DUBAI : A special judicial committee, established in 2022 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, has reportedly directed changes to the parent company overseeing the Majid Al Futtaim Group. The move marks a significant step in managing succession and governance in a business that has played a key role in Dubai’s rise as a commercial hub.

The Financial Times reported that the new board structure includes five government-appointed and four family representatives, as part of an effort to end family disputes and ensure continuity. The directive reflects Dubai’s broader push to guide family-owned conglomerates through generational transitions without destabilizing their operations.

While the changes focus on Majid Al Futtaim Capital—the entity that supervises the group—they do not affect the day-to-day operations of Majid Al Futtaim Holding, which continues to function under an independent board.

Majid Al Futtaim’s influence stretches beyond Dubai, with assets spanning across the Gulf region, including top-tier shopping destinations like the Mall of the Emirates, entertainment venues, hotels, and regional rights for global brands such as Lego. The group reported over $9 billion in revenue last year and remains a critical player in retail and tourism sectors, particularly as it champions Emiratisation and economic diversification in the UAE.

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