The position is responsible for working closely with the Senior Manger Leasing to market new properties and manage existing ones in order to maximize the leasing opportunities and meet the corporate revenue targets. During 2018, Majid Al Futtaim continued to pursue investment opportunities to enhance its digital capabilities and deliver a seamless omni-channel customer experience, while expanding its physical footprint. Majid Al Futtaim – Properties registered a drop of 26 percent in revenue for H1 to AED1.5bn as a result of the closure of shopping malls, alongside a decision from the company to forego rents during the periods of closure. Majid Al Futtaim also opened five physical stores and three new fulfilment centres during the first six months of the year. © 2021 Majid Al Futtaim. Please share your email address and tell us a bit about yourself to stay connected to opportunities and … Majid Al Futtaim is one of the leading drivers of economic growth and impact in the Middle East and North Africa and is a leading foreign direct investor and a catalyst for the region’s economy. Majid Al Futtaim operates more than 400 VOX Cinemas screens and 36 Magic Planet family entertainment centres across the region. During the second half of 2019, Majid Al Futtaim is set to continue the expansion of its core businesses, while delivering new experiences for customers across the region. Al-Futtaim Group employs over 44,000 people and operates eight divisions comprising automotive, electronics, insurance, services, real estate, retail, industries, and overseas. The Company is parent to the consumer finance company 'Najm', and a Fashion and Home retail business representing international brands such as Abercrombie & Fitch, AllSaints, lululemon athletica, Crate & Barrel and Maisons du Monde. 19-08-2020 Majid Al Futtaim, a shopping mall developer and retail and leisure pioneer in the region, has posted group revenue of AED17.3 billion ($4.7 billion) and EBITDA of AED1.6 billion for the first half of the year, representing declines of 3% and 27% respectively. The hotels business unit focuses on the development and asset management of hotels connected to or close to the company's shopping malls and within its master-planned communities. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, City Centre malls, My City Centre neighbourhood centres, and four community malls which are in joint venture with the Government of Sharjah. Majid Al Futtaim Group's revenue falls 3% YoY to $4.7bn in H1 2020 [representational image] by Anup Oommen. Majid Al Futtaim, a leading shopping mall, retail and leisure group, reported on Wednesday a seven per cent year-on-year jump in first-half revenue to Dh13.7 billion. Majid Al Futtaim Ventures: Majid Al Futtaim – Ventures, recorded an increase of 16% in both revenue and EBITDA, in the first six months of the year, with revenue standing at AED1.3 billion and EBITDA at AED137 million. These openings pave the way for the company to fulfil its ambitious plan to open 600 screens in the Kingdom by 2023. The group’s assets increased 7% to approximately AED64 billion, on account of the introduction of IFRS16. This website uses cookies to improve your experience and to personalise our content to you.By continuing to use this website you consent to the use of cookies. Majid Al Futtaim – Ventures recorded an 17% increase in revenue during 2019, rising to AED2.8 billion. According to Forbes, Al Futtaim has … During H1 2019, Majid Al Futtaim continued the expansion of its core businesses across the region with the addition of 19 new Carrefour stores, two new shopping malls, and 65 new VOX Cinemas screens. Majid Al Futtaim – Retail will continue to open new stores in existing markets, including the addition of 12 new Carrefour stores in Egypt by the end of 2019. What's On. Majid Al Futtaim Retail continues with the expansion of its network, both physically and digitally, leveraging on its strategic partnerships in the last mile delivery space to enhance the customer experience. Majid Al Futtaim Properties: Majid Al Futtaim Properties registered 1% revenue growth to end the year at AED 4.6 billion. Majid Al Futtaim – Properties: Majid Al Futtaim – Properties registered a decline of 26% in revenue and 27% in EBITDA in the first six months of 2020, standing at $408.3 million and $299.4 … The company celebrated the opening of two new shopping malls in the UAE and Oman, grew its hotel portfolio to 13 assets and added 33 grocery retail stores, growing its portfolio to 264. City Centre Almaza will soon open in East Cairo and is set to become one of the favoured destinations for shopping and entertainment, redefining the shopping landscape with a unique environment for visitors. The total number of screens under the VOX Cinemas-brand increased to 499 across the region. Majid Al Futtaim Ventures: Majid Al Futtaim Ventures’ revenue increased by 15% in 2018 to AED 2.4 billion (AED 3.2 billion including joint ventures and associates). Carrefour also introduced a number of innovative concepts and services across its network to ensure an effortless customer journey, including Scan and Go and Valet Trolley. Majid Al Futtaim deploys capital in a prudent and measured fashion to support the sustainable growth of the organisation, with a focus on geographic diversification in its core businesses. Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia. Majid Al Futtaim, a shopping mall developer and retail and leisure pioneer in the region, has posted group revenue of AED17.3 billion ($4.7 billion) and EBITDA of AED1.6 billion for the first half of the year, representing declines of 3% and 27% respectively. EBITDA increased by 1%, standing at AED2.1 billion, while the group’s increased focus on working capital management and operational excellence resulted in operating cashflow amounting to 115% of EBITDA. Majid Al Futtaim had said in August its shopping malls business saw a drop in first-half revenue. The group continued to invest in its people agenda with more than 115,000 hours of training delivered to its employees at the Majid Al Futtaim Leadership Institute. The company’s digital transformation saw greater online penetration through its Carrefour and VOX Cinemas brands during the first half of the year. In 2017, Majid Al Futtaim Properties reported a profit of 2.19 billion dirhams ($596.25 million), down 7% on 2016. Majid Al Futtaim’s financial results during H1 2019 were enabled by maintaining strong financial discipline across its portfolio. Net borrowings stand at around AED12.8 billion. Our focus on delivering a unique and innovative customer experience has enabled us to extend our customer base, while we have successfully optimised costs and created greater operating efficiencies. Published: February 24, 2020 10:25 Staff Report. While revenue was driven by new store openings in Egypt, in particular, EBITDA decreased by 1% to AED603 million compared to the same period in 2018. Majid Al Futtaim H1 revenue edges down to $4.7bn. Majid Al Futtaim records Dh35b 2019 revenue. Dubai, United Arab Emirates, 29 August 2019: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, today announced its audit reviewed operational and financial results for the first six months of the year. These positive ratings helped in creating widespread interest from investors when Majid Al Futtaim issued the world’s first benchmark corporate Green Sukuk. the launch of 49 new screens. The ratings. Majid Al Futtaim hotels experienced a decline in revenue per available room (RevPAR) due to current market conditions and reported average occupancy of 75%. Alain Bejjani, CEO of Majid Al Futtaim Holding . The Company also owns the rights to The LEGO Store and American Girl in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf. Dubai, United Arab Emirates, Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, today announced its preliminary and unaudited operational and financial results for 2018, with group revenue growing by 8% reaching AED 34.6 billion, while EBITDA increased by 9% year-on-year to AED 4.6 billion. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 15 international markets, employing more than 43,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region. The company continued to maintain a strong balance sheet with total assets valued at AED 60.4 billion and a net debt of around AED 12.6 billion. Majid Al Futtaim – Retail: In the first half of the year, the Carrefour business witnessed strong growth despite the prevailing conditions. Majid Al Futtaim Retail also launched Carrefour’s largest distribution centre in the region, located in Dubai. Majid Al Futtaim Properties, on the other hand, registered a decline of 26 per cent in revenue and a 27 per cent slide in Ebitda in the first six months of 2020, to Dh1.5bn and Dh1.1bn, respectively, the company said. VOX Cinemas continued its successful expansion across the region with 52 new screens added to reach 353, including in Egypt, Bahrain and Kuwait where the business strengthened its core presence. The Carrefour brand continues to cement its position as the largest grocery retailer in the region, increasing its market share by opening 33 new Carrefour hypermarkets and supermarkets during 2018, including the brand’s seventh store in Kenya. During this period, overall group revenue increased by 1% to AED. Company: Majid Al Futtaim. Alain Bejjani, Chief Executive Officer of Majid Al Futtaim - Holding, commented on the company’s financial results: “The strength and durability of our business has been a key factor in our financial performance for the first half of 2019, demonstrating the importance of geographic and business model diversification. UAE-headquartered retail developer and business conglomerate Majid Al Futtaim Group has reported a 3% year-on-year decline in revenues to $4.7bn (AED17.3bn) in H1 2020 and a 27% drop in EBITDA to $435.5m (AED1.6bn), compared to the first six months of 2019, due … During 