Majid al-Futtaim (MAF) has reported its audited financial statements for 2015. Net income grew by 28.8% to reach AED3.3 billion in 2015. Revenue grew 8.2% to reach AED27.3 billion EBITDA rose 6.9% to AED3.8 billion, translating into an EBITDA margin of 13.9%. MAF’s properties business contributed 68% of EBITDA and retail 31%. In 2015, MAF completed the expansion of two shopping malls. It also opened 25 new Carrefours in the region. It issued a USD500 million 10-year sukuk in November, with a coupon rate of 4.5%. The group is planning a USD3.7 billion retail investment in Saudi Arabia. (MEED)