed away yesterday, after a busy journey of giving.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, mourned the Emirati businessman, Majid Al Futtaim, who passed away yesterday.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, in a tweet on Twitter, said: "May God have mercy on our brother Majid Al Futtaim, the creative businessman, and one of Dubai's most important merchants and senior men, and a giver of the nation and endless goodness. His last decisions were to hire 3000 citizens, May God have mercy on him, put him in peace, and inspire his family and relatives patience and solace. Amen.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, mourned the deceased, and His Highness said in a tweet on Twitter, yesterday: "Today we bid farewell to a precious Emirati stature, and a man who spent his life serving his country and his family. May God have mercy on Majid Al Futtaim, and grant him peace." May he rest in peace.”
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, also mourned the late, and His Highness said in a tweet on Twitter: "Our condolences to the Al Futtaim family on the death of Majid Al Futtaim.
We ask God to bless him with his vast mercy, and to dwell in his vast gardens.
The late, his works and achievements accompanied the growth process of the economy of the UAE and Dubai during the past decades, and future generations will remember him for the economic and societal achievements he left over these years.”
bus rally
Majid Al Futtaim is considered one of the most important entrepreneurs who witnessed the renaissance of the United Arab Emirates.
Majid Al Futtaim grew up in a merchant family, where his father, Muhammad, and his uncle, Hamad, worked in the trade of wood, fabrics and pearls.
Majid Al Futtaim is one of the prominent pioneers in the shopping sector, and he introduced new and innovative concepts to the sector that changed the concepts of shopping in the country and the markets of the Middle East region. He is the founder of Majid Al Futtaim Group, which specializes in the development and management of shopping malls, integrated cities, retail and entertainment facilities in the Middle East, Africa and Asia, in 1992. Majid Al Futtaim worked to change the concept of shopping and entertainment to achieve “happiest moments for everyone, every day.” ». The features of that vision began to be embodied through many modern and innovative shopping centers, which were opened first in the United Arab Emirates, and then expanded through 17 markets in the world, employing more than 43,000 employees.
Today, Majid Al Futtaim owns and operates 27 shopping malls, 13 hotels, and four integrated city projects, in addition to many projects under construction.
Majid Al Futtaim's shopping malls include Mall of the Emirates, Mall of Egypt, City Center malls, and My City Center community shopping centers, in addition to five shopping malls in partnership with the Sharjah government.
The company also has the privilege of exclusive use of the "Carrefour" name in more than 30 markets in the Middle East, Africa and Asia.
Majid Al Futtaim operates more than 350 stores, in addition to the online store.
Forbes Middle East ranked him third among the list of the richest Arabs for the year 2021.
Majid Al Futtaim is one of the main drivers of economic growth in the Middle East and North Africa, and is one of the most prominent direct investment companies that play a pivotal role in advancing the region's economy.
The leading shopping malls, integrated communities, retail and leisure company in the Middle East, Africa and Asia is also the highest rated company in the GCC, as the company has maintained a BBB credit rating for seven consecutive years.
Majid Al Futtaim continues its efforts to support all partners, including government agencies in the markets in which they operate, by striving to achieve full economic recovery and sustainable economic development, while maintaining a disciplined approach to financial management.
The company succeeded, despite the repercussions of the “Corona” virus, in achieving outstanding operational and financial results for the first six months of 2021. The group recorded revenues of 15.6 billion dirhams, and profits before interest, taxes, depreciation and amortization reached 1.6 billion dirhams, an increase of 2%, and a net Profit after tax is 662 million dirhams, with a slight increase in the total value of assets, mainly due to the relative stability in the market, which led to the stability of the value of assets.
Emiratisation Program
In an effort to implement the Emiratisation program and attract national cadres, Majid Al Futtaim announced its intention to expand the scope of its program to develop and attract Emirati talent, with the aim of providing more professional opportunities for citizens of the country across its multiple sectors in the UAE and abroad.
The company will create and develop 3,000 new job opportunities for Emirati citizens wishing to build their career path in the private sector, during the next five years, with the aim of overcoming obstacles and motivating more citizens of the country to work in the private sector.
The Emirati workforce currently in Majid Al Futtaim represents about 3% of the total 13,700 employees affiliated with it in the UAE, in line with the plans and programs of Emiratisation in the UAE, and enhances the company's leadership in its endeavors to implement the objectives of the Nafes program during the next five years. .
During the first six months of 2021, Majid Al Futtaim Properties achieved a 6% increase in revenue, which reached 1.6 billion dirhams, with an increase in earnings before interest, taxes, depreciation and amortization to 1.1 billion dirhams, an increase of 6%.
22 Carrefour stores
While Majid Al Futtaim Retail achieved in the first half of this year, revenues amounted to 13.2 billion dirhams.
The company opened 22 new Carrefour stores and two hypermarkets in eight countries.
Its additional investments included online fulfillment centers "Dark Store", and expansion of its delivery and logistics capabilities.
The number of online orders increased by 50%, while online sales increased by 25%, and transactions through the loyalty application "Share", affiliated to Majid Al Futtaim Company, witnessed an increase of 27%.
Hotel revenue remained flat compared to last year at AED 147 million, with a 16% increase in occupancy rates of 53%.
Majid Al Futtaim Retail will continue its expansion in the markets of Egypt, Saudi Arabia, Kenya, Uganda and Uzbekistan. The company will also continue its investments and expand its e-commerce capabilities to meet the increasing demands of online customers across the region.
Deputy Head of State:
• “May God have mercy on our brother Majid Al Futtaim, the creative businessman, and one of Dubai’s most important merchants and senior men.”
Hamdan bin Mohammed:
• “We bid farewell to a precious Emirati stature, and a man who spent his life serving his country and his people.”
Maktoum bin Mohammed:
• "Majid Al Futtaim's works and achievements accompanied the growth process of the UAE and Dubai's economy, and future generations will remember him."
• «Majid Al Futtaim» creates 3000 new job opportunities for citizens.
• «Majid Al Futtaim» owns and operates 27 shopping malls, 13 hotels and 4 integrated city projects.
• The company has expanded across 17 markets in the world, and employs more than 43,000 employees.
Follow our latest local and sports news and the latest political and economic developments via Google news