{
  "id": 6420386,
  "title": "Majid Al Futtaim posts record H1 2026 results as Dh100 billion development pipeline advances",
  "url": "https://urgent.news/2026/09/09/majid-al-futtaim-posts-record-h1-2026-results-as-dh100-billion",
  "topic": "world",
  "section": "World",
  "published": "2026-09-09T11:39:28.000Z",
  "source": {
    "name": "Gulf News",
    "slug": "gulf-news",
    "url": "https://gulfnews.com/business/property/majid-al-futtaim-posts-record-h1-2026-results-as-dh100-billion-development-pipeline-advances-1.500668515"
  },
  "original_language": "en",
  "account": "Majid Al Futtaim, a Dubai-based development group, announced record first-half 2026 results on Wednesday, with EBITDA reaching Dh2.5 billion, up 11% year-on-year. The group's development pipeline exceeds Dh100 billion, and it awarded Dh2.8 billion in construction contracts during the period. Development revenue surged 38% year-on-year, while net operating profit after tax increased 25% to Dh1.8 billion, with revenue growing 1% to Dh17.5 billion. The stronger earnings growth was driven by higher-margin development, shopping malls, cinemas, and digital businesses. Despite a challenging operating environment due to the regional conflict in the second quarter, Majid Al Futtaim remains focused on disciplined capital allocation and long-term growth. CEO Ahmed Galal Ismail highlighted the dynamism of the company's diversified and integrated portfolio across 14 markets, with multiple growth engines contributing to profitability. Retail revenue fell 6% year-on-year due to challenging consumer conditions in the UAE and ongoing business transformation, while digital retail revenue rose 11% to Dh1.8 billion. The company's malls continued to perform well, with revenue up 12% year-on-year. Majid Al Futtaim's digital businesses also grew, with revenue increasing 12% in Entertainment, 11% in Retail, and 9% in Lifestyle. The group plans to continue investing in physical and digital capabilities, focusing on data and AI, fintech, e-commerce, and Precision Media to improve productivity and strengthen customer relationships.",
  "summary": "Dubai: Majid Al Futtaim reported record first-half EBITDA of Dh2.5 billion, up 11 per cent year-on-year , as the Dubai-based group stepped up investment across a development pipeline worth more than Dh100 billion. 8 billion in construction contracts during the period, while development revenue jumped 38 per cent…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}