In the dynamic landscape of global business, Arab entrepreneurs have played a significant role in shaping industries, fostering innovation, and driving economic growth. Their influence transcends borders, impacting not only the Arab world but also resonating on a global scale. Among the plethora of influential Arab businessmen and women, several stand out for their remarkable contributions, vision, and entrepreneurial spirit.
One such luminary is Emirati billionaire and philanthropist Abdul Aziz Al Ghurair, whose diverse business interests span across multiple sectors, including construction, banking, real estate and energy. Through his organisation, Al Ghurair has spearheaded transformative projects that have fuelled economic development in the UAE. His visionary leadership and strategic investments have positioned him as a driving force behind infrastructure development and economic expansion in the region.
Another towering figure is Lubna Olayan, a trailblazing businesswoman from Saudi Arabia. As the CEO of Olayan Financing Company, she has shattered glass ceilings and paved the way for women in the male-dominated world of finance and investment. Olayan’s commitment to corporate governance, innovation, and social responsibility has not only propelled her own company to success but has also inspired a new generation of female entrepreneurs in the Arab world.
In the realm of technology and entrepreneurship, Ronaldo Mouchawar has indeed left an indelible mark. As the co-founder of souq.com (acquired by Amazon in 2017), he revolutionised the digital retail landscape in the Middle East, providing a platform for communication, collaboration, and commerce. His pioneering efforts laid the groundwork for the region’s burgeoning retail and e-commerce startup ecosystem, catalysing innovation and fostering entrepreneurship across borders.
Chairman and CEO of Emirates Airline and Group Sheikh Ahmed bin Saeed Al Maktoum has played a pivotal role in shaping Dubai’s economic landscape. His leadership in establishing Emirates and Dubai Aerospace Enterprise has propelled the emirate onto the global stage. With a blend of innovation and strategic foresight, he continues to drive growth, fostering prosperity and connectivity for Dubai and beyond.
These exemplary leaders demonstrate the spirit of innovation, resilience, and leadership that defines Arab entrepreneurship. Their success stories serve as beacons of inspiration for aspiring entrepreneurs, symbolising the transformative power of vision, determination and hard work in overcoming obstacles and achieving greatness in the world of business. As they continue to chart new frontiers and push the boundaries of possibility, their legacy will endure as a testament to the enduring impact of Arab entrepreneurship on the global stage.
Name: Abdallah Sultan Al Owais
Designation: Chairman
Company: Rawabi Emirates Group, Sharjah Chamber of Commerce and Industry and Sharjah Expo Centre
Industry: Government
In his role at the Sharjah Chamber of Commerce and Industry and Expo Centre Sharjah since May 2014, Al Owais has played a key role in promoting business growth as well as trade opportunities in the region. Also serving as vice chairman of the Federation of UAE Chambers of Commerce and Industry since December 2014, he collaborates with industry leaders to advance economic development.
Having held various board positions, including the Federation of UAE Chambers of Commerce and Industry, the Sharjah Chamber of Commerce and Industry, and the Germany-Arab Chamber of Commerce, Al Owais has a diverse range of industry experience. He embarked upon his career after he graduated from the United Arab Emirates University (UAEU) with a bachelor’s degree in Business Management in 1990.
He began working in the Ministry of Economy and Commerce between 1990 and 2003, and later joined the Ministry of Energy as the deputy minister. His tenure at these esteemed institutions not only showcased his dedication and commitment to public service but also provided him with invaluable insights and experiences that would shape his future leadership roles in the business sector.
Al Rawabi Dairy
Al Owais is also the chairman of Al Rawabi Dairy, the UAE’s biggest dairy that was established in 1989, and through his leadership, has steered and shaped Al Rawabi’s journey to become a pioneer dairy company in the Middle East. Setting new standards across global best practices, under Al Owais’ leadership, Al Rawabi Dairy is the first dairy company to introduce plastic milk bottles in the UAE in 1991.
It is also the first company to bring fresh juices in 1995 to the GCC region. The dairy is also the first company to launch functional dairy products into the market with plans that include an environmentally friendly biogas plant. Furthermore, he actively engages in the business sector, while also contributing to the educational sector as head of the executive committee of Sharjah Institute of Technology.
Al Owais has demonstrated his commitment to promoting economic development through his involvement in various committees, such as the Secretariat-General Investment Sectorial Committee of the Federation of GCC Chambers as well as the Gulf Industry and Promotion Committee of the Federation of GCC Secretariat-General. An active participant in the Arab pavilion of the Joint Austrian-Arab Chamber of Commerce, he leverages his expertise in the industrial, educational, banking, and food industries to drive private investments and support economic growth.
With diverse experience across various sectors, Al Owais was also a board member of Emirates NBD from 2005 to 2013. He has also occupied multiple positions at the UAE Ministry of Economy and Commerce since 1990 to 2003. Al Owais has been a driving force in bridging opportunities across sectors and creating a more robust business environment in the region.
Name: Abdul Aziz Al Ghurair
Designation: Chairman
Company: Al Ghurair Investment
Industry: Diversified
In addition to his current role, Al Ghurair also holds the directorship of the Abdullah Al Ghurair Group of Companies, a business legacy with a presence in over 20 countries and over 50 years of history. Before his role as the chairman of the board of directors at Mashreq Bank, he spent around three decades as the bank’s CEO. He is also on the board of directors of his family’s extensive Abdulla Al Ghurair Group, a venture that spans numerous countries.
Throughout his career, he has held vital positions on the boards of entities like Mastercard, Visa International, Dubai Investments, Emaar, and the Dubai Chamber of Commerce and Industry. His leadership extended to co-chairing the Arab Business Council-World Economic Forum (WEF), showcasing his influence in global economics.
Al Ghurair’s commitment to advancing knowledge is evident in his role as a board member of trustees at New York University, USA. He has also contributed to the Consultative GCC Council for the GCC Leaders and held the position of the president of The Knowledge Fund.
About Al Ghurair Investment (AGI)
Established in 1960 and headquartered in Dubai, Al Ghurair Investment (AGI) spans six industry sectors. With operations expanding across over 50 countries and a workforce of around 28,000 individuals, AGI has become a driving force in multiple domains. As a prominent diversified family business group in the UAE, AGI has been named a Top Employer in the country for the second consecutive year by the Top Employers Institute. This recognition reflects the group’s ongoing efforts to create a supportive environment for learning and employee development, in alignment with Sustainable Development Goal 8 (SDG 8) – promoting decent work and economic growth.
The Top Employers Institute programme evaluates organisations based on their HR Best Practices Survey results, covering six HR domains and 20 topics such as People Strategy, Work Environment, Talent Acquisition, and Wellbeing. Al Ghurair’s acknowledgment underscores its commitment to unleashing the full potential of its workforce, as evidenced by positive feedback from a recent company-wide people opinion survey highlighting transparency and effective alignment of people strategies with business objectives.
In the past three years, Al Ghurair has embarked on a transformation journey, incorporating the ‘Fit for Future’ model into its ‘Employee Value Proposition’ and talent strategy to support employee engagement and advancement. This programme, in line with the group’s focus on SDG 8, aims to enhance skills and career paths across its diverse talent pool. Initiatives such as Executive Leadership Development and Advanced Leadership Development Programmes have been successful in driving professional growth, with participants amassing over 6,000 learning hours.
Furthermore, Al Ghurair’s commitment to advancing Emirati talent through a robust Emiratisation programme underscores its dedication to fostering diversity and empowering local individuals within the organisation. Through internal initiatives and strategic partnerships with key entities in the UAE, the group has created opportunities for Emiratis to thrive within the company.
Name: Abdulaziz Al-Sowailim
Designation: Chairman and CEO
Company: EY MENA
Industry: Finance
Abdulaziz Al-Sowailim leads the EY MENA management team as EY MENA Chairman and CEO and is a member of the Board of Management of EY’s Europe, Middle East, India and Africa area (EMEIA), which is EY’s largest geographical area worldwide. During his tenure, Al-Sowailim has been a vocal advocate of the EY purpose of building a better working world, helping to create long-term value for clients, people, and society as well as build trust in the capital markets.
A century in the making
Most recently he has seen EY celebrate 100 years in the MENA region, having established its first regional office in 1923. Al-Sowailim believes that the strength of the EY legacy comes from harnessing the power of its people and network to create sustainable and inclusive growth.
EY is proud to support visionary policymakers and local governments as they embrace cutting-edge technologies to develop cities of the future and reshape economies to benefit generations to come.
EY has made a number of large investments in MENA over the past 15 years to grow its capabilities and offerings for clients. As a result, the EY MENA practice has grown to over 8,000 people united across 26 offices and 15 countries, including over 500 partners with highly specialised competencies to address the evolving needs of clients. In a rapidly changing world, this is a testament to the enduring impact the organisation has made in the countries it operates in.
As a Saudi national, Al-Sowailim is especially proud of the investments being made by EY in Saudi Arabia to support the nation’s ongoing journey to becoming a global powerhouse. EY Wavespace, which brings together business, design, and technology to bolster accelerated transformation and create measurable outcomes, will soon have a flagship location in Riyadh. The state-of-the-art centre is designed to act as a powerful accelerator for innovation and strategic development, aligning with the bold ambitions set forth by Vision 2030.
Furthermore, the global EY organisation launched EY.ai, a unifying platform that brings together human capabilities and artificial intelligence (AI) to help clients transform their businesses through confident and responsible adoption of AI. EY investments of $1.4bn have provided the foundation for the platform, which leverages leading-edge EY technology platforms and AI capabilities, with deep experience in strategy, transactions, transformation, risk, assurance, and tax – all augmented by a robust AI ecosystem.
EY MENA will continue to build upon its legacy and create long-term value for local communities with youth development programmes, entrepreneur mentorships, and by guiding the next generation workforce. This, along with strategic partnerships, sustainability programmes, and an unwavering commitment to quality, reaffirms its position as the largest and most established professional services organisation in the region.
Name: Abdulla Al Khalifa
Designation: Group CEO
Company: QNB Group
Industry: Banking
With a diverse business and finance career spanning over two decades, Al Khalifa has held numerous posts within the QNB banking group, including chief business officer and executive general manager. Since 2018, he has served as a board member for Ooredoo, Qatar’s multinational telecommunications company. His experience spans risk management, finance, business, M&A, sales and marketing, and strategic planning. Al Khalifa joined the company in March 1996 and in 2007, was appointed to the role of general manager for QNB’s Corporate Banking Group.
He is also the chairman of QNB Capital, a market leader in Qatar in investment banking services and financial advisory, established in 2008, with headquarters in Doha, and European offices in Paris as well as London.
About QNB
Established in 1964, QNB is the largest bank in Qatar with 51.93 percent owned by the Qatar Investment Authority. The group has a presence in more than 28 countries across three continents. It employs 28,000 people serving over 27 million customers.
As the largest financial institution in the MEA region, QNB reported its financial performance for the three-month period ending on 31 March 2024. During this quarter, the net profit amounted to $1.1bn, marking a 7 percent increase compared to the same period in the previous year. The group’s operating income surged by 11 percent to reach $2.8bn, underscoring its consistent growth across diversified revenue streams.
As of 31 March 2024, the total assets of QNB stood at $340bn, reflecting a 5 percent rise from the same date the previous year. This increase was primarily fuelled by a solid 7 percent growth in loans and advances, reaching $238bn. Customer deposits also saw significant growth of 6 percent to amount to $242bn from the prior year. The loans to deposits ratio was at 98.6 percent as of 31 March 2024.
QNB Group demonstrated operational efficiency with a cost-to-income ratio of 21.7 percent, positioning it as one of the top performers among major financial institutions in the MEA region. Additionally, the loan loss coverage ratio was at a robust 98 percent, indicating the prudent approach taken by the Group towards non-performing loans.
In April 2024, QNB Group introduced FAWRAN, a cutting-edge payment solution designed to enhance customer payment experiences through innovative technology. This new payment method enables swift and secure transactions to individuals in Qatar using the recipient’s mobile number or alias. The launch of FAWRAN represents a significant addition to QNB’s expanding array of digital payment solutions.
Powered by the real-time payment infrastructure of the Qatar Central Bank, FAWRAN stands as a ground-breaking addition to Qatar’s digital payments ecosystem, offering customers advanced convenience and efficiency. QNB customers can easily access the FAWRAN service by registering through QNB’s mobile banking and internet banking platforms, either through a designated Qatar mobile number or by selecting a personalised alias name.
Name: Abdullah Albader
Designation: CEO
Company: Almarai
Industry: Industry
Albader embarked on his tenure at Almarai in 2000, progressing to the role of CEO in March 2021. Through a career with Almarai of more than 20 years, he held several positions within the company across different sectors, including manufacturing, distribution, sales, marketing, and shared services. The most recent position was the executive vice president of the Bakery Division. Albader holds a Master’s Degree in Business Administration from the University of Leicester in the UK.
At the time of his leadership in 2022, the company boasted a workforce of 43,104 employees. Almarai reported a net profit of approximately $448m during the initial nine months of 2023, with total assets amounting to $9.6bn. In a strategic move in February 2023, the group’s subsidiary, Almarai Investment Holding, successfully concluded the acquisition of PepsiCo’s 48 percent ownership in IDJ for $68m, thereby securing full ownership.
About Almarai
Almarai products are enjoyed by over 42 million consumers across the GCC, Egypt, and Jordan, with distribution to more than 110,000 retailers in 7 countries. A household brand name with a commitment to quality, Almarai conducts over 10,000 daily quality tests to ensure that consumers receive products they can trust. Notably, Almarai secured the third spot on the list of the most influential global and local brands in KSA for 2023, as per the Consumer Confidence Index released by Ipsos, a global research firm.
Recognised as the world’s largest vertically integrated dairy company, Almarai was listed fourth among the top 20 companies in KSA as well as the UAE for brand value in 2023, as reported by Kantar, a global research organisation. Presenting a diverse portfolio of 622 products under seven brands, Almarai serves over 100,000 customers with a commitment to consistent quality. The company set 25 sustainability goals to achieve by 2025 under the strategy ‘Doing better every day’. Goals include increasing clean energy usage to 20 percent across divisions and supporting the packaging economy transformation in KSA by 2025.
With a significant presence in key markets, Almarai stands at the forefront of driving sustainability initiatives and contributing to a more resilient and equitable future. The company demonstrates consistent dedication to achieving the 25 sustainability targets outlined in its ‘Doing better everyday’ strategy, aligning closely with the goals of Saudi Vision 2030 and the United Nations Sustainable Development Goals.
Upholding principles of transparency and responsibility, Almarai has recently released ESG policies and position statements, outlining its commitments in areas such as animal welfare, climate action, community engagement, energy conservation, sustainable packaging, ethical sourcing, environmental stewardship, human rights, responsible marketing, and water management.
Almarai has outlined ambitious investment plans totalling $4.8bn until 2028. The company aims to enhance its current operations and venture into new market segments, with a significant portion of the investment earmarked for strategic growth initiatives. Specifically, Almarai intends to allocate $1.8bn towards expanding its poultry sector and an additional $1.3bn to fortify key food categories including dairy, juice, and bakery.
Name: Abdulnasser Bin Kalban
Designation: CEO
Company: Emirates Global Aluminium (EGA)
Industry: Industry
Backed with a wealth of experience, Bin Kalban is the dynamic leader at Emirates Global Aluminium (EGA) boasting a robust leadership background. Prior to his current role, he served as an alternate board member at EGA as well as held a seat on the board of Guinea Alumina Corporation (GAC), EGA’s bauxite mining subsidiary. Bin Kalban’s career trajectory in the industry began back in 1996 at DUBAL, where he excelled in Major Projects and the Power and Desalination Department.
Bin Kalban’s strategic vision and operational acumen led to his transition to the role of CEO at Dubal Holding, a key position within EGA’s shareholder structure. With a focus on continuous improvement and innovation, he has steered EGA’s ongoing operations and long-term business strategies with finesse, reporting directly to the managing director. Educationally, he holds a Bachelor’s Degree in Electrical Engineering from Western Michigan University in the US, supplemented by strategic management and leadership courses from Insead Business School in France as well as Harvard Business School.
Bin Kalban’s contributions extend beyond EGA, as he actively holds board member positions in prominent organisations like the International Aluminium Institute, the Gulf Aluminium Council, and the Emirates Research and Development Council. In recognition of his expertise and leadership, he was appointed as a board member of the UAE International Investors Councils in 2023. With a passion for sustainable growth and industry excellence, Bin Kalban stands out as a respected leader in the global aluminium sector, committed to driving innovation, building strategic partnerships, and shaping the future of the industry.
About EGA
EGA stands as the world’s largest producer of premium aluminium and is notably the most substantial industrial entity in the UAE beyond the realms of oil and gas. The company is owned by the Mubadala Investment Company of Abu Dhabi and the Investment Corporation of Dubai, marking it as the largest enterprise jointly held by these prominent emirates.
With a global workforce exceeding 7,000, EGA operates cohesively to pursue its purpose and attain its mission, adhering steadfastly to the organisation’s core values. The leadership team at EGA fosters a culture of innovation, accountability, and robust corporate governance, essential pillars for ensuring sustained success over the long term.
Recognised as one of the most versatile metals globally, aluminium serves as a foundation for modern life, catering to diverse needs across industries. EGA’s aluminium products, a prominent export from the UAE following oil and gas, make a significant contribution to the global market, representing a notable portion of the world’s aluminium production.
EGA’s output amounts to one out of every 25 tonnes of aluminium produced worldwide, equating to four percent of the global production and nearly half of the aluminium production within the Gulf region. As an integrated aluminium producer, EGA’s operations span from bauxite mining to the production of cast metal.
Name: Abdulrahman Al-Fageeh
Designation: CEO
Company: Saudi Basic Industries Corporation (SABIC)
Industry: Energy
In 2018, On 21 March 2023, Al Fageeh assumed his current role at SABIC, while also becoming an executive member of the board of directors. Concurrently, he holds the positions of chairman of SABIC Agri-Nutrients Company and NUSANED™ Investment company.
With a career spanning over 35 years, Al Fageeh has solidified his reputation as a key figure in the global chemical industry. His tenure within SABIC has seen him excel in various senior executive positions, including project management, plant operations, and corporate and business management. Prior to his current executive roles, he served as the executive vice president of Petrochemicals, Performance Chemicals, and Polymers strategic business units, demonstrating his strategic acumen across different segments of the organisation. His impressive track record also includes key positions such as vice president of the Polyethylene Business Unit and a significant six-year tenure as president of Yansab.
Al Fageeh’s leadership contributions extended to chairing notable entities within SABIC such as Petrokemya, Sadaf, Ibn Sina, Shrouq, Yanpet, Kemya, SAMAC, SABIC SK Nexlene Company, Gulf Coast Growth Ventures, and SABIC Fujian. Moreover, he served as vice chairman of the board of Ibn Zahr and held directorial positions at Ar Razi and SABIC Capital B.V. In his external appointments, Al Fageeh’s influence extends beyond SABIC. He holds the prestigious position of chairman at both the Gulf Petrochemicals and Chemicals Association (GPCA) and the Saudi Petrochemical Manufacturers Committee.
Additionally, he brings his expertise to the Royal Commission for Jubail and Yanbu as a board member and offers valuable insights as an independent board member at the General Authority of Foreign Trade. Furthermore, his commitment to global dialogue and collaboration is evidenced by his role as a member of the board of directors at the Boao Forum for Asia.
About SABIC
As one of the world’s leading petrochemical manufacturers, SABIC operates as a public entity headquartered in Riyadh, KSA. Saudi Aramco holds 70 percent ownership stake in the company, while the remaining 30 percent is publicly traded on the Saudi stock exchange. Over the years, SABIC’s phenomenal growth trajectory has been nothing short of extraordinary. Presently, the company maintains a global footprint, spanning approximately 50 countries and boasting a workforce of over 31,000. SABIC’s primary corporate hubs and headquarters are located in Riyadh, complemented by significant industrial operations in Al Jubail on the Arabian Gulf and Yanbu along the Red Sea coastline.
The company’s manufacturing, sales, technology, and innovation facilities are geographically dispersed to ensure a comprehensive global presence and seamless operations. Managed through four regional offices spanning the Middle East and Africa, Asia, the Americas, and Europe, SABIC maintains a proactive approach towards shaping the future landscape. Emphasising the paramount importance of Technology and Innovation (T&I), SABIC channels substantial investments into pioneering research and development endeavours.
Name: Abdulwahab Iesa Alrushood
Designation: Acting CEO
Company: Kuwait Finance House (KFH)
Industry: Banking
With a career spanning more than three decades within the banking sector, which includes significant experience in both conventional and Islamic banks, along with over eight years in executive leadership positions, Alrushood stands out as a seasoned and successful leader with a proven track record of achievement.
