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Majid Al Futtaim Group company logo
Holding Company
FINANCE | Real Estate / Commercial Real Estate Development
majidalfuttaim.com

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Investments

4

Partners & Customers

10

About Majid Al Futtaim Group

Majid Al Futtaim Ventures is responsible for developing and managing new enterprises that complement and reinforce Majid Al Futtaim Holding's leadership in shopping, retail and entertainment. The Company's expertise spans across a collection of wholly-owned businesses that mark Majid Al Futtaim Ventures' dedication to delivering superior customer experiences.

Majid Al Futtaim Group Headquarter Location

Tower 1, 10th Floor, City Centre Deira Complex PO Box 91100

Dubai, 91100,

United Arab Emirates

+9714 2949999

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Majid Al Futtaim Group Web Traffic

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Latest Majid Al Futtaim Group News

Shakeeb Masri steps down from e-commerce role at Carrefour Majid Al Futtaim

May 17, 2022

Shakeeb Masri has departed Carrefour Majid Al Futtaim where he held the position of Vice President E-commerce.In a LinkedIn post, he said: “As I step forward on a new path in my career journey, I can't help but reflect on all the great moments and achievements we’ve created together, all the incredible people I've had the absolute pleasure of working with and all the opportunities I’ve been blessed by during my 20 years.” Our customers could soon receive their groceries via self-driving robots thanks to an agreement with @yandexcom! With @rta_dubai support we will launch a pilot program in 2022 to explore autonomous technology solutions to enhance @CarrefourUAE last-mile delivery capabilities pic.twitter.com/J3KuHzxKeo— Hani Weiss (@haniweiss) November 3, 2021 He added: “I still remember the day in 2018 when I took the lead role in the digital transformation as Head of Omnichannel Business Unit.”“During this amazing journey, we succeeded in scaling up our e-commerce in 23 cities, opening the first largest e-grocery and fresh food licensed dark stores in the Riyadh and Dammam and the first grocery state-of-the-art automated/robotised micro fulfilment centre in Jeddah.”“In three plus years, we grew by 340% while increasing the market share to be a leading online grocery player in KSA.”Masri  did not reply to our request for comment regarding his next move and replacement at Carrefour Majid Al Futtaim.Nalla KarunanithyNalla Karunanithy also recently departed Majid Al Futtaim Retail, where he served as Chief Digital Officer. In a LInkedIn post, he said: “After three plus long and great years, I bid adieu to Majid Al Futtaim - Retail to pursue my next adventure.”“Goodbyes are hard. The mixed feeling l’m having as if I just dropped off my kid at college. I am filled with pride and some inexplicable melancholy at the same time.”He added: “In the last three plus years, midst of the pandemic, we scaled our digital commerce offering to 12+ countries and grew by 200x, with over 220+ e-commerce facilities, along the way launched the region’s first three fully automated grocery dark stores.”“And in becoming region’s leading omnichannel retailer with over 470+ stores across 17 markets, region’s first unmanned store (Carrefour City+), and scaling (Mobile) Scan & Go to over 155+ stores with NPS over 60.”“No mean feat against well funded competition in a diverse & fragmented market. I unlearned, learned and relearned many things during these three plus years.”Karunanithy signed off by thanking Hani Weiss, CEO at Majid Al Futtaim Retail, “for the opportunity and always having my back. Thanks to my retail executive colleagues for a great fun along the way. And thanks MAF Retail Board for the guidance and support.”“To my global omnichannel operations team & CORP HO team, I send virtual hugs and you have a friend for life. To every MAFer, thank you for the great journey. To everyone else, say continue to watch the space from MAF Retail team’s great work.”On his next move, Karunanithy told RTIH he was building “a new digital B2B and B2C marketplace ecosystem in the MENA region.”“Primarily to rapidly accelerate modernisation of the traditional trades. A new digital tech commerce company from ground up to be the next GoJek or Grab of the region.” Sign up for our free retail technology newsletter. Retail Technology Innovation Hub RT @CorpA2z: $AZ thanks you @RTIH_RetailTech for continued exposure as we launch into a new demographic today in #Asia. We now h… https://t.co/uVwYAhaWvS May 16, 2022, 8:42 PM Retail Technology Innovation Hub Last week’s biggest #retailtech plays at a glance, inc. @Lowes @Cleveron_Robots @SeguraSystems @scibids @trylolli… https://t.co/JyNlaBATLd May 16, 2022, 3:44 PM Retail Technology Innovation Hub COMMENT: Reality bites as Zara charges for online returns #ecommerce #onlineshopping #shoppingonline #coronavirus… https://t.co/g4068rggvM May 16, 2022, 2:48 PM Retail Technology Innovation Hub .@dominos is teaming with @netflix to launch an immersive mind ordering app experience which places “test subjects”… https://t.co/Qu3bFoq0zM May 16, 2022, 2:30 PM Retail Technology Innovation Hub Top 10: last week’s most popular RTIH retail technology articles, including @Clekt_Data @thoughtclothing… https://t.co/Pv7GwCphU6 May 16, 2022, 10:20 AM Retail Technology Innovation Hub Events news: @katenash @TheBasementJaxx and @thefeeling headline @shoptalk Europe after show party #shoptalk… https://t.co/R0zPgeqaKV May 16, 2022, 9:09 AM Retail Technology Innovation Hub Marks and Spencer wraps digital and data solutions hackathon @MandSnews #retailtech #hackathon #data… https://t.co/WPm0K0667E May 16, 2022, 9:07 AM Retail Technology Innovation Hub .@madedotcom, an online retailer which designs and sells homewares and furniture, has announced the appointment of… https://t.co/ErHAVSJp8B May 16, 2022, 9:05 AM

