Al-Futtaim Group timeline: from Toyota in 1955 to IKEA, Ace and Watsons
Editorial
Al-Futtaim Group says it was founded in Dubai in the 1930s. Its own history page then gives dates from 1955, when it started delivering…
Verified
Abdulla Al Futtaim owns Al-Futtaim Group, the Dubai conglomerate that has been Toyota's exclusive distributor in the UAE since 1955. Forbes Middle East lists the group's UAE licences as including Hertz, IKEA, Toys "R" Us and Marks & Spencer, and notes that those retailers anchor its malls: Dubai Festival City, Dubai Festival Plaza, Doha Festival City and Cairo Festival City. His son Omar is vice chairman and chief executive of the group. When the group was divided in 2000, his cousin Majid took the property developments that became Majid Al Futtaim, who died in December 2021. Forbes Middle East estimated the net worth of Abdulla Al Futtaim and family at $2.4 billion in 2023, down $100 million from 2022, which ranked 1,272nd in the world, and at $4.7 billion in May 2026 on its Arab family business list. His age, education and early career were not given in the sources reviewed.
Editorial
Al-Futtaim Group says it was founded in Dubai in the 1930s. Its own history page then gives dates from 1955, when it started delivering…