Majid Al Futtaim’s empire changed the retail culture in the Middle East, Africa, and Central Asia, but his legacy sparked a new era of family-run business in addition to illuminating trade. Although his career in business was widely praised, his family life was kept under wraps, with his son Tariq Al Futtaim progressively assuming a more prominent leadership position. Tariq’s quiet yet firm presence as a board member of the conglomerate is guiding a legacy based on service, scale, and vision.
Tariq’s ascent to the executive level seems especially appropriate. MAF Holdings has made significant investments in digital infrastructure, immersive experiences, and sustainability projects as part of its recent aggressive diversification. Tariq has taken the route that is especially advantageous for big family businesses going through a generational transition by establishing himself more as a strategic advisor than an operational leader. His behind-the-scenes, cooperative influence keeps the business running smoothly and upholds the principles his father taught.
Majid Al Futtaim – Personal and Family Overview
| Detail | Information |
|---|---|
| Full Name | Majid Al Futtaim |
| Nationality | Emirati |
| Lifespan | Died December 17, 2021 |
| Known For | Founder of Majid Al Futtaim Group (MAF Holdings) |
| Children | Includes son Tariq Al Futtaim |
| Heir’s Role | Tariq Al Futtaim – Board Member of MAF Group |
| Notable Legacy | Malls, Hotels, VOX Cinemas, Carrefour Franchise in MENA |
| Industry | Retail, Real Estate, Entertainment |
| Estimated Net Worth (2021) | $3.6 billion (Forbes) |
| Residence | Dubai, United Arab Emirates |
By combining family governance with third-party leadership, MAF stays clear of the traps that frequently cause dynastic businesses to falter. Global titans like the Ferragamo family in Italy and the Lee family in South Korea have adopted models similar to this hybrid structure. This framework, which combines institutional resilience with individual legacy, is especially novel. While some heirs strive for attention, Tariq’s taciturn demeanor has been remarkably successful in maintaining stability over the long run.
The Al Futtaim family’s social influence goes far beyond business boardrooms. The company hosted a huge Orphans’ Day celebration in April 2025 at all of its Egyptian malls, complete with carefully planned play areas, cinema experiences, and entertainment. Free meals, presents, and interactive performances were provided to children; this program not only brought happiness but also demonstrated MAF’s proactive dedication to emotional health. This was a very clear statement of purpose that was in perfect harmony with the company’s motto, “Creating great moments for everyone, every day.” It was not a public relations stunt.
Tariq’s participation in these community-focused initiatives reflects a more profound shift in leadership from profit to mission. MAF is adjusting with remarkably similar vigor as global expectations for corporate social responsibility rise. The offspring of its founder are extending the concept of impact rather than just maintaining what has already been established.
One of the best examples of child-centered innovation in the MAF portfolio is Little Explorers. The facility, which is situated in City Centre Mirdif, blends entertainment and education in a way that has significantly enhanced the parent-child experience in shopping mall environments. The idea is highly adaptable, meeting both developmental objectives and emotional intelligence, and it is intended to empower kids via self-led learning. The fact that this project succeeds under a retail behemoth that was formerly best known for its real estate holdings says a lot about how the company’s values have changed under second-generation leadership.
With 13 hotels, 29 shopping centers, and the exclusive retail rights to international brands like Carrefour and LEGO in several nations, the company’s scale is still astounding. But the way these resources are used is evolving. MAF is changing its offerings from transactional to relational by utilizing AI-driven customer experiences and advanced analytics. Compared to previous retail models, these upgrades are noticeably quicker and easier to use, and there are strong signs that the younger Al Futtaim generation is advocating for ecosystems that are more intelligent, environmentally friendly, and responsive.
Succession is rarely simple in the context of local family businesses. Due to disagreements, ambiguous ownership, or a lack of preparation, numerous dynasties have broken up. On the other hand, the Al Futtaim legacy has managed the transition with remarkable foresight. Even though Tariq’s role isn’t always prominent, it shows a careful balance of power. He’s not merely taking a seat; he’s quietly but firmly contributing to the future’s design, piece by piece.
Throughout the Gulf, the trend of generational renewal is accelerating. It is now expected of children of famous founders in industries such as retail, technology, and finance to be more than just beneficiaries. They have to be storytellers, stewards, and occasionally reformers. Tariq’s journey exemplifies this change: he has inherited responsibility in addition to assets. His job is reinterpretation, not replication.
This is especially meaningful because Majid Al Futtaim’s values still influence business choices, even after his death. His children have continued that spirit, which places a strong emphasis on inclusivity, cultural respect, and economic resiliency. The focus on play, fostering community ties, and accessible innovation keeps creating a story that is both realistic and upbeat.
MAF Holdings has purposefully shifted away from expansion for the sake of expansion during the last ten years. The Group is now concentrating on maximizing value and experience through innovative licensing models and strategic alliances. Once more, the impact of younger leadership is evident. The kids are bringing in a more sympathetic, experience-based approach while upholding their father’s dedication to excellence.
The idea that business and care can coexist is constantly emphasized, whether it is through Magic Planet’s sensory-friendly areas, Ski Dubai’s inclusive sports programs, or VOX Cinemas’ community screenings. In an area that is frequently criticized for its excess, the Al Futtaim family’s focus on deliberate development provides a positive contrast.
The importance of next-generation leadership will only increase in the upcoming years as global brands seek to localize and digital transformation speeds up across industries. The question for families like the Al Futtaims is now, “How do we make what comes next better?” rather than, “What comes next?”
