A special judicial committee has been set up to restructure the board Majid Al Futtaim Capital<\/p>\n\n\n\n
The Dubai-based conglomerate\u00a0Majid Al Futtaim (MAF) Holding\u00a0on Tuesday said the recent updates at its parent company \u201cdo not affect the operations or governance\u201d of the company.<\/p>\n\n\n\n
Le\u00a0Financial Times<\/em>\u00a0earlier reported that Dubai has set up a special judicial committee to restructure the board of the MAF parent company Majid Al Futtaim Capital for smooth succession after the death of the group\u2019s\u00a0founder Majid Al Futtaim.<\/p>\n\n\n\n \u201cRecent updates at our parent company, Majid Al Futtaim Capital, reflect a shareholder-led effort to evolve governance in line with the long-term interests of\u00a0the Group.\u00a0These changes do not affect the operations or governance of Majid Al Futtaim Holding. Majid Al Futtaim continues to operate under an independent board and strong oversight,\u201d the company said in a statement to\u00a0Le temps de Khaleej<\/em>\u00a0on Tuesday.<\/p>\n\n\n\n \u201cOur focus remains on delivering sustainable growth across our core businesses to drive economic prosperity in the markets in which we operate,\u201d said the statement.<\/p>\n\n\n\n Majid Al Futtaim is one of the\u00a0largest family-owned businesses\u00a0in the UAE and region with interests in retail, hospitality, real estate, entertainment, and facility management among others. It owns 29 malls and welcomes more than 178 million customers per year. Some of its popular brands are Mall of the Emirates, City Centre, Matajer and others. Its hospitality portfolio consists of 7 hotels including Kempinski and Sheraton Mall of the Emirates, Pullman City Centre Deira and others. It employs thousands of people across its diverse portfolio in many countries.<\/p>\n\n\n\n Moreover, Dubai and UAE have been pushing family-owned businesses to plan succession for smooth transition and operation of businesses.<\/p>\n\n\n\n In Dubai and the wider Middle East, many families face their first intergenerational wealth transfer. They will have to navigate this transition against a backdrop of evolving social norms, managing both Sharia and non-Sharia law as well as international inheritance and tax laws. According to wealth analytics firm Kidbrooke, wealthy families across the Middle East will pass Dh3.67 trillion ($1 trillion) to the next generation during the coming decade.<\/p>\n\n\n\n In Dubai, family businesses are synonymous with economic stability and growth. Up to 90 per cent of private companies in the UAE are family businesses, employing more than 70 per cent of the private sector\u2019s workforce and contributing around 40 per cent to the national GDP.<\/p>\n\n\n\n In 2021,\u00a0Emirati billionaire Majid Al Futtaim\u00a0passed away, establishing a group with global recognition. Majid Al Futtaim Holding had announced\u00a0hiring 3,000 UAE citizens\u00a0to support the Emiratisation efforts of the government.<\/p>\n\n\n\n \u201cMajid Al Futtaim remains a privately owned and independently operated Emirati company with a clear strategy, strong performance, and stable governance,\u201d the company said in a statement.<\/p>\n\n\n\n Source : Khaleej Time<\/strong><\/p>\n\n\n\n Published: 10 June 2025<\/strong><\/p>\n\n\n\n <\/p>","protected":false},"excerpt":{"rendered":" A special judicial committee has been set up to restructure the board Majid Al Futtaim Capital The Dubai-based conglomerate\u00a0Majid Al Futtaim (MAF) Holding\u00a0on Tuesday said the recent updates at its parent company \u201cdo not affect the operations or governance\u201d of the company. The\u00a0Financial Times\u00a0earlier reported that Dubai has set up a special judicial committee to […]<\/p>","protected":false},"author":7,"featured_media":28920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2897,2896,2895,2898,1459],"class_list":["post-28919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-corporate-news","tag-dubai-business","tag-majid-al-futtaim","tag-retail-sector","tag-uae-economy"],"_links":{"self":[{"href":"https:\/\/elite-bricks.com\/fr\/wp-json\/wp\/v2\/posts\/28919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elite-bricks.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elite-bricks.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elite-bricks.com\/fr\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/elite-bricks.com\/fr\/wp-json\/wp\/v2\/comments?post=28919"}],"version-history":[{"count":0,"href":"https:\/\/elite-bricks.com\/fr\/wp-json\/wp\/v2\/posts\/28919\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/elite-bricks.com\/fr\/wp-json\/wp\/v2\/media\/28920"}],"wp:attachment":[{"href":"https:\/\/elite-bricks.com\/fr\/wp-json\/wp\/v2\/media?parent=28919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elite-bricks.com\/fr\/wp-json\/wp\/v2\/categories?post=28919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elite-bricks.com\/fr\/wp-json\/wp\/v2\/tags?post=28919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}