Dubai’s MAF to Grow Property Business After Revenue Jump Bloomberg Pursuits

Dubai-based Majid Al Futtaim Holding LLC plans to grow its residential real estate business, driven by a boom in the city's housing market, Tourism, and Expo 2022 and FIFA World Cup in Qatar. $18 billion in assets makes MAF one of the UAE's biggest employers.

March 7, 2023 . 6:18 PM

1 min read

MAF plans to grow its residential real estate business due to a boom in the city’s housing market.
Revenue for the year jumped 12% to $9.88 billion and EBITDA rose 4% to $653 million.
MAF also benefited from Dubai’s Expo 2022 and the FIFA World Cup in Qatar.
MAF abruptly ousted Alain Bejjani as CEO in January without elaboration.
$18 billion in assets makes MAF one of the UAE’s biggest employers.