Majid Al Futtaim
Coverage of Majid Al Futtaim in the Nexus archive.
- Dubai’s MAF plans $3.1B New Cairo development
Dubai’s Majid Al Futtaim and Egypt’s MIDAR for Investment and Urban Development signed a $3.1 billion deal to develop 6,000 residential units, hotels, and commercial spaces in New Cairo. The project follows increased UAE investments in Egypt, including a $35 billion agreement to develop Ras El Hekma, and reciprocal support like Egypt sending fighter jets to the UAE during the Iran war.
- Dubai developer invokes force majeure on home sales
Dubai developer Majid Al Futtaim has invoked force majeure clauses in home sales contracts at Tilal Al Ghaf due to disruptions from the Iran war, citing supply chain challenges and rising material costs. The company blames rerouted trade flows for delays in construction materials and higher shipping expenses, impacting project timelines and investor returns.