São Paulo – Emirati billionaire Majid Al Futtaim died on Friday (17). The businessman created an eponymous business empire that included a franchisee of the hypermarket chain Carrefour in the Middle East and malls like the Mall of the Emirates, a major attraction in Dubai which is known across the world for its indoor ski slope.
Al Futtaim founded the Majid Al Futtaim group in 1992 and is known as one of the pioneering businesspeople that led the development of the emirate from the 1960s onwards to become a global city. The businessman is one of the Gulf’s biggest employers with tens of thousands of staff on the books of his various establishments.
The group expanded across the Middle East and the world, with malls and other ventures. The firm is now the exclusive franchise holder for Carrefour, the world’s second largest hypermarket chain, and runs over 300 Carrefour-branded supermarkets and hypermarkets across Africa, Asia and the Middle East. Majid Al Futtaim develops, owns and manages at least 27 shopping malls; while also it owns numerous hotels operated by Sheraton, Kempinski, Aloft and Pullman. Vox Cinemas is also a Majid Al Futtaim brand.
The construction of the Mall of the Emirates – with its striking indoor ski slope – is among his most notable projects. “My dream is to create great moments for everyone, every day,” said Al Futtaim.
Forbes estimates Al Futtaim’s net worth as over USD 4 billion.
Neither the cause behind his death nor his age were announced. However, prayers for him and his family had circulated on social media in recent days.
Dubai ruler Mohammed Al Maktoum praised him in a social media post as one of the country’s most important merchants.
Translated by Guilherme Miranda
