In a region defined by ambitious development projects, evolving consumer expectations, and rapidly growing urban communities, few organizations have had as profound an impact as Majid Al Futtaim. At the center of its current transformation is Ahmed El Shamy Ismail, the executive leading the group into a new phase of growth, innovation, and regional expansion.
Appointed Group Chief Executive Officer in January 2023 after previously serving as CEO of Majid Al Futtaim Properties, Ismail brings extensive experience in real estate development, destination creation, and business transformation. His leadership comes at a time when the company continues to strengthen its position across retail, entertainment, hospitality, and mixed-use developments throughout the Middle East and beyond.
Leading a Regional Business Powerhouse
Majid Al Futtaim has evolved into one of the region’s most diversified and influential business groups, with assets exceeding $19 billion and a workforce of approximately 41,000 employees.
The company’s portfolio spans shopping malls, retail operations, entertainment destinations, hospitality assets, and integrated communities that collectively serve millions of customers each year.
Under Ismail’s leadership, the group continues to focus on enhancing customer experiences while investing in projects that support long-term economic and social development.
The company’s strong performance was reflected in the first half of 2025, when it generated revenues of approximately $4.7 billion, demonstrating resilience and sustained growth across its diverse business operations.
Reimagining Mall of the Emirates
One of the most significant initiatives announced under Ismail’s leadership came in April 2025, when the group unveiled a major $1.3 billion investment plan to transform the iconic Mall of the Emirates.
The redevelopment project will add approximately 20,000 square meters of new retail space while introducing enhanced experiences designed to meet evolving consumer preferences.
As one of the UAE’s most recognized retail and lifestyle destinations, Mall of the Emirates has long been a symbol of innovation in retail development. The latest investment reflects the group’s commitment to ensuring the destination remains at the forefront of global shopping, entertainment, and hospitality experiences.
The project also reinforces Dubai’s position as an international hub for retail tourism and lifestyle innovation.
Expanding into New Growth Markets
Alongside investments in existing assets, Majid Al Futtaim continues to expand its footprint across key regional markets.
In 2025, the group launched Junction, a new business park in Cairo designed to bring together commercial, retail, and hospitality experiences within an integrated environment.
The development reflects the company’s broader strategy of creating mixed-use destinations that support business growth while offering vibrant environments for work, leisure, and community engagement.
Projects such as Junction demonstrate the organization’s ability to adapt to changing market needs while creating long-term value through integrated urban development.
A Career Built on Destination Creation
Before becoming Group CEO, Ismail led Majid Al Futtaim Properties, where he played an important role in developing some of the region’s most prominent real estate and lifestyle destinations.
His experience in large-scale development projects has shaped a leadership approach centered on innovation, customer-centric design, and creating environments that combine commercial success with meaningful community impact.
This background continues to influence the group’s strategy as it invests in transformative projects across multiple sectors.
Contributing to the Broader Financial Ecosystem
Beyond his responsibilities within Majid Al Futtaim, Ismail also serves on the board of Bank NXT.
His involvement in the financial sector provides additional perspective on investment, economic growth, and the evolving relationship between finance, real estate, and consumer markets.
This cross-sector experience strengthens his ability to guide strategic decision-making within a rapidly changing business environment.
Shaping the Future of Lifestyle and Urban Development
As consumer expectations continue to evolve and cities increasingly prioritize integrated living, working, and entertainment experiences, organizations must continually innovate to remain relevant.
Under Ahmed El Shamy Ismail’s leadership, Majid Al Futtaim is investing in transformative projects that redefine how people shop, work, connect, and experience urban environments.
From the redevelopment of Mall of the Emirates to the launch of new mixed-use destinations such as Junction, his vision reflects a commitment to creating long-term value through innovation, sustainability, and customer experience.
As the company continues its next chapter of growth, Ismail remains focused on strengthening Majid Al Futtaim’s position as one of the Middle East’s leading developers of destinations that shape communities, drive economic growth, and enhance everyday life.
