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Dubai, 20 January 2015 - Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, today announced the appointment of Michael Cesarz as Chief Executive Officer of its Shopping Malls Business Unit.
Ghaith Shocair, Chief Financial Officer and Acting Chief Executive Officer, Majid Al Futtaim Properties, said: "Our shopping malls business as the regional industry leader with 17 regional and community malls, is set to significantly expand and grow over the coming few years. We are committed to delivering on our Majid Al Futtaim promise of great moments for everyone, every day, through enhanced customer experiences, product innovation, and building great brands and Michael's leadership and experiences will be instrumental in delivering on our plans for this business".
Michael, an architect by training, is an accomplished leader and real estate executive with experience in design, development, project management and operations across several real estate asset classes including shopping malls.
His experience includes a number of senior management roles, such as CEO and Chairman of METRO Group Asset Management, Head of Construction and Member of the Board at Peek & Cloppenburg KG as well as other real estate project development roles.
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For further information please contact:
Charlotte Connerton
Brunswick Group
Phone: +971 43756283
Email: majidalfuttaim@brunswickgroup.com
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, and 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 12 international markets, employing over 26,000 people, and achieving the highest credit rating (BBB) among privately-held corporates in the Middle East.
Majid Al Futtaim owns and operates 16 shopping malls, 11 hotels and three mixed-use communities in MENA, with further developments underway in the region. This includes Mall of the Emirates, City Centre malls, and also 4 community malls which are in joint venture with the Government of Sharjah. It holds exclusive rights to the Carrefour franchise in 19 markets across MENA and Central Asia, operating a portfolio of over 50 hypermarkets and over 50 supermarkets in 12 countries.
Majid Al Futtaim operates 92 VOX Cinema screens and 17 Magic Planets across the region in addition to iconic leisure and entertainment facilities such as Ski Dubai and iFly Dubai among others. Majid Al Futtaim is parent to the consumer finance company issuing 'Najm' credit cards, a fashion retail business and a healthcare business. In addition, it also has a joint venture operation with Dalkia and has recently expanded into food & beverage in partnership with Gourmet Gulf.
© Press Release 2015