Majid Al Futtaim is the brother of billionaire Abdulla Al Futtaim. Non-family members run his eponymous holding company, which operates malls, including Mall of the Emirates (with an indoor ski slope) and Carrefour hypermarkets across the Middle East, North Africa and Central Asia. Michael Rake, the chairman of British telecom company BT Group, is chairman. Son Tareq is a non-executive board member. Futtaim plans to open the Mall of Egypt in 2016. Although privately held, the company is among the most transparent conglomerates in the U.A.E, publishing its revenues and net profit annually.
Abdulla Al Futtaim owns conglomerate Al Futtaim Group, which is run by his son Omar. It is the exclusive distributor of Toyota and Honda vehicles in the United Arab Emirates, and sells Toyotas in Egypt. In addition to its automotive business, Al Futtaim owns the franchises for Ikea, Toys "R" Us, and Marks & Spencer, which anchor its real estate developments, including Dubai Festival City and Cairo Festival City. Al Futtaim is the brother of Majid Al Futtaim, also a billionaire.
Posts
No comments:
Post a Comment