Majid Al Futtaim saw their profit increase by one percent last year to an eye-watering $1.25 billion. Additionally, the company said that operational cash flow amounted to 122 percent of EBITDA (earnings before interest, taxes, depreciation, and amortization). The company’s total assets were valued at AED 63 billion.

“Majid Al Futtaim’s financial performance is driven by a sustainable business model that continues to deliver growth for the company,” CEO Alain Bejjani said. “In 2019, we advanced our diversification efforts by entering new countries and expanding out footprint in priority markets, while maintaining strong financial discipline across our portfolio.”