Majid Al Futtaim Properties is one of MENA’s leading diversified property companies with operations across shopping malls, hotels and mixed-use communities.
The Shopping Malls Business Unit, an industry leader, owns, manages and develops mall destinations that provide memorable shopping, entertainment and social experiences for its customers. Majid Al Futtaim Properties has pioneered the regional face of retail, leisure and entertainment, since the launch of its first mall, Deira City Centre in 1995. The company’s mall portfolio includes 17 shopping centres across UAE, Bahrain, Oman, Egypt and Lebanon with a combined gross leasable area (GLA) of over 1 million sqm, more than 2,800 tenants and an increasing footfall of over 160 million visitors in 2013.
The Hotel Business Unit develops and manages hotels and branded serviced apartments that are synergistic with the company’s malls. Majid Al Futtaim owns nine hotels in the UAE and two in Bahrain. Their strategic proximity to the malls contributes to welcoming over 1.2 million guests annually.
The Communities Business Unit develops quality mixed-use projects anchored by residential housing. Majid Al Futtaim currently has three communities under development. The Wave, a joint venture with the government of Oman to develop Muscat’s largest ocean-front integrated community; Al Zahia, a joint venture with the Government of Sharjah, to build the Emirate’s first gated residential community with a regional mall in a prime growth corridor; The 250,000 sqm Waterfront City development in Beirut, Lebanon, a joint venture with Société Joseph Khoury & Fils Holding SAL to build Beirut’s premier mixed used community with one of the largest marinas in the Mediterranean.
Majid Al Futtaim Properties is recognised as a sustainability leader in the MENA region. According to the 2013 Global Real Estate Sustainability Benchmark (GRESB) survey, the company ranks No. 1 in MENA, second in the Asia-Pacific region and in the top 133 property businesses worldwide. In 2013, Majid Al Futtaim launched its new five-year sustainability strategy with the vision to enhance people’s lives through sustainable real estate. This commitment is reflected in Majid Al Futtaim Properties’ pioneering standards, prosperous communities and high performance assets.