His depth of knowledge and expertise extends across a diverse spectrum of treasury and financial institution management functions, showcasing proficiency in areas such as liquidity management, foreign exchange operations, capital markets activities, treasury sales strategies, country limit oversight, liability diversification tactics, funding arrangements, investment strategies, risk mitigation techniques, and asset and liability management practices. His wealth of experience and demonstrated proficiency in a wide array of critical financial functions underscore his ability to drive strategic initiatives and deliver exceptional results in the banking industry.
Throughout his career, he has held senior leadership positions on various banking and non-banking boards and committees, contributing insights and guidance across multiple realms such as credit & investment, audit, risk, governance, remuneration & nomination, and executive board committees within prominent banking and corporate entities. Demonstrating leadership by example, he brings a proactive, hands-on approach to problem-solving, with a proven track record of driving transformative initiatives and fostering strong market awareness and relationship management skills.
Alrushood holds the position of acting group CEO at Kuwait Finance House Group since October 2020. During the challenging circumstances of the pandemic in 2020, he played an instrumental role in overseeing as well as managing the group’s liquidity and corporate banking operations across various locations. His strategic oversight ensured that clients, the bank, and the group’s subsidiaries maintained robust capitalisation and resilience amidst the crisis, bolstering the local economy from corporate to retail spheres.
About Kuwait Finance House (KFH)
KFH, established in 1977 as the first Islamic bank in Kuwait, has emerged as a global leader in Islamic finance. As a key financial institution, KFH has not only played a vital role in shaping the Islamic banking industry but has also made significant strides in the broader banking sector, establishing itself as a key player in local and regional markets.
Listed on the Kuwait Stock Exchange (KSE) and Bahrain Bourse, KFH offers a comprehensive range of Sharia-compliant products and services, spanning real estate, trade finance, investment portfolios, commercial, retail, and corporate banking across multiple countries, including Kuwait, Bahrain, KSA, UAE, Turkey, Malaysia, Germany, UK, Egypt, Iraq, Oman, and Libya.
Name: Adel Ali
Designation: CEO
Company: Air Arabia
Industry: Aviation
Widely recognised as a trailblazer in the advancement of modern aviation, Ali has contributed to the air transport and tourism sector in the broader Arab world, particularly for his role in establishing Air Arabia in October 2003, the first low-cost carrier (LCC) in the MENA region. As the visionary behind Air Arabia, Ali steered its growth to become the largest low-cost carrier in the MENA region. It also became the first publicly owned airline in the Arab world, holding the title of the region’s largest by market value.
Leveraging his extensive 28 years of experience with industry giants such as Gulf Air and British Airways, he guided Air Arabia to establish itself as one of the world’s best-run low-cost carriers, consistently achieving profitability consecutively. Ali’s leadership has strengthened Air Arabia’s business model, facilitating the expansion of operations, entry into new ventures, and diversification into additional revenue streams. Presently, the group boasts a successful portfolio of businesses and projects, offering travel, tourism, and hospitality services globally.
In addition to his present executive responsibilities, Ali assumes the distinguished role of chairman at various entities, including Sharjah Information Systems Associates, Alpha Sharjah Catering, Alpha Aviation Academy, and Cozmo Travel. Moreover, he brings his expertise to the board of Sharjah Aviation Services, where his strategic insights contribute to the growth and development of the aviation sector.
Furthermore, Ali occupies board positions within Air Arabia subsidiaries, showcasing his commitment to diverse aviation ventures. He lends his guidance and leadership acumen to Air Arabia (Maroc) stationed at Casablanca’s Mohamed V International Airport, and also plays an instrumental role at Air Arabia (Egypt) located at Alexandria’s Burj Al Arab International Airport, ensuring operational excellence and driving strategic initiatives to enhance the aviation landscape. These varied roles underscore Ali’s multifaceted contributions to the aviation and travel industry, positioning him as a key figure in shaping the future trajectory of these esteemed organisations.
About Air Arabia
In the year 2023, Air Arabia demonstrated its steadfast commitment to expansive growth by significantly extending its operations across all seven operational hubs and unveiling 26 additional routes within its extensive global network. This strategic move not only bolstered the airline’s operational capacity but also translated into a notable 31 percent upsurge in the total number of passengers transported across the group, culminating in an impressive figure of 16.7 million passengers.
Amidst this period of expansion, the fourth quarter closing on 31 December 2023, saw Air Arabia achieving a net profit of $61m. While this figure indicated a 37 percent decrease compared to the previous year’s record high profit of $97m, which was attributed to exceptional yield margins, the airline recorded a noteworthy turnover increase of 11 percent, amounting to $419m for the final quarter of 2023.
Name: Ahmad Bin Shafar
Designation: CEO
Company: Empower
Industry: Industry
Since assuming leadership of Dubai’s Empower in 2004, Bin Shafar has played a vital role in driving the company’s remarkable growth and transformation. With over 28 years of management experience, honed during his tenure at Standard Chartered Bank, he has leveraged his leadership skills to elevate Empower into a global leader in district cooling, solidifying its position as the largest provider worldwide. Under his guidance, Empower has not only attained industry leadership but has also established new standards of excellence within the sector.
Alongside his role at Empower, Bin Shafar serves as the chairman of Empower Logstor Insulated Pipe Systems and offers strategic advice to the UNEP’s District Energy in Cities initiative. He also leads several prominent organisations, showcasing his versatile leadership capabilities.
His strategic acumen and in-depth industry expertise have been instrumental in Empower’s evolution from a nascent entity to a prominent global player in the district cooling realm. In addition to his responsibilities at Empower, Bin Shafar holds influential positions including chairman of Empower Logstor Insulated Pipe Systems (ELIPS) and advisory roles with UNEP’s District Energy in Cities initiative. He is also actively engaged in leading organisations such as Dubai Sports Council, District Energy Association, Bin Shafar Holding, and Al Shafar National Contracting. His affiliation with key entities such as IMD International and ASHRAE further underscores his commitment to driving positive change and innovation within the industry.
About Empower
Established in 2003, Empower has firmly established itself as the leading global provider of district cooling services, playing a crucial role in Dubai’s district cooling market.
A significant milestone was achieved in November 2022 when Empower successfully completed its initial public offering, resulting in the company’s listing on the Dubai Financial Market (DFM). Notable shareholders following the IPO include DEWA and Emirates Power, holding substantial ownership interests of 56 percent and 24 percent respectively.
Empower and its subsidiary entities specialise in delivering top-notch district cooling services, overseeing central cooling plants and the management of associated distribution networks. Additionally, the company is actively engaged in the production and trading of pre-insulated pipes and fittings.
Guided by a vision to lead as the foremost global provider of district cooling services, Empower is committed to advancing sustainability and optimising the utilisation of energy resources. Through the provision of reliable, cost-effective, and environmentally friendly district cooling solutions that meet world-class standards, Empower is dedicated to achieving customer satisfaction and fostering enduring shareholder value.
In April 2024, Empower announced the commencement of connecting Al Wasl Tower to its district cooling network, six years after signing a memorandum of understanding to provide services. The tower’s connection will occur in two phases, with the first phase already in progress and the second slated to commence in the first half of 2024, delivering 3,900 refrigeration tons of district cooling energy.
Name: Sheikh Ahmed bin Saeed Al Maktoum
Designation: Chairman and CEO
Company: Emirates Airline and Group
Industry: Aviation
For more than three decades, Sheikh Ahmed has been a driving force of Dubai’s rapid economic development; particularly with successfully expanding the aviation sector which is a large facet of Dubai’s GDP. Moreover, he has been at the forefront of formulating economic, investment and fiscal policies and strategies aligned with Dubai’s vision.
He embarked on his career in the aviation industry when in 1985, he was appointed as president of the Dubai Department of Civil Aviation (DCA), the governing body that managed the activities of Dubai International (DXB) and Dubai Duty Free, among others.
That same year witnessed the launch of Emirates Airline, and today, he is the chairman and CEO of Emirates Airline and Group, including DNATA and other aviation-related entities.
Sheikh Ahmed also holds numerous government positions and plays a key role in leading the emirate’s finance and energy sectors and has been the recipient of several accolades from various governments and multi-national organisations.
Emirates has a global footprint across six continents and has been profitable for over 30 years under his leadership. From steering the success of Dubai Duty Free to become one of the world’s biggest single airport retail operations to the launch of Dubai World Central (DWC), all have contributed towards Dubai becoming the world’s most preferred aviation and logistics hub.
Key roles and responsibilities
As the chairman of Dubai Holding, Sheikh Ahmed has contributed to Dubai’s impressive economic growth and development journey. He holds key leadership roles including chairman of Emirates NBD, Dubai Airports, Emirates Airline, and Group, which encompasses DNATA. His strategic direction and visionary leadership have been instrumental in driving the success and growth of these prominent organisations within the aviation and financial sectors.
In addition to his corporate responsibilities, Sheikh Ahmed also holds significant government positions of influence. He serves as the second vice chairman of the Executive Council of Dubai, where he steers the formulation of policies and strategies for the city. He also serves as the chairman of Dubai’s Supreme Fiscal Committee and is a board member of the Investment Corporation of Dubai (ICD), further demonstrating his extensive involvement in guiding Dubai’s economic and strategic initiatives.
The Emirates Airline Foundation
Improving the lives of children in need around the world, the Emirates Airline Foundation is a non-profit charity organisation dedicated to improving the lives of children who need it the most. Since 2003, the Emirates Airline Foundation has supported over 50 projects and NGOs around the world, from Africa and Bangladesh to the UAE. Focusing particularly on children trapped in extreme poverty, the foundation, made up of volunteer employees and friends of the Emirates Group, strives to reduce illness and childhood mortality rates.
Under the patronage of Sheikh Ahmed, the foundation provides humanitarian, philanthropic aid and services for children, with the minimum amount of administrative expense. Just some of their key projects have included The Emirates Friendship Hospital which has provided vital medical care to over 700,000 people in isolated communities in Bangladesh. Also, the IIMPACT Girls Education Project which offers life‑changing primary education in 35 Learning Centres for more than 1,000 girls from disadvantaged communities in rural India.
Little Prince Nursery and School which provides a holistic education to underprivileged children from the Kibera slum in Nairobi, Kenya; Virlanie Foundation which provides protection, care and a brighter future to vulnerable children and young adults at eight children’s homes in the Philippines. Also, Externato São Francisco de Assis which offers a full‑time education, three daily meals and extra‑curricular activities at a school for underprivileged young children in Brazil.
Certified Autism Centre™ Designation
Coinciding with World Autism Awareness Day on 2 April, in a significant advancement towards enhancing travel accessibility and inclusivity, Emirates has secured a Certified Autism Centre™ Designation for all its Dubai check-in facilities. These facilities include the Emirates City Check-in and Travel Store in DIFC, Emirates Cruise Check-In at Port Rashid and Dubai Harbour, Emirates City Check-In Ajman, alongside the dedicated hub located in Terminal 3 at Dubai International Airport (DXB).
Awarded by the International Board of Credentialing and Continuing Education Standards (IBCCES), this certification signifies that all Emirates facilities in Dubai have taken proactive steps to create a more inclusive and accommodating environment for neurodiverse customers. By meeting specific criteria aimed at ensuring a comfortable and supported travel experience, Emirates is reinforcing its commitment to serving diverse passenger needs and preferences.
As part of the designation process, employees across the various Emirates facilities underwent specialised training focused on autism and sensory awareness. This training equips them with the knowledge and skills necessary to effectively address the requirements of autistic travellers or those with sensory sensitivities, as well as their families. Thorough facilities audits were conducted at each location, analysing sensory elements in public spaces such as sound levels, lighting, and potential sensory triggers, resulting in the development of sensory guides. These guides empower travellers to make informed decisions about their travel experience and choose environments that cater to their specific needs and comfort levels.
Name: Ahmed Abdelaal
Designation: CEO
Company: Mashreq
Industry: Banking
With a career spanning over three decades, Abdelaal has established an impressive track record as a seasoned banking professional, ascending through senior roles within international and regional banks across key global markets.
His breadth of expertise encompasses a diverse array of fields, showcasing his hands-on proficiency in both corporate and banking sectors, including areas such as trade finance, real estate finance, payment and cash management. Additionally, his skill set extends to investment banking, encompassing debt capital markets, equity capital markets, project finance, and advisory services.
Notably, he also possesses in-depth knowledge in Islamic banking, retail banking, and portfolio management. Abdelaal’s expertise further extends to global market products, structured trade, and supply chain solutions, highlighting his versatile skill set in navigating complex financial environments.
Academically, Abdelaal is a distinguished alumnus of both London Business School and Harvard Business School. He holds an MBA from the University of London, UK, obtained from the London Business School. He is also a graduate of the Harvard AMP programme and holds a BA in Economics and Political Sciences with a major in Economics from the Faculty of Economics and Political Sciences at Cairo University, Egypt.
About Mashreq
Mashreq is integrating artificial intelligence (AI) into its operations with a focus on leveraging AI technologies for positive impact. One of the key initiatives involves the development of an AI-powered chatbot that will serve as a virtual assistant, providing valuable support to customers with a range of banking tasks, demonstrating the bank’s commitment to enhancing customer experience through innovative technological solutions.
In its digital transformation journey, Mashreq has achieved a significant milestone with the launch of Mashreq NEO, an all-encompassing digital bank tailored to the needs of the online generation. The NEO platform, equipped with a user-friendly app, offers a comprehensive range of banking services designed to enhance user experience and accessibility. Furthermore, Mashreq has established a seamless digital account opening process for Non-Resident Indian (NRIs) customers in the UAE, in collaboration with Kotak Mahindra Bank, facilitating access to both UAE and NRE accounts through the Mashreq NEO App.
Expanding its digital offerings, Mashreq has introduced NEOBiz, a dedicated platform targeting start-ups and contributing to the growth of the UAE’s start-up ecosystem. The bank continues to explore partnerships with fintechs and technology platforms to ensure that its customers have access to cutting-edge services and solutions tailored to their needs. In line with its global expansion strategy, Mashreq is strategically focusing on key markets such as Pakistan and KSA to strengthen its digital banking presence and drive long-term growth and digitalisation efforts in these high-potential markets.
Name: Ahmed Al Qaseer
Designation: CEO
Company: Sharjah Investment and Development Authority (Shurooq)
Industry: Government
Al Qaseer was appointed to his current role at Shurooq in February 2023 by royal decree. Prior to this, he began his career at Al Qasba Development Office in 2006 as the business development manager. Over the years, he demonstrated his strategic acumen and dedication to the growth of the organisation, leading to his appointment as the director of business development in 2008.
During his tenure, Al Qaseer played a crucial role in the evolution of Al Qasba into a renowned leisure and tourism destination in the region. Building on his accomplishments at Al Qasba, Al Qaseer was instrumental in the establishment of the Sharjah Investment and Development Authority (Shurooq) in 2009.
The following year, he assumed the position of director of property management at Shurooq, where he oversaw the management of properties, operations, sales, and leasing activities. In 2011, his responsibilities expanded as he was appointed as the chief operating officer, tasked with the operational execution of Shurooq’s diverse portfolio of projects and destinations.
Currently, Al Qaseer holds the responsibility of overseeing the management and operational execution of a variety of multi-sectoral projects within Shurooq’s portfolio. This includes leading efforts in managing tourist attractions and heritage destinations across the emirate, showcasing his commitment to driving sustainable development and growth in the region.
About Shurooq
Shurooq, recognised as a key catalyst in the ongoing transformation and development of Sharjah, stands as an independent governmental entity dedicated to fostering partnerships, facilitating collaborations, and connecting corporations, investors, and entrepreneurs with strategic opportunities.
With a mission to drive sustainable economic growth and prosperity in the region, Shurooq plays a vital role in identifying, evaluating, and pursuing a diverse array of tourism, investment, and heritage-related infrastructure projects, with a particular focus on construction and development initiatives aimed at enhancing Sharjah’s socio-economic landscape.
Embracing a holistic approach to advancing Sharjah’s vision of sustainable development, Shurooq has made strategic investments in various sectors essential for the region’s growth trajectory. These include advanced manufacturing, Greentech, agri-food technology, culture and tourism, mobility, and logistics, among others, underscoring the authority’s commitment to fostering innovation, environmental sustainability, and economic diversification in Sharjah.
In a significant milestone for Shurooq, the authority recently announced the successful completion of expansions at two flagship projects under the Sharjah Collection brand located in the UAE. The expansions at The Kingfisher Retreat and the Al Badayer Retreat, symbolise Shurooq’s dedication to enhancing tourism infrastructure and offerings in Sharjah. These developments, as highlighted in a press release, have been meticulously designed to increase capacity and elevate the overall guest experience at these destinations.
Name: Ahmed Galal Ismail
Designation: CEO
Company: Majid Al Futtaim Holding
Industry: Diversified
In 2018, Ismail assumed the position of CEO of Majid Al Futtaim Properties, heralding a transformative era for the group’s diverse portfolio of hotels, project management operations, malls, and communities. Through his visionary leadership, he has propelled the organisation to reach new heights, implementing strategic initiatives that have revolutionised the landscape of the sectors under his purview. His career trajectory is a testament to his dynamic expertise and leadership prowess, characterised by multiple achievements in various industries and geographies, where he left an indelible mark of excellence and innovation.
Ismail’s professional journey commenced in Cairo, Egypt, and later spanned across continents to Frankfurt, Germany, where he honed his project management skills at Procter & Gamble as a project manager. His tenure at the multinational corporation equipped him with the acumen to navigate complex initiatives and cultivate a culture of innovation within the organisation, setting the stage for his future leadership endeavours.
Transitioning to Dubai, Ismail embarked on an expansive role at Booz Allen Hamilton, where he delved into diverse sectors such as media, tourism, retail, and transportation. In this capacity, he spearheaded transformative programmes for both governmental and private clients, earning accolades for his strategic insights and adept leadership.
In 2007, Ismail embarked on a key chapter with Majid Al Futtaim (MAF), taking the helm as CEO of MAF Ventures, the investment arm of MAF Holding. Leading a team of over 3,000 employees across eight countries within the MENA region, he orchestrated a decade-long tenure marked by unwavering dedication to innovation and growth. During his tenure, he steered significant enhancements to the MAF Ventures portfolio, introducing ground-breaking entities such as Ski Dubai, Najm Cards, and VOX Cinemas, which garnered acclaim and reshaped the entertainment landscape.
Ismail’s knack for identifying opportunities and his strategic foresight caught the eye of the global arena, earning him a prestigious invitation to join the board of Endeavor, a renowned non-profit organisation dedicated to fostering high-impact entrepreneurship on a global scale.
About MAF Group
The Majid Al Futtaim (MAF) Group disclosed a modest rise in its net profit to $735m in the fiscal year 2023, as compared to 2022. Notwithstanding the revenue constraints, the group achieved a consolidated revenue increase of one percent, reaching $9.4bn. Notably, the lifestyle segment experienced a notable upsurge of 29 percent, surpassing $272.48m in revenue for the first time.
Notable achievements within the MAF Properties division contributed significantly to the overall performance of the company. The growth within MAF Properties was bolstered by an increase in footfall, enhanced occupancy rates, and the development progress of the Tilal Al Ghaf initiative.
Name: Ajlan Bin Abdulaziz Alajlan
Designation: Chairman
Company: Ajlan & Bros
Industry: Diversified
Considered an international pioneer in the manufacturing of traditional men’s clothes, as well as textiles and readymade clothes in KSA and the Arab Gulf countries, Alajlan has steered the group on an upward trajectory of growth and expansion.
Established originally as a textile business in 1979, a segment where it remains a key player in the Middle East region, Ajlan & Bros is also considered to be one of the biggest investment and commercial groups in the Kingdom.
With its main office located in Riyadh, today, it employs over 15,000 people in 25 countries across 75 companies and is backed by a vision to be a leading global investment conglomerate that enriches the lives of people, prosperity of the Kingdom, and Vision 2030.
Experience across multiple leadership roles
With 40 years of work spanning across the commercial, industrial and investment fields, Ajlan also holds several positions/memberships including the chairman of the Board of Directors of the Federation of GCC Chambers, chairman of the Federation of Saudi Chambers, and chairman of the Riyadh Chamber of Commerce and Industry.
He is also a member of the Council of Riyadh Region, member of the Board of Directors of King Abdulaziz City for Science and Technology, member of the Board of Directors of the Saudi Export Development Authority, as well as member of the Board of Directors of the Saudi American Business Council. Other key leadership roles Alajlan holds include chairman of the Economy and Development Committee in the Council of Riyadh Region, and chairman of Dispute Resolution Commission, in addition to the chairman of the Development Initiatives Committee at the Council of Saudi Chambers.
A diversified portfolio
Established to invest in a diversified portfolio of projects across Saudi Arabia’s key economic growth sectors and aligned with Vision 2030, Ajlan & Bros Holding Group has embarked on significant diversification both regionally and globally as reflected in the company’s investments in real estate in Saudi Arabia, Europe, Asia, the US and China.
