- Category:
- Richest Business › Richest Billionaires
- Net Worth:
- $7 Billion
What is Majid Al Futtaim's Net Worth?
Majid Al Futtaim is an Arab real estate developer and billionaire who has a net worth of $7 billion. Majid Al Futtaim is the brother of billionaire Abdulla Al Futtaim, who is running the automobile business retail sector of the family conglomerate Al Futtaim Group. After the family split its business interests in 2000, Majid Al Futtaim took in his possession the property development business, which is nowadays known as Majid Al Futtaim Group. Headquartered in Dubai, Majid's group develops shopping malls across the MENA region.
The group's flagship enterprise is the Mall of the Emirates, while the mall that was opened in September 2005, has as its anchor tenant the biggest Carrefour hypermarket in Dubai. The signature operating arm of the group is Majid Al Futtaim Properties, which is running eleven shopping malls in the UAE, Egypt, Oman and Bahrain. A new mall is supposed to be finished in 2013, another in 2014, and one in 2015. Furthermore, the group currently manages 11 hotels including Pullman and Kempinski hotels, both of which are adjacent to the Mall of the Emirates.
