Majid Al Futtaim has showcased robust financial performance in the first half of 2025, reporting an impressive $4.7 billion in revenue as its profit surged by 23%. This period marks a significant leap in the Group’s operational success, bolstered by strategic investments and advancements in digital retail, positioning Majid Al Futtaim for sustained growth.
Strong Financial Performance
For the six-month period ending June 30, 2025, Majid Al Futtaim recorded consolidated revenue of AED 17.3 billion ($4.7 billion), reflecting a year-on-year increase of 3%. The Group’s EBITDA also demonstrated growth, rising 9% to AED 2.3 billion ($626 million).
Net profit reached AED 1.5 billion ($408 million), with net profit excluding valuation and tax experiencing a remarkable 23% increase to AED 1.3 billion ($354 million).
Strategic Investments and Expansion
In support of its growth strategy, the Group reported free cash flow of AED 1.1 billion ($299 million) and reduced net debt to AED 13.4 billion ($3.6 billion). With total assets swelling to AED 70.4 billion ($19.2 billion), net debt to equity ratios improved to 38%.
Majid Al Futtaim plans to invest AED 5 billion ($1.36 billion) in the expansion of the Mall of the Emirates, reinforcing its commitment to developing world-class shopping destinations.
Digital and Leisure Growth
Diving into digital retail, the Group’s Carrefour Now service saw revenues skyrocket by 41% year-on-year, reaching AED 1.6 billion ($435 million), a 23% expansion. Precision Media, the Group’s AI-driven AdTech venture launched in 2024, reported a 21% increase in revenue.
Additionally, entertainment revenues grew by 11% to AED 891 million ($242 million), fueled by a 16% growth at VOX Cinemas and the launch of innovative leisure concepts such as ACTIVATE gaming and IMAX with OMA Theatre Pods. Resorts like Ski Dubai, Ski Egypt, and Snow Oman also reported significant growth.
Market Expansion and Sustainability Efforts
In a notable move, the Lifestyle division expanded into Saudi Arabia’s upscale market, achieving a 15% revenue increase to AED 674 million ($183 million), with EBITDA more than doubling during this period.
Commenting on the Group’s financial success, Fadel Abdulbaqi Al Ali, Chairman of the Board of Majid Al Futtaim Holding, stated: “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.”
CEO Ahmed Galal Ismail added: “Majid Al Futtaim’s strong half-year results reaffirm the Group’s profitable growth trajectory. The AED 5 billion investment in Mall of the Emirates demonstrates our dedication to setting new standards in retail and lifestyle experiences.”
Moreover, Majid Al Futtaim demonstrated a strong commitment to sustainability, earning LEED Platinum certification for the Ghaf Woods Forest Sales and Experience Centre and being recognized as the Developer of the Year at the International Property Show Awards. The Group also secured accolades for its ESG framework and was named Sustainable Organisation of the Year at the Construction Technology ConFex Awards 2025.
With net borrowings reducing by AED 500 million to AED 13.4 billion ($3.6 billion) and liquidity sufficient to cover more than two years of financing needs, Majid Al Futtaim remains focused on disciplined growth, strategic diversification, and investments in high-quality assets to ensure long-term sustainable value.