Major Middle East operator Majid Al Futtaim has released its financial results for the year ended December 31, 2015, which shows that the shopping malls and FEC group enjoyed net profits up 29 per cent to AED3.3bn (€790m) on revenues up eight per cent to AED27.3bn (€6.5bn).
The company, which owns and operates 19 major shopping malls across the region, plus 12 hotels and 22 family entertainment centres under the Magic Planet brand, next year will hit its 25th anniversary since it was founded. It now operates in 14 international markets from its Dubai base and employs more than 30,000 people.
MAF also operates 182 Vox cinema screens across the region and other entertainment facilities, including Ski Dubai and iFly Dubai.
The year marked the 20th anniversary of City Centre Deira, where its first Magic Planet was installed. Its latest development is the opening of the 36,000sq.m. extension to its Mall of the Emirates destination in Dubai and the City Centre Muscat mall in Oman.
