ArabianBusiness.com - Middle East Business News
Monday, 09 November 2009 03:29 UAE time
 
19#  Khalaf Al Habtoor  - picture not available
19# Khalaf Al Habtoor

Net Worth: US$ 3.8 Billion
Country of Residence: United Arab Emirates
Companies: Al Habtoor Group
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The best way to predict the future is to create it," said Khalaf Al Habtoor, chairman and founder of Al Habtoor Group at a dinner this summer celebrating its 35th anniversary.

Just as the name of the United Arab Emirates has become synonymous with trade and enterprise all over the world, the name of the Al Habtoor Group, with its dynamic business culture, has become a truly international company that is able to trade successfully anywhere on the planet." Al Habtoor Group is truly a national success story, mirroring both Dubai's and the UAE's growth, as they registered a massive 284% increase in revenue with a net profit that escalated by 737%, over the last decade. But it also has employees - whose number has grown from 5,577 to 22,397 between 1995 and 2005 - from 45 different countries.

In 1970 Khalaf Al Habtoor left his job with a local construction from to start his own company, Al Habtoor Engineering. The timing couldn't have been better, with the formation of the UAE giving him the chance to bid - and win - some of the biggest turnkey construction projects that soon followed.

His well-connected father, Ahmed Mohammed Al Habtoor, first introduced the young Khalaf Al Habtoor, to Sheikh Rashid bin Saeed Al Maktoum, the two men clicked and soon began to map out some of region's most ambitious developments. Today, Al Habtoor is a diverse group with interests in engineering, real estate, motors, hotels, leasing and even publishing.

The Group is involved in many landmark projects within the Emirates, such as the imposing Burj Al Arab hotel. Other successes include the Jumeirah Beach Resort and the Concourse Building of Dubai International Airport. But this is only the beginning. Its motoring division is now the exclusive UAE agent for Bentley, Mitsubishi and Aston Martin and the 41-storey Al Habtoor Marina Tower in Dubai Marina, will soon showcase the prestige marks of Aston Martin, Bentley and Bugatti on behalf of the groups Al Habtoor Motors division.

No official figures are released but a mere glance at its recent projects, notably in construction, put average annual sales of over US$500m. As the founder, Al Habtoor himself is easily worth over US$1bn. He is very well connected, having hosted Princess Anne at the Dubai Horse Show and attended charity lunches given by Prince Charles. He is also known for trying to persuade Hollywood movie producers to use Dubai as a future location for blockbusters.
 

 
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