Majid Al Futtaim Net Worth
Majid Al Futtaim Net Worth: Majid Al Futtaim is an Arab real estate developer and billionaire with a net worth of $7 billion. Majid Al Futtaim is the brother of billionaire Abdulla Al Futtaim, who oversees the retail arm of the auto business of the family conglomerate Al Futtaim Group. After the family split its business interests in 2000, Majid Al Futtaim took over his property development business, now Majid Al Futtaim Group.
Headquartered in Dubai, Majid’s group develops shopping malls in the MENA region. The group’s flagship enterprise is the Mall of the Emirates, which opened in September 2005 and its main tenant is Dubai’s largest Carrefour supermarket. The group’s signature operating arm is Majid Al Futtaim Properties, which operates 11 shopping malls in the UAE, Egypt, Oman and Bahrain. A new mall is expected to be completed in 2013, another in 2014 and one in 2015. In addition, the group currently manages 11 hotels, including Pullman and Kempinski, both adjacent to the Mall of the Emirates.
