Majid Al Futtaim .. The model of a dreamer and responsible businessman

Dubai: Hamdi Saad

The Emirati businessman, Majid Al Futtaim, passed away on December 17, 2021 at the age of 86, leaving a great legacy and lessons for every entrepreneur and dreamy investor in the UAE and the region in general.

make people happy

Majid Al Futtaim’s dream was “to achieve the happiest moments for all people every day.” Through the Majid Al Futtaim group of companies, the businessman made his dream come true by building a high-profile professional institution that turned into a model for developing family businesses. .

He was a dreamy man in every sense of the word, daring and daring and wanted to provide the best for his community and for those who live, work and enjoy the places and spaces that bear his name.

Today, the Majid Al Futtaim brand is a legacy that represents the company’s founder’s culture, legacy and vision for the future, and since its inception as an independent company in 1992, to this day, it has been a symbol of the family business that is open to investment. , excellence and leadership with standards of innovation and excellence.

Investor not trader

Majid Al Futtaim, the ambitious young man, was not convinced by the career work, nor by the traditional trade he inherited from his father. He quickly left the job at the Bank of Oman (later Mashreq Bank) and he did not want to work with his father Muhammad and his uncle Hamad in the timber, textile and pearl trade, so he wanted to join. In new areas of work, such as the car trade, which began to flourish in the 1950s, he acquired a Toyota vehicle agency. , and began his work with successive successes that attracted those around him, as well as the consideration of the late Sheikh Rashid bin Saeed Al Maktoum, may God rest his soul, who chose him within a delegation representing Dubai In the Federal National Council, however, entrepreneurship at Majid Al Futtaim was the passion that drives the young man who strives for other successes.

Early on, Majid Al Futtaim turned to the retail sector, and to get a good deal, he bought a few shares in the French company Carrefour, then got the best contract that Carrefour had signed with any company outside France, and established a Carrefour chain. stores in the Gulf, the region and even Asia, and the long-term investment path began, through the “City Center” shopping center chain.

From here, Majid Al Futtaim launched his own group, which deals with real estate development, retail and entertainment projects.

investment opportunities

Majid Al Futtaim has left an honorable and great economic legacy in the UAE, Dubai and the world, which will be immortalized in history with letters of light to revive his long achievements in the world of business and finance, which contributed greatly to the economic map of Dubai over the past three decades, and a major contributor to the creation of investment opportunities that have played a major role in providing hundreds of thousands of jobs.

Majid Al Futtaim was known for his patriotic sense, which he expressed best in the field of employment of Emirati citizens, and his latest initiative in this field is his significant contribution to the achievement of the objectives of the Nafees program which by the UAE government in partnership with private sector institutions to enhance its contribution to supporting Emiratisation programs and the country’s strategic agenda.

By believing in the importance of motivating more UAE citizens to work in the private sector, and emphasizing its commitment to implementing the terms of the initiative, which the company announced during September 2021, it aims to 3 000 to create new jobs over the next five years. Emirates who want to build their careers in the private sector. .

On that day, His Highness Sheikh Mohammed bin Rashid instructed the government to give the Majid Al Futtaim group priority and preference in government contracts, and expressed his gratitude to Majid Al Futtaim. His Highness said: “Brother Majid Al Futtaim has announced the provision of 3,000 jobs. to citizens, for which we thank and appreciate. There are partner companies in the home country and companies that only want to take out of the home country, and we have ordered the government that Majid Al Futtaim companies have priority and priority in government contracts. ”

Wealth and responsibility

Majid Al Futtaim enjoyed a far-sighted economic mentality, which led him to establish large economic entities inside and outside the UAE that are referred to as the most illustrative, in terms of the large investments and the size of the projects that the future provides and contributes to the development of residential areas and revives dozens of parallel sectors in dozens of locations in the UAE and abroad.

The name of Majid Al Futtaim is associated with many commercial and investment projects that have made him a prominent place as one of the rich people in the world and the region, while the history of the UAE economy will remember him as the biggest contributor to changing the concept of the retail and shopping sector in the UAE and the region, through a series of multi-size shopping malls and entertainment centers spread throughout the scientific community.

The Majid Al Futtaim company’s name has become prominent in the development and management of shopping malls, integrated cities, retail and entertainment facilities in the region, Africa and Central Asia, where Majid Al Futtaim was established as an independent group under the leadership of Majid Al Futtaim in 1992.

Forbes magazine placed Majid Al Futtaim in third place among the list of Arab billionaires for the year 2021, with a fortune of $ 3.6 billion, which did not prevent its owner from being a model for a responsible businessman towards society, and this is what made the Majid Al Futtaim group one of the companies to be a leader in sustainability.

Majid Al Futtaim contributed to drawing the success story of the group, which employs 43,000 employees of dozens of nationalities, according to a vision embodied by many modern and innovative shopping centers starting from the UAE, and then expanding through 17 markets has, including: Egypt, Saudi Arabia, Oman, Bahrain, Kuwait and Qatar Jordan, Lebanon, Iraq, Pakistan, Armenia and Georgia.

Today, Majid Al Futtaim Group owns and operates 28 shopping malls and 13 hotels, the most important of which is the Kempinski Mall of the Emirates in Dubai, and 4 integrated urban projects, as well as many projects under construction, including affiliated shopping malls, “Mall of the Emirates”, ” Mall of Egypt “, and” Mall of Egypt “and” Mall of Egypt “shopping malls. City center, community centers “My City Center”, and 5 shopping centers in partnership with the government of Sharjah.

retail

The Majid Al Futtaim Group enjoys the exclusive use of the “Carrefour” name in more than 30 markets in the region, Africa and Asia, and the number of “Carrefour” stores has reached 300, while the geographical expansion to 16 countries continues . with the entry of the Ugandan market.

It also operates 350 brands, VOX Cinemas and international entertainment centers, including Magic Planet, Ski Dubai, iFly Dubai, Dreamscape, Ski Egypt, and others.

diversification policy

Majid Al Futtaim Group is the parent company of a company specializing in fashion, retail, home furniture and interior decor, and operates some of the most prominent names and brands in the fashion and home world. Majid Al Futtaim also operates the facility management company Innova through a joint venture with Veolia, a world leader in environmental resource management.

Majid Al Futtaim has acquired a prominent global interest, and his concepts in the retail sector have shifted to the region and contributed to the development of urban communities inside and outside the Emirates, and he has many charitable activities. Majid Al Futtaim Group is the parent company of a number of leading businesses, as it is a finance company specializing in the issuance of a number of consumer credit cards such as “Najm” and “Voyager”. The group is also the parent company of a healthcare business unit that includes the City Center Clinic network.

The group owns the rights to dozens of international stores, including “Lego” and “American Girl” in the Middle East, and it also operates in the food and beverage sector through an exceptional partnership with Gourmet Gulf.

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