{"id":21059,"date":"2023-02-03T08:03:45","date_gmt":"2023-02-03T08:03:45","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=21059"},"modified":"2023-02-03T08:53:59","modified_gmt":"2023-02-03T08:53:59","slug":"majid-al-futtaim-through-the-years","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2023\/02\/03\/majid-al-futtaim-through-the-years\/","title":{"rendered":"Majid Al Futtaim through the years"},"content":{"rendered":"
Starting with his first mall in 1995, Mr Futtaim brought the western-style consumer experience to the Arabian Gulf, opening the Mall of the Emirates a decade later, at the height of the Gulf region\u2019s economic boom.<\/span><\/p>\n ME Retai News<\/em> takes a look back at his extraordinary life.<\/p>\n Born in 1934 into a business-oriented family, Emirati businessman Majid Al Futtaim launched a company under his own name, called Majid Al Futtaim Holding.<\/span><\/p>\n He founded the business in 1992, with a focus on retail.\u00a0<\/span><\/p>\n Three years later, in 1995, the Majid Al Futtaim<\/a> group signed an exclusive partnership with French multinational retail and wholesaling corporation Carrefour. The deal would see Carrefour supermarkets run by the MAF group in the region and housed in MAF City Centre shopping malls.\u00a0<\/span><\/p>\n A new concept for the Mena consumer The Deira City Centre was MAF\u2019s flagship mall. It had international brands, dining outlets, and entertainment facilities. It was a major success, and established Majid Al Futtaim as a leader in the retail industry in the Middle East. Currently, more than 22 million people visit the mall each year.\u00a0<\/span><\/p>\n This also ushered in a change to how retail was perceived. Shopping was now a family activity.<\/span><\/p>\n In the UAE, the company operates Mall of the Emirates, apart from eight City Centres. In other emirates, the group runs smaller malls called My City Centre. In other neighbourhoods, the company also runs Matajers, which house a small Carrefour and dining options. The \u2018My City Centre\u2019 and \u2018Matajer\u2019 are part of MAF\u2019s neighbourhood retail concepts which first came to Sharjah in 2017.\u00a0<\/span><\/p>\n Including its overseas malls, Majid Al Futtaim Holding boasts one million square metres as gross leasable area, with more than 3,000 retailers. These 29 malls together receive more than 178 million annual visitors.\u00a0<\/span><\/p>\n Apart from the Mall of the Emirates and the Deira City Centre, MAF also runs malls like the Mirdif City Centre and Mercato Shopping Mall in Dubai, along with two City Centres in Sharjah.<\/span><\/p>\n A diversified portfolio
\nMajid Al Futtaim is synonymous with retail in the UAE. <\/span><\/p>\n
\n<\/strong>That same year, MAF launched its first City Centre in Deira, home to the UAE’s first Carrefour and children\u2019s entertainment zone, Magic Planet.\u00a0<\/span><\/p>\n
\n<\/strong>Over the years, MAF has established itself not only as a retail giant, but also as an entertainment hub. In 2000, MAF launched Vox Cinemas, which was the UAE\u2019s first multiplex cinema.\u00a0<\/span><\/p>\n