One of the largest real estate owners in Saudi Arabia, Ajlan & Bros has launched several commercial, housing, and industrial projects throughout different cities of the Kingdom.
Name: Amin Nasser
Designation: President and CEO
Company: Saudi Aramco
Industry: Energy
A world leader in integrated energy and chemicals, Nasser joined Saudi Aramco in 1982 after he earned a Bachelor’s Degree in Petroleum Engineering from King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran, KSA. He held several assignments from November 1982 to February 1991 with the Drilling and Reservoir Management department and the Production Engineering department.
From March 1991 to May 1997, he was responsible for multiple supervisory positions in the Engineering and Producing departments. In 1999, he completed the Saudi Aramco Management Development Seminar in Washington, DC; and later, completed the Saudi Aramco Global Business Programme in 2000, and in 2002, followed these with the Senior Executive Programme at Columbia University in 2002. Active in many organisations devoted to education, R&D, entrepreneurship and technology development, Nasser leads the largest provider of crude oil to global markets.
Backed a wealth of experience
Nasser’s extensive tenure at Saudi Aramco spans four decades, during which he has assumed various key leadership roles within the organisation. Noteworthy among these positions is his distinguished tenure as the senior vice president of upstream operations, where he orchestrated Saudi Aramco’s most substantial capital investment programme in its integrated oil and gas portfolio. Operating under his guidance, the company has strategically advanced its position in upstream operations, marked by strategic investments and collaborative partnerships within the kingdom, thereby expanding its footprint in the downstream and chemicals segments of the petroleum value chain.
Moreover, Nasser spearheads Saudi Aramco’s strategic endeavours towards fostering cleaner energy solutions and sustainable products. This strategic vision is underpinned by investments in cutting-edge technologies, including renewable energy applications, next-generation fuel-engine interfaces, and pioneering crude oil-to-chemicals processes. Furthermore, he champions entrepreneurial ventures focused on delivering innovative solutions for cleaner energy.
Championing for the future for Saudi youth
Actively dedicated to fostering personal and professional growth through educational initiatives and training programmes, Nasser serves as an advocate for the development and empowerment of Saudi youth at Saudi Aramco. A staunch supporter of the company’s Young Leader’s Advisory Board (YLAB), a structured programme facilitating dialogue between Saudi Aramco’s leadership and its dynamic young professionals, he underscores the importance of nurturing talent within the organisation.
In addition to his corporate responsibilities, Nasser holds key positions on various advisory boards and councils that shape strategic decision-making across diverse sectors. These influential roles include membership on the International Advisory Board of the King Fahd University of Petroleum and Minerals, the Board of Trustees of the King Abdullah University of Science & Technology, the World Economic Forum’s International Business Council (IBC), the Massachusetts Institute of Technology Presidential CEO Advisory Board, the JP Morgan International Council, and the BlackRock Board of Directors.
Driving the kingdom’s sustainability efforts
Simultaneously, Nasser spearheads Saudi Aramco’s robust initiatives towards advancing the development of cleaner energy sources and products. These endeavours entail substantial investments in cutting-edge technologies such as next-generation fuel-engine interfaces, innovative processes for converting crude oil into chemicals, renewable energy applications, and the strategic backing of emerging startups dedicated to offering sustainable energy solutions.
His leadership extends to broader industry collaborations aimed at reducing greenhouse gas emissions, as evidenced by his active participation in the Oil and Gas Climate Initiative (OGCI), highlighting his unwavering commitment to addressing environmental challenges through collaborative industry actions.
Nasser advocates for the establishment of a streamlined and accessible supply chain ecosystem tailored to meet the evolving procurement demands of Saudi Aramco. Central to this vision is the proactive engagement of small and medium-sized enterprises (SMEs), fostering inclusivity and enhancing the sustainability of the supply chain network. Through his approach, Nasser ensures that procurement processes are optimised, responsive, and equipped to support Saudi Aramco’s expanding needs while fostering a culture of collaboration and mutual benefit among diverse business entities.
About Saudi Aramco
As one of the world’s premier integrated energy and chemicals enterprises, Saudi Aramco recognises the indispensable role of sustainability in shaping its operations and ensuring continued success as a global industry leader. Embracing a sustainable approach is fundamental to positioning Aramco for long-term prosperity.
Leveraging its operational expertise and diverse business portfolio, Saudi Aramco is actively contributing to the energy transition, guided by its aspiration to attain net-zero greenhouse gas emissions across all wholly owned operated assets by 2050 and advance the development of innovative, lower-carbon energy solutions. This commitment is closely aligned with the kingdom’s ambitious target of achieving net-zero emissions by the year 2060.
In a significant development in April 2024, Aramco announced the awarding of engineering, procurement, and construction (EPC) contracts with a total value of $7.7bn for a substantial expansion project at the Fadhili Gas Plant located in the Eastern Province of Saudi Arabia.
Name: Ala’a Mohamed Atta Khalil Eraiqat
Designation: CEO
Company: Abu Dhabi Commercial Bank (ADCB)
Industry: Banking
Eraiqat embarked on his journey with ADCB in 2004, marking the initiation of a distinguished career trajectory within the banking sector. Over the years, he has ascended through the ranks, assuming his current role in February 2009. Leveraging his extensive experience and expertise gained over nearly three decades as a banker, he has made significant contributions to the growth and strategic direction of ADCB.
With a rich professional history dating back to 1991, Eraiqat’s tenure in the banking industry has been underscored by notable stints at prestigious financial institutions such as Citibank and Standard Chartered Bank. In addition to his prominent position as CEO, Eraiqat shoulders additional responsibilities that reflect his multifaceted leadership role within the organisation. He assumes the prestigious role of chairman of the Board of Directors of Al Hilal Bank, further exemplifying his commitment to driving strategic initiatives and overseeing the growth of affiliated entities.
Furthermore, Eraiqat presides over a myriad of subsidiaries and committees within ADCB, including key entities such as Abu Dhabi Commercial Properties and Abu Dhabi Commercial Engineering Services. His leadership extends to chairing essential committees within the institution, such as the ADCB Management Executive Committee and the ADCB Management Credit Committee, where his vision and decision-making prowess help shape the bank’s operational framework.
Beyond his responsibilities within ADCB, Eraiqat’s influence extends to the broader financial and business landscape in Abu Dhabi. As a board member of the Abu Dhabi Chamber, he plays a key role in guiding strategic initiatives that drive economic growth and development within the region. Additionally, he serves as the chairman of the Abu Dhabi Chamber Audit & Compliance Committee and holds a board membership at Abu Dhabi National Hotels PJSC (ADNH), where his expertise contributes to the organisation’s strategic direction and governance.
About ADCB
In its pursuit to enhance its brand value and global standing, ADCB witnessed a significant surge in its value over the last year, recording an impressive 8.7 percent increase to reach $2.86bn by the year 2024. This remarkable growth was underscored by a recent report from Finance Brand, a leading global consultancy specialising in brand valuation.
As a result of this upward trajectory, ADCB climbed four places to secure the 109th rank on the prestigious Finance 500 list of top banking brands globally. This recognition highlights the bank’s unwavering commitment to fostering a sustainable business model and delivering value to all stakeholders, including investors, employees, and the wider society.
Steered by Eraiqat’s leadership, the bank was acknowledged as one of the top 10 financial institutions in the world. Additionally, ADCB’s Brand Strength Index (BSI) maintained a robust +AA rating, reflecting a solid performance driven by a focused strategy. Notably, the bank’s rank surged in 2023, with scores increasing from 76 percent to an impressive 78 percent, outperforming competitors in the sector and ranking highest in the UAE concerning consideration and familiarity metrics.
Name: Prince Alwaleed Bin Talal Al Saud
Designation: Founder and Chairman
Company: Kingdom Holding Company (KHC)
Industry: Diversified
An international businessman and astute global investor, Prince Alwaleed has orchestrated the transformation of Kingdom Holding Company (KHC) over the years into a prominent global value investment firm, revered on the international stage for its impressive portfolio that spans high-performance global brands and strategically significant regional interests. Embarking on this visionary endeavour, Prince Alwaleed laid the foundation of KHC in Riyadh, KSA, back in 1980, setting the stage for an unparalleled journey of investment excellence.
By the milestone year of 2007, KHC had evolved into a publicly traded entity, garnering recognition for its dynamic and diversified portfolio encompassing high-performance regional investments alongside its esteemed collection of global powerhouse brands. This positioning has not only solidified KHC’s stature as a trailblazer in the investment landscape but has also underscored Prince Alwaleed’s unwavering commitment to driving growth and success on a global scale.
About KHC
KHC has ownership or interests in luxury hotels and hospitality management, including the George V in Paris and London’s Savoy Hotel, while global hotel brands include Accor, Movenpick, the Fairmont, Raffles, and Swissotel. Some of KHC’s international investment segments include in finance with Citigroup and Saudi Fransi Bank; mobility solutions with Careem and Uber; digital technology and social media with JD.com and Twitter; and media and entertainment, including Time Warner, NewsCorp, 21st Century Fox, and Euro Disney.
In KSA, KHC has investments in petrochemicals with Tasnee while real estate interests include the Kingdom Tower in Riyadh. KHC is also invested in healthcare with Kingdom Hospital, aviation with NAS Saudi Arabia, and in education with Kingdom schools. His investment firm led a $133m funding round for Nana, a grocery delivery app in KSA, considered one of the largest investment rounds for Saudi startups.
KHC is fully committed to playing its part in helping to make Vision 2030 a success from a commercial perspective and in bringing international best practice and investment opportunities to a wider cross-section of stakeholder interests. In October 2023, Red Sea Global (RSG) officially concluded a successful investment agreement with KHC. This $533m joint venture marks a strategic alliance between RSG and KHC, with both entities sharing an equal 50/50 partnership in the development and ownership of the Four Seasons Resort Red Sea in KSA. Slated to welcome guests in early 2025, this luxurious retreat will be nestled on Shura Island, the central hub within The Red Sea destination.
Boasting 149 opulent rooms and suites, along with 31 residential properties, the resort will showcase six distinctive dining venues, alongside versatile meeting spaces, a marine discovery centre, as well as a dedicated Kids For All Seasons area. The exquisite Shura Island will feature an exclusive 18-hole championship golf course, a 118-berth marina, and a captivating retail, dining, and entertainment precinct, promising an immersive and enriching experience for both visitors and residents.
Name: Amina Al Rostamani
Designation: Board Member and Director
Company: AW Rostamani Group (AWR)
Industry: Diversified
Al Rostamani boasts a distinguished portfolio as an executive board member, shareholder, and director at AW Rostamani Group, where she assumes the role of COO. In this capacity, she exercises strategic oversight over group corporate services and group strategy functions, while also spearheading the group properties division as the CEO of AWR Properties.
Furthermore, Al Rostamani serves as a non-executive board member at HSBC Bank Middle East, Sandooq Al Watan, Al Jalila Foundation, Dubai Chambers, and Ajman University Board of Trustees, showcasing her multidimensional leadership capabilities across varied business domains. Her illustrious career trajectory includes a significant tenure as the Group CEO of TECOM Group, a member of Dubai Holding, renowned for its role as a key driver of Dubai’s economic ambitions through the creation of innovative business communities spanning diverse industry sectors.
Previously, she held influential roles such as chairperson of the Dubai Design and Fashion Council, and non-executive board member at prestigious entities including the National Media Council, Dubai Media Incorporated, Dubai Healthcare City Authority (DHCA), Emirates Central Cooling Systems Corporation (Empower), Noor Bank, and Committee Member at the National Election Committee – Federal National Council UAE, showcasing her broad expertise and strategic acumen.
Her expertise in wireless technologies is widely acknowledged, with her research contributions featured in renowned publications and academic journals, further solidifying her reputation as a leading authority in the field.
About AWR Group
With 14 companies across several distinct sectors, including multinational brands in automotive, logistics, retail, real estate, travel and lighting solutions, this family-owned business was launched in the 1950s in Dubai. Today, AWR Group has become one of the region’s most innovative business groups, defined by its core values, excellence, integrity, and commitment. They pride themselves on their role in the development and sustainability of the country and ambition to add to the UAE’s ambitious growth.
In February 2024, AWR forged a partnership with ZEEKR, a global pure electric premium vehicle subsidiary of Geely Holding Group, as part of its unwavering commitment to driving technological innovation in the automotive sector. This collaboration between AWR and ZEEKR signifies a significant leap forward in the local automotive industry, heralding the introduction of vehicles that seamlessly integrate cutting-edge technology with distinctive and innovative design elements.
The forthcoming introduction of ZEEKR 001 and ZEEKR X by AW Rostamani Group in the UAE in March 2024 heralds a new era of smarter driving experiences for customers. These vehicles are set to offer luxurious interior spaces, innovative safety features, and best-in-class EV performance, setting a new benchmark in automotive excellence. Through this collaboration, AWR Group and ZEEKR aim to redefine industry standards and establish ZEEKR as a leading premium electric vehicle brand, leveraging the rich legacy of customer-centricity and renowned service excellence of AW Rostamani Group.
Name: Aziz Fakhroo
Designation: Group Managing Director and CEO
Company: Ooredoo
Industry: Telecoms
Since assuming the leadership role at Ooredoo Group in November 2020, Fakhroo has played a pivotal role in driving the company’s growth trajectory, leveraging his extensive experience as well as strategic vision. His tenure as a board member at Ooredoo Group, which commenced in 2011, reflects his longstanding commitment to the organisation’s success and direction.
Prior to his current position, Fakhroo held the position of deputy undersecretary for Budget, Treasury, and Financial Affairs at the Ministry of Finance, where he honed his financial acumen and leadership skills. Additionally, his role as a board member at Accor SA since 2015 underscores his broad expertise in diverse industries.
With a distinguished background in mergers and acquisitions, Fakhroo’s tenure as the co-head of Mergers and Acquisitions at the Qatar Investment Authority further solidified his reputation as a leader with a keen eye for transformative business opportunities. His expertise and insight is demonstrated by his recent appointments to prominent boards, including the Board of Trustees of Qatar Museums and the board of KATARA Hospitality in March 2021.
Furthermore, his appointment as a board member of commissioners at Indosat in December 2021 highlights his expanding international presence and strategic influence in the telecommunications sector.
About Ooredoo
With operations spanning 10 countries, Ooredoo Group is committed to enhancing its network infrastructure to deliver seamless connectivity, addressing the evolving digital needs of consumers and businesses while empowering global customers to access the internet easily. Positioned as a true digital enabler, Ooredoo operates as a catalyst for simplifying lives and fostering enriching digital experiences across its diverse markets.
Guided by a strategic vision spearheaded by Fakhroo, Ooredoo Group has orchestrated noteworthy deals, including the $750m telecommunication tower agreement with Edge Point Indonesia and the $6bn merger with CKK Hutchinson in Indonesia, underscoring the company’s commitment to growth and innovation.
In a significant move in February 2024, Ooredoo Group pledged its dedication to fostering connectivity in the developing markets where it operates, reaffirming its alignment with the objectives of the International Telecommunication Union (ITU) and its relentless pursuit of leveraging technology and innovation for societal progress.
With a substantial investment of $1.1bn earmarked for the period spanning 2024-2026, Ooredoo intends to bolster mobile coverage, elevate service quality, and spearhead digital transformation initiatives in regions including Algeria, Tunisia, Palestine, Iraq, and the Maldives, potentially benefiting over 109 million individuals within these areas.
March 2024 marked an exciting milestone for Ooredoo Group with the introduction of its pioneering Over-The-Top (OTT) streaming venture through the launch of the Go Play Market platform. Developed in collaboration with MediaKind and supported by Microsoft, Go Play Market leverages MediaKind’s cutting-edge technology infrastructure on the Microsoft Azure platform to offer a diverse array of entertainment content, including live TV channels and video-on-demand services.
Name: Bader Al Kharafi
Designation: Vice Chairman and Group CEO
Company: Zain Group
Industry: Telecoms
Al Kharafi joined the group’s board of directors in 2011, was appointed vice chairman in 2014, and became group CEO in 2017, where he oversees about 7,400 people. Appointed as vice chairman of Zain KSA in October 2015, Al Kharafi’s journey within the Zain ecosystem has been characterised by a series of key positions that underscore his visionary leadership.
Notably, he has served as vice chairman of Zain Group, Kuwait since February 2014, and assumed the mantle of group CEO in March 2017, following his significant contribution as a member of the group’s board of directors since April 2011. His influential presence extends to his role as a board member of Atheer Telecommunications Iraq (Zain Iraq) and as the managing director of Al Khatem Telecommunications Company, an Iraq-based joint-stock entity since September 2013.
Moreover, Al Kharafi’s leadership extends to his role as the vice-chairman of Zain Sudan. On 4 March 2024, the Board of Directors of Gulf Bank unanimously elected Al Kharafi as the new chairman. With experience spanning over two decades in the financial and industrial sectors, Al Kharafi joined Gulf Bank’s Board in March 2012.
Beyond his tenure at Zain, Al Kharafi’s expertise and leadership extend to a diverse portfolio of roles and responsibilities. As the chairman of the board of the executive committee and a member of the board of the Nomination and Remuneration Committee of the Kuwait Stock Exchange Company, he plays a crucial role in shaping the financial landscape in Kuwait. Additionally, his role as the vice chairman of Kuwait-based Gulf Cables & Electrical Industries and board membership at Gulf Bank Kuwait further solidify his standing as a strategic leader in the financial sector.
Al Kharafi’s commitment to social development and youth empowerment is reflected in his role as the vice chairman of the Board of Injaz, Kuwait, a non-profit organisation dedicated to fostering the growth and development of youth in the region. Serving as the director of the group executive committee at Mohammed Abdulmohsin Al Kharafi & Sons since 2003 and as the chairman of National Investments Company, Kuwait, his leadership extends beyond the telecommunications sector, encompassing diverse industries and initiatives.
About Zain
In Q4 2023, Zain reported robust financial performance with a revenue of $1.6bn and a net profit of $140m. Key operations in Kuwait, KSA, Iraq, and Jordan played a significant role in driving impressive net profit growth for the company.
Notably, Jordan emerged as the fourth Zain operation to introduce and offer 5G services, showcasing Zain’s commitment to technological innovation and enhancing connectivity for its customers. Zain’s digital services revenue witnessed a substantial 9 percent increase, with remarkable growth seen in its Fintech segment, which reported a customer growth of 40 percent and a revenue surge of 195 percent.
Moreover, Zain maintained the region’s highest A- rating on the CDP Score Report–Climate Change 2023, highlighting its commitment to environmental sustainability and responsible business practices.
Name: Badr Jafar
Designation: Managing Director, CEO
Company: Crescent Group, Crescent Enterprises
Industry: Energy
Jafar, a prominent figure in the business and social entrepreneurship spheres of the UAE, helms Crescent Enterprises, a diverse business entity operating across nine sectors in 15 countries. Additionally, he holds the position of chairman at Gulftainer, the world’s largest privately-owned container port operator.
In addition to his business endeavours, Jafar is actively involved in various humanitarian aid, international development, philanthropic, and entrepreneurial initiatives. He plays advisory roles in esteemed organisations such as the United Nations, UNESCO, the International Rescue Committee, and the International Peace Institute, among others. He also contributes his expertise to advisory committees focusing on climate change and sustainability, further emphasising his commitment to global issues.
Noteworthy among his contributions is the founding of the Pearl Initiative, a non-profit organisation promoting transparency and accountability in the corporate sector in collaboration with the United Nations. Jafar’s passion for social entrepreneurship in the MENA region is evident through his involvement in initiatives like the Arab World Social Entrepreneurship Programme and the Synergos Arab World Social Innovators Board, aiming to drive positive change through entrepreneurship.
Jafar’s dedication to education and entrepreneurship is evident in his participation on various advisory boards, such as the Cambridge Judge Business School and MIT Legatum Centre. His commitment to philanthropy is highlighted through his roles as a founding patron of strategic philanthropy centres and advisory boards focusing on impacting high-impact philanthropy efforts globally.
An advocate for the arts, Jafar founded the Middle East Theatre Academy and co-founded the Global Gumbo Group, emphasising cultural exchange through entertainment. His educational background boasts a Master of Engineering degree from the University of Cambridge, with additional leadership and governance roles focusing on new economy, society, and sustainability efforts at various global forums. His diverse contributions across business, philanthropy, education, and the arts underscore his commitment to driving positive change and innovation in diverse sectors.
About Crescent Enterprises
Today, Crescent Enterprises encompasses a diverse group of over 50 subsidiaries and operations in 15 countries, with 1,800 committed employees. The corporate structure now includes four platforms: CE-Operates, CE-Invests, CE-Ventures, and CE-Creates. Under CE-Operates, the focus is on smart infrastructure for economic development and growth, with key operating companies like Gulftainer leading the ports and logistics business across strategic locations globally, including the UAE, KSA, Iraq, and the US.
