Majid Al Futtaim reported continued profitable growth in the first half of 2025, alongside major strategic investments and advances in digital retail.
For the six months ending June 30, 2025, the Group posted consolidated revenue of AED17.3bn ($4.7bn), up 3 per cent year-on-year, while EBITDA rose 9 per cent to AED2.3bn ($626m).
Net profit reached AED1.5bn ($408m), with net profit excluding valuation and tax climbing 23 per cent to AED1.3bn ($354m).
Majid Al Futtaim results
Free cash flow stood at AED1.1bn ($299m), while net debt was reduced to AED13.4bn ($3.6bn). Total assets reached AED70.4bn ($19.2bn), with net debt to equity improving to 38 per cent.
The Group is investing AED5bn ($1.36bn) in the expansion of Mall of the Emirates, underlining its focus on world-class destinations.
Demand for residential communities remained strong, with notable sales in Ghaf Woods and Tilal Al Ghaf, and the launch of Capria and Junction, a mixed-use development next to Mall of Egypt.
Digital growth accelerated, with Carrefour Now growing 41 per cent year-on-year and revenue at AED1.6bn ($435m), up 23 per cent.
Precision Media, the Group’s AI-enabled AdTech business launched in 2024, rose 21 per cent in revenue.
VOX Cinemas delivered 16 per cent growth, while new leisure concepts such as ACTIVATE gaming and IMAX with OMA Theatre Pods boosted entertainment revenues by 11 per cent to AED891m ($242m). Ski Dubai, Ski Egypt, and Snow Oman all reported strong growth.
The Lifestyle division expanded into Saudi Arabia’s luxury market, with revenue up 15 per cent to AED674m ($183m) and EBITDA more than doubling.
Fadel Abdulbaqi Al Ali, Chairman of the Board, Majid Al Futtaim Holding, said: “Majid Al Futtaim’s first half financial performance highlights both the strength of its strategic direction and the Group’s commitment to delivering long-term value creation for all stakeholders”.
Ahmed Galal Ismail, CEO, Majid Al Futtaim Holding, said: “Majid Al Futtaim’s strong half-year results reaffirm the Group’s profitable growth trajectory. The AED5bn investment in Mall of the Emirates demonstrates our dedication to setting new standards in retail and lifestyle experiences.”
The Group advanced its sustainability agenda with LEED Platinum certification for the Ghaf Woods Forest Sales and Experience Centre, and was named Developer of the Year at the International Property Show Awards.
It also won Best ESG Framework at the Gulf Customer Experience Awards and Sustainable Organisation of the Year at the Construction Technology ConFex Awards 2025.
Net borrowings declined by AED500m to AED13.4bn ($3.6bn), with liquidity covering more than two years of financing needs.
Majid Al Futtaim said it remains focused on disciplined growth, strategic diversification, and investment in high-quality assets to deliver long-term sustainable value.
