Company: Abdullah Al-Othaim Markets Co
Country: Saudi Arabia
Wealth: 3.28 Billion
A member of the 2009 Arabian Business Saudi Rich List, Abdullah Bin Saleh Al Othaim moved onto the Gulf’s Richest Arabs list on the back of a strong 2010, which saw his company’s profits for the nine months ending September reach $29m, a 78 percent increase compared to 2009 figures.
The chairman of Abdullah Al Othaim Markets, Al Othaim has seen his company, established in 1956, grow from trading in foodstuff supplies to operating over 80 supermarkets and hypermarkets across Saudi Arabia.
The company has also expanded into real estate with the establishment of the Abdullah Al Othaim Investment and Real Estate Company which operates five ‘super-mega malls’ in Riyadh, Buraida, Al Ehsa and Damman. It currently has projects in Al Madinah, Jeddah, Mecca and Taif in development.