CE-Invests serves as the strategic investment platform supporting late-stage businesses in the MENA region. Investments include healthcare-focused fund TVM Capital and private equity firm Growthgate Capital, spanning sectors such as green building materials, environmental services, and advanced biometrics.
Name: Beshara Sherif
Designation: Group CEO
Company: Mohamed & Obaid AlMulla Group (M&O Group)
Industry: Diversified
Beshara embarked on his career with the Mohammad & Obaid AlMulla Group (M&O Group) in 2017 as its Group General Counsel. He progressed rapidly within the organization, becoming the Group Chief Legal Officer and assuming his current role by late 2018.
A wealth of experience
Recognised as a leader in the legal sector, Beshara has a wealth of experience and a distinguished professional career that has spanned over a decade. His tenure encompasses vital leadership roles, including legal counsel and chairman, and his current position as the Group CEO of the Mohamed & Obaid AlMulla Group of Companies. His versatile expertise traverses several sectors, including finance, aviation, and corporate law. His notable accomplishments include providing strategic counsel to CEOs, advising on matters within the aviation industry, spearheading joint ventures, and managing litigation cases.
Beshara has received several accolades, including a ranking among the Top 10 in the Arabian Business Dubai 100 list for 2024 and as a distinguished member of the esteemed Legal 500 Middle East rankings for consecutive years.
Key responsibilities
In his role, Beshara oversees the comprehensive portfolio of the Mohamed & Obaid AlMulla Group. It entails strategic leadership and direction across the group’s business units and subsidiaries, ensuring the alignment of corporate objectives, optimising operational efficiencies, and spearheading growth initiatives to strengthen the group’s market position and enhance its financial performance. He is steering the group’s strategic direction, leading the development and implementation of internal audit and corporate compliance programmes, and contributing to creating general management policies.
About American Hospital Dubai
In alignment with the UAE’s National AI Strategy 2031 and the UAE National Programme for Artificial Intelligence, American Hospital Dubai is pioneering advancements in complex medical conditions, robotic surgical procedures, AI-driven healthcare solutions, and positioning itself as a destination for medical tourism.
The hospital continually endeavors to launch premium healthcare services to the region through strategic global partnerships with medical pioneers. With multi-faceted initiatives backed by state-of-the-art technology, the hospital is vital in reinforcing Dubai’s reputation as a prominent healthcare hub.
The organisation upholds a culture of excellence by incorporating industry best practices. At the same time, their operational success is driven by the commitment to innovation, cutting-edge treatments, technological advancements, leveraging the expertise of top professionals, and delivering compassionate care.
Under Beshara’s visionary leadership, American Hospital Dubai and Cerner, the global leader in healthcare technology, set a milestone with the Artificial Intelligence research centre. It is the only hospital in the Middle East to win the Excellence in Robotics Surgery award with over 1,500 successful procedures. Also, M&O Group’s hospitality division is expanding into regional markets, and Ishraq Hospitality, the Group’s asset management division, is increasing the Group’s footprint across the region with new mid-priced hotels.
Focus on technology
With accelerated AI adoption, the UAE is predicted to add $182bn to its economy by 2035. American Hospital Dubai actively supports UAE’s AI goals, as reflected in their establishment of the AI-led Research Centre in collaboration with Cerner in 2020, which will be the first of its kind in the region.
The hospital set a milestone in robotic spinal surgeries with a spinal fixation procedure using the Medtronic Mazor X Stealth™ Edition Robotic Guidance System and is the first private healthcare entity in the region to employ this technology. They are the region’s first private healthcare entity to bring the 4th Generation da Vinci Robotic System for Surgeries.
American Hospital Dubai’s training programme for 20 Emirati surgeons by 2024 is another milestone in their mentoring leadership. The programme comprises an online introduction, step-by-step training on modules, work on simulators and modules dry box, and hands-on and cadaver training by internationally renowned, certified robotic surgeon trainers.
About Mohamed & Obaid AlMulla Group
A family-owned business established in 1942, the Mohamed & Obaid AlMulla Group has a diversified portfolio in the critical sectors of healthcare, hospitality, real estate, and travel and tourism. Beshara steers the group’s growth, including investments and expansion in critical infrastructure, technology, healthcare security, innovation, and education. He has streamlined the group’s corporate governance structure to escalate growth and expand its impact and role in UAE’s nation building.
The group aims to enrich its medical technologies portfolio, collaborate with esteemed medical innovators on a global scale, advance its educational objectives, stay abreast of evolving innovations and cutting-edge artificial intelligence applications, achieve sustainability KPIs, and make substantial investments in broadening the boundaries of medical excellence.
Name: Bader Mohammed Al Meer
Designation: Group CEO
Company: Qatar Airways
Industry: Aviation
Having assumed his current role at Qatar Airways in November 2023, Al Meer previously boasts a successful tenure as the COO of Hamad International Airport. Throughout his career, he has played integral roles in Qatar’s landmark developments, demonstrating his adeptness in construction, project management, and aviation operations. His leadership at Hamad International Airport (HIA) has been characterised by visionary initiatives and remarkable accomplishments in significant airport projects.
Noteworthy among these projects is the expansion endeavour known as The Orchard, which has revolutionised the airport experience and solidified Doha’s status as a premier global aviation hub.
Al Meer’s tenure at the helm of the airline group symbolises a period marked by a dedication to innovation, fostering a culture of empowerment within the organisation, and driving continued success in the competitive aviation landscape with his guidance and industry expertise. In December 2023, Al-Meer was elected to the board of governors of the International Air Transport Association (IATA), a prestigious appointment that underscores his exceptional leadership in the aviation industry.
IATA, recognised as the trade association for the world’s airlines, boasts a membership of approximately 320 airlines, representing 83 percent of global air traffic. Through his role, he will contribute to shaping the future growth of secure, and sustainable air transport, in line with IATA’s mission to advocate for airline interests globally.
His extensive expertise in the aviation sector positions him to make significant contributions as a member of the Executive Committee of the Arab Air Carriers’ Organisation (AACO). AACO, the regional association of Arab Airlines comprising 34 carriers, focuses on fostering cooperation among members in various areas such as aero-political affairs, environmental sustainability, and training initiatives.
Al Meer’s previous role as a board director of the Airports Council International in the Asia/Pacific Region underscores his commitment to airport development and sustainability initiatives. His dedication have been instrumental in securing industry accolades for Hamad International Airport, including Skytrax’s prestigious Best Airport in the World awards in 2021 and 2022.
About Qatar Airways
Qatar Airways has introduced Sama 2.0, described as the first digital human in aviation, as an innovative AI assistant for passengers. This advanced technology, which represents a second generation of AI, offers passengers information on various topics such as travel details and on-board services. Sama 2.0 has been designed to appear more human-like, displaying expressions and simulated breathing compared to its earlier appearance.
The integration of Sama 2.0 into Qatar Airways’ digital ecosystem signifies a significant advancement in passenger interaction and service provision. This AI assistant can assist passengers in booking flights, completing transactions, and providing personalised recommendations.
Name: Carlos Wakim
Designation: CEO
Company: Bloom Holding
Industry: Diversified
In addition to his current position as the CEO of Bloom Holding, Wakim serves as the chairman of the Executive Committee for Bloom Education and the chairman of the Board of Governors of Brighton College UAE schools. He oversees operations across all Bloom Holding companies, including real estate with Bloom Properties, education investments with Bloom Education, hospitality with Bloom Hospitality, facilities management with bfm, and landscaping services with Bloom Landscape.
With over 20 years of leadership experience in the region’s leading real estate firms, Wakim has played a significant role in their success and expansion. At Bloom Holding, he leverages his industry expertise to drive the company’s strategic objective of expanding its portfolio in the UAE and internationally. He embraces Bloom Holding’s customer-centric, long-term approach by spearheading new projects that offer attractive returns on investment and long-term rental yields for end-users.
His leadership vision and determination have steered Bloom Holding through a period of growth, making strategic decisions to develop projects and services that meet customer needs while capitalising on growth opportunities and navigating market challenges. Wakim remains focused on establishing robust short- and long-term goals that create value for Bloom Holding’s customers by providing high-quality projects, premium communities and desirable environments in key locations.
Bloom Holding under Wakim’s leadership
Under Wakim’s guidance, Bloom Holding has expanded its real estate, hospitality, and education portfolio. He led the successful launch of Bloom Living, a fully integrated and all-inclusive community in Abu Dhabi.
The iconic gated community features more than 4,500 homes, including a selection of villas, townhouses, and apartments to suit the unique needs of residents of all generations. The launch of Bloom Living marks a significant milestone for Bloom Holding, and the project has been thoughtfully designed so that all the facilities, amenities and services are within walking distance for every resident. Bloom Holding has witnessed remarkable success on the launched phases of Bloom Living with all villas and townhouses now successfully sold out, underscoring the appeal of the project as a sought-after destination for premium community living.
Additionally, Wakim facilitated the completion and handover of Aldhay project six months ahead of schedule and secured a deal with Rotana to manage Bloom Arjaan by Rotana, offering an attractive investment opportunity with guaranteed returns of up to 8 percent over five years.
Education holds a central place in Wakim’s vision, evident through Bloom’s partnerships with top-tier international schools and participation in Abu Dhabi’s Charter Schools program. He led the launch of Bloom World Academy, committed to delivering high-quality, customised education. Under his leadership, the number of students in Bloom Education’s portfolio has grown to over 21,000 across 18 schools, and he has signed a deal with New Era Education to establish Bloom’s first international school in Cairo, Egypt.
Name: Easa Al Gurg
Designation: Group CEO
Company: Easa Saleh Al Gurg Group (ESAG)
Industry: Diversified
Al Gurg, a dynamic leader from the third generation of the family, commenced his tenure at Easa Saleh Al Gurg Group (ESAG) in August 2010 as the general manager of Scientechnic, the group’s flagship entity. Before joining ESAG, he held the position of assistant manager within the Accounting & Finance department at Siemens. Assuming the role of group CEO since May 2021, he has championed a strategic approach centred on performance management and positive leadership principles, aiming to drive sustainable revenue and profitability.
Under Al Gurg’s strategic direction, ESAG maintains a steadfast commitment to organic expansion initiatives while consistently providing innovative turnkey solutions for high-impact projects spanning various industry sectors. Renowned for his unwavering dedication to excellence, he advocates for empowerment and accountability within the organisation, instilling a culture of ownership.
Notably, he has been instrumental in defining the strategic trajectory of Easa Saleh Al Gurg Commercial and Industrial Group during his tenure as CEO. By leveraging enduring partnerships and adept leadership teams, he has emphasised key growth catalysts, including innovative customer engagement strategies, fostering a culture of shared accountability among staff, and a proactive approach to meeting evolving regional and global market demands.
Al Gurg serves as a board member of the Al Gurg Charity Foundation, a philanthropic organisation established under royal decree in October 2010. The Foundation plays a role in supporting charitable initiatives such as housing projects, orphanages, elderly care facilities, academic institutions, student scholarships, and medical assistance programmes for those in need.
About ESAG
ESAG stands as one of the UAE’s premier family businesses, boasting a diverse portfolio of over 30 companies. Established in 1960, the group has forged strategic partnerships with industry-leading brands across a multitude of sectors. Having initially focused on trading prestigious consumer brands like Grundig and Siemens, ESAG has evolved into a dynamic conglomerate with interests spanning retail, building materials, industrial, and real estate sectors.
Through a combination of strategic acquisitions and organic growth initiatives, ESAG has positioned itself for continuous expansion into new markets. Notable joint ventures include Al Gurg Unilever, Siemens, Al Gurg Fosroc, Al Gurg Smollan, Akzo Nobel Decorative Paints, Siemens Healthcare, Siemens Mobility, as well as Links Insurance Brokers.
With its robust engineering and manufacturing capabilities, the group provides comprehensive technical consultancy, project management, and construction services to diverse industries including construction, oil and gas, power, and other infrastructure sectors. Within the consumer segment, ESAG collaborates with global brands focusing on both residential and commercial markets.
As a prominent UAE-based conglomerate, ESAG has played an integral role in the nation’s advancement and ongoing prosperity, contributing to key transformative initiatives. ESAG’s wide-ranging expertise is showcased through its involvement in numerous iconic projects in the UAE.
Name: Elda Choucair
Designation: CEO
Company: Omnicom Media Group (OMG MENA)
Industry: Media
As one of the few women holding a C-suite role in regional advertising, Choucair boasts a 17-year tenure within the media group where she has consistently driven transformative projects spanning technology, automation, predictive modelling, and e-commerce. Her professional journey commenced in senior account positions at OMD, progressing to a leadership role at PHD where she was instrumental in propelling PHD to sevenfold growth, establishing it as a prominent player in the regional landscape.
In 2016, she took on the role of CEO at PHD MENA and later assumed the position of COO of the Holding Group, ultimately leading to her current role. She actively engages in various industry groups, holding the vice-chair position at the Advertising Business Group (ABG), as a board member for the Interactive Advertising Bureau (IAB) GCC, the International Advertising Association (IAA) UAE Chapter, and acting as a founding board member of the Unstereotype Alliance. Choucair has also championed investing in young people by driving an apprenticeship programme.
In her current leadership role, Choucair’s visionary approach challenges industry norms and embraces novel strategies, as demonstrated by her key role in expanding the group’s presence into new Middle Eastern markets. Recently, OMG has introduced Momentum, its ESG solution for the MENA region. This consultancy employs tools like the global ESG toolkit and a carbon calculator to help clients align media investments with ESG priorities. The group has partnered with ClimatePartner, offering access to a global carbon calculator for estimating emissions in media plans by channel.
About OMG Media
The recently published FY 2023 report by COMvergence reveals that OMG MENA achieved top group and agency rankings in both the GCC and Egypt during the previous year. In FY23, OMG’s agencies successfully acquired 22 new clients and retained six in the GCC, positioning the holding company well ahead of its closest competitor. Key account wins contributing to this success include DET, RAK Authority, JLR, Diriyah Gate Company, Mobily, and HSBC.
Similarly, in Egypt, OMG and OMD emerged as leading entities in their respective categories, gaining eight new clients and retaining three. OMD particularly stood out by securing twice as much new business compared to its closest competitor. This marks the first instance where Egypt’s performance is analysed separately. Notable wins for OMG in Egypt include Madinet Masr and Beko. To compile these rankings, the Paris-based consultancy evaluated a total of 99 pitches and account movements in the GCC region, alongside 28 in Egypt.
In January 2024, OMG MENA teamed up with The Neuron to access its specialist DSP for planning, booking, and monitoring campaigns in over 80 countries. This collaboration promises digital innovation as well as enhanced audience engagement. In MENA, outdoor advertising retains a 20 percent share of media investments, with 50 percent of its revenues now directed to digital sites, exceeding the global average of 40 percent.
Name: Elham Mahfouz
Designation: CEO
Company: Commercial Bank of Kuwait (CBK)
Industry: Banking
With an expansive career spanning over 35 years in the banking industry, Mahfouz’s journey began as a credit analyst and has been marked by illustrious positions within Kuwait’s financial sector. Her tenure includes senior leadership roles such as acting general manager of International Banking, showcasing her acumen for steering strategic initiatives across global operations. Her expertise and leadership prowess led to her appointment as the general manager of International Banking in December 2010, underscoring her adeptness in driving international financial strategies.
Transcending organisational boundaries, Mahfouz’s professional trajectory at CBK has been transformative. Assuming the mantle of deputy CEO in April 2012, she exemplified a commitment to excellence and vision that culminated in her promotion to the position of CEO in November 2014. As the visionary leader at the helm of one of Kuwait’s premier financial institutions, Mahfouz has been instrumental in shaping CBK’s trajectory, steering it towards sustained growth and innovation. Her leadership acumen and visionary approach have been instrumental in positioning CBK as a key player in Kuwait’s dynamic financial ecosystem.
Beyond her role as CEO, Mahfouz’s oversight extends to key departments such as retail banking, treasury, and corporate credit, reflecting her multifaceted leadership capabilities and strategic vision. Renowned as one of Kuwait’s most influential women, her robust industry experience and unwavering dedication to excellence have been instrumental in propelling CBK to new heights of success and relevance in the ever-evolving financial landscape.
About Commercial Bank of Kuwait (Al Tijari)
As the second oldest bank in Kuwait, CBK offers a broad range of services extending from retail banking to financing large-scale projects. The bank leverages its substantial capital base and extensive expertise to play a pioneering role in the Kuwaiti economy.
CBK, as one of Kuwait’s largest financial entities, holds a significant retail and corporate banking footprint in the region. Founded in June 1960, CBK is a robust corporate and retail banking franchise, offering innovative financial and investment solutions to its expanding customer base. The bank has emerged as a key financial supporter, facilitating loans for various power, construction, and prominent infrastructure projects within Kuwait. The bank aims to evolve as “the digitised bank of choice, with innovative banking solutions tailored to customers’ lifestyles, promoting environmental and social friendliness.”
In February 2024, CBK and Network International (Network), the leading enabler of digital commerce across the MEA region, announced an intent to strategically collaborate to significantly enhance CBK’s ongoing digital transformation and payment innovation initiatives. The partnership marks a significant milestone in the digital transformation journey of Al Tijari, the second oldest and one of the leading financial institutions in Kuwait. CBK will leverage Network’s cutting-edge technology and expertise in end-to-end issuer processing capabilities, including fraud detection and prevention, tokenisation, cardholder self-serve application, advanced authentication, and instant issuance.
Name: Elie Habib
Designation: Co-founder and CTO
Company: Anghami
Industry: Media
Anghami, often hailed as the superior counterpart to Spotify in the MENA region, was launched when Habib identified a significant gap in the digital music service domain. Together with his partner Eddy Maroun, they officially launched Anghami in November 2012 in Beirut, Lebanon as a response to a local void in the local music scene. One of the most significant triumphs was its feat of becoming the first Arab technology company to be listed on NASDAQ and was the first time an Arab company had listed on NASDAQ in over 25 years.
About Anghami
As the first and foremost music streaming technology platform in the MENA region, Anghami serves as the go-to destination for Arabic and international music, podcasts, and entertainment. Today, Anghami possesses one of the largest music catalogues in the MENA region, with over 73 million users In MENA, Europe and USA, providing over 30 million Arabic and international songs encompassing millions of songs and licensed content from prominent Arabic labels, international labels, distributors, and independent artists.
Concurrently, the company has been cultivating enduring relationships with major Arabic and international music labels including Rotana Music, Universal Music Group, Sony Music Entertainment, Warner Music Group, and the Merlin Network.
In 2021, Anghami relocated its headquarters to Abu Dhabi as part of the Abu Dhabi Global Market (ADGM) and supported by the Abu Dhabi Investment Office (ADIO). The company also has offices in Beirut, Dubai, Cairo, and Riyadh, with more than 160 employees. Anghami also has offices in Beirut, Dubai, Cairo, and Riyadh, and operates across 16 countries in the MENA region. Notably, Anghami has recently extended its services to encompass the US, Canada, and Europe.
On 17 May 2023, Anghami Inc. announced its unaudited preliminary results for Q1 2023 detailing that Anghami successfully achieved an unaudited revenue of $10.2m, representing a 6 percent increase compared to Q1 2022.
In April 2024, the UAE-based online streaming platform OSN+ and Anghami Inc. successfully completed their merger, forming a powerful media conglomerate following the conclusion of the transaction and the receipt of all necessary regulatory approvals. Under the new structure, OSN+ now holds a majority stake of 55.45 percent in Anghami, valuing each share at $3.69. This significant acquisition solidifies OSN+ as a prominent player in the media industry.
This strategic move aims to leverage the strengths of both entities and enhance their offerings to consumers in the competitive streaming market. In a related development, Saudi Arabian media powerhouse MBC Group recently acquired a 13.7 percent stake in Anghami, further shaping the landscape of the media industry in the region. Building on its momentum, Anghami, which went public on the US NASDAQ exchange last year, secured a $5m investment from Saudi VC firm SRMG Ventures in August. Despite these developments, Anghami will continue to be listed on the NASDAQ, ensuring its visibility and reach in the global market.
Name: Eman Abdulrazzaq
Designation: Group Chief Human Resource Officer
Company: Emirates NBD
Industry: Banking
In addition to her current role, Abdulrazzaq holds the position of board member at the Emirates Institute of Finance (EIF) and serves as the executive member at Emirates NBD Group. In this role, she oversees a workforce of over 26,000 employees across nine countries.
She has played a crucial role in spearheading a transformative work culture embedded with proactive practices and driving Future Skills development initiatives. Her efforts focus on reskilling and nurturing an agile workforce equipped to navigate the evolving digital landscape.
