Dubai, UAE – Majid Al Futtaim announced, on Wednesday, its financial results for the first half of 2026, recording record profits before interest, taxes, depreciation and amortization worth 2.5 billion dirhams, with a growth rate of 11% on an annual basis.
Net operating profits after tax increased by 25% to reach AED 1.8 billion. Profits also recorded growth that exceeded revenue growth, which rose by 1% year-on-year to reach AED 17.5 billion, reflecting the increasing contribution of real estate development, shopping malls, cinemas and digital businesses with higher profit margins to the group’s overall performance.
This performance reflects the strength of the Group’s diverse and integrated business model, which combines destinations, residential communities, food retail, entertainment, lifestyle, and digital platforms.
Combined with implementation discipline and established customer relationships, «Majid Al Futtaim» was able to continue to grow and invest in capabilities that will support its next phase of growth and enhance its ability to deliver value, despite the impact of regional tensions on the operating environment during the second quarter.
The strength of its balance sheet and its good liquidity also contributed to maintaining the financial flexibility necessary to meet its investment obligations, and continuing to employ capital selectively in strategic priorities that would enhance the group’s long-term growth path.
Net borrowing at the end of the first half amounted to AED 13.2 billion, while the group maintained a balanced debt structure and strong cash liquidity, in addition to available credit facilities, providing coverage for its net financing needs for more than two and a half years.
The group’s total assets amounted to approximately AED 73 billion, a 4% year-on-year increase, confirming the strength of its financial position.
Strong business portfolio
The group’s portfolio of destinations and communities continued to play a strategic role in supporting its business growth, as the real estate development sector maintained its position as one of the group’s most prominent growth drivers, recording a 38% year-on-year increase in revenues, as the value of development projects exceeded AED 100 billion, while the value of construction contracts awarded to date amounted to AED 2.8 billion.
The projects also include an agreement worth 62 billion dirhams with «Dubai South» to develop an integrated multi-use community extending over an area of 22 million square feet, in addition to a partnership with «Midar» to develop a multi-use project in the Egyptian capital, Cairo. Construction work has also made progress on the «Gav Woods» project and the Mall of the Emirates redevelopment project.
Sustainability Certificates
During the first six months of this year, the group became the first in the region to obtain globally recognized sustainability certificates through 23 wholly-owned shopping centers.
In support of national cadres, Majid Al Futtaim launched the UAE Youth Council. It also launched the Youth Council, which provides a live platform for young Emiratis working across the group. To contribute their ideas and participate in formulating initiatives related to society, work and growth.
Looking to the future, Majid Al Futtaim will continue to selectively invest in physical and digital capabilities that support qualitative and sustainable growth over the long term.
