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Majid Al Futtaim posted its strongest financial performance to date in 2025 as net profit climbed 41 per cent to Dh3.6 billion while the figure excluding valuation gains advanced 48 per cent to Dh2.3 billion. Revenue for the 12 months through December rose 6 per cent to Dh35.9 billion and EBITDA increased 10 per cent to a record Dh5.1 billion, the first time the conglomerate has crossed the Dh5 billion threshold in that measure. UAE revenue alone grew 11 per cent to more than Dh22 billion, reinforcing the contribution from the group’s largest market. The company generated Dh3.5 billion in free cash flow during the year, a 25 per cent increase from 2024 that supported further balance sheet strengthening.
Shopping malls and hotels delivered Dh4.8 billion in revenue, up 6 per cent, as occupancy rates held above 98 per cent and footfall across the portfolio rose 6 per cent. Real estate development revenue surged 33 per cent to Dh5.8 billion amid robust demand for units in communities including Tilal Al Ghaf and Ghaf Woods, where thousands of homes have been handed over. E-commerce revenue expanded 20 per cent to Dh3.2 billion while entertainment sales increased 9 per cent to Dh1.9 billion on the back of cinema growth and lifestyle brands added 14 per cent to reach Dh1.5 billion, even as overall retail revenue slipped 1 per cent. The group operates 29 malls across the region and maintains seven luxury hotels as part of its mixed-use portfolio.
Net debt declined 15 per cent through the period to Dh11.9 billion, bringing the net debt-to-equity ratio to 32 per cent, the lowest level recorded in more than a decade according to the group’s financial statements. Total assets reached Dh71 billion at year-end, leaving the business with capacity to fund its development pipeline. Previous annual accounts from the company showed 2024 revenue at Dh33.9 billion with EBITDA of Dh4.6 billion, providing a baseline for the latest gains.
Chief executive Ahmed Galal Ismail described the year as a defining one for the business. “2025 was a defining year for Majid Al Futtaim … our momentum reached new heights, delivering peak performance across every dimension of our business to achieve the strongest financial performance in our history,” he said. Ismail pointed to the diversified pipeline spanning the UAE, Saudi Arabia and Egypt that features major reinvestments, including the Dh5 billion transformation of Mall of the Emirates.
A US Department of Agriculture sector review indicated the UAE online grocery market expanded 13 per cent year-on-year to $1.1 billion in 2024 before continuing to grow through 2025, aligning with the conglomerate’s digital retail initiatives. The results reflect broader expansion in the UAE’s non-oil economy, particularly in retail, hospitality and real estate where the group maintains significant exposure. During 2025 the company introduced the HyperMax grocery brand in Oman, Bahrain and Kuwait together with the SAVA modern discount retailer in the Emirates.
