Fadel Abdulbaqi Al Ali is Majid Al Futtaim group's new Chairman

Al Ali is currently Chairman of Dubai Financial Services Authority

Last updated: June 24, 2025 | 12:25

Manoj Nair, Business Editor

1 MIN READ

Sir Michael Rake and Fadel Abdulbaqi Al Ali of Majid-Al-Futtaim.

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Dubai: The Dubai-based operator of malls and real estate developer, Majid Al Futtaim, has confirmed Fadel Abdulbaqi Al Ali as the new Chairman of its Holding Board. He succeeds Sir Michael Rake, whose term concludes after a tenure that began in 2009.

Fadel Abdulbaqi Al Ali, Chairman of Majid Al Futtaim’s Holding Board said: “I welcome the privilege and responsibility of guiding one of the UAE’s most beloved institutions as it embarks on its fourth decade of growth and prosperity.

Also Read: Majid Al Futtaim to restructure its board: Report

"I am grateful to Majid Al Futtaim’s management team, my fellow board members and Shareholders for their steadfast support, and to Sir Michael Rake, who has been associated with the company for nearly two decades, leading through important moments and key transitions, while carving a path forward for the Group. His stewardship has left an indelible mark on Majid Al Futtaim.”

Al Ali previously held positions such as deputy CEO and Group chief of operations at First Abu Dhabi Bank and CEO of Dubai Holding. He currently serves as the Chairman of the Dubai Financial Services Authority, and is the Vice Chairman of Wio Bank. He is also board member of the Commercial International Bank of Egypt.

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.