Arabian Business Rich List 2010
Thu 16 Dec 2010 10:41 AM
Mubarak Al Suwaiket
15

Mubarak Al Suwaiket

Industry: Construction & Industry

Company: Al Suwaiket Group

Country: Saudi Arabia

Wealth: 5.2 Billion

Sheikh Mubarak Al Suwaiket and his Trading and Contracting Company have become a leading force in the kingdom’s construction industry, as well as other sectors. With its vast experience in the  construction industry, Al Suwaiket has been credited with a number of high profile projects in Saudi Arabia.

“The past ten years were remarkable for Al Suwaiket, a decade that brought our group of companies’ noticeable growth and very favourable developments,” the businessman says on the company’s website.

The last decade has seen the company broaden its business base, namely the establishing of the oil, gas and pipelines services division, educational services, legal consultations and the establishment of many industrial ventures.

The conglomerate has offices in Al Khobar, Riyadh, Jeddah, across the Middle East region and in Europe. Its expansion outside the kingdom has seen it undertake international interests in different sectors such as education, energy, general trading, travel and transportation, catering and life support, agriculture, family and labour accommodation and real estate investments.

As chairman of the group, Sheikh Mubarak’s current passion is for the luxury yacht market and he was one of the main speakers at the inaugural Shared Ownership Fractional Summit held at Yas Island, which is involved in introducing the concept of fractional super yacht ownership to the Gulf.

“The joy of owning a luxurious yacht is an exclusive experience that reflects your wealth and status in this world. It is like a floating luxurious palace or an exclusive fabulous island that reflects success and high social status. After the global financial crisis and with rising costs and the time involved in yacht maintenance, it became inevitable that people would have to find a way to manage these costs while keeping the image and the social status,” he said.