Latest news with #OmarAlFuttaim
Zawya
21-07-2025
- Business
- Zawya
UAE's Al-Futtaim to acquire 49.95% of Saudi's Cenomi Retail
RIYADH: Emirati conglomerate Al-Futtaim is to buy a 49.95% stake in Saudi Arabian franchiser Cenomi Retail in a deal worth more than 2.5 billion riyals ($667 million), Cenomi Retail said in a statement on Sunday. Cenomi Retail's founding shareholders signed a share purchase agreement with Al-Futtaim with shares priced at 44 riyals each, said the statement. As part of the share purchase agreement's completion conditions, the two companies are negotiating a shareholder loan of at least 1.3 billion riyals to boost Cenomi Retail's balance sheet. Cenomi Retail is a large franchiser in Saudi Arabia operating food and retail outlets, while Al-Futtaim of the United Arab Emirates is a private business group with operations ranging from financial services to real estate and retail. "This investment represents substantial foreign direct investment (FDI) from the UAE private sector and underscores the robust economic partnership between our countries," Al-Futtaim's Vice Chairman and CEO Omar al-Futtaim said in the statement. Saudi Arabia has been attempting to boost FDI as part of its Vision 2030 program to diversify the economy away from oil dependency and expand the private sector. ($1 = 3.7509 riyals) (Reporting by Pesha Magid; Editing by Aidan Lewis)
Reuters
20-07-2025
- Business
- Reuters
UAE's Al-Futtaim to acquire 49.95% of Saudi's Cenomi Retail
RIYADH, July 20 (Reuters) - Emirati conglomerate Al-Futtaim is to buy a 49.95% stake in Saudi Arabian franchiser Cenomi Retail in a deal worth more than 2.5 billion riyals ($667 million), Cenomi Retail said in a statement on Sunday. Cenomi Retail's founding shareholders signed a share purchase agreement with Al-Futtaim with shares priced at 44 riyals each, said the statement. As part of the share purchase agreement's completion conditions, the two companies are negotiating a shareholder loan of at least 1.3 billion riyals to boost Cenomi Retail's balance sheet. Cenomi Retail is a large franchiser in Saudi Arabia operating food and retail outlets, while Al-Futtaim of the United Arab Emirates is a private business group with operations ranging from financial services to real estate and retail. "This investment represents substantial foreign direct investment (FDI) from the UAE private sector and underscores the robust economic partnership between our countries," Al-Futtaim's Vice Chairman and CEO Omar al-Futtaim said in the statement. Saudi Arabia has been attempting to boost FDI as part of its Vision 2030 program to diversify the economy away from oil dependency and expand the private sector. ($1 = 3.7509 riyals)
Mid East Info
07-05-2025
- Automotive
- Mid East Info
Al-Futtaim Celebrates 70+ Years of Contributing to UAE-Japan Relations - Middle East Business News and Information
Al-Futtaim has been a key player in the UAE-Japan economic partnership for 70+ years, bringing Japanese excellence in automotive, technology, and lifestyle to its customers Iconic brands including Toyota, Lexus, Seiko, Panasonic and Toshiba are exclusively represented by Al-Futtaim across the Middle East Al-Futtaim is participating at the UAE Pavilion in Expo 2025 in Osaka, highlighting the role of collaboration and partnerships in advancing sustainability and innovation Dubai, United Arab Emirates; May , 2025: Al-Futtaim, one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, is proud to celebrate over 70 years of successful partnerships with Japan and its globally iconic brands. This enduring relationship underscores Al-Futtaim's commitment to fostering international collaboration and bringing world-class products and services to the Middle East. Over the decades, Al-Futtaim has partnered with a diverse portfolio of leading Japanese brands, including Toyota, Lexus, Honda, Panasonic, Seiko, Toyota Material Handling, Toto, Hino, Toshiba, Yanmar, and Hitachi. These partnerships have been instrumental in introducing cutting-edge technologies, high-quality products, and exceptional customer service to the UAE market, contributing to the vibrant economic exchange between the two countries. 'For 70 years, the Al-Futtaim Group has been a key bridge between the UAE and Japan, fostering long-lasting relationships built on trust, shared values, and common aspirations. Abdulla Al Futtaim's entrepreneurial foresight all those years ago laid the foundation for an enduring alliance that has since expanded to include a portfolio of leading Japanese brands. As the third generation of our family to lead the Group — with the fourth generation already active in the business — I am proud that our partnership with Japan has not only stood the test of time but has also helped shape the future. Our continued collaboration with leading Japanese brands reflects not only a deep commitment to excellence and innovation, but also our dedication to consistently driving progress across multiple sectors,' said Omar Al Futtaim, Vice Chairman and Chief Executive Officer, Al-Futtaim. 'Looking ahead, we are committed to growing these relationships by forging new, innovative partnerships with Japanese companies, ensuring that our collaboration remains a cornerstone of the UAE-Japan relationship for generations to come.' 