MAF posts Dhs1.9bn in 2013 net income
Dubai-based shopping mall, retail and leisure developer Majid Al Futtaim (MAF) Holding has said its full-year net profit rose in 2013 to Dhs1.9bn from Dhs1.6bn in the previous year, Gulf News has reported. The company’s revenue reached Dhs23bn last year, up 10% over 2012, while total assets reached more than Dhs39bn. Net debt touched Dhs7bn, MAF said. The company owns and operates 17 shopping malls, 11 hotels and three mixed-use communities in the Middle East and North Africa.