Page 156 - Aamir Rehman - Dubai & Co Global Strategies for Doing Business in the Gulf States-McGraw-Hill (2007)

140 Dubai & Co.

and a joint franchisee with the Al-Olayan Group for the Saudi
Arabian business. Al-Futtaim is, without a doubt, one of the
strongest family enterprises in all of the GCC states and one of the
most effective local agents any multinational could find. Besides
representing an impressive—and comprehensive—list of multina-
tional firms such as IKEA, Toys “R” Us, Hertz, and Honda, Al-Futtaim
has been at the forefront of retail property development through its
portfolio of shopping malls (known as MAF Shopping Malls for
Majid Al-Futtaim). Its City Centre shopping mall in Dubai—the
city’s most popular destination and a must-see for visitors—has
been a convenient venue for locating and promoting Al-Futtaim
businesses such as the Carrefour store and Toyota-Lexus show-
room. Al-Futtaim has expanded its shopping mall development
capabilities well beyond Dubai, undertaking projects elsewhere in
the UAE and the other GCC countries. Muscat City Centre in
Oman, for example, is an MAF Shopping Malls property.
Al-Futtaim’s powerful real estate capabilities give multinationals
confidence that, if they partner with the Group, their outlets will be
in prime locations with significant shopper traffic.
As an illustration of how broad and influential a local franchisee
or distributor can be, it is worth taking a closer look at the business
portfolio of the Al-Futtaim Group. Table 5.1, though far from
comprehensive, presents some highlights of the Group’s activities.

TABLE 5.1

The Al-Futtaim Group at a Glance 9

Attribute Description
Origins It was founded in the 1930s as a trading enterprise and
grew into a conglomerate through the 1940s and 1950s.
Number of Companies Over 40 companies bear the Al-Futtaim name, not
to mention all the international brands the Group
represents through distribution and
franchise agreements.
Geographic Presence While the UAE is its home market, Al-Futtaim has
operations in Bahrain, Kuwait, Qatar, Oman, and
Egypt.