2019, Majid Al Futtaim further expanded its offering across geographies, while enhancing its digital capabilities and investing in human capital. The company refinanced a USD 500 million bond that matured in July 2019 with the issuance of the world’s first benchmark corporate Green Sukuk, and the first Green Sukuk issued by a corporate in the region. Agree with Senior Manager Leasing on objectives. Integrated lifestyle giant Majid Al Futtaim, owner of brands such as VOX Cinemas and Mall of the Emirates announces its green strategy, a commitment to sustainable business and a circular economy . In its efforts to meet the evolving needs and demands of customers, while mitigating risk and ensuring sustainable growth, the company continues to diversify its business model and prioritise initiatives that support its long term strategic direction. Of the 600 screens committed to Saudi Arabia by 2023, Majid Al Futtaim has already opened 53. The group’s assets increased 7% to approximately AED64 billion, on account of the introduction of IFRS16. Carrefour enhanced its digital presence by offering an extensive range of groceries online, in addition to CarrefourNow which offers an express 1-hour delivery service. Majid Al Futtaim H1 revenue edges down to $4.7bn. The company’s shopping malls welcomed more than 100 million visitors in the first half of the year, while the total occupancy of shopping malls remained strong at 93%. EBITDA increased by 30% to AED416 million with growth driven mainly from new sites in Saudi Arabia, Kuwait and Egypt. The corporation promises that circularity will be at the heart of its business model by 2030 but insists moves have already started. Of the 600 screens committed to Saudi Arabia by 2023, Majid Al Futtaim has already opened 53. VOX Cinemas strengthened its market share in Saudi Arabia, driving forward its pioneering expansion in the Kingdom with. During the first six months, Carrefour more than doubled the total number of online transactions completed during full year 2018. Alain Bejjani, Chief Executive Officer of Majid Al Futtaim - Holding, commented on the company’s financial results: “The strength and durability of our business has been a key factor in our financial performance for the first half of 2019, demonstrating the importance of geographic and business model diversification. Majid Al Futtaim's revenue is the ranked 1st among it's top 10 competitors. Meanwhile, EBITDA spiked by 30% to $113.3m (AED416m) that was driven by growth across Saudi Arabia, Kuwait, and Egypt. Revenue EBITDA Majid Al Futtaim Holding LLC Consolidated Financials (USDmn) MAJID AL FUTTAIM HOLDING (Rated BBB/BBB) MAJID AL FUTTAIM PROPERTIES MAJID AL FUTTAIM RETAIL VENTURES Shopping Malls Hotels Communities Project Management Mr. Majid Al Futtaim (Founder) Mr. Tariq Al Futtaim MAJID AL FUTTAIM CAPITAL LLC Carrefour Cinemas L&E Finance Fashion Gourmet Gulf (JV) … Built on trade and tourism in a region reliant on oil, Dubai was hardest hit in the Gulf Arab region as both industries stumbled amid the pandemic. one of the favoured destinations for shopping and entertainment. Majid Al Futtaim Ventures: Majid Al Futtaim – Ventures, recorded an increase of 16% in both revenue and EBITDA, in the first six months of the year, with revenue standing at AED1.3 billion and EBITDA at AED137 million. The company remains fully committed to the markets in which it operates whist striving to bring the right product to market at the right time to deliver maximum value for customers and tenants. Majid Al Futtaim hotels reported an increase of 2% in their average occupancy rate, growing to 78%, although a decline in revenue per available room (RevPAR) was reported in line with wider market trends. In April 2018, VOX Cinemas opened its first multiplex theatre in Riyadh Park shopping mall in Saudi Arabia, following the reintroduction of cinemas in the Kingdom. Majid Al Futtaim – Ventures, recorded an increase of 16% in both revenue and EBITDA, in the first six months of the year, with revenue standing at AED1.3 billion and EBITDA at AED137 million. the opening of City Centre Suhar in Oman, and My City Centre Masdar in Abu Dhabi, which is the company’s first shopping mall in Abu Dhabi and the capital’s most sustainable mall. Majid Al Futtaim Retail: Majid Al Futtaim Retail generated strong revenue growth and finished the year at AED 28.0 billion, an 8% increase compared to 2017, driven by the addition of new stores. 