Prior to joining Emirates NBD, Abdulrazzaq served as the regional head of Strategy and Chief of Staff at HSBC Bank Middle East Limited for the MENAT regions. In this capacity, she also oversaw Sustainable Finance initiatives. Commencing her career at HSBC as a corporate banker, she transitioned to Human Resources where she successfully led the function through multifaceted change programmes.
Notably, she spearheaded the implementation of new technologies, triggering significant cultural shifts and operational enhancements across HR functions in the MENAT region. Her expertise expanded further at HSBC, where she took on the roles of chief of Staff and Strategy and Planning. As a trusted advisor to the CEO, MENAT, she drove strategic programmes aimed at accelerating growth and boosting business revenue.
About Emirates NBD
Emirates NBD is a premier banking group in the MENAT region, operating in 13 countries and recognised as the leading financial services brand in the UAE with a brand value of $3.89bn. The group caters to individuals, businesses, governments, and institutions, facilitating the realisation of diverse financial objectives through a wide range of banking products and services. These offerings encompass retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations.
In April 2024, Emirates NBD announced a net profit of $1.82bn in the first quarter of 2024, marking a 12 percent increase from $1.6bn reported in the corresponding period last year. Operating income for the quarter stood at $2.9bn, showcasing a slight rise from $2.8bn in the previous year. Emirates NBD attributed this performance to a robust deposit mix, steady loan growth, and significant fee and commission growth across all business segments. During the first quarter of the year, Emirates NBD’s asset base expanded by 5 percent, crossing the milestone of $245bn for the first time in its history.
Emirates NBD has joined a pledge to accelerate the achievement of the UN Sustainable Development Goal 5 (achieve gender equality and empower all women and girls). As part of its ongoing commitment to promote gender equality and representation of women in leadership roles, the group is among the newest cohort of eight leading local and multinational companies in the UAE to sign the SDG 5 Pledge at an event hosted by the UAE Gender Balance Council (GBC).
Name: Essa Kazim
Designation: Governor
Company: Dubai International Financial Centre (DIFC)
Industry: Finance
Kazim’s professional journey commenced in 1988 as a senior analyst in the Research and Statistics Department of the UAE Central Bank, a key role that laid the foundation for his illustrious career. Transitioning to the Dubai Department of Economic Development, he continued to expand his expertise, eventually being appointed as the director of Planning and Development in 1993.
Further advancing in his career trajectory, he assumed the position of director-general of Dubai Financial Market, playing an instrumental role in shaping the financial landscape from 1999 to 2006. Subsequently, he ascended to the role of chairman from 2007 to 2021, showcasing his leadership acumen and strategic foresight in the financial sector.
Beyond his current role, Kazim holds a series of key positions across prominent institutions, including his chairmanship of Borse Dubai, deputy chairmanship of the Supreme Legislation Committee in Dubai, and membership on the influential Securities and Exchange Higher Committee and Dubai Supreme Fiscal Committee.
Kazim’s academic accomplishments mirror his professional success, as evidenced by the honorary doctorate bestowed upon him by Coe College and his academic credentials including a Master’s Degree in Economics from the University of Iowa (USA) and a Master’s Degree in Total Quality Management from the University of Wollongong, UAE.
Kazim’s influence extends to specific boards and committees, as evident from his role as a member of the Higher Board of Directors of the Dubai International Financial Centre (DIFC), chairman of the DIFC Authority and Investments Board of Directors, and a board member on entities such as Nasdaq Dubai and the Free Zones Council. Additionally, his involvement in e&’s board underscores his commitment to diverse sectors and his enduring impact on the financial landscape.
About DIFC
DIFC continued to strengthen its position as the premier global financial centre for the MEASA region, achieving record-breaking results in 2023. The Centre is now the operational base for 5,523 active companies, marking a notable 26 percent increase from 4,377 in 2022. A total of 1,451 new companies were incorporated in DIFC in 2023, representing the highest annual registration figures in the Centre’s history, with a substantial 34 percent rise. DIFC also announced that it is on track to surpass its goal of doubling its GDP contribution by 2030.
The combined revenues in 2023 expanded at their fastest pace since inception, nearing $354m, a significant 23 percent surge compared to 2022. Operating profit reached $234m, indicating a 27 percent increase. Illustrating the robust financial status of DIFC, total assets amounted to $4.9bn, up by 18 percent.
The year saw the addition of prominent global entities such as Alliance Bernstein, Asia Research & Capital Management, Balyasny Asset Management, and more, further augmenting DIFC’s financial landscape.
Name: Fadi Ghandour
Designation: Executive Chairman
Company: Wamda Capital
Industry: Investment
In 1982, Ghandour ushered in a new era of logistics in the MENA region by launching Arab American Express, later branded as Aramex which specialised in the delivery of parcels originating from the US to countries in the Middle East. His entrepreneurial foresight and innovative spirit positioned him as a key player in the thriving startup landscape of the MENA region.
Throughout his tenure, Aramex evolved into a leading logistics powerhouse within emerging markets, boasting a global presence with 250 offices spanning across 90 countries. Notably, Ghandour achieved significant milestones by taking Aramex public twice, initially on Nasdaq, ushering in a historic moment for the Arab world, and subsequently on the Dubai Financial Market. Upon his strategic exit from the company, he divested his remaining 10 percent stake to Boson Ventures Corporation.
As a founding investor in Maktoob, one of the region’s pioneering tech companies, he catalysed MENA’s tech ecosystem, culminating in Yahoo’s ground-breaking acquisition of Maktoob in 2009. He continues to contribute his expertise as an active member on the Aramex board. Diversifying his entrepreneurial pursuits, he has been involved in founding, investing in, and launching several companies and non-profit organisations across digital technology, hospitality, fitness and wellness, and security sectors.
Noteworthy among his endeavours is the establishment of Wamda Capital, a venture capital firm with a $75m growth fund dedicated to nurturing and fostering entrepreneurship ecosystems throughout the MENA region. Moreover, Ghandour holds strategic roles on the boards of leading entities within the financial and entrepreneurial landscapes, including Abraaj Capital and Endeavor Jordan, while providing advisory support to the Suliman S. Olayan School of Business at the American University of Beirut. A committed philanthropist, he founded Ruwwad Al-Tanmeya, a social enterprise uplifting displaced communities in Lebanon, Palestine, Jordan, and Egypt, and co-founded the Al-Riyadi sports club in Jordan.
About Wamda
Cultivating innovation in the MENA region, Wamda is a dynamic platform and ecosystem dedicated to fostering innovation and nurturing burgeoning startups. Empowering emerging entrepreneurs with the essential resources and support, the platform plays a key role in equipping these ventures to thrive in the ever-evolving business terrain.
At the heart of Wamda’s mission lies Wamda Capital, a crucial component of the organisation that serves as a venture capital fund, providing crucial financial backing to early-stage and growth-stage startups across MENA. By offering financial support, Wamda empowers these start-ups to turn innovative ideas into sustainable businesses, laying the groundwork for long-term success.
Wamda is also deeply committed to fostering a vibrant entrepreneurial ecosystem through mentorship programmes and networking initiatives. By linking start-ups with experienced mentors, industry experts, and potential investors, Wamda facilitates access to guidance, strategic partnerships, and additional funding to fuel their growth trajectory.
Name: Fahad Al Hassawi
Designation: CEO
Company: Du
Industry: Telecoms
In his current role at du, a prominent player in the telecommunications sector, Al Hassawi began his transformative journey with the company at its inception in 2006. Initially holding the position of executive vice president of Human Resources from April 2006 to December 2009, his scope of responsibilities extended across diverse business units. Al Hassawi’s strategic oversight encompassed enterprise and consumer engagement, branding, communication, government relations, and the enhancement of customer experiences. Noteworthy achievements include spearheading strategic partnerships, amplifying network experiences, and elevating customer engagement standards.
In the ever-evolving landscape of the ICT sector, he leads telecom operations within du’s digital lifestyle and innovation divisions with finesse. His multifaceted responsibilities involve steering infrastructure development, implementing cutting-edge technological advancements, managing network investments, and driving the ongoing expansion of 5G capabilities. Furthermore, beyond his operational endeavours, Al Hassawi remains steadfast in nurturing the growth of the next generation of Emirati entrepreneurs and business leaders, emphasising the importance of fostering local talent.
Al Hassawi’s visionary leadership guides du through a digital transformation journey aimed at enhancing customer experiences and unlocking the full potential of the company’s operational capacities. His thought leadership extends to the development of Emirati talents, significantly shaping the industry’s trajectory. With a rich background that includes leadership roles at esteemed organisations like Emirates, Al Hassawi brings a wealth of experience and expertise to the telecommunications sector, poised to drive innovation and excellence in the industry.
About du
In March 2024, du, part of Emirates Integrated Telecommunications Company (EITC), announced a partnership with Microsoft to drive innovation in the digital landscape of the UAE. Through the integration of Generative AI technology powered by Microsoft Azure and Azure Open AI Service, du aims to enhance operational efficiency and customer experience across its operations. This collaboration will focus on leveraging Generative AI to optimise call centre analytics and agent response times, delivering personalised solutions, and elevating the overall customer service standards. Through this collaboration, du seeks to streamline its go-to-market strategy, positioning itself as a leader in the UAE’s digital realm.
In April 2024, du introduced du Pay to revolutionise digital financial services across the UAE. Licensed by the Central Bank of the UAE, du Pay offers an array of digital financial and payment services, ranging from international money transfers to mobile top-ups and bill payments. The platform supports salary deposits through IBAN, serving as a versatile account available in six languages. With aims to establish a strong foothold in the international money transfer market, du Pay prioritises simplicity and customer-centric experiences. Among its standout features are the options for international money transfers to over 200 countries at competitive rates, peer-to-peer transfers within the UAE, and the provision of a unique IBAN for direct fund deposits.
Name: Faisal Al Bannai
Designation: Chairman
Company: EDGE
Industry: Technology
With a solid reputation for building companies and high-calibre teams, Al Bannai was appointed at the start of 2022 as the chairman of the board of directors at EDGE and secretary general of ATRC. He previously held the role of CEO and Managing Director of EDGE from 2019 to 2022. He went on to launch Axiom, a mobile phone retailer in 1997, which grew from only four employees to one of the region’s largest phone distributors and retailers. In 2014, Prior to his role at EDGE, Al Bannai’s entrepreneurial spirit is showcased through his founding of DarkMatter 2.5, a significant player in the regional tech industry with substantial annual turnovers and employee bases.
He is also the secretary general of the Advanced Technology Research Council (ATRC) which unifies Abu Dhabi and the UAE’s initiatives throughout the entire national technology landscape, spanning strategy, investment, research, and application, in order to achieve breakthroughs that resonate globally. Also a member of the Board of Trustees for the Khalifa University of Science, he has been at the helm of the team responsible for driving policy and regulation for agile decision-making; defining Abu Dhabi’s research strategy across academia and industry; and consolidating funds for efficient investment.
Al Bannai is also a board member at the United Arab Emirates University and board member of the UAE Space Agency. With a strong focus on mission support and intelligence, he leverages his vast experience in developing comprehensive security technology solutions that harness innovative advancements to address modern security challenges.
Having earned a Bachelor’s Degree in Finance from Boston University (USA) and a Master’s Degree in Commerce and Finance from City University in the UK, Al Bannai’s career trajectory and influential presence have cemented his status as one of the most prominent and inspiring businessmen in the Middle East region. In April 2024, a federal decree issued by President Sheikh Mohamed appointed Al Bannai as the adviser for Strategic Research and Advanced Technology Affairs. The UAE’s commitment to advancing technology is underscored by its global standing in innovation.
About EDGE
Launched in November 2019, the UAE’s EDGE is one of the world’s leading advanced technology groups, established to develop agile, bold and disruptive solutions for defence and beyond, and to be a catalyst for change and transformation. It is dedicated to bringing breakthrough innovations, products, and services to market with greater speed and efficiency, to position the UAE as a leading global hub for future industries, and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive.
With a focus on the adoption of 4IR technologies, EDGE is driving the development of sovereign capabilities for global export and for the preservation of national security, working with front-line operators, international partners, and adopting advanced technologies such as autonomous capabilities, cyber-physical systems, advanced propulsion systems, robotics and smart materials. EDGE converges R&D, emerging technologies, digital transformation, and commercial market innovations with military capabilities to develop disruptive solutions tailored to the specific requirements of its customers. Headquartered in Abu Dhabi, capital of the UAE, EDGE consolidates more than 25 entities into five core clusters: Platforms & Systems, Missiles & Weapons, Space & Cyber Technologies, Trading & Mission Support, and Homeland Security.
Name: Faisal Alayyan
Designation: President and CEO
Company: Higher Colleges of Technology (HCT)
Industry: Education
With over two decades of experience in capacity development, project management, and planning within the education sector, Dr. Alayyan leads the Higher Colleges of Technology (HCT), the largest higher education institution in the UAE. Through his visionary leadership, HCT has launched numerous initiatives focused on empowering students to maximise their potential and make meaningful contributions to their communities. Driven by his leadership, HCT has earned a reputation for excellence, innovation, and is poised for further growth and expansion.
Prior to his current role, he held the position of vice president at Rabdan Academy, where he was instrumental in establishing the institution as an independent educational entity endorsed by the Abu Dhabi Executive Council. Emphasising the development of national capabilities, he facilitated the qualification of Emiratis across various sectors including safety, emergencies, crises, defence, security, and disaster management. Throughout his career, Dr. Alayyan has held leadership roles in prominent governmental entities such as Khalifa University, the Critical Infrastructure & Coastal Protection Authority, and the Tawazun Economic Council.
In addition to these roles, he serves on the boards of several significant organisations and businesses. Noteworthy roles include an advisory board membership at the College of Education at UAE University, Emirates Reit, CERT, as well as a board membership at Emirates Schools Establishment.
About Higher Colleges of Technology
The Higher Colleges of Technology is the largest higher education institution in the UAE, renowned for its leadership in applied and technological education. HCT is a community of more than 23,000 students and 2,000 staff based on 17 modern, technology-enhanced campuses in Abu Dhabi, Al Ain, Dubai, Fujairah, Madinat Zayed, Ras Al Khaimah, Ruwais and Sharjah.
The inaugural student-led space mission, HCT-SAT 1, has been initiated by the HCT in collaboration with the Mohammed Bin Rashid Space Centre (MBRSC). This Earth-observation CubeSat project, with a unit size of 1U (10cm x 10cm x 10cm), is scheduled for launch by the end of 2024. Through this partnership, MBRSC’s engineers are sharing comprehensive knowledge and mentorship with the students throughout the satellite’s life cycle, encompassing critical phases such as design, development, assembly, testing, and operational management. The joint efforts of MBRSC and HCT transcend the mere launch of the payload, focusing on an educational journey that empowers students and faculty through specialised training and robust support in CubeSat curriculum.
A diverse team of 34 HCT students from various engineering disciplines are collaborating on this interdisciplinary project. Guided by nine dedicated HCT faculty members, the students are gaining practical experience that will equip them with essential skills to further the UAE’s National Space Programme. This initiative aims to provide HCT students with advanced knowledge in space sciences, reinforcing the importance of space research in advancing human progress and showcasing the UAE’s strategic achievements in space exploration.
Name: Ghada Alrumayan
Designation: Group Chief Marketing and Communications Officer (GCMO)
Company: ROSHN Group
Industry: Real Estate
With a wealth of experience spanning over a decade in the communications sector, Alrumayan excels in fostering sustainable relationships across governmental and private sectors, enhancing organisational reputation as well as outreach.
In her current role overseeing one of the largest residential property developments in KSA, Alrumayan’s media strategy expertly navigates the complexities of a large-scale company, utilising a diversified approach that effectively leverages both established and emerging media channels to promote ROSHN’s new sustainable, quality-focused residential communities. A key component of her strategy involves utilising ROSHN’s prominent sponsorship activities to elevate brand recognition and achieve the company’s communication objectives.
Notable partnerships include KSA’s inaugural Formula 1 events in Jeddah, the Riyadh Season, and the Saudi Pro League, contributing to significant media efforts in 2021. Prior to her work at ROSHN, Alrumayan held the role of senior vice president of Public Relations, Communications, and Events at Riyad Bank, where she spearheaded the development and execution of the bank’s communication strategies, solidifying its reputation for expertise and transparency among stakeholders. Her tenure at the Olayan Group involved managing strategic partnerships and the supply chain department, while her role at Olayan Financing Co. focused on corporate communications.
Alrumayan’s diverse career in communications includes roles such as corporate communications manager at Saudi Hollandi Bank, marketing manager at Kempinski Hotels, director of Social Development at Atheeb Group, and roles at Etihad Atheeb Telecom Co. and King Faisal Specialist Hospital and Research Centre. Throughout her professional journey, she has demonstrated a deep commitment to building strong relationships and driving impactful communication strategies across various organisations.
About ROSHN Group
ROSHN Group, owned by Saudi’s Public Investment Fund (PIF), is the leading real estate developer in the nation. They are known for creating integrated living environments that feature accessible green spaces, sports amenities, and cycling infrastructure. Through the use of advanced technology and sustainable practices, ROSHN is spearheading large-scale construction projects across KSA. Their ambitious plans include the development of over 400,000 homes, 1,000 educational facilities, and 700 places of worship by 2030, covering a land area exceeding 200 million sq m.
ROSHN has set a precedent with the successful early delivery of the SEDRA community in Riyadh, spanning 35 million sq m, followed by the completion of the ALAROUS community in Jeddah, covering 4 million sq m. Currently, they are working on various projects, including the innovative MARAFY canal project. Beginning in February 2024, MARAFY will connect residential areas in Jeddah to the Red Sea via an 11km canal. The project will complement the ALAROUS community with a mix of retail, leisure, and hospitality offerings to appeal to the residents of the community. MARAFY aims to enhance Jeddah’s liveability and align with the goals of Saudi Vision 2030.
Name: Ghaith Al Ghaith
Designation: CEO
Company: Flydubai
Industry: Aviation
Backed by over 35 years of experience in the aviation industry, Al Ghaith was appointed to his current role to launch the budget airline in 2008 prior to its official start of operations in Dubai in 2009. With a focus on enhancing the passenger experience and maintaining cost-effectiveness, he has implemented innovative products and technologies. As the driving force behind flydubai’s strategic direction, Al Ghaith works closely with Sheikh Ahmed bin Saeed Al Maktoum, the group’s chairman.
Before leading flydubai, he served as the executive vice president for commercial operations worldwide at Emirates for 14 years. His journey with Emirates began as a management trainee in 1986, and over the years, he held various roles, contributing to the airline’s growth. Al Ghaith’s strategic vision and deep understanding of the aviation industry have played a key role in shaping the success of flydubai.
About flydubai
During the summer of 2023, flydubai carried more than 4 million passengers between June and mid-September, up 30 percent on the same period of 2022. It operated 32,000 flights across a network of 120 destinations in 52 countries, a 22 percent increase on the number of flights during the same period last year. flydubai’s expansive network and financial accomplishments under Al Ghaith’s leadership testify to the airline’s significant contributions to the aviation sector, further solidifying his position as a distinguished player in the industry.
On 18 January 2024, flydubai inaugurated direct flights to Mombasa, Kenya, marking its expansion to 12 destinations in 11 African countries. Flydubai’s African network encompasses Addis Ababa, Alexandria, Asmara, Cairo, Dar es Salaam, Djibouti, Entebbe, Hargeisa, Juba, Mogadishu, Mombasa, and Zanzibar. The introduction of direct flights to Mombasa is a milestone as it establishes flydubai as the first UAE national carrier to offer non-stop flights from Dubai to the coastal city in southeast Kenya.
In March 2024, flydubai revealed its plans to launch services to two destinations in KSA. This includes the resumption of flights to Al Jouf and the initiation of operations to Red Sea International. Commencing from 18 April, flights to Al Jouf Airport (AJF) and Red Sea International Airport (RSI) will operate twice a week from Terminal 2 at Dubai International (DXB). Red Sea International Airport (RSI) was established to offer a convenient pathway for guests traveling to The Red Sea. By the year 2030, the Red Sea is expected to encompass 50 resorts, featuring up to 8,000 hotel rooms and over 1,000 residential properties spread across 22 islands and six inland sites.
Notably, flydubai has established a network of 129 destinations across 58 countries, served by a modern fleet of 86 Boeing 737 aircraft. In the early months of 2024, the airline has already launched services to Langkawi, Mombasa, and Penang, with plans to add flights to Basel, Riga, Sochi, Tallinn, as well as Vilnius later in the year.
