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Majid Al Futtaim death & cause of death – Dubai Emirati businessman dies | age | biography | wiki

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Emirati businessman Majid Al Futtaim is dead

The reports of his passing were made known through a Twitter post shared on Friday evening by Hussain Sajwani.

“Dubai Crown Prince HH Sheikh Hamdan mourns the loss of Emirati businessman Majid Al Futtaim.”

Dubai Crown Prince HH Sheikh Hamdan mourns the loss of Emirati businessman Majid Al Futtaim.”

In his report, Hassan said that his country Dubai will never forget Majid Al Futtaim efforts in building up our private sector, retail businesses, and Tourism ecosystem in the emirate.

“Dubai will never forget Majid Al Futtaim and his efforts in building up our private sector, retail businesses, and Tourism ecosystem in the emirate.”

 

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Tributes and Condolences floods

His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai paid tribute to the Futtaim on Twitter, hailing him as “one of Dubai’s most important” business leaders.

Al Futtaim’s death was announced on Friday.

Sheikh Mohammed noted that one of Al Futtaim’s most significant announcements was his decision to hire 3,000 Emiratis over the next five years.

Mazen Hayek the advisor to CEOs in Tech and Media shares his sincere condolence to his family in an emotional Twitter post.

“What sad news! What a loss! Majid Al Futtaim was a business icon and an exceptional man, by all means.

May God rest his soul and soothe everyone’s grief @MajidAlFuttaim Sincere condolences to the #UAE, #Dubai and the #MAF team/family.”

Brief Bio Of Majid Al Futtaim

The billionaire Majid Al Futtaim was an Emirati businessman, He founded and owned one of the Majid Al Futtaim Group, an Emirati real estate and retail conglomerate, with projects in Asia and Africa.

Majid is the cousin of fellow billionaire Abdulla Al Futtaim, the head of the Al-Futtaim Group, from whom he is estranged.

Majid Al Futtaim founded retailing and entertainment giant Majid Al Futtaim Holding, known as MAF, in 1992.

He owns and operates 13 hotels and 26 malls, including Mall of the Emirates in Dubai and the Mall of Egypt in Cairo.

It also has the exclusive license to operate hypermarkets for French company Carrefour across the Middle East, North Africa and Central Asia.

His son Tariq sits on the board while non-family members manage the conglomerate, which publishes its revenues and profits annually.

The group had $9.4 billion in revenue in 2018 but registered a small loss because of a market downturn.

About His Company Majid Al Futtaim Group

The company Majid Al Futtaim Group is an Emirati holding company based in Dubai, that as of 2015 owned and operated shopping malls, retail, and leisure establishments in the Middle East and North Africa, with operations in 13 countries.

The group was established by Majid Al Futtaim in 1992. Majid Al Futtaim manages three major operating subsidiaries: Majid Al Futtaim Properties, Majid Al Futtaim Retail, and Majid Al Futtaim Ventures.

As of 2015, the holding company worked in 13 countries: UAE, Lebanon, Egypt, Saudi Arabia, Oman, Bahrain, Kuwait, Qatar, Jordan, Pakistan, Iraq, Armenia, and Georgia.

In 2016, the group has $10.6 billion in revenues and $760 million in profits.

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