{"id":3305,"date":"2016-02-01T20:22:17","date_gmt":"2016-02-01T13:22:17","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=3305"},"modified":"2016-02-01T17:43:00","modified_gmt":"2016-02-01T10:43:00","slug":"properties-porfolio-drives-majid-al-futtaim-profit-as-it-eyes-african-expansion","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/properties-porfolio-drives-majid-al-futtaim-profit-as-it-eyes-african-expansion\/","title":{"rendered":"Properties porfolio drives Majid Al Futtaim profit as it eyes African expansion"},"content":{"rendered":"


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\nMajid Al Futtaim (Maf) posted a 6 per cent increase in earnings last year as the Dubai-based conglomerate continued to invest in Dubai and boosted its interests in Oman and Egypt, it said yesterday.Earnings before interest, tax, depreciation and amortisation (Ebitda) rose to Dh3.8 billion last year from Dh3.6bn in 2014, Maf said. Revenue grew 8 per cent to Dh27.3bn last year from Dh25bn a year earlier.
\nThe conglomerate said last year it planned to double in size within five years as it boosts investments across the Arabian Gulf and Egypt.”Majid Al Futtaim’s 2015 financial performance has demonstrated the strength and resilience of our business against a backdrop of a regional economic slowdown,” said chief executive Alain Bejjani.Ebitda of its properties’ portfolio was the largest contributor to earnings, rising 9 per cent to Dh2.6bn last year. Its retail business recorded 2 per cent growth in Ebitda to Dh1.2bn as the company entered new markets and opened Carrefour supermarkets.
\nThe conglomerate, which operates Mall of the Emirates, plans to expand further in Africa, with a focus on eastern and southern nations. Maf, which has exclusive rights to the Carrefour supermarket franchise in 38 markets across the Middle East, Africa and Central Asia, plans to establish its first outlet in sub-Saharan Africa in Kenya this year.”With several large-scale developments currently in the pipeline in Saudi Arabia, Egypt, and Africa, we are well positioned to fully leverage the significant growth potential of the Middle East and North East Africa region,” said Mr Bejjani.
\nMaf is bullish about Egypt, having announced last year its plan to increase investment in the North African country to 22.5bn Egyptian pounds (Dh10.29bn) from 18bn pounds.As for its borrowings, the con\u00adglomerate said it has cash and available committed lines that will cover its net financing needs for the next two to three years.The group last year issued a US$500 million Islamic bond, or sukuk, to extend the maturity of its debt to five years.
\n“In line with our conservative approach, we continue to stay committed to proactively managing our future financing plans, and opportunistically op\u00adti\u00admising our debt portfolio depending on market conditions and always within the capacity of our credit rating,” said J\u00fcrgen Schulte-Laggenbeck, the Maf chief financial officer.dalsaadi@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Properties porfolio drives Majid Al Futtaim profit as it eyes African expansion<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Majid Al Futtaim (Maf) posted a 6 per cent increase in earnings last year...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-3305","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-Rj","jetpack-related-posts":[{"id":9022,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/majid-al-futtaim-properties-reports-healthy-profit-increase\/","url_meta":{"origin":3305,"position":0},"title":"Majid Al Futtaim Properties reports healthy profit increase","date":"March 24, 2016","format":false,"excerpt":"\r \r Majid Al Futtaim Properties, a unit of the Dubai-based diversified conglomerate Majid Al Futtaim, posted a 27 per cent increase in net profit last year thanks to net valuation gain on land and buildings, and lower finance costs.MAF Properties' net profit attributable to equity holders rose to Dh3.5\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24539,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mall-of-the-emirates-owner-majid-al-futtaim-turns-to-solar-power\/","url_meta":{"origin":3305,"position":1},"title":"Mall of the Emirates' owner Majid Al Futtaim turns to solar power","date":"August 31, 2016","format":false,"excerpt":"\r With what must be one of the biggest air-conditioning bills in the emirate, the company behind Dubai's indoor ski slope is going green.Majid Al Futtaim (MAF), the conglomerate that built Mall of the Emirates, aims to produce 5 per cent of its total energy in the next two years\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24541,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mall-of-the-emirates-owner-majid-al-futtaim-goes-green\/","url_meta":{"origin":3305,"position":2},"title":"Mall of the Emirates' owner Majid Al Futtaim goes green","date":"August 31, 2016","format":false,"excerpt":"\r With what must be one of the biggest air-conditioning bills in the emirate, the company behind Dubai's indoor ski slope is going green.Majid Al Futtaim (MAF), the conglomerate that built Mall of the Emirates, aims to produce 5 per cent of its total energy in the next two years\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25487,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/majid-al-futtaim-expands-into-egyptian-mixed-use-projects\/","url_meta":{"origin":3305,"position":3},"title":"Majid Al Futtaim expands into Egyptian mixed-use projects","date":"September 8, 2016","format":false,"excerpt":"\r Majid Al Futtaim plans to start mixed-use real estate development next year as it expands from its core retail activities.It is waiting to acquire land in the country, said Hawazen Esber, the chief executive of Majid Al Futtaim Communities, on the sidelines of Citiscape Global in Dubai.He declined to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25203,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/majid-al-futtaim-counts-on-lebanese-buyers-at-waterfront-city-project-in-beirut\/","url_meta":{"origin":3305,"position":4},"title":"Majid Al Futtaim counts on Lebanese buyers at Waterfront City project in Beirut","date":"September 6, 2016","format":false,"excerpt":"\r Majid Al Futtaim is banking on ebanese buyers for its mixed-use project in Lebanon as foreign investor appetite cools amid regional instability. The Dubai retailer and developer is jointly developing the Waterfront City Business Park in Beirut with the Lebanese contractor Soci\u00e9t\u00e9 Joseph G Khoury et Fils Holding. When\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":162219,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-shopping-majid-al-futtaim-announces-new-ghaf-woods-mall-in-4-2bn-community\/","url_meta":{"origin":3305,"position":5},"title":"Dubai shopping: Majid Al Futtaim announces new Ghaf Woods Mall, in $4.2bn community","date":"October 6, 2025","format":false,"excerpt":"\r Majid Al Futtaim unveils $4.2bn Ghaf Woods Mall in Dubai, the region\u2019s first forest-integrated retail destination combining luxury and design The post Dubai shopping: Majid Al Futtaim announces new Ghaf Woods Mall, in $4.2bn community appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/10\/Majid-Al-Futtaim-Ghaf-Woods-Mall-Dubai-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/3305"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=3305"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/3305\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=3305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=3305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=3305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}