Name: Hamid Al Zaabi
Designation: Director General
Company: Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AMLCTF)
Industry: Government
In his founding role at the Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AMLCTF), the UAE’s primary authority for combating financial crime, Al Zaabi shapes the national strategy and policy for anti-money laundering and counter-terrorism financing, ensuring the implementation of the National Strategy and Action Plan. The EO AML/CTF plays a crucial role as a national champion and safeguard, overseeing the development of a sustainable and resilient AML/CFT system in the UAE.
Enhancing investor trust
Al Zaabi has represented the UAE at Financial Action Task Force (FATF) plenaries since 2010, most recently leading the national delegation. As part of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Counter Terrorism Financing, he guided the UAE through the FATF’s International Cooperation Review Group process, resulting in the country’s delisting in February 2024. Under his leadership, the national AML/CFT system was strengthened, leading to improved compliance with FATF Recommendations and formal observer status at the Asia/Pacific Group.
Analysts have highlighted that the UAE’s removal from the FATF’s grey list is set to instil a greater sense of trust and confidence among investors in the UAE, leading to a boost in sustainable capital inflows, foreign direct investment, and portfolio flows. It is also anticipated to bolster the expansion of both the domestic banking and financial sectors, along with the international financial free zones. With the UAE’s adherence to international laws and conventions, it is poised to attract wealthy global investors and foreign businesses, encouraging them to invest more comfortably in the country. Moreover, the asset and wealth management activities of UAE-based family offices are projected to reap significant benefits from this shift.
In February 2024, Al Zaabi was honoured with the Order of Zayed II First Class by Sheikh Mohamed bin Zayed Al Nahyan, UAE President, in recognition of his role in the UAE’s removal from FATF’s list of ‘Jurisdictions under Increased Monitoring’.
Backed by a wealth of experience
Before establishing the EO AML/CTF, Al Zaabi held senior positions in national security for over two decades, focusing on financial crime, counterterrorism, and the financing of terrorism. He contributed to various high-level strategic projects as a member of senior national committees and task forces, including the UAE’s successful hosting of Expo 2020 Dubai and the government’s response to Covid-19.
Frequently engaged in influential international forums, Al Zaabi’s role as a member of the National Committee for Combating Money Laundering and the Financing of Terrorism and Illegal Organisations has provided him with a significant platform to shape and contribute to the global dialogue surrounding financial security and regulatory compliance practices.
Of particular significance is Al Zaabi’s instrumental involvement in representing the UAE during critical FATF meetings held in Paris in 2019. During these gatherings, he played a key role in discussions and strategic deliberations concerning the Mutual Evaluation Report of the UAE, demonstrating his exceptional capabilities in navigating complex regulatory frameworks and advocating for robust AML/CFT measures. His contributions have not only reinforced the UAE’s commitment to international standards but have also underscored his profound dedication to advancing the collective efforts in combating financial crimes on a global scale.
Al Zaabi, an influential figure in the domain of anti-money laundering and countering the financing of terrorism (AML/CFT), is widely acknowledged as a distinguished thought leader within the international security and financial landscapes. He is a sought-after speaker at prestigious conferences and seminars worldwide, where he shares his expertise on AML/CFT practices, leadership, and effective management. Furthermore, Al Zaabi has represented the UAE Government with exceptional distinction at distinguished events such as the Crans Montana Forum and other high-level gatherings. He has solidified his standing as a leading spokesperson for the UAE’s continuous endeavours in combatting financial crime and championing global financial integrity.
He is a graduate of the UAE Government Leadership Programme and holds two master’s degrees: One in Senior Leadership Development from the International Business School and another in Human Resources Management from Abu Dhabi University. He earned a BA in Legal and Police Sciences from the Police College, Abu Dhabi.
Name: Ghassan Aboud
Designation: Founder and Chairman
Company: Ghassan Aboud Group (GAG)
Industry: Diversified
An international businessman, philanthropist, and entrepreneur based in the UAE, following Aboud’s brief stint in the media industry, in 1994, he adeptly identified the potential for international trade in Dubai and launched his trading company. Over the course of around three decades, his modest automotive trading venture evolved into a thriving conglomerate encompassing various sectors and operating in over 10 countries. Today, leading a workforce of over 2,500 employees, his group is headquartered in Dubai with additional offices in Egypt, Jordan, Turkey, Belgium, and Australia.
The conglomerate’s diverse portfolio spans industries such as retail, hospitality, media, food, digital marketplaces, automotive, and more. In 2008, the Group introduced Live Point Art Production, followed by Crystalbrook Collection, a hotel development and management company in Australia, and the establishment of Grandiose Supermarket in 2016, offering hypermarkets, supermarkets, and convenience stores across the UAE. Aboud also spearheaded GAG’s venture into digital e-commerce with the launch of the B2B marketplace BuyGro in 2020 in the UAE, catering to buyers from cafes, grocery stores, and restaurants.
About Ghassan Aboud Group
The Ghassan Aboud Group oversees a range of established businesses, including the renowned food and grocery retail chain, Grandiose, Olive Country, Gallega Logistics, Galean Healthcare, and the eB2B platforms BuyGro and BuyParts 24. Additionally, the group owns and operates the Crystalbrook Collection of hotels and resorts in Australia. Their automotive division operates in over 100 countries, offering a wide array of auto products. Notably, the group has collaborated in two significant public-private partnerships with the Abu Dhabi Ports Group to establish leading hubs in the food sector (Abu Dhabi Food Hub-KEZAD) and the automotive sector (Global Auto Hub).
Demonstrating their commitment to sustainability within the hospitality industry, the group has introduced the innovative #responsibleluxury initiative. Through this initiative, the company has reimagined their services to provide guests with a sustainable approach to luxury. Crystalbrook Collection has successfully adopted environmentally friendly practices, such as eliminating plastic usage throughout the guest experience at their hotels. As the first hospitality group in Australia to achieve 100 percent waste-free bathrooms, all amenities are either biodegradable or recyclable.
The Abu Dhabi Food Hub-KEZAD serves as an exclusive marketplace designed to streamline domestic and international food trade. Positioned strategically between Dubai and Abu Dhabi, the KEZAD project covers 3.3 km2 and is a joint venture between the Abu Dhabi Ports Group and the Ghassan Aboud Group. In collaboration with Rungis, it aims to be a future-focused supply chain platform and a vital component of the UAE’s food security agenda.
Expected to become the largest integrated ecosystem for trading all food commodities in the region, the hub will accommodate traders, government facilitators, private commercial service providers, logistics service providers, as well as value-added service providers.
Name: Hana Al Rostamani
Designation: Group CEO
Company: First Abu Dhabi Bank (FAB)
Industry: Banking
Since assuming her current leadership role at FAB in 2021, Al Rostamani has been driving innovation and transformative initiatives within the banking sector. With a distinguished career spanning more than 25 years, she has emerged as a trailblazer and shattered barriers as the first female CEO of a UAE-based bank.
Under her leadership, FAB is strategically advancing towards sustainable growth and prosperity. A significant milestone was marked during COP28 in Dubai, where FAB unveiled plans to offer over $135bn in sustainable and transition financing by 2030. This pledge underscores Al Rostamani’s unwavering commitment to responsible and ethical banking practices.
As the head of one of the world’s largest and most reputable financial institutions, with assets exceeding $300bn, Al Rostamani is positioned as a transformative leader reshaping the banking landscape. Her steadfast dedication to fostering a culture of innovation, diversity, and inclusion within FAB serves as a prominent example of her leadership as a pioneering female CEO in the UAE banking industry.
In her current role as chair of the Global Council on the Sustainable Development Goals, Al Rostamani focuses on development goal 7, ‘Affordable and Clean Energy’. She also serves as a board member of prominent organisations such as Buna, aimed at enhancing investment ties among Arab economies. Additionally, she holds positions on the boards of the Institute of International Finance (IIF), the International Institute for Management Development (IMD), and the executive board of the US-UAE Business Council.
Prior to her appointment in January 2021, Al Rostamani served as the deputy group chief executive officer and group head of Personal Banking at FAB. In this capacity, she led the transformation of FAB’s consumer banking segment, emphasising a customer-centric and digital-first approach. With prior experience in diverse roles within First Gulf Bank, Citibank, and AW Rostamani Group, both domestically and internationally, she brings a wealth of expertise and insight to her current leadership role at FAB.
About FAB
In January 2024, FAB successfully completed the issuance of a five-year $800m Sukuk at US Treasury +85bps, resulting in an all-in yield of 4.779 percent. This milestone signifies the first Sukuk issued globally in 2024 and serves as the initial offering in the region for the year. With a focus on diversity, the allocation of this Sukuk saw 76 percent directed towards dedicated Islamic investors and 38 percent towards international counterparts. This issuance reinforces FAB’s position as a leading provider of Islamic finance and a trusted partner for investors on a global scale.
In March 2024, a significant partnership between Mastercard and FAB was announced, heralding an exclusive long-term global collaboration that extends their longstanding relationship in the EEMEA region. This transformative agreement, covering key markets such as the UAE, KSA, Oman, and Egypt, will unite these industry frontrunners to drive advancements in the digital payments landscape across the region.
Name: Khalifa Al Zaffin
Designation: Executive Chairman
Company: Dubai Aviation City Corporation and Dubai South
Industry: Government
Al Zaffin is the Executive Chairman of Dubai Aviation City Corporation (DACC), a government of Dubai entity formulated under the wise vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to cement the emirate’s leading position as a logistics and aviation hub. The expansive scope of DACC includes the management and strategy of Dubai’s twin aviation hub: the Dubai International Airport and world’s largest airport in the making, the Al Maktoum International Airport.
The far-reaching purview of DACC also includes Dubai South and Dubai Aviation Engineering Projects, the construction arm of the Dubai aviation sector dedicated to developing the infrastructure and enhancing the capacity of airports. Al Zaffin is a graduate of Arizona State University and holds a Bachelor of Science degree in Chemical Engineering and outside his work, he has a broad range of academic, cultural and public service interests.
At the forefront of Dubai’s dynamic aviation expansion, Al Zaffin is an eminent leader in the industry. Through close coordination with the aviation community of Dubai, he plays a key role in formulating economic, investment, fiscal policies and strategies in support of the emirate’s overarching aviation vision, with emphasis on planning, execution and building the region’s first master planned airport city, Dubai South.
About Dubai South
Striving towards achieving long-term growth and building a future-proof dynamic destination, Al Zaffin’s ingenuity is the key driver powering the strategy, execution, and operations of Dubai South. An integrated city that spans 145 sq km and built around the Al Maktoum International Airport, Dubai South, home to the Expo City Dubai, is integral to maintaining the emirate’s position among the top global centres for trade and transportation, and as a leading business hub.
Dubai South, the prominent single-urban master development with a strategic focus on aviation, logistics, and real estate sectors, successfully concluded its most impressive year to date in 2023, marking a series of significant achievements across its multifaceted divisions. During last year, Dubai South achieved milestones that included the addition of new corporate entities, the successful sell-out of various projects, and the establishment of notable collaborations and partnerships within the industry.
A proud achievement last year was the delivery of phase 1 of the esteemed Pulse Villas project by Dubai South Properties (DSP), boasting a total of 268 crafted units. The Pulse Villas, a pioneering venture within the Residential District, unveiled in 2021 with a collection of 2-, 3-, and 4-bedroom units across its phases. Moreover, the Logistics District at Dubai South solidified its position as a key player in the burgeoning logistics sector in the UAE by forging key partnerships and agreements. Collaborative ventures with industry giants, including dnata, Beijing New Aerotropolis Holdings China, and Sinotrans, heralded Dubai South’s ascendancy as a hub for logistics excellence.
Name: Helal Al Marri
Designation: Director General
Company: Dubai Department of Economy and Tourism (DET)
Industry: Tourism
A well-known figure in Dubai, Al Marri holds a key responsibility in enhancing Dubai’s status as a sought-after destination for investment, business, and leisure, while concurrently bolstering the emirate’s economic foundation. Alongside his position at the DET, he holds significant leadership roles. He stands as a distinguished member of the Executive Council of Dubai and concurrently serves as the director general of the Dubai World Trade Centre Authority (DWTCA).
Al Marri’s expansive portfolio encompasses both the leisure and business facets of Dubai’s value proposition. In this capacity, Al Marri plays a key role in orchestrating the planning, supervision, and execution of Dubai’s visionary goals and ambitious targets within the sector. His influence extends to overseeing DWTCA, which houses the foremost event venue in the UAE and the largest event and exhibition centre across the region.
Furthermore, Al Marri’s impact resonates in his board memberships at esteemed institutions, including the Dubai Chamber of Commerce and Industry, ICD, Taaleem PJSC, and Emaar Malls PJSC. A hallmark of Al Marri’s tenure has been his adept steering of numerous impactful global campaigns that have been consistently launched across traditional, digital, and social media platforms and spotlight Dubai’s multifaceted allure to international audiences.
His professional background includes valuable experience gained at reputable consulting firms such as McKinsey and KPMG, further enhancing his expertise in driving strategic growth and innovation within the business landscape.
About DET
DET assumes the central authority for steering, overseeing, fostering, and promoting the growth of Dubai’s economic and tourism sectors. DET plays a pivotal role in marketing and advocating for the emirate’s thriving commerce sector.
Additionally, it bears the responsibility of licensing and categorising all economic and tourism services, encompassing key domains such as hotels, tour operators, and travel agents. DET’s comprehensive mandate spans the planning, supervision, development, and strategic marketing efforts essential to propel Dubai’s economic and tourism landscape forward.
In 2023, Dubai experienced a record-breaking year in tourism, welcoming 17.15 million international overnight visitors, a 19.4 percent increase from 2022. This growth aligns with the objectives of the Dubai Economic Agenda D33, launched by Sheikh Mohammed bin Rashid Al Maktoum to solidify Dubai’s position as a premier global city for both business and leisure. Dubai’s international recognition as a premier destination has been further reinforced by prestigious awards and accolades, including being named the No.1 global destination for the third consecutive year in the esteemed Tripadvisor Travellers’ Choice Awards.
Name: Hisham Alrayes
Designation: Group CEO and Board Member
Company: Gulf Finance House (GFH)
Industry: Finance
Alrayes is spearheading the group towards its vision of emerging as the region’s leading, diversified financial group, offering an exceptional platform for delivering high-quality wealth management, commercial banking, and asset management services. Boasting over two decades of experience, he brings a wealth of expertise and banking acumen to the group, playing a key role in shaping and implementing regional and international investment strategy.
Alrayes assumes the chairmanship and holds directorship positions in financial, industrial, and real estate firms, including Esterad Investment Company, Khaleeji Commercial Bank, GFH Capital, and Infracorp. Through his diverse engagements, he continues to drive innovation, growth, and strategic development across the financial and industrial sectors.
About GFH
GFH stands as a prominent and dynamic financial institution within the GCC region, renowned for its diversified portfolio and a legacy of pioneering achievements. With headquarters situated in Bahrain’s Financial Harbour, the company maintain listings on four distinguished stock exchanges across the GCC, including the Bahrain Bourse, Boursa Kuwait, Dubai Financial Market (DFM), and the Abu Dhabi Securities Exchange (ADX), solidifying their position as one of the most actively traded and liquid stocks in the market.
Having garnered global recognition for the group’s distinguished Islamic investment banking services over the past two decades, GFH Financial Group has demonstrated a strategic and principled approach to identifying and leveraging diverse investment opportunities within some of the world’s most competitive markets. GFH recently seized the opportunity to acquire a substantial majority stake in Big Sky Asset Management, a reputable US-based real estate asset management company. With a strategic focus on the resilient healthcare segment, this acquisition underscores GFH’s dedication to diversification and the pursuit of promising investment avenues.
On 15 April 2024, GFH Financial Group announced its strategic decision to acquire the financing and investment portfolios of Ithmaar Holding, as detailed in a disclosure on the stock exchange. GFH emphasised that negotiations are currently underway to finalise the transaction structure, contingent on regulatory approvals. The forthcoming acquisition is anticipated to have a significant positive impact on GFH’s financial standing and is projected to enhance the group’s overall returns.
In addition to its trading presence on the Dubai Financial Market (DFM), Ithmaar Holding is also listed on the Bahrain Bourse, while GFH maintains cross-listings on the Abu Dhabi Securities Exchange (ADX), Bahrain Bourse, and Boursa Kuwait. During the 12-month period ending on the 31 December 2023, GFH witnessed a 7.69 percent year-on-year (YoY) increase in consolidated net profits, rising to $105.23m from $97.71m.
Name: Huda Kattan
Designation: Founder and CEO
Company: Huda Beauty
Industry: Retail
Renowned beauty industry pioneer Kattan recently announced her return as CEO at Huda Beauty, after a brief sabbatical in 2020 dedicated to enhancing the company’s creative aspects. Besides launching new products, Huda Beauty is embarking on a rebranding journey to streamline its offerings and position itself as the beauty giant envisioned by Kattan. With an estimated net worth of $400m as of 1 June 2023, Kattan is poised to introduce a refreshed brand image later this year, featuring a new logo, packaging, and an exciting line-up of new products scheduled for 2024.
Having revolutionised the realm of beauty influencers on social media since founding Huda Beauty in 2013, Kattan’s transformative impact on the industry is indisputable. Her journey in the beauty sector began with a deep-rooted passion for makeup, leading her to undergo training at a prestigious makeup school in Los Angeles to refine her craft and cater to a discerning clientele.
In 2010, driven by a strong desire to expand her beauty influence beyond traditional boundaries, Kattan launched HudaBeauty.com, an online platform to share her extensive beauty knowledge. The platform quickly gained immense popularity, emerging as a go-to destination for beauty enthusiasts worldwide. This online success marked a watershed moment in her career, culminating in the launch of her signature line of false eyelashes in February 2013 at Sephora in The Dubai Mall.
By 2015, Kattan had established herself as a prominent figure in the digital beauty sphere, propelling the brand to unprecedented growth. The opening of the first Huda Beauty office in partnership with her husband and sister, Mona Kattan, further accelerated the brand’s expansion, with its Lip Contour kits becoming available at Harrods department store in London, UK, by 2016. In her quest for innovation, she co-founded fragrance line Kayali in November 2018, with her sister, Mona, playing a crucial role. The launch of the debut Kayali collection, named Collection 01, featured four distinctive fragrances: VANILLA 28, CITRUS 08, MUSK 12, and ELIXIR 11.
About HB Investments
HB Investments, founded by the creators of Huda Beauty, stands as a formidable entity in brand development. Operating as a private investment firm, the company focuses on nurturing and elevating businesses to transform them into impactful global brands.
The ventures supported by HB Investments are Kitopi, an advanced managed cloud kitchen collaborating with restaurants to extend their delivery services; Uptime, a free app offering five-minute insights from top books, courses, and documentaries; Fresha, an online salon and spa booking platform streamlining small business management; Humantra, a global wellness brand dedicated to enhancing health and performance through supplement support; The Luxury Closet, a premier authenticated luxury consignment platform; Mane Addicts, a hair tools and accessories brand; Florawnow, the region’s pioneering online B2B floral marketplace; and Urbanic, an emerging fashion label from London with a presence in India and Latin America.
Name: Hussain Sajwani
Designation: Founder and Chairman
Company: DAMAC Group
Industry: Real Estate
Sajwani, an esteemed Emirati entrepreneur renowned for his entrepreneurial acumen, has achieved notable success in the competitive landscape of Dubai’s real estate sector. Anticipating the escalating demand for accommodations in the mid-1990s, his forward-looking approach led him to spearhead the rapid development of distinguished hotels, strategically positioning Dubai as a preeminent destination for global business travellers. In 2002, he founded DAMAC Properties, which has since burgeoned into one of the preeminent property development entities in the Middle East.
Beyond his professional endeavours, Sajwani and his family demonstrate a fervent commitment to fostering quality education through the Hussain Sajwani – DAMAC Foundation. Additionally, they actively champion the One Million Arab Coders initiative, aimed at equipping one million Arabs with essential coding skills to thrive in the digital era.
About DAMAC Properties
A well-known name in the market, DAMAC Properties has been at the forefront of the Middle East’s luxury real estate market since 2002, delivering luxury residential, commercial and leisure properties across the region.
With 46,000 homes delivered; 33,000 in planning and progress; more than 100 homes delivered as of 30 June 2023, DAMAC Group is the private business conglomerate owned and managed by the Dubai-based businessman Sajwani. With beginnings in catering and logistics, the organisation has grown exponentially to an impressive and diverse portfolio in various industries including Property Development & Real Estate, Data Centres, Retail & Fashion, Hospitality, Capital Markets and Logistics. Today, DAMAC Group’s global footprint extends across Europe, North America, Asia, Middle East, and North Africa and is continuously seeking expansion opportunities into new markets.
