MAJID AL FUTTAIM

FOUNDER, MAJID AL FUTTAIM ORIGIN UAE RESIDENCE UAE SECTOR DIVERSIFIED 2016 RANK 34

One of the UAE’s richest businessmen with an estimated net worth of $11.8bn, Majid Al Futtaim heads the eponymous conglomerate that owns and operates 14 shopping malls across the UAE, as well as retail and leisure properties in 13 countries across MENA. New malls including City Centre Al Barsha generated headlines for the company last year, but it was its $8.1bn expansion plans for the UAE – announced in June – that caught people’s attention. The investment is due to be completed by 2026, with new malls, hotels, cinemas, restaurants, supermarkets and leisure destinations expected in the coming years.