Top UAE Businessman Majid Al Futtaim Passes Away

By
Alvin Thomas
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Majid Al Futtaim, one of the leading Emirati tycoons in the GCC and across the Middle East, passed away on Friday [December 17].

News of his demise was announced today via a statement on the company’s Twitter page.

Majid Al Futtaim was born in the Emirate of Dubai in the United Arab Emirates in the 1930s to a family with deep roots in business. He founded Majid Al Futtaim Group in 1992, a real estate and retail conglomerate with projects all across the Middle East and African markets.

His stronghold in Oman is evident too, with malls spanning from Sur to Seeb and other notable investments in real estate projects. The late Sultan Qaboos (May His Soul Rest In Peace) had bestowed upon him the Royal Order of Commendation, First Class, in December 2018.

The group has three major operating subsidiaries: Majid Al Futtaim Properties, Majid Al Futtaim Retail, and Majid Al Futtaim Ventures.

At the time of his demise, his net worth was reportedly US$3.6bn (as per Forbes), and was among the world’s top 10 richest Arabs.

His quote, “My dream is to create great moments for everyone, every day,” rings through as the GCC collectively mourns his death.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai, mourned the death of Majid Al Futtaim in his Tweet.

He wrote: “May Allah Almighty bestow his mercy upon our brother, Majid Al Futtaim, a creative businessperson, and one of Dubai’s most important senior businessmen. Majid Al Futtaim, a man of endless goodness, who never stopped giving back to his nation, recently employed 3,000 Emiratis. May his soul rest in peace”.

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