“Majid Al Futtaim,” a leading company specializing in the development and management of shopping malls, integrated cities, and retail and entertainment facilities across the Middle East, Africa, and Asia, has appointed Fadel Abdul Baqi Al Ali as Chairman of Majid Al Futtaim Holding. He succeeds Sir Michael Rake, who has served as Chairman since 2009 and will conclude his duties.
Commenting on his appointment, Fadel Abdul Baqi Al Ali stated, “I am honored to be selected as the Chairman of Majid Al Futtaim Holding and I am grateful for this trust to lead one of the most respected companies in the UAE as it enters its fourth decade and prepares for a new phase of growth and success.”
He further expressed, “I am deeply thankful for the support from the management team at Majid Al Futtaim, the board members, colleagues, and stakeholders. I would also like to express my appreciation to Sir Michael Rake, who has been associated with the company for nearly two decades, guiding it through significant phases and transformations, paving the way for its future and leaving a remarkable mark on the journey and history of Majid Al Futtaim.”
Fadel Abdul Baqi Al Ali, with his distinguished career, is recognized as a prominent figure in corporate governance and strategic leadership. He has previously held several senior executive roles, including Vice Chairman and Chief Operating Officer of First Abu Dhabi Bank, and CEO of Dubai Holding. Currently, he serves as the Chairman of the Dubai Financial Services Authority, Vice Chairman of Abu Dhabi Islamic Bank, and is a board member of Commercial International Bank in Egypt.
Founded in 1992, Majid Al Futtaim is a diversified lifestyle group operating in the Middle East, Africa, and Asia. The group was established based on the vision of its late founder, Majid Al Futtaim, which revolves around the concepts of shopping, entertainment, and leisure to achieve “the happiest moments for everyone, every day.” The group has witnessed remarkable growth, becoming one of the most reputable companies in the region, employing over 43,000 individuals, with assets valued at $19 billion, and holding the highest credit rating (BBB) among private companies in the region. It welcomes more than 600 million visitors through its physical and digital platforms each year.