DAMAC Group is spearheading active projects across more than 10 nations, noteworthy among these developments are DAMAC Towers Nine Elms in London, as well as ventures in Toronto and Miami, emblematic of the company’s global footprint. Furthermore, DAMAC manages upscale hotels under esteemed brands such as Radisson, Paramount, Rotana, and DAMAC Maison. Moreover, the company is currently engaged in developing a luxurious resort in the Maldives in collaboration with the esteemed Mandarin Oriental Hotel Group. DAMAC’s reputation for excellence is further augmented by its collaborative ventures with luxury lifestyle brands including Versace Home, Fendi Casa, and Paramount Hotels & Resorts.
In April 2024, DAMAC Properties introduced Natura, a distinctive premium residential development nestled within the verdant environs of DAMAC Hills 2. Natura presents meticulously designed residences, spanning three floors, feature spacious interiors and functional floor plans tailored for comfort. Residents of Natura will enjoy privileged access to an array of exclusive amenities within the DAMAC Hills 2 community, including Malibu Beach, a paintball park, a wave pool, a lazy river, a Zen Garden, a petting zoo, a fishing lake, and outdoor cinemas.
Name: Ibrahim Koshy
Designation: CEO
Company: SAUDIA
Industry: Aviation
Koshy was appointed to his current role at SAUDIA in 2020. Previously, he held the role of vice president of Safety, AVSEC, and Quality at SAUDIA. Additionally, he served as the director general of the Aviation Investigation Bureau of KSA from 2012 to 2016. As an esteemed airline captain and a seasoned veteran boasting over three decades of experience in the aviation industry, Koshy stands at the forefront of SAUDIA’s transformative journey.
His leadership has been instrumental in orchestrating the airlines ongoing initiatives aimed at enhancing operational efficiencies as well as spearheading digital transformation efforts.
With a keen eye on the future, he has been instrumental in charting SAUDIA’s course to align with the ambitious targets set forth in Saudi Vision 2030. Leveraging the airline’s recently launched terminal in Jeddah as its core operational hub, the national carrier is poised to expand its fleet and network, strategically positioning itself for growth and innovation in the ever-evolving aviation landscape.
Koshy’s academic background includes graduating from the Embry-Riddle Aeronautical University (ERAU) in Florida, USA, and Cranfield University in the UK. In addition to his role within the airline, he is actively engaged as a board member on several prominent aviation safety bodies, both regionally and internationally.
Under his leadership, SAUDIA has garnered widespread recognition for its commitment to excellence. Notably, the airline has been honoured with the prestigious Five Star Global Airline accolade and has achieved a diamond rating in the APEX Health Safety category, reaffirming its position as a trailblazer in the global aviation arena.
About SAUDIA
Established in 1945, SAUDIA is the national flag carrier of KSA. In March 2023, SAUDIA ordered 39 fuel-efficient Boeing 787s with options for 10 more airplanes. Backed by rapid expansion efforts, in April 2023, SAUDIA added 56 weekly flights to 14 global destinations. It flies to over 90 destinations and operates a fleet of 144 aircraft.
Very recently, SAUDIA has launched its innovative digital platform, the Travel Companion (TC), powered by advanced artificial intelligence. This strategic move is part of a two-year plan to revolutionise the travel industry by embracing digital innovations. In collaboration with global professional services firm Accenture, SAUDIA’s Travel Companion is set to change how travellers interact with the airline and redefine the standards of digital travel. The Travel Companion offers personalised and tailored solutions to meet individual preferences and needs, providing search results from trusted and authenticated sources and utilises image-supported responses.
The platform is intended to be a comprehensive, one-stop solution that allows users to book concierge services such as hotels, transportation, restaurants, activities, and attractions, eliminating the need to switch between multiple platforms. Additionally, it establishes seamless connections with transportation platforms and various train companies, ensuring a smooth and uninterrupted journey. In the next stages moving forward, SAUDIA will introduce additional features, such as voice command and digital payment solutions, among others.
Name: Isam Al Sager
Designation: Vice Chairman and Group CEO
Company: National Bank of Kuwait (NBK)
Industry: Banking
Al Sager joined NBK in 1978 and assumed his current role as the group CEO in 2014. He is also the chairman of the board of several NBK subsidiaries, including NBK (International), and a board member of Watani Wealth Management.
Prior to his current role, Al Sager was the deputy group CEO since 2010. In 1978, he embarked upon his banking career at NBK, transitioning from a relationship officer in the Corporate Banking Group to rising the ranks in 1987 as the head of Domestic Credit and Marketing. In 1992, he was appointed as the general manager of Retail and Wholesale Banking Group and continued to climb the ranks to reach his current position.
With over three decades of experience at NBK, he has helped lead the bank’s transformation to now include an international presence in 16 countries. Also, the chairman of NBK, Egypt, Al Sager is a board member of multiple NBK subsidiaries and serves on MasterCard’s Board of Directors.
About NBK
Kuwait’s first indigenous bank since its inception in 1952, and as the first shareholding company in the entire Gulf region, NBK has been known as ‘The Bank You Know and Trust’ and is bolstered by the vision to be the trusted bank of choice driven by their people, expertise, and core values. Offering a full spectrum of innovative financial and investment services and solutions to individual, corporate and institutional clients, NBK offers high asset quality, consistent profitability, and strong capitalisation as an advanced banking institution. Spanning many of the world financial and business centres, NBK also boasts Kuwait’s largest overseas branch network.
NBK reported a net profit of $476.8m in the first quarter of 2024, marking a 9.2 percent increase compared to $436.6m for the same period in 2023. As of the end of March 2024, total assets grew by 5.1 percent year-on-year to $124.7bn, while total loans and advances increased by 5.7 percent year-on-year to $72.8bn.
Intellect Global Transaction Banking (iGTB), a specialist in transaction banking under Intellect Design Arena Limited, has secured an extended mandate with NBK, a prominent bank ranked among the top 10 in the GCC region. The objective of this partnership is to achieve a comprehensive digital transformation by modernising existing channels and introducing new digital capabilities in transaction banking.
Through iGTB Digital Transaction Banking, NBK aims to revamp and enrich its online corporate banking platform, offering streamlined, secure, and user-friendly digital solutions. These enhancements are designed to attract and retain corporate customers and SMEs, providing them with an optimised omnichannel and mobile banking experience.
This transformation represents a significant advancement for NBK in terms of scalability and transaction volumes. It serves as a pivotal driver in accelerating NBK’s growth aspirations in Kuwait as well as the wider Middle East region.
Name: Issam Kazim
Designation: CEO
Company: Department of Tourism and Commerce Marketing (DCTCM)
Industry: Tourism
In his current position at Dubai Corporation for Tourism and Commerce Marketing (DCTCM), established in December 2013 as a Dubai Tourism affiliate, Kazim oversees team development, global offices, and directs branding and promotion activities for Dubai. Leading negotiations for global partnerships, he fosters relationships with stakeholders, partners, and investors, contributing to overall city visitation growth. Also, as a key media spokesperson, he represents Dubai Tourism at events and engagements, having previously served as the director of DXB Live and Commercial at Dubai World Trade Centre.
Kazim oversees marketing, branding, and partnerships and as a board member of the Dubai Media Council, he serves as a spokesperson for Dubai Tourism and engages with VIPs and government bodies. Dubai’s revised tourism strategy adopts a dual focus, prioritising the revitalisation of its historic landmarks like Bur Dubai, Al Fahidi, and the Souq areas, while also dedicated to creating new attractions.
About DCTCM
The DCTCM aims to enhance global awareness of Dubai and serves as the primary authority overseeing the planning, development, and supervision of Dubai’s tourism sector. DCTCM is responsible for licensing hotels, tour operators, and other tourism services, including the supervision of archaeological and heritage sites to promote sustainable tourism. Additionally, the department conducts training programmes to ensure the industry’s development with skilled professionals.
DCTCM has been instrumental in promoting Dubai’s economic contribution through tourism since its inception. With a network of international offices, it engages diverse audiences, highlighting the city’s tourism offerings, events, and business opportunities.
Dubai welcomed a record-breaking number of tourists in 2023, with 17.15 million international overnight visitors, marking a 19.4 percent year-on-year growth compared to 2022 and surpassing the previous record set in 2019. This growth is in line with the objectives of the Dubai Economic Agenda D33, aimed at solidifying Dubai’s position as a top global destination for both business and leisure travel.
The city’s achievements were further underscored by its recognition as the number one global destination for an unprecedented third consecutive year in the Tripadvisor Travellers’ Choice Awards 2024, a testament to its world-class infrastructure, exceptional service, and collaborative efforts between the public and private sectors.
Looking ahead, Dubai remains committed to strengthening the tourism sector, enhancing infrastructure, and stimulating broader economic growth. From a regional perspective, Dubai continues to attract visitors from key traditional and emerging markets, solidifying its status as a trusted and favoured destination. The hospitality sector has outperformed pre-pandemic levels across all metrics, with high occupancy rates and milestone achievements in room inventory and occupied room nights.
Name: J.K. Khalil
Designation: EVP and Division President East Arabia
Company: Mastercard
Industry: Technology
In April 2024, Khalil took on the role of executive vice president and division president, East Arabia, marking the next step in his career growth.
This appointment as division president came after Khalil’s successful stint as the senior vice president and cluster general manager for MENA East from 2022 to 2024. Prior to that, Khalil demonstrated his leadership capabilities in the role of senior vice president and general manager for Saudi Arabia, Bahrain and Levant from 2017 to 2022.
Bringing to the table a wealth of experience spanning almost two decades, Khalil has traversed diverse industries, including technology, banking, consulting, and payments. His journey has been characterised by key senior leadership roles across multinational banks, renowned consulting firms, and burgeoning tech startups. Prior to joining Mastercard, Khalil served as a senior manager at Strategy& (formerly Booz & Company), where he held a principal position within the financial services practice, with a focus on wealth management, risk, and digital verticals. His tenure at Booz & Company commenced in 2012, following a series of positions at Barclays Bank, where his contributions ranged from strategy development to cross-asset derivatives sales.
Academically, Khalil has an MBA with distinction from the University of Chicago (Booth) in the US and actively contributes to the academic community as the president of the GCC Alumni Club chapter. Complementing his business education, he holds a degree in Computer Systems & Networks Engineering from St. Joseph University in Beirut, Lebanon, reflecting his diverse skill set and interdisciplinary approach to problem-solving.
About Mastercard
Mastercard has been spearheading payment innovation and driving financial inclusion in the region for over 35 years. The global technology giant helps governments connect more people and businesses to the digital economy. This contributes to boosting economic activity and enhancing citizen welfare, leading to the development of sustainable communities and happier, smarter cities.
In 2023, Mastercard marked a new milestone in government collaboration in the UAE. Building on its experience in Digital Country Partnerships on three continents, the company launched a unique Digital City Partnership with Dubai’s Department of Economy and Tourism. The initiative leverages Mastercard’s extensive payments network, which connects over 100 million merchants globally, to address key priorities of the Dubai Economic Agenda (D33). In the same year, Mastercard opened the Centre for Advanced AI and Cyber Technology in Dubai in partnership with the UAE Artificial Intelligence Office. The project aims to enhance AI capabilities and readiness in the region and usher in a new era of transformative technology.
Mastercard is also collaborating with the private sector to co-create innovative solutions and offer access to its network of partners, expertise, technologies, and markets. In March 2024, the company entered a long-term strategic partnership with First Abu Dhabi Bank (FAB) that aims to redefine the region’s payments landscape by developing unique and disruptive products and services that will revolutionise customer experience.
Name: Jamal Lootah
Designation: Founder and President
Company: Middle East Facilities Management Association (MEFMA)
Industry: Facilities Management
After completing his studies in Business Administration at the University of London, Lootah enrolled in the Corporate Advance Programme at IMD, a global business school in Switzerland. He began his career at the Security Department of Dubai Port Authority and has been associated with Dubai World since 1991. In 2005, he assumed the position of director of Human Resources and General Administration within the organisation.
As an active participant in the Dubai Leaders Programme, an esteemed leadership development initiative launched by Dubai World in partnership with the Wharton Business School at the University of Pennsylvania, Lootah has been deeply involved since its inception in 2007. Serving as CEO of Imdaad, an integrated FM service provider, since 2007, he successfully led the company for 16 years until his departure in October 2023 and remains an advisor to the board of directors and executive management team at Imdaad.
About MEFMA
Founded in 2009, Middle East Facilities Management Association (MEFMA) is a professional membership-based body aimed to unify the facility management industry and help advance the FM sector in the Middle East. MEFMA focuses on developing and promoting facility management best practices and professional standards in the region, through membership packages with unique benefits, educational opportunities via professional training programmes and certifications, reports and research studies on latest industry trends, and extensive regional events being a knowledge sharing platform, thereby adding value to its members and FM industry professionals.
Headquartered in Dubai whilst operating around the GCC and Middle East region, MEFMA was established as a non-profit association and formed under The Dubai Association Centre (DAC), which has been established by the Dubai Chamber of Commerce & Industry, Dubai Business Events (part of Department for Tourism and Commerce Marketing) and the Dubai World Trade Centre. MEFMA is also a registered member of Global Facility Management Association (Global FM).
The MEFMA is hosting the MEFMA Awards of Excellence in Facility Management 2024 to promote best practices and raise awareness in the sector. This event aligns with the region’s substantial projects and facility expansion, attracting investment opportunities. Various entities compete for accolades at this annual event, showcasing achievements and contributions to the region’s economic growth and government’s goals for smart, digital, and sustainable cities, ensuring a promising future.
The MEFMA Awards Ceremony and Gala Dinner will be held on 8 May 2024 in Dubai, featuring a wide array of award categories. This year, MEFMA has introduced six new award categories for both entities and individuals, highlighting collaboration between facility management experts and clients. These include client best practice in government, private, and real estate sectors, FM implementation in megaprojects for entities, and visionary leader and FM Hero categories for individuals.
Name: Khaldoon Al Mubarak
Designation: Managing Director and Group CEO
Company: Mubadala Investment Company
Industry: Investment
In his leadership role at Mubadala, Al Mubarak has been instrumental in guiding the company’s remarkable transformation over the past two decades. Under his leadership, Mubadala has experienced substantial growth through a combination of organic expansion, strategic acquisitions, and mergers, propelling it into a $276bn enterprise with a global presence spanning more than 50 countries and operating from six international offices. Embracing a global perspective and entrepreneurial spirit, Mubadala has emerged as a responsible sovereign investor, committed to generating sustainable financial returns for its shareholder, the government of Abu Dhabi.
A commitment to public service
Beyond his commercial endeavours, Al Mubarak holds various key positions within the UAE and Abu Dhabi governments, underscoring his influence and commitment to public service. Since 2006, he has been a member of the Abu Dhabi Executive Council, providing strategic guidance and oversight on matters of economic and financial importance. As a founding member of Abu Dhabi’s Supreme Council for Financial and Economic Affairs, he contributes to shaping the emirate’s economic policies and priorities. Furthermore, his role as the Presidential Special Envoy to China since 2018 underscores his diplomatic acumen and efforts to strengthen bilateral relations.
Providing guidance to businesses
In addition to his governmental roles, Al Mubarak plays an instrumental role in steering the direction of several significant businesses. He serves on the boards of prominent entities such as the Abu Dhabi National Oil Company (ADNOC), where he contributes to shaping the region’s energy landscape. As the chairman of the boards of the Emirates Nuclear Energy Corporation, Abu Dhabi Commercial Bank, Emirates Global Aluminium, and City Football Group, he provides strategic leadership and oversight, ensuring these organisations operate effectively and achieve their objectives.
Al Mubarak co-chairs important bilateral forums such as the Abu Dhabi-Singapore Joint Forum and the UAE-France Strategic Dialogue, facilitating dialogue and cooperation between nations.
His involvement in such initiatives demonstrates his commitment to fostering international partnerships and driving economic development. Additionally, as a member of the New York University Board of Trustees, he contributes to the advancement of education and academic excellence on a global scale.
About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor that manages a diverse portfolio of assets and investments in the UAE and abroad, to generate sustainable financial returns for its shareholder, the government of Abu Dhabi. Mubadala is investing and partnering at the leading edge of global growth and innovation to create opportunities for future generations.
Today, Mubadala is a $276bn business that spans six continents with interests across multiple sectors and asset classes. Headquartered in Abu Dhabi, Mubadala also has offices in London, Moscow, New York and Beijing.
Mubadala embarked on the renewable energy journey early with the establishment of Masdar in 2006, a key player in global utility-scale renewable projects. Recognising the gravity of climate change as an existential threat, Mubadala is actively working to reduce its carbon footprint and strategically investing in industries that shape the future. Aligned with the forward-looking vision of the UAE government, Mubadala has pledged to achieve net-zero greenhouse gas emissions across its global portfolio and corporate activities by 2050.
In collaboration with governments, businesses, and industry leaders worldwide, Mubadala is deploying capital across sectors with a strong emphasis on clean energy infrastructure and renewable energy. Investments in critical technologies such as energy storage, clean hydrogen, and carbon capture underscore Mubadala’s commitment to advancing the transition to a low-carbon economy and decarbonising challenging sectors.
To underscore their commitment to ESG principles, Mubadala established the Responsible Investing Unit in 2021. This dedicated unit plays a key role in driving the integration of ESG principles and practices throughout the organisation. Mubadala’s comprehensive approach to responsible investing is outlined in its Responsible Investing Policy, a guiding framework that shapes their sustainable investment journey.
Recent key investments
Mubadala Investment Company will be part of a group of entities deploying $132.71m into US private equity investor Warburg Pincus-backed Avanse Financial Services. Other investors include Kotak Pre-IPO Opportunities Fund and Avendus Future Leaders Fund.
Also, Seventy Second Investment Company, a wholly owned unit of Mubadala’s Mamoura Diversified Global Holding, received clearance from India’s fair-trade regulator to buy a stake in Manipal Health Enterprises, one of the country’s biggest healthcare facilities.
Mubadala has recently finalised a definitive agreement to acquire KELIX bio, a specialised pharmaceutical firm dedicated to providing advanced generics in emerging markets. This strategic move aims to bolster the development of the UAE’s life sciences sector, positioning the nation as a global leader in this critical industry while fostering economic diversification.
Established in November 2020, KELIX bio has rapidly expanded its footprint by acquiring manufacturing facilities in key locations such as India, Egypt, Malta, and Morocco. Through this strategic move, Mubadala seeks to propel the UAE’s national life sciences agenda forward, positioning the country as a hub for innovation and excellence in pharmaceutical manufacturing. Mubadala has also made a strategic investment in Avanse Financial Services, a leading non-banking financial company in India.
Name: Jassem Alzaabi
Designation: Chairman
Company: e&
Industry: Technology
With a Master’s Degree in Business Administration from London Business School, Alzaabi boasts decades of diverse experience across multiple sectors. In addition to his current role at e&, he currently occupies several prominent positions in the UAE. He serves as the secretary general of the Supreme Council for Financial and Economic Affairs and is a member of the Abu Dhabi Executive Council. Additionally, he holds chairmanship roles across multiple entities, including the Abu Dhabi Department of Finance, Abu Dhabi Pension Fund, and MODON Properties PJSC. He also serves as the vice chairman of the Central Bank of the UAE and the Abu Dhabi Holding Company (ADQ).
Alzaabi is also a board member of significant organisations such as the Abu Dhabi Investment Authority (ADIA), Abu Dhabi National Oil Company (ADNOC), and First Abu Dhabi Bank (FAB). He is also involved as a board member of Tawazun Council and Q Holding PJSC, along with being a member of the Committee of the Education and Human Resources Council.
About e&
In April 2024, e& has announced the launch of Wider Web for mobile device browsers, coinciding with World Autism Awareness Day. This free-to-use browser extension is designed to cater to the needs of autistic users, providing a customisable, sensory-friendly web-browsing experience.
The launch of Wider Web for mobile follows the introduction of Wider Web for desktop browsing in 2021, developed in collaboration with the Ministry of Community Development (MoCD). This innovative solution aims to enhance accessibility, empowering individuals on the autism spectrum to navigate the internet with ease. Developed in collaboration with local psychologists and extensively tested by users with autism, the extension instantly transforms standard web pages into autistic-friendly ones.
The Wider Web extension blocks distracting pop-ups, disables video auto-play, customises fonts, adjusts colours, and simplifies website interfaces, offering a calmer browsing experience. The newly released mobile extension also includes an AI-powered summariser feature, condensing lengthy articles into clear, concise paragraphs to facilitate easier digestion of information.
Also in April 2024, e& UAE announced its membership in MEF, a global industry association comprising network, cloud, security, and technology providers. This strategic step reinforces the digital telco’s commitment to delivering top-tier network solutions and ensuring seamless connectivity for its customers across the region.
As a member, e& UAE will join MEF’s exclusive ecosystem of over 200 leading technology, cloud, and network providers. It will also introduce MEF 3.0 Carrier Ethernet services and Lifecycle Service Orchestration (LSO) automation API standards aligned with MEF’s Network-as-a-Service (NaaS) Industry Blueprint. Achieving seamless interoperability with partner ecosystems and implementing automation are crucial elements of e& UAE’s strategy for delivering comprehensive digital innovations.
