Dubai is setting up a special committee, to look after the affairs of the Emirati billionaire Majid Al Futtaim.
Regarded as the backbone of Dubai’s tourist and economic prosperity, the Emirati billionaire has properties across the nation.
The economic empire of the Al Futtaim family dates back to the 1930s when Dubai was still under the pearling hamlet before oil was discovered.
In what would become the United Arab Emirates.
Al Futtaim was a family commercial enterprise linked to the ruling Al Maktoum family of the city-state.
It became a trusted partner with foreign brands seeking business over the years, such as Toyota in 1955.
Other automobile manufacturers, as well as retail brands, followed suit.
His namesake enterprise, which includes VOX Cinemas and 29 malls in the Middle East, has more than two dozen malls around the area.
This includes the famed Mall of the Emirates in Dubai, which has an indoor mall.
"May God has mercy on our brother Majid Al Futtaim, the creative businessman and one of Dubai's most powerful merchants and senior figures," Al Maktoum wrote.
Al Futtaim, a great entrepreneur and one of Dubai’s most powerful businessmen and senior figures,” Al Maktoum stated.
“His most recent decision was to hire 3,000 people from the general public. May God has pity on him and sends him to his lush gardens,” he concluded.
Al Futtaim has a net worth of over $4 billion, according to Forbes. His net worth, according to Bloomberg, is above $6 billion.