Dubai's Majid al Futtaim closes H1-2025 with Dh1.5b profit

Dubai: The Majid Al Futtaim Group - currently on a Dh5 billion investment at its flagship Mall of the Emirates - scored a Dh1.5 billion net profit in the first six months of 2025.

This compares with Dh1.6 billion a year before. The H1-2025 profit tally excluding valuation and tax increased 23% to Dh1.3 billion from Dh1 billion for the prior period, according to the company that owns malls, residential communities, hotels, and is one of the biggest hitters in retail regionally.

Revenues for the Dubai holding company came in higher, by 3% to Dh17.3 billion, while EBITDA grew by 9% to Dh2.3 billion.

Majid Al Futtaim had Dh1.1 billion in free cash flow and also reduced its net debt to Dh13.4 billion, which came through 'effective capital management and allocation'.

The 'strong half-year results are a testament to the Group’s steady progress on strategic investments and transformation across our core sectors', said Ahmed Galal Ismail, CEO, Majid Al Futtaim Holding.

Total assets as of end June 2025 were Dh70.4 billion, and net debt-to-equity improved to 38% from H1-2-24.

The company is getting more out of its multiplex brand, VOX. The entertainment arm saw an 11% net revenue growth, to Dh891 million, primarily 'driven by strong growth in cinemas'.

"VOX Cinemas delivered a standout performance with 16% revenue growth, while the Group expanded its 'Activate' gaming concept and launched the region’s first IMAX with OMA Theatre Pods," the company said. (Ski Dubai and Ski Egypt delivered double-digit revenue growth, while 'Snow Oman and Abu Dhabi showed steady performance'.

"We continue to reinforce our leadership in premium entertainment by introducing new experiences and pioneering innovations, while we continue to grow and expand our lifestyle offering," the statement added.

It also meant an entry into the Saudi luxury market.

When it comes to property, Majid al Futtaim's development portfolio and residential communities fetched revenues of Dh2 billion and EBITDA of Dh458 million.

There was more of the 'strong sales; in Ghaf Woods and Tilal Al Ghaf.

"Early phases of Capria saw high demand, underlining market appetite for premium, community-centric living," said the company.