UAE businessman Majid Al Futtaim passes away; Sheikh Mohammed pays tribute

The Dubai Ruler hailed Al Futtaim as one of Dubai's "most important" business leaders

By Web Desk

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Published: Fri 17 Dec 2021, 5:08 PM

Last updated: Fri 17 Dec 2021, 11:13 PM

Emirati businessman Majid Al Futtaim has passed away.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, paid tribute to Futtaim on Twitter, hailing him as "one of Dubai's most important" business leaders.

Al Futtaim's death was announced on Friday.

Sheikh Mohammed noted that one of Al Futtaim's most significant announcements recently was his decision to hire 3,000 Emiratis over the next five years.

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, tweeted:

'I extend my sincere condolences to the family of Majid Al Futtaim, a groundbreaking UAE entrepreneur and a pioneer in charitable and humanitarian work'

Yusuffali M.A., Lulu Group chairman and managing director, said the demise was a “great loss”.

“A true visionary and inspiration for the entire business community. He played a very key role in many business sectors, especially in the growth of retail sector in UAE and the region. Great loss indeed.”

Al Futtaim founded Majid Al Futtaim Holding in 1992. It expanded across the Mideast with malls and other ventures. It also runs over 300 Carrefour supermarkets and hypermarkets across Africa, Asia and the Middle East.

Its showpiece mall, the Mall of the Emirates, is a major attraction in Dubai and is home to the indoor ski slope.

Al Futtaim, who ranked as the third-richest Arab billionaire in 2021 and shared his fortune with his family, had an estimated net worth of $4.2 billion as of December 17, 2021, according to Forbes.

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