Majid Al Futtaim Reports Record H1 2026 Results Amid Major Developments

Sep 9, 2026

81 min

Sep 9, 2026 12:32

Majid Al Futtaim posts record H1 2026 results as Dh100 billion development pipeline advances

## Financial Performance

Majid Al Futtaim has announced a record first-half EBITDA of Dh2.5 billion for 2026, marking an 11% increase compared to the previous year. The company's net operating profit after tax rose by 25% to Dh1.8 billion, while revenue saw a modest 1% increase to Dh17.5 billion. These results highlight the group's strategic focus on high-margin sectors such as development, shopping malls, and digital businesses.

## Development Pipeline

The group's development pipeline, valued at over Dh100 billion, continues to drive growth. During the first half of 2026, Dh2.8 billion in construction contracts were awarded. Notable projects include a Dh62 billion agreement with Dubai South for a large mixed-use community and ongoing developments at Ghaf Woods and the Mall of the Emirates.

## Retail and Digital Expansion

Retail revenue experienced a 6% decline, attributed to challenging consumer conditions in the UAE. However, digital revenue in retail increased by 11% to Dh1.8 billion. The group also expanded its retail offerings, introducing brands like Primark and Ulta Beauty through partnerships.

## Asset Management and Entertainment

The Asset Management division saw a 12% rise in mall revenue, driven by strong leasing activity and tenant performance. Cinemas also performed well, with a 3% increase in revenue. The Entertainment sector is focusing on integrating food, entertainment, and leisure to meet evolving customer preferences.

## Strategic Outlook

Majid Al Futtaim plans to continue investing in both physical and digital capabilities, with a focus on data, AI, and fintech. The company remains optimistic about the long-term prospects in the UAE, Saudi Arabia, and Egypt, aiming to enhance customer experiences and strengthen partner relationships.

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