Everybody who does business with the UAE knows about Al-Futtaim Group. But not everyone knows that this is the oldest and biggest family-owned group of companies in the whole Middle East region.
The history of this group began in 1930 as a small trading enterprise. From 1950 the company acquired its modern features and began to expand the scope of activities. For example, in 1955 Al-Futtaim Motors was established — the exclusive distributor of Toyota in the UAE. Gradually the company start to work in other areas, such as electronics, insurance, services, real estate, retail and others. Today Al-Futtaim Group has also become the exclusive distributor of many famous brands, like Alcatel, Chrysler, Honda, IBM, IKEA, Panasonic, Toshiba, Volvo, etc.
The conglomerate was operated by Abdulla Al Futtaim and his cousin Majid Al Futtaim. But in 2000 the Al-Futtaim family decided to split its business. Now Abdulla Al Futtaim work mainly with automotive and financial services, Majid Al Futtaim is owner of the Majid Al Futtaim Group (MAF), that deals with the real estate and retail. The MAF was founded in 1992 and now operates many hypermarkets, hotels and malls in UAE nd Egypt. The company owns Mall of the Emirates in Dubai.
Today Al-Futtaim Group is constantly expanding. The interests of the company are no longer limited by the UAE. For instance, in 2008 Al-Futtaim Group bought 88% of the shares of Singapore retail company Robinsons & Co. And in 2013 full control of car retailer CMC Holdings from Nairobi, Kenya was taken.
Al-Futtaim Group and MAF employs tens of thousands people. Both employers are trusted and respected amongst UAE citizens. And many people recommend this organisations as an employers. This companies are the significant part of the UAE economy and have international value.