59% of all ticket sales at VOX Cinemas were completed online, compared to 46% during the same period last year, while all tickets in Saudi Arabia were sold online in 2019. Want to be the first to hear about career opportunities at our pioneering company? City Centre Almaza will soon open in East Cairo and is set to become. Majid Al Futtaim – Properties registered a decline of 3% in revenue and 1% in EBITDA in the first six months of 2019, standing at AED2.1 billion and AED1.5 billion respectively. Bloomberg Markets and Finance published this video item, entitled “Majid Al Futtaim’s Bejjani Pledges Sustainability” – below is their description. VOX Cinemas, in its 20th year, increased its total number of screens to 499 across the region. The position is mainly responsible to maximize leasing revenue for the assigned area, ensuring implementation of best practices defined by the SMBU Corporate Leasing and managing key tenant relationships. Revenue from shopping malls increased by 3% and the growth was attributed to lease renewals at higher rates and the impact of opening Mall of Egypt. Majid Al Futtaim sees stark differences during first half. All rights reserved. In addition to new store openings, Carrefour also launched ‘Carrefour Business’, the company’s business-to-business offering to hotels, restaurants and the catering industry. Majid Al Futtaim’s shopping malls welcomed 192 million customers during the year, a 4% increase, as compared to 2017. The shopping mall portfolio grew to 25 destinations, with the opening of City Centre Suhar in Oman, and My City Centre Masdar in Abu Dhabi, which is the company’s first shopping mall in Abu Dhabi and the capital’s most sustainable mall. For more information, refer to our Privacy Policy. Built on trade and tourism in a region reliant on oil, Dubai was hardest hit in the Gulf Arab region as both industries stumbled amid the pandemic. Despite a reduction in discretionary spend and basket size, Majid Al Futtaim – Retail recorded flat revenue growth, standing at AED14.6 billion in the first six months of the year. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. Company: Majid Al Futtaim. Total shopping mall occupancy stood at 95%. Assist the Senior Manager Leasing in establishing Leasing Objectives. Majid Al Futtaim has 42,000 employees across 2 locations. The company improved its liquidity and maturity profile by refinancing USD1.6 billion of medium-term maturities while adding an additional USD900 million via syndicated facilities from regional and international banks. © 2021 Majid Al Futtaim. reiterate the company’s credit strengths, resilience of its business model, quality of assets, strong corporate governance and prudent financial management. Majid Al Futtaim has announced its preliminary and unaudited operational and financial Continue Reading For more information, refer to our Privacy Policy. Azadea was founded in 1978, and is headquartered in Beirut, Beirut Governorate. The Company is the exclusive franchisee for Carrefour in a number of markets across the Middle East, Africa and Asia, operating a portfolio of more than 280 outlets. Majid Al Futtaim – Retail: Despite a reduction in discretionary spend and basket size, Majid Al Futtaim – Retail recorded flat revenue growth, standing at AED14.6 billion in the first six months of the year. This website uses cookies to improve your experience and to personalise our content to you.By continuing to use this website you consent to the use of cookies. Majid Al Futtaim founded retailing and entertainment giant Majid Al Futtaim Holding, known as MAF, in 1992. The Carrefour brand strengthened its footprint with the opening of 7 hypermarkets and 12 supermarkets across the region. Majid Al Futtaim today released its preliminary and unaudited operational and financial results for 2018. The company’s credit rating has been maintained at ’BBB’ with a stable outlook by both Standard & Poor’s and Fitch Ratings in their most recent reports. Azadea is Majid Al Futtaim's biggest rival. The United Arab Emirates, of which Dubai is a part, had earlier this year shut malls and cinemas, Majid Al Futtaim’s main source of revenue. Fitch Ratings and Standard & Poor’s have reaffirmed the company’s credit rating at ‘BBB’ with a stable outlook, for a seventh consecutive year, reiterating its credit strengths such as the resilience of its business model, quality of assets, strong corporate governance and prudent financial management. Majid Al Futtaim Chief Executive Officer Alain Bejjani discusses the company’s pledge to sustainability. Majid Al Futtaim Properties celebrated the opening of My City Centre Al Dhait in Ras Al Khaimah, UAE, its first investment into the Emirate’s fast-growing community, and My City Centre Sur, Majid Al Futtaim’s first community mall in Oman. In March 2018, the company issued a USD400 million corporate hybrid to replace its inaugural hybrid issued in 2013, which was redeemed in October 2018. Revenues at Majid Al Futtaim – Ventures reached $762.3m (AED2.8bn) in 2019, with an increase of 17%. In line with the newly established Green Finance Framework, the issuance will support the company’s commitment to develop sustainable assets and practices. Majid Al Futtaim deploys capital in a prudent and measured fashion to support the sustainable growth of the organisation, with a focus on geographic diversification in its core businesses. Find Out More. Dubai-based retail giant Majid Al Futtaim on Wednesday said group revenue grew by 8 percent reaching AED34.6 