Appointment will support the company's strategic growth plans

Dubai, United Arab Emirates, 24 March 2015

Majid Al Futtaim, the leading retail and leisure pioneer across the Middle East and North Africa (MENA) has announced the appointment of Bertrand Julien-Laferriere as Chief Executive Officer of Majid Al Futtaim Properties. The appointment will support the company's strategic focus ambitious growth plans to expand the business throughout the MENA region.

Mr. Julien-Laferriere joined in February 2015 and is responsible for the overall growth of the group's entire property portfolio worth US$ 10 billion, in addition to the pipeline of development projects. The portfolio comprises 17 shopping malls, which includes the Mall of the Emirates in Dubai and the City Centre mall network - the largest in the Middle East, plus 11 hotels and three mixed-use communities in MENA.

Commenting on the appointment, Alain Bejjani, Chief Executive Officer of Majid Al Futtaim - Holding, said: "Bertrand has extensive experience in international development and in managing real estate firms over the past 30 years. His appointment will help strengthen Majid Al Futtaim's regional leadership position and I know he will play an instrumental role to support the future of the company and our next phase of growth."

Mr. Julien-Laferriere was the Managing Director of the world famous Ricardo Bofill design practice and has worked in hospitality, with worldwide responsibilities for Accor Hotels and Club Méditerranée. Prior to joining Majid Al Futtaim he has held executive positions for both listed and non-listed real estate firms including Chief Development Officer and Member of the Management Board of Unibail-Rodamco, the largest real estate investment trust in Europe specialising in shopping malls. This was before his appointment as Chief Executive Officer of Societe Fonciere Lyonnaise in 2010, a French listed real estate company with a USD$5 billion of prime office and commercial assets in Paris Central Business District.

Following the appointment Ghaith Shocair will resume his role of Chief Financial Officer for Majid Al Futtaim Properties after stepping in as Acting CEO since September 2014. Alain Bejjani extended his warmest thanks to Ghaith Shocair, Chief Financial Officer, for his role as interim CEO of Majid Al Futtaim Properties since September 2014.

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Joanna Spinks
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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 12 international markets, employing 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. It holds exclusive rights to the Carrefour franchise in 38 markets across Middle East, Africa and Central Asia, operating a portfolio of over 55 hypermarkets and over 65 supermarkets in 12 countries.

Majid Al Futtaim operates 129 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 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, it also has a joint venture operation with Dalkia and has recently expanded into food and beverage in partnership with Gourmet Gulf.

© Press Release 2015