Dubai: Majid Al Futtaim has reported a record AED 2.5 billion EBITDA for the first half of 2026, up 11% year-on-year, while revenue rose 1% to AED 17.5 billion. Net operating profit after tax increased 25% to AED 1.8 billion.
The company’s property development business was one of its strongest growth engines, with development revenue rising 38%. Its development pipeline has now exceeded AED 100 billion, while AED 2.8 billion in construction contracts were awarded during the period.
A major part of that pipeline is the AED 62 billion Dubai South mixed-use community, covering around 22 million square feet near Al Maktoum International Airport. Construction is also progressing at Ghaf Woods and the Mall of the Emirates redevelopment.
Majid Al Futtaim is also expanding in Egypt through a mixed-use partnership with Midar and has broken ground on the JUNCTION business park in West Cairo, with the first phase forming part of an investment exceeding EGP 20 billion.
