Industry: Real Estate
Company: Dubai Pearl
Country: United Arab Emirates
Abdul Majeed Ismail Al Fahim, the chairman of real estate developer Dubai Pearl, has found himself in a unique position this year. After all, there are very few Dubai-based developers who have been able to say that their projects — luxury ones at that — are forging ahead despite the downturn.
Dubai Pearl is a $4.08bn project overlooking
’s Palm Jumeirah, which consists of four 73-storey mixed-use towers as well as retail and leisure facilities to house a population of 20,000. He took over the project in 2007 following delays led by the Dubai Technology, e-Commerce & Media Free Zone (TECOM), the zone in which the project is located, remodeling the project and removing the structure, increasing its value from $2.5bn to $4bn.
Prior to his work with the Al Fahim Group, Al Fahim was the executive director of the private office for a member of the Abu Dhabi ruling family. He has also held several key positions at the leading financial institutions in the Middle East, as senior management member in
National Bank of Abu Dhabi
, vice chairman at Islamic Financial Consultancy and head of projects and direct investment at Abu Dhabi Investment Company.