billion ($9.42 billion) in 2018 compared to the previous year. 20 Aug 2020 . At a corporate level, UAE-based Majid Al Futtaim saw a fall in revenue of 3%, to AED17.3 bn (US$4.7 bn), and a 27% decrease in its EBITDA, to AED1.6 bn (US$435.5m), in the first half of its financial year. While revenue was driven by new store openings in Egypt, in particular, EBITDA decreased by 1% to AED603 million compared to the same period in 2018. Currently, five of Majid Al Futtaim shopping malls generate more than 2.900 GWh renewable energy from solar power, saving over 1700 metric tons of CO2 emissions a year - the equivalent of taking 371 cars off the road for one year, saving up to AED1.4 million on energy costs per year. The hotels side of the business also took a hit as a result of the closures and reduced demand due to travel restrictions, with occupancy down 41 percent. The United Arab Emirates, of which Dubai is a part, had earlier this year shut malls and cinemas, Majid Al Futtaim’s main source of revenue. On the sustainability front, the company continues to make headway towards its net positive commitment in carbon and water by 2040. In 2018, Majid Al Futtaim Retail made significant strides on its digital agenda. Overall group revenue increased by 1% to AED17.9 billion and EBITDA increased by 1%, standing at AED2.1 billion, - Increased group revenue by 1% year-on-year to AED17.9 billion- EBITDA increased by 1% to AED 2.1 billion- Maintained ‘BBB’ credit rating in latest reports from Standard & Poor’s and Fitch Ratings- Awarded ‘low risk’ Environmental, Social, and Governance (ESG) rating from Sustainalytics and ‘A’ rating from MSCI- Issued world’s first benchmark corporate Green Sukuk to fund sustainable projects across the group- Increased shopping mall assets to 25 with opening of City Centre Suhar, in Oman, and City Centre Masdar, in Abu Dhabi- Opened 19 new Carrefour stores with a strong focus on Egypt- Drove forward the pioneering expansion of VOX Cinemas in Saudi Arabia, with the launch of 49 new screens- Launched Majid Al Futtaim Retail Business School in the UAE to provide functional, commercial and on-the-job training for Carrefour employees. Revenue increased by 4% and totalled AED15.1 billion, while its EBITDA grew by 18% to AED709 million. Majid Al Futtaim’s sustainability agenda was further bolstered by a “low risk” environmental, social and governance (ESG) rating from Sustainalytics, and an ‘A’ rating from Morgan Stanley Capital International (MSCI). He is the owner and president of Majid Al Futtaim Group, which he founded in 1992 after splitting the Al Futtaim empire with his cousin. The company’s credit rating has been maintained at ’BBB’ with a stable outlook by both Standard & Poor’s and Fitch Ratings in their most recent reports. The top 10 competitors average 16,292. Majid Al Futtaim Properties develops, owns and manages shopping malls and hotels throughout the MENA region. Majid Al Futtaim Retail: Majid Al Futtaim Retail generated strong revenue growth and finished the year at AED 28.0 billion, an 8% increase compared to 2017, driven by the addition of new stores. In its results, its Retail division was a bright spot, with Majid Al Futtaim Retail reporting a rise in revenue and EBITDA. EBITDA increased by 16% to AED 1.4 billion, largely attributable to cost optimisation initiatives and higher sales in Egypt, Saudi, Kuwait and Kenya. Group revenue increased by 1% to AED17.9 bn, Dubai, United Arab Emirates, 29 August 2019, : Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, today announced its audit reviewed operational and financial results for the first six months of the year. The company remains fully committed to the markets in which it operates whist striving to bring the right product to market at the right time to deliver maximum value for customers and tenants. Majid Al Futtaim’s financial and liquidity position remains strong covering its net financing needs for more than the next three years, through its cash and available committed lines. Majid Al Futtaim – Retail will open its first Carrefour store in Uganda in H2 2019, providing Ugandan customers with access to international standard retail experiences. “While we continue to make essential investments in talent and technology, I am also encouraged by the progress we are making towards our sustainability agenda, which is allowing us to have a positive influence on the economies, communities and societies where we do business.”. Media Centre. In 2018, Majid Al Futtaim commissioned three additional solar power plants in Mall of the Emirates, City Centre Sur and City Centre Al Dhait. redefining the shopping landscape with a unique environment for visitors. The company also entered into an alliance with Image Nation Abu Dhabi and MBC Studios to launch a production partnership for film and TV projects. Despite the prevailing conditions Futtaim Retail reporting a rise in revenue during 2019, Al... 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