The majority of business representatives in the UAE have definitely heard about the Al Futtaim Group industrial investment company. It came to prominence as a distributor of Lexus, Toyota, Toshiba, IBM, Alcatel and other brands.
The history of the Al Futtaim Group family conglomerate traces its origins to the 1930. It has gained its present form after being shared by two brothers Magedom and Abdullah Al Futtaim according to the certain areas of activities. Abdullah manages the Al Futtaim Group and Majid Al Futtaim carries on trading business. He owns one of the largest and well-known companies in the Emirates – Majid Al Futtaim Group, and is on the list of the most influential people in the world with wealth exceeding the billion mark.
Among the projects of the Majid Al Futtaim Group there is the world famous Mall of the Emirates with the Ski Dubai Slope (the third largest indoor snow resort). The company also owns the vast Midfir City Centre trade area.
The main areas of activities of the Al Futtaim Group include real estate, automotive industry, insurance, industry, retail and electronics. It is a representative of such famous brands as Panasonic, Hertz, IKEA, Kolber, IBM, Toshiba, Alcatel, Chrysler, Lexus, Honda and Toyota.
Over the past few years the regional representative has developed into a major international company. The Al Futtaim Group produces 15% of the Dubai GDP. Its representative offices are located in almost 30 countries of Asia, Europe, Africa and the Middle East. 65 companies, which represent different market sectors (the number of employees is around 44 thousand people), operate under the direction of the Al Futtaim Group.
The Al Futtaim Group has successfully passed through the global economic crisis owing to the market reorientation and development of new branches. Today the company plans to invest into more than 40 projects. Among them there are transactions on the Morocco real estate market, Saudi Arabia construction equipment market, East Africa automotive sector, and etc.
The Al Futtaim Group also plans to construct the large-scale resort in Syria (the overall cost $1 billion) and the largest in Saudi Arabia Al Diriyah Festival City shopping mall. In addition, the company owns a numerous communication systems shops, projectors, copiers and computers. Besides, the Al Futtaim Group owns the Aftron electronics brand.
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