{"id":114014,"date":"2026-03-17T00:00:00","date_gmt":"2026-03-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=114014"},"modified":"2026-03-17T03:59:24","modified_gmt":"2026-03-17T03:59:24","slug":"maf-reports-strong-2025-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/03\/17\/maf-reports-strong-2025-earnings\/","title":{"rendered":"MAF reports strong 2025 earnings"},"content":{"rendered":"<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Majid Al Futtaim\u2019s <\/strong><strong>(MAF)<\/strong><strong> next investment cycle is arriving from<\/strong><strong> a position of <\/strong><strong>strength. <\/strong>Net income in 2025 rose 41% y-o-y to AED 3.6 bn on revenue of AED 35.9 bn, up 6%, according to its <a href=\"https:\/\/www.majidalfuttaim.com\/en\/media-centre\/press-releases\/detail\/2026\/03\/majid-al-futtaim-reports-record-fy-2025-results-with-41--net-profit-growth-and-strongest-balance-sheet-in-over-a-decade\" target=\"_blank\" rel=\"noopener\">earnings release<\/a>. Take out the valuation gains, and the underlying net income rose even faster \u2014 up 48% to AED 2.3 bn \u2014 suggesting that the core business did more of the work this year.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Real estate development did much of the heavy lifting<\/strong>, with revenue up 33% to AED 5.8 bn on strong residential demand. E-commerce was another growth area, rising 20% to AED 3.2 bn as quick commerce jumped 38%. Shopping malls and hotels still brought in AED 4.8 bn, with occupancy above 98% and footfall up 6%.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Now the spending starts again:<\/strong> As we\u2019ve reported, MAF Properties has committed EGP 15 bn (AED 1.1 bn) to Junction in Egypt\u2019s West Cairo, plus EGP 1.9 bn (c.AED 143.6 mn) for retail there this year. In Saudi Arabia, SAR 17.5 bn is earmarked for an integrated development in Riyadh, CEO Ahmed El Shamy <a href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c5a25600-99fe-453c-9b15-42f0a29cb76b\/majid-al%253cmark%253e-futtaim%253c%2Fmark%253e-is-pouring-bns-in-egypt,-ksa\" target=\"_blank\" rel=\"noopener\">previously told us<\/a>, alongside a retail multiplex in <a href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/273c2f9f-587f-4619-98e4-6d6ebc78c59a\/%253cmark%253emajid-al-futtaim%253c%2Fmark%253e-tapped-for-saudi-vision-2030-project\" target=\"_blank\" rel=\"noopener\">Diriyah Square<\/a>. This comes on top of the <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/majid-al-futtaim-invests-aed-5-bn-in-mall-of-the-emirates-upgrade\/\" target=\"_blank\" rel=\"noopener\">AED 5 bn transformation of Mall of the Emirates<\/a> and new grocery formats, including HyperMax and Sava. The group also recently priced a <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/10\/17\/majid-al-futtaim-properties-prices-sukuk\/\" target=\"_blank\" rel=\"noopener\">USD 500 mn 10-year sukuk<\/a> \u2014 fresh fuel for what appears to be another capex-heavy chapter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earnings rose 41% in 2025, with property and digital businesses doing much of the heavy lifting<\/p>\n","protected":false},"author":1,"featured_media":114015,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[237,1205,7,1342,254,98,642],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-114014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-ecommerce","tag-enterpriseam-uae","tag-investment","tag-majid-al-futtaim","tag-real-estate","tag-retail","wpautop","entry"],"acf":{"mongo_id":"8cb1d88a-c77d-4efb-ae74-4de022ee731e","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/1959.jpg","photo_position":"above","homepage_title":"","full_issue_title":"MAF reports strong 2025 earnings","related_issue":[113999],"teaser":"Earnings rose 41% in 2025, with property and digital businesses doing much of the heavy lifting","photo_link":"","related_sponsor":"","voice_url":"","en_translation_ref_id":"","section_story_id":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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