Majid Al Futtaim CEO on $30 billion pipeline and plan to double value
Majid Al Futtaim Group CEO Ahmed Galal Ismail says the retail and real estate group sees a path to doubling its equity value over the next five to seven years despite regional conflict. He also outlines a nearly $30 billion development pipeline and expansion plans across the Middle East and East Africa.
Majid Al Futtaim is pressing ahead with major investment despite regional conflict disrupting tourism, travel and consumer spending across the Middle East.
The privately held group operates shopping malls, Carrefour supermarkets, VOX Cinemas, hotels, residential communities and digital retail businesses. Group CEO Ahmed Galal Ismail tells Dan Murphy the company is staying the course with a nearly $30 billion development pipeline while continuing to invest in technology and artificial intelligence.
Ismail also discusses the growth of Majid Al Futtaim’s digital businesses, continued investment in physical retail and expansion opportunities in Saudi Arabia, Egypt and East Africa. He says the group sees a path to doubling its equity value over the next five to seven years.
Watch the full interview on “Managing Middle East with Dan Murphy” in the video above.
