Majid Al Futtaim Holding (ماجد الفطيم) is part of a Dubai, United Arab Emirates based conglomerate owned by Majid Al Futtaim, a real estate developer and billionaire. As of March 2013, his net worth was estimated by Forbes to be $3.6 billion, making him the 376th richest person in the world and the richest in UAE.
The group develops shopping malls throughout the MENA region. Headquartered in Dubai in the United Arab Emirates (UAE), the group's flagship enterprise is the Mall of the Emirates comprising 223,000 square metres of shopping space hosting 520 international retail brands, including department stores, fashion boutiques, lifestyle shops, sports centres, electronics and home furnishing outlets, a Magic Planet family entertainment area, a 14-screen multiplex cinema, and the world-famous indoor-ski slopes known as Ski Dubai. The mall, which opened in September 2005, has as its anchor tenant the biggest Carrefour hypermarket in Dubai. A joint venture between Majid Al Futtaim Group (75%) and Carrefour (25%) is developing a chain of the international chain's hypermarkets across the MENA and Central Asia regions. Majid Al Futtaim Properties is the signature operating arm of the group, operating eleven shopping malls in the UAE, Egypt, Oman and Bahrain. A new mall is expected to be completed in 2013, another in 2014, and one in 2015. As at December 31 2011, MAF Properties controlled nearly one million square metres of leasable retail space (943,471 square meters to be exact), and attracted 136 million customers. Additionally MAF Properties has embarked on a plan to add four and five star hotels adjacent to the shopping malls it develops and operates. The group now operates 11 hotels including Pullman and Kempinski hotels, both adjacent to the Mall of the Emirates.
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“Even in harmonious families there is this double life: the group life, which is the one we can observe in our neighbour’s household, and, underneath, another—secret and passionate and intense—which is the real life that stamps the faces and gives character to the voices of our friends. Always in his mind each member of these social units is escaping, running away, trying to break the net which circumstances and his own affections have woven about him.”
—Willa Cather (1873–1947)