'We are honoured to welcome Mr. Omar Al Futtaim to the UAE Pavilion at EXPO OSAKA 2025. His family's legacy as the distributor of Toyota vehicles in the UAE since 1955 stands as a testament to the enduring partnership between our nations,' remarked His Excellency Shihab Al Faheem, Ambassador Extraordinary and Plenipotentiary of the United Arab Emirates to Japan and Commissioner General of the UAE Pavilion at Expo 2025 Osaka. 'For over 70 years, private business relations between Japan and the UAE have flourished—built on mutual respect, trust, and shared vision. From pioneering companies like Toyota to other leading Japanese enterprises such as Honda, Mitsubishi, Sumitomo, and Hitachi, these collaborations have played a vital role in strengthening the economic and cultural bonds between our countries. The UAE Pavilion proudly showcases these deep-rooted ties and celebrates a future of continued innovation and cooperation.' Al-Futtaim's commitment to Japan aligns with the UAE's own long-standing relationship with the country, which was one of the first to recognise the UAE as an independent state on 3 December 1971 and established diplomatic relations on 6 May 1972. The UAE's participation in the Osaka Expo 1970 further underscores the early connection between the two nations. The UAE is Japan's top trading partner in the Arab world in terms of exports and imports, accounting for nearly 40% of Japan's total exports to the UAE. Meanwhile, Japan is among the UAE's top 10 trading partners. The two nations have also initiated efforts to establish a Comprehensive Economic Partnership Agreement (CEPA), which will foster new avenues for collaboration and support the sustainable economic growth of both nations and their people. Bringing iconic brands to the Middle East: Al-Futtaim's multi-sector partnership with Japan spans automotive, lifestyle, technology, and infrastructure. Toyota remains a market leader in the UAE, and Al-Futtaim's retail partnerships have introduced Japanese excellence in fashion, electronics, and mobility to millions of customers across the region. Al-Futtaim has continually invested in sustainable mobility and advanced logistics, helping bring Japanese innovation to everyday life. 'Our 70-year partnership with Toyota reflects Al-Futtaim's enduring commitment to excellence and innovation in the automotive industry. We deeply value this collaboration and Toyota's relentless Kaizen approach to continuous improvement, which has been central to our shared success. Together, we have established Toyota as the most successful automotive brand and a clear market leader in the UAE, delivering quality, reliability, and innovation to generations of customers. This partnership underscores Al-Futtaim's pivotal role in shaping the region's automotive landscape and driving the future of mobility,' said Paul Willis, President at Al-Futtaim Automotive. Hirokazu Yoshida, Executive Officer, Panasonic Corporation, shared: 'For over 50 years, Al-Futtaim has been a trusted partner in bringing Panasonic's innovations to the Middle East. Their deep understanding of the regional market and commitment to excellence has allowed us to deliver products that enhance everyday life. Together, we've built a long-lasting relationship grounded in trust and shared values. We look forward to continuing this collaboration, driving innovation and realizing holistic wellbeing in the region for many years to come.' Akio Naito, President, Seiko Watch Corporation said: 'Seiko and Al-Futtaim share a long tradition of craftsmanship, trust, and innovation. Their dedication to excellence has helped us reach new audiences and tell our brand story in a region that appreciates precision, design, and heritage. We are proud to celebrate this 70-year journey together.' From April to October 2025, Al-Futtaim will proudly participate in the UAE Pavilion at Expo 2025 Osaka. This engagement underscores the shared values of innovation and sustainability between the UAE and Japan, aligned with Expo 2025's theme of 'Designing Future Society for Our Lives.' Al-Futtaim's role at Expo 2025 also represents a full-circle moment for the UAE's participation in World Expos hosted by Osaka, celebrating a rich legacy while looking to the future. As the region looks toward a more connected, sustainable, and tech-driven future, Al-Futtaim remains committed to being a bridge between the UAE and Japan, continuing to move nations forward—together. About Al-Futtaim: Established in the 1930s as a trading business, Al-Futtaim today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions—automotive, financial services, real estate, retail, and health—Al-Futtaim employs more than 33,000 people across over 20 countries in the Middle East, Asia, and Africa. Its portfolio includes partnerships with over 200 of the world's most renowned and innovative brands. Driven by an entrepreneurial spirit and a steadfast commitment to meeting customer needs, Al-Futtaim continues to grow and evolve, aligning with the changing demands of the communities it serves. Anchored by its core values of respect, excellence, collaboration, and integrity, Al-Futtaim consistently enriches the lives and aspirations of its customers.
Al Bawaba
06-05-2025
- Automotive
- Al Bawaba
Al-Futtaim Celebrates 70+ Years of Contributing to UAE-Japan Relations
Dubai, United Arab Emirates; May 6, 2025: Al-Futtaim, one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, is proud to celebrate over 70 years of successful partnerships with Japan and its globally iconic brands. This enduring relationship underscores Al-Futtaim's commitment to fostering international collaboration and bringing world-class products and services to the Middle East. Over the decades, Al-Futtaim has partnered with a diverse portfolio of leading Japanese brands, including Toyota, Lexus, Honda, Panasonic, Seiko, Toyota Material Handling, Toto, Hino, Toshiba, Yanmar, and Hitachi. These partnerships have been instrumental in introducing cutting-edge technologies, high-quality products, and exceptional customer service to the UAE market, contributing to the vibrant economic exchange between the two countries. 'For 70 years, the Al-Futtaim Group has been a key bridge between the UAE and Japan, fostering long-lasting relationships built on trust, shared values, and common aspirations. Abdulla Al Futtaim's entrepreneurial foresight all those years ago laid the foundation for an enduring alliance that has since expanded to include a portfolio of leading Japanese brands. As the third generation of our family to lead the Group — with the fourth generation already active in the business — I am proud that our partnership with Japan has not only stood the test of time but has also helped shape the future. Our continued collaboration with leading Japanese brands reflects not only a deep commitment to excellence and innovation, but also our dedication to consistently driving progress across multiple sectors,' said Omar Al Futtaim, Vice Chairman and Chief Executive Officer, Al-Futtaim. 'Looking ahead, we are committed to growing these relationships by forging new, innovative partnerships with Japanese companies, ensuring that our collaboration remains a cornerstone of the UAE-Japan relationship for generations to come.' 'We are honoured to welcome Mr. Omar Al Futtaim to the UAE Pavilion at EXPO OSAKA 2025. His family's legacy as the distributor of Toyota vehicles in the UAE since 1955 stands as a testament to the enduring partnership between our nations,' remarked His Excellency Shihab Al Faheem, Ambassador Extraordinary and Plenipotentiary of the United Arab Emirates to Japan and Commissioner General of the UAE Pavilion at Expo 2025 Osaka. 'For over 70 years, private business relations between Japan and the UAE have flourished—built on mutual respect, trust, and shared vision. From pioneering companies like Toyota to other leading Japanese enterprises such as Honda, Mitsubishi, Sumitomo, and Hitachi, these collaborations have played a vital role in strengthening the economic and cultural bonds between our countries. The UAE Pavilion proudly showcases these deep-rooted ties and celebrates a future of continued innovation and cooperation.' Al-Futtaim's commitment to Japan aligns with the UAE's own long-standing relationship with the country, which was one of the first to recognise the UAE as an independent state on 3 December 1971 and established diplomatic relations on 6 May 1972. The UAE's participation in the Osaka Expo 1970 further underscores the early connection between the two nations. The UAE is Japan's top trading partner in the Arab world in terms of exports and imports, accounting for nearly 40% of Japan's total exports to the UAE. Meanwhile, Japan is among the UAE's top 10 trading partners. The two nations have also initiated efforts to establish a Comprehensive Economic Partnership Agreement (CEPA), which will foster new avenues for collaboration and support the sustainable economic growth of both nations and their people. Bringing iconic brands to the Middle East Al-Futtaim's multi-sector partnership with Japan spans automotive, lifestyle, technology, and infrastructure. Toyota remains a market leader in the UAE, and Al-Futtaim's retail partnerships have introduced Japanese excellence in fashion, electronics, and mobility to millions of customers across the region. Al-Futtaim has continually invested in sustainable mobility and advanced logistics, helping bring Japanese innovation to everyday life. "Our 70-year partnership with Toyota reflects Al-Futtaim's enduring commitment to excellence and innovation in the automotive industry. We deeply value this collaboration and Toyota's relentless Kaizen approach to continuous improvement, which has been central to our shared success. Together, we have established Toyota as the most successful automotive brand and a clear market leader in the UAE, delivering quality, reliability, and innovation to generations of customers. This partnership underscores Al-Futtaim's pivotal role in shaping the region's automotive landscape and driving the future of mobility,' said Paul Willis, President at Al-Futtaim Automotive. Hirokazu Yoshida, Executive Officer, Panasonic Corporation, shared: 'For over 50 years, Al-Futtaim has been a trusted partner in bringing Panasonic's innovations to the Middle East. Their deep understanding of the regional market and commitment to excellence has allowed us to deliver products that enhance everyday life. Together, we've built a long-lasting relationship grounded in trust and shared values. We look forward to continuing this collaboration, driving innovation and realizing holistic wellbeing in the region for many years to come.' Akio Naito, President, Seiko Watch Corporation said: 'Seiko and Al-Futtaim share a long tradition of craftsmanship, trust, and innovation. Their dedication to excellence has helped us reach new audiences and tell our brand story in a region that appreciates precision, design, and heritage. We are proud to celebrate this 70-year journey together.' From April to October 2025, Al-Futtaim will proudly participate in the UAE Pavilion at Expo 2025 Osaka. This engagement underscores the shared values of innovation and sustainability between the UAE and Japan, aligned with Expo 2025's theme of 'Designing Future Society for Our Lives.' Al-Futtaim's role at Expo 2025 also represents a full-circle moment for the UAE's participation in World Expos hosted by Osaka, celebrating a rich legacy while looking to the future. As the region looks toward a more connected, sustainable, and tech-driven future, Al-Futtaim remains committed to being a bridge between the UAE and Japan, continuing to move nations forward—together.