Name: Khaled Al Huraimel
Designation: Group CEO
Company: BEEAH Group
Industry: Sustainability
Raising the bar of sustainable living in the UAE since August 2009, Al Huraimel has steered the group’s transformation from a prominent waste management business in Sharjah to an international holding company with operations in the UAE, KSA, Egypt, and beyond. Establishing Sharjah as a world-class city, his innovative business insights helped mastermind BEEAH’s key plan for environmental sustainability.
Al Huraimel’s strategic focus on sustainability and digitisation has enabled the group’s significant growth. His expertise spans various industries, including waste management, recycling, clean energy, environmental consulting, education, training, and green mobility.
By diversifying BEEAH Group’s businesses, he has adopted a multi-faceted approach to sustainability, aligning with the UAE’s national agenda and global sustainability goals. BEEAH Group has achieved several milestones, including pioneering the zero-waste journey in Sharjah and establishing the region’s first commercial-scale waste-to-energy plant. The group has expanded its presence to key cities in KSA and Egypt, becoming a sustainability partner in these regions.
Driven by a passion for impactful innovation, Al Huraimel has spearheaded the launch of digital ventures such as re.life and EVOTEQ, supporting digital transformation across sectors. He has also been instrumental in establishing joint ventures to drive green mobility initiatives and nurture entrepreneurship through partnerships with organisations like Sheraa.
Prior to his tenure at BEEAH Group, Al Huraimel held leadership positions at prominent organisations such as Emirates National Oil Company (ENOC) and Nakheel, where he demonstrated innovative strategies for international expansion. As a member of various councils and alliances, including the UAE Circular Economy Council and the Alliance to End Plastic Waste, Al Huraimel contributes to shaping national agendas and global initiatives towards sustainability.
About BEEAH Group
BEEAH, a leading advocate for leveraging Artificial Intelligence (AI) to advance sustainability initiatives in the region, is pioneering the development of an innovative AI Executive to revolutionise business decision-making. This initiative reflects BEEAH’s dedication to fostering agility, efficiency, and data-driven operations. The company has announced that its AI Executive is being built on a proprietary Language Learning Model (LLM), designed to distil complex historical data into actionable insights.
The company’s headquarters, an architectural marvel, stands as one of the Middle East’s first fully AI-integrated buildings and holds LEED Platinum certification. Powered by Microsoft’s Azure Cloud and Johnson Controls’ Open Blue platform, the BEEAH headquarters utilises AI and digital twin technology for energy optimisation and predictive maintenance.
Name: Lubna Olayan
Designation: CEO and Deputy Chairperson
Company: Olayan Financing Company (OFC)
Industry: Investment
On January 1, 2023, Olayan was reappointed as the chair of the board of directors at Saudi Awwal Bank (SAB) for another term of three years, making her the first woman to hold such a position in a publicly listed Saudi company. Olayan’s extensive leadership experience spans over 35 years as CEO of Olayan Financing Company (OFC) until she stepped down in April 2019. She assumed the role following the merger of SABB and Alawwal Bank, which propelled the bank to become the third-largest lender in KSA.
Established by her father in 1947, OFC operates across manufacturing, services, investments, and distribution sectors. Additionally, she presides over the Suliman S. Olayan Foundation and the UK-based Alfanar philanthropy organisation, along with holding memberships on key international and local corporate, university boards, and advisory councils.
Under Olayan’s guidance, OFC, in collaboration with King Abdullah University of Science and Technology (KAUST) via the Suliman S. Olayan Foundation, launched the Suliman S. Olayan Institute for Innovation and Entrepreneurship. This institute specialises in sustainability solutions for the water, food, and energy sectors and is named in memory of the late visionary and founder of Olayan Group. Besides her notable position on the World Economic Forum’s Board of Trustees since September 2022, Olayan also chairs the Saudi Swedish Business Council.
About OFC
OFC, headquartered in Riyadh, serves as the cornerstone of The Olayan Group’s operations and investment activities within KSA and the wider Middle East. Since its inception in 1969, OFC has developed a diversified investment strategy, embracing public and private equities, strategic alliances, and real estate ventures. The company boasts a robust portfolio exceeding 32 entities, alongside global investments spanning the Middle East, Turkey, and India, all managed by its Riyadh-based team.
OFC’s investment approach includes significant stakes in key Saudi stock market entities, a mix of private equity ventures, and targeted strategic partnerships across various industries, from construction materials to consumer goods manufacturing. The real estate division is involved in several developmental projects throughout the kingdom while the investment mix encompasses a balanced assortment of listed equities, private investments, real estate, fixed-income securities, and specialised assets.
Moreover, OFC holds a majority stake in Olayan Saudi Holding Company (OSHCO), a prominent Saudi conglomerate with a diversified presence in commercial and industrial operations across six sectors, including food and beverage, restaurants, health and personal care, information, and communications technology, B2B, and energy services, cementing its position as a key player in the region.
LanzaTech Global, a carbon recycling company that converts waste carbon into sustainable raw materials, and OFC have established a joint venture in the KSA to expedite the commercial deployment of LanzaTech’s carbon recycling technology in challenging industries within the kingdom and select areas in the broader Middle East.
Name: Mahdi Amjad
Designation: Founder and Executive Chairman
Company: OMNIYAT
Industry: Real Estate
In 2005, Amjad embarked on a journey to establish a real estate company that would not only revolutionise architectural norms but also redefine traditional standards. From the outset, he recognised Dubai’s potential as a magnet for ultra-high net worth individuals and global citizens. His vision was to create a new paradigm in ultra-luxury living spaces, leveraging design to elevate the human experience across all levels.
Over the past 18 years, Amjad’s commitment to craftsmanship and design has played a key role in shaping Dubai’s ultra-luxury living space sector. It was his foresight in identifying Dubai’s potential as a global hub that truly anchored OMNIYAT’s vision. Guided by his initial vision of transforming Dubai into an ultra-luxury destination, he collaborated with world-renowned architects, designers, and operators.
In 2005, he garnered the trust of the late Dame Zaha Hadid and initiated The OPUS by OMNIYAT project even before completing a showcase project, laying the groundwork for subsequent partnerships with Foster + Partners, Dorchester Collection, Gilles & Boissier, among others.
Under Amjad’s leadership, OMNIYAT has introduced remarkable projects such as One at Palm Jumeirah and AVA at Palm Jumeirah, along with exclusive luxury destinations like the ORLA Collection, encompassing ORLA and ORLA Infinity. He envisioned an urban waterfront-living destination in Marasi Bay Marina, featuring The Lana Hotel and Residences and its sister projects VELA and VELA VIENTO. These developments have not only redefined the concept of living but also positioned Dubai as a cultural and architectural beacon.
About OMNIYAT
Founded in 2005, OMNIYAT has revolutionised Dubai’s luxury real estate landscape, positioning the city as an emerging cultural and architectural hub. Boasting a portfolio valued at $10bn across three destinations and 18 properties, these include The OPUS by OMNIYAT; One at Palm Jumeirah, Dorchester Collection, Dubai; and The Residences, Dorchester Collection, Dubai.
In November 2023, OMNIYAT officially commenced the construction of VELA, Dorchester Collection, Dubai, following the project’s launch in June this year. Positioned adjacent to The Lana, Dorchester Collection, Dubai, within Marasi Bay Marina, VELA will encompass waterfront living, with a projected handover in Q4 2026. Spanning 25,000 sq m across 30 floors, and featuring 38 curated and fully furnished residences, VELA will seamlessly blend signature curves, wraparound terrace pools, and glass façades.
With OMNIYAT’s exclusive partnership with leading hospitality brand, Dorchester Collection, marking the Dorchester Collection’s inaugural hotel endeavour in the Middle East. In April 2024, The Lana, Dorchester Collection officially introduced the ultimate culinary journey curated by acclaimed chefs Jean Imbert, the 12 Michelin-star chef Martin Berasategui, and world pastry champion Angelo Musa, making The Lana destined to become one of the city’s foremost destinations for exceptional dining. Comprising 39 exclusive residential units, The Lana’s design is meticulously crafted through collaboration with multiple design firms over two years and embodies the contemporary design ethos of Foster + Partners and reflects the core values and aspirations of Dorchester Collection.
Name: Maryam Buti Al Suwaidi
Designation: CEO
Company: UAE Securities and Commodities Authority (SCA)
Industry: Government
Dr. Al Suwaidi holds the historic distinction of becoming the first woman to assume her role within the SCA, marking a key moment in the institution’s history as of October 2021. Regarded as one of the few multi-faceted professionals of repute from the region, she boasts over 20 years of experience across a broad spectrum of specialised disciplines ranging from AML/CFT compliance, corporate governance, securities regulation including oversight of cash and derivatives markets, listing, trading and operations, insurance markets regulation, credit bureau oversight and Islamic and conventional jurisprudence.
Notably, she has also earned recognition from the Financial Action Task Force (FATF) for her outstanding accomplishments. She also achieved the feat of becoming the inaugural Emirati woman to be designated as a certified resident expert in evaluating anti-money laundering and terrorism financing regulations by the FATF. This notable achievement followed her successful completion of the International Diploma in Anti-Money Laundering from the International Compliance Association (ICA). She is also credited as being the first Emirati female assessor expert in combating money laundering, Islamic jurisprudence, and terrorism financing.
Her professional journey began as a senior legal researcher at the Dubai Educational Zone. In 2022, she joined the SCA as the director of Legal Affairs and Legal Advisor, a significant step in her career trajectory. Dr Al Suwaidi has previously taken on diverse roles, including serving as the director of the Issuance and Disclosure Department, deputy CEO for Legal Affairs, Issuance and Research Sector, and deputy CEO of the Licensing, Supervision, and Enforcement Sector.
Dr. Al Suwaidi obtained a Bachelor’s Degree in Sharia and Law from the United Arab Emirates University. Subsequently, she went on to earn a master’s degree in Commercial Law from the University of Wales and a PhD in Law from the University of Leeds, UK.
About SCA
On 7 February 2024, the SCA unveiled its new “Playbook for the UAE Fund Management Industry.” This comprehensive guide outlines the roadmap for the fund management sector in the UAE and establishes guidelines for asset managers operating in mainland UAE. Compiled by industry experts and regulatory authorities, the playbook was officially launched by Dr. Al Suwaidi. During the launch event, she highlighted upcoming regulatory changes set to be implemented from 1 April 2024.
The event, organised in collaboration with Standard Chartered, gathered over 200 local and international experts from the Fund Management Industry. The launch of the new playbook marks a significant milestone in shaping the future of the UAE Fund Management industry. It serves as a guiding document, providing direction for industry stakeholders and supporting the sector’s continued growth and its valuable contribution to the nation’s GDP. The playbook covers various topics, including compliance protocols, arbitration and legal framework, financial ecosystem development, financial stability assurance, and regulatory arbitrage elimination.
Name: Michel Ayat
Designation: CEO
Company: AW Rostamani Automotive Group
Industry: Mobility
Michel Ayat’s journey in the automotive industry has been an inspiring one marked by visionary leadership and an unparalleled commitment to excellence, from pioneering automotive strategies to shaping industry standards.
For almost 35 years at AW Rostamani Automotive Group, 17 of which as CEO, Ayat has played an instrumental role in managing some of the world’s most celebrated automotive brands across Nissan, INFINITI, and Renault as part of Arabian Automobiles Company. He also leads AWR Trading Company, the official distributor of world premium brands in allied businesses such as TOTAL Lubricants, AMARON Batteries, CEAT Tires, FORTRON Automotive Treatments, and X-Cool Heat Control Films.
Additionally, he oversees AWR Mobility, which offers innovative and quality mobility options for UAE consumers, with renowned Shift Car Rental standing as the most established entity of AWR Mobility, boasting a fleet of over 11,000 vehicles. Recently, under his guidance, AWR also acquired exclusive distributor rights to Chery, Zeekr, and Smart.
AWR Automotive Group has emerged as a leading automotive and mobility company in the region, with over 50 facilities inclusive of all brands and business units, spanning showrooms, pre-owned showrooms, service centers, and spare parts outlets across the UAE. Ayat’s strategic prowess led him to introduce the ‘Balanced Scorecard’ (BSC) concept that revolutionized strategic planning and performance measurement. This innovative approach led Arabian Automobiles Company to be the first privately owned UAE company honored with the Palladium Balanced Scorecard Hall of Fame Award for Strategy Execution. Ayat’s leadership also propelled the company to prestigious awards such as the Mohammed Bin Rashid Al Maktoum Business Award and the Dubai Quality Gold Award, underscoring its unwavering commitment to excellence.
In 2023, Arabian Automobiles received Nissan’s Global Aftersales award for a record 23rd time since the award’s inception in 1981. Nissan also recognised the company’s exceptional performance with the Outstanding Performance Award (2020) and Nissan Award for Excellence (2021). The INFINITI division earned the Infiniti Quality Excellence Award (2021), while AAC received Renault’s PARIS Challenge Award in 2020. Ayat’s leadership has positioned the company as an industry benchmark for excellence, evident in its ISO accreditation and unwavering commitment to quality management systems.
Michel Ayat is also the Chairman of the Dubai Car Dealers Business Group (DCDBG) since 2019, which was established under the umbrella of the Dubai Chamber of Commerce and aims to unite the voices of automotive distributors and foster public-private sector dialogue on important matters impacting the automotive sector in Dubai.
Beyond the UAE, Ayat’s achievements within the automotive sector are just as exemplary, expanding AWR’s operations into potential emerging markets with the acquisition of a Honda dealership in Delhi and Westway Nissan & Brayleys in the UK, representing leading automotive brands such as Honda, Kia, Mazda, Renault and Dacia, thus cementing his position as a respected thought leader not just in the automotive industry but the wider business community.
Name: Mohamed Alabbar
Designation: Founder and Chairman
Company: Emaar, Noon
Industry: Diversified
Motivated by the desire to contribute to Dubai’s visionary goal of becoming one of the most modern and advanced cities worldwide, Alabbar established Emaar in Dubai in June 1997.
Today, the company stands as a prominent figure in integrated real estate development. He plays a vital role in Dubai’s growth across various industries, including hospitality, ecommerce, technology, and others. With a remarkable portfolio of investments and achievements locally and globally, he is recognised as a driving force behind key accomplishments such as the Burj Khalifa and Dubai Mall, developed by his company Emaar Properties.
Alabbar is a graduate in Finance and Business Administration from Seattle University, USA. He also holds several honorary doctorates, including from Seattle University, the London School of Economics and Political Science, and Sun Moon University in South Korea.
On an upward trajectory
Emaar Properties is a major real estate company in the Middle East, known for developing Dubai Downtown which is home to iconic landmarks like the Burj Khalifa and Dubai Mall. With operations in Egypt, India, Pakistan, Turkey, and KSA, Emaar made a significant move in August 2022 by fully acquiring Dubai Creek Harbour from Dubai Holding for $2bn. This acquisition, involving a combination of cash and Emaar Properties shares, resulted in Dubai Holding becoming the second-largest shareholder in Emaar, holding a 7.5 percent stake.
Emaar Properties recorded a total revenue of $3.9bn from its property development business in the UAE, including Dubai Creek Harbour. The revenue backlog from property sales in the UAE grew to $16.9bn as of 31 December 2023, reflecting a year-on-year growth of around 50 percent.
Emaar Development maintained its strong property sales performance in 2023. The company launched 27 new projects across all master plans in the UAE, resulting in property sales of $10.2bn, marking a growth of over 21percent compared to 2022.
In 2023, Emaar Development reported revenue of $3.2bn) and achieved EBITDA of $2.2bn, representing an 89 percent increase compared to 2022.
Emaar Hospitality
A testament to his unwavering determination, Alabbar’s journey also unfolds in the hospitality sphere through Emaar Hospitality Group. With the aim of establishing homegrown brands that compete with international counterparts, the group stands as a testament to his commitment. It boasts key hospitality assets including Address Hotels + Resorts, Armani Hotels and Resorts, Vida Hotels and Resorts, along with serviced residences, leisure clubs, and a variety of restaurants and spas.
Alabbar also serves as the chairman of Americana Restaurants, the largest restaurant operator in the MENA region and Kazakhstan. Operating global brands such as KFC, Pizza Hut, Hardee’s, Krispy Kreme, TGI Fridays, and Peet’s Coffee, along with proprietary brands like Wimpy and Chicken Tikka, Americana Restaurants has been a staple in the region for over 50 years.
Alabbar’s passion for real estate ventures extends to other distinguished enterprises, namely Eagle Hills and Nshama. Since its inception in 2014, Nshama has been crafting master-planned neighbourhoods that embody technological advancement, sustainability, and profound community living. Beyond his pioneering role in real estate, his ventures encompass retail businesses across over 20 global markets, including F&B, ecommerce, venture capital, logistics, hospitality, and technology. His transformative vision also extends to ecommerce firm Noon, collaborating with government entities to provide a platform for startups in Abu Dhabi and Ajman. Additionally, he established Noon Food, fostering a sustainable ecosystem for businesses and consumers.
Emaar’s approach to sustainability
Emaar is strategically driving change across different levels, guided by their dedication to the UAE’s Net Zero by 2050 initiative and sustainability goals. Through various ongoing initiatives, they are focusing on water conservation, emissions reduction, clean energy adoption, process optimisation, resource management, waste management, and responsible material usage in their developmental projects and inhabited communities.
About Eagle Hills
Founded by Alabbar, Eagle Hills aims to develop and rejuvenate cities and communities, offering innovative lifestyle solutions tailored to modern living needs. As an Abu Dhabi-based private real estate investment and development company, Eagle Hills leverages its financial strength, expertise, and extensive relationships to drive the creation of large-scale, master-planned communities.
These communities blend facilities that enhance local economies, support holistic living and working solutions, and cater to both tourists and residents. Eagle Hills undertakes projects both within the UAE and globally. UAE-based projects include Maryam Island and Fujairah Beach in Sharjah, Address Residences Fujairah, and the Kalba Waterfront.
Emaar’s recent projects
In June 2023, Emaar revealed a new luxury waterfront property development called The Oasis by Emaar, with a total investment of $20bn. This project will feature 7,000 residential units, including mansions and villas.
A significant portion of the land, approximately one-quarter, will be dedicated to enhancing the natural surroundings. This includes the creation of lakes, water canals, expansive parks, jogging tracks, and lush green spaces.
Name: Mohamed Al Hammadi
Designation: Managing Director and CEO
Company: Emirates Nuclear Energy Corporation (ENEC)
Industry: Energy
Al Hammadi has spearheaded ENEC in successfully implementing the UAE Peaceful Nuclear Energy Programme, with a focus on adhering to the highest national regulations and international standards of safety, security, quality, transparency, and non-proliferation.
His leadership responsibilities span multiple areas including guiding the organisation towards the shared objective of driving the future growth of the UAE through the safe and efficient deployment of the Barakah Nuclear Energy Plant.
As the UAE and Arab World’s inaugural nuclear energy plant, the Barakah plant commenced operations and was connected to the UAE grid in 2020, officially starting commercial operations in April 2021. This landmark achievement marked the UAE as the 31st nation globally to utilise nuclear energy for electricity generation, with the Barakah Plant becoming the first multi-unit operational nuclear facility in the region upon the launch of Unit 2.
Al Hammadi heads ENEC and supervises its joint venture subsidiaries, Nawah Energy Company, responsible for the operation and maintenance of the Barakah plant, and Barakah One Company, which handles the financial and commercial aspects of the project. With a robust background in power and utility projects encompassing management, construction, finance, and administration, he previously served as the general manager of the UAE Federal Electricity and Water Authority (FEWA).
He holds membership in the World Association of Nuclear Operators’ (WANO) Governing Board of its Atlanta Centre and sits on the board of directors of ENMEC. He is also affiliated with the American Nuclear Society and the Project Management Institute (USA), in addition to being a senior member of the Institute of Electrical and Electronics Engineers (USA), the International Council on Large Electric Systems, and the Engineers Association of the UAE. Acknowledged for his expertise, in recognition of his visionary contributions to the future of electricity, Ajou University in South Korea conferred upon Al Hammadi an Honorary Doctorate in 2019, making him one of only eight leaders to receive such a prestigious accolade in the university’s history.
About ENEC
Established in December 2009 by decree from the late Sheikh Khalifa bin Zayed Al Nahyan, then president of the UAE, ENEC provides safe, clean, reliable, as well as efficient nuclear energy to the nation. Since its establishment, ENEC has undertaken the key responsibility of implementing the UAE Peaceful Nuclear Energy Programme. This involves designing, constructing, and owning the UAE’s inaugural nuclear energy plant. ENEC collaborates closely with both the Abu Dhabi and