Majid Al Futtaim Group Investments

4 Investments

Majid Al Futtaim Group has made 4 investments. Their latest investment was in BALY as part of their Seed VC on January 1, 2022.

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Majid Al Futtaim Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/28/2022

Seed VC

BALY

$10.5M

Yes

11

10/24/2018

Series A - II

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$99M

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10

5/16/2017

Series B

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$99M

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10

12/23/2014

Unattributed VC

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10

Date

1/28/2022

10/24/2018

5/16/2017

12/23/2014

Round

Seed VC

Series A - II

Series B

Unattributed VC

Company

BALY

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Amount

$10.5M

$99M

$99M

New?

Yes

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Co-Investors

Sources

11

10

10

10

Majid Al Futtaim Group Acquisitions

2 Acquisitions

Majid Al Futtaim Group acquired 2 companies. Their latest acquisition was Wadi on May 16, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/16/2019

Series A

$99M

$97M

Acquired

1

11/21/2018

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$99M

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10

Date

5/16/2019

11/21/2018

Investment Stage

Series A

Companies

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Valuation

$99M

$99M

Total Funding

$97M

Note

Acquired

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Sources

1

10

Majid Al Futtaim Group Partners & Customers

10 Partners and customers

Majid Al Futtaim Group has 10 strategic partners and customers. Majid Al Futtaim Group recently partnered with Yellow Door Energy on December 12, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

12/15/2021

Partner

United Arab Emirates

1

12/5/2021

Partner

United Arab Emirates

Abu Dhabi, UAE – 05 December 2021: Following the issuance of UAE Federal Decree-Law No. Majid Al Futtaim and Aldar aim to become First Developers in UAE to digitalise real estate sales transactions

As the first real estate organisations in the UAE to adopt this online system , Majid Al Futtaim welcomes this collaboration with Aldar Properties and aims to work together to create a more innovative industry .

1

11/4/2021

Partner

Russian Federation

Yandex partners with Majid Al Futtaim to bring autonomous robot delivery to Dubai

Yandex has signed an agreement with Majid Al Futtaim -- a shopping mall , communities , retail , and leisure company with interests across the Middle East , Africa and Central Asia -- to enhance Carrefour 's last-mile delivery capabilities via autonomous technology solutions .

1

11/1/2021

Vendor

United Arab Emirates

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10

10/31/2021

Vendor

United Arab Emirates

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10

Date

12/15/2021

12/5/2021

11/4/2021

11/1/2021

10/31/2021

Type

Partner

Partner

Partner

Vendor

Vendor

Business Partner

Country

United Arab Emirates

United Arab Emirates

Russian Federation

United Arab Emirates

United Arab Emirates

News Snippet

Abu Dhabi, UAE – 05 December 2021: Following the issuance of UAE Federal Decree-Law No. Majid Al Futtaim and Aldar aim to become First Developers in UAE to digitalise real estate sales transactions

As the first real estate organisations in the UAE to adopt this online system , Majid Al Futtaim welcomes this collaboration with Aldar Properties and aims to work together to create a more innovative industry .

Yandex partners with Majid Al Futtaim to bring autonomous robot delivery to Dubai

Yandex has signed an agreement with Majid Al Futtaim -- a shopping mall , communities , retail , and leisure company with interests across the Middle East , Africa and Central Asia -- to enhance Carrefour 's last-mile delivery capabilities via autonomous technology solutions .

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Sources

1

1

1

10

10

Majid Al Futtaim Group Team

24 Team Members

Majid Al Futtaim Group has 24 team members, including current Chief Executive Officer, Alain Bejjani.

Name

Work History

Title

Status

Alain Bejjani

Chief Executive Officer

Current

Souheil Hajjar

Gulf International Bank, and Inter-American Development Bank

Chief Executive Officer

Current

Hani Weiss

Chief Executive Officer

Current

Shrimati Damal

Chief Financial Officer

Current

Mads Houlberg

Chief Operating Officer

Current

Name

Alain Bejjani

Souheil Hajjar

Hani Weiss

Shrimati Damal

Mads Houlberg

Work History

Gulf International Bank, and Inter-American Development Bank

Title

Chief Executive Officer

Chief Executive Officer

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Status

Current

Current

Current

Current

Current

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