With a net worth of $2.6 billion, Abdulla Al Futtaim is an Arab entrepreneur.
Abdulla Al Futtaim was born to the family that established and manages the massive conglomerate Al Futtaim Group.
Abdulla Al Futtaim’s fortune was primarily derived from his involvement in the automobile sector of the group that markets Toyota, Lexus, Honda, Dodge, Volvo, Jeep, and Chrysler, among other brands.
Despite his reputation as the ‘king of the road’, Abdullah’s interests extend beyond the automobile industry to include retail and real estate. In 2000, the family split up, with Abdullah Al Futtaim acquiring the automotive and retail business, and his brother Majid taking over the property development business, known as Majid Al Futtaim Group.
Due to the turmoil in Egypt, the opening of Dubai’s Festival City has been delayed several times, despite the construction work of the Al Futtaim conglomerate costing over $2bn.
Despite this, the property’s mall, comprising of hotels, offices, residences, retail stores, and a golf course, is slated to commence operations in the summer of 2013.
Qatar’s Doha Festival City is a significant real estate project that the group is currently working on, with a final completion date set for 2014.