Compared to 2021 figures, Majid Al Futtaim – Properties’ revenue rose 51% to AED 2.4 billion, while EBITDA was up 27% to AED 1.4 billion.
New community launches in Tilal Al Ghaf remain well-received by the market. The Alaya Beach project and Elysian Mansions, consisting of ultra-exclusive mansions and grand villas, were released in February and May, respectively, and recorded sales of over AED 2.4 billion, with 181 units sold by 30 June.
In its pursuit of being economically resilient during the second half of 2022, Majid Al Futtaim will continue to support sustainable economic development while adhering to a prudent financial management strategy. Majid Al Futtaim is wholly committed to the markets in which it operates, working to deliver exceptional experience not just for its customers but tenants, employees and its key stakeholders. The business will also look at investing on corporate initiatives including digital transformation, data and analytics, customer experience and loyalty programmes.
Majid Futtaim Properties continues to make progress on its pipeline development projects, including Mall of the Emirates redevelopment and Mall of Saudi.
Alain Bejjani: “A strong, customer-focused strategy supported by unrivalled data and analytics capabilities has enabled Majid Al Futtaim to deliver sustained growth through H1 2022. Our efforts have been further amplified by MENA’s steady progress in moving beyond post-pandemic recovery as we collectively turn our efforts toward economic expansion and regional prosperity.”
Power Hour 2022: Alain Bejjani, Chief Executive Officer of Majid Al Futtaim – Holding , Ranks 24th
