Green building standards and long term sustainability strategy secures Golden Excellence Shield Award from Arab Organisation for Social Responsibility
Dubai - Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, has been recognised by the Arab Organisation for Social Responsibility for its contribution towards helping Dubai along its path to become one of the top ten sustainable cities in the world by 2020.
The Arab Organisation for Social Responsibility nominated Majid Al Futtaim for implementing its five-year Sustainability and Green Building Policies, which have set the benchmark for developers not just in the UAE, but across the Middle East region. The company was awarded the highest honours and presented with a Golden Excellence Shield Award.
At the heart of Majid Al Futtaim's expansion strategy is a commitment to enhance people's lives through sustainable real estate. The company has set ambitious goals for 2018 to deliver results across three key areas - developing and managing high performance assets that support prosperous communities and in doing so deliver pioneering standards across its business.
Implementing this innovative governance structure for sustainability supports the Government's vision and also upholds the United Nations Global Compact, to which Majid Al Futtaim became a signatory in 2013. It has already achieved significant progress since the strategy was implemented two years ago including achieving high standards of energy efficiency by saving 6,000 tons of waste - equal to two Olympic size swimming pools.
Ibrahim Al Zubi, Head of Sustainability at Majid Al Futtaim, said: "The ambition to become one of the world's most sustainable cities by 2020 must be supported by the private sector working together in partnership with the Government to execute initiatives that will help achieve this goal. At Majid Al Futtaim we want to lead by example by applying international best practices across our entire business operations and portfolio of brands. In doing so we hope to transform the economic and social development of Dubai and the wider Middle East region."
Other areas where the company has made a significant impact across its assets include: AED1.5 million saved in hotels as a result of environmental investment, achieving LEED Gold certification on a third of its buildings including City Centre Mirdif, City Centre Fujairah and City Centre Beirut and contributed AED11.7 million towards community investment.
Al Zubi added: "Practically we want to develop and manage better buildings that are highly environmentally efficient to deliver social and economic benefits to our communities, customers and supply chain. By embedding sustainability in our business we increase the value of our brand, boost long-term profitability, create new business opportunities, and maintain our talented workforce."
Pierre Moukarzel, Founder and President of the Arab Organization for Social Responsibility said: "Majid Al Futtaim's achievements highlight the significant role that the private sector can play in developing sustainable business solutions. As corporate responsibility awareness grows across the Middle East region this will act as a catalyst for innovation across industries and geographies in support of important national goals."
Majid Al Futtaim was presented with the Golden Excellence Shield Award by the Arab Organisation for Social Responsibility, which aims to stimulate civil societies to engage in initiatives to improve sustainable development, at a ceremony held in Dubai on June 9th 2015.
The legal name of this company is "Majid Al Futtaim" and should not be shortened or replaced by an acronym to avoid confusion with another business entity.
Disclaimer: All facts and figures in this release are accurate at the time of issuance.
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About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (MENA).
A remarkable business success story, Majid Al Futtaim started from one man's vision to transform the face of shopping, entertainment and leisure to 'create great moments for everyone, every day'. It has since grown into one of the United Arab Emirates' most respected and successful businesses spanning 13 international markets, employing over 27,000 people, and achieving the highest credit rating (BBB) among privately-held corporates in the Middle East.
Majid Al Futtaim owns and operates 17 shopping malls, 11 hotels and three mixed-use communities in MENA, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, City Centre malls, and also four community malls which are in joint venture with the Government of Sharjah. The Company holds exclusive rights to the Carrefour franchise in 38 markets across Middle East, Africa and Central Asia, operating a portfolio of over 60 hypermarkets and over 70 supermarkets in 13 countries.
Majid Al Futtaim operates 143 VOX Cinema screens and 18 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai and iFly Dubai, among others. The Company launched the first LEGO-certified store in the Middle East and is parent to the consumer finance company issuing 'Najm' credit cards, a fashion retail business representing international brands such as Abercrombie & Fitch, Juicy Couture and Halston Heritage, and a healthcare business. In addition, Majid Al Futtaim launched Enova, a facility management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also operates in the food and beverage industry through a partnership with Gourmet Gulf.
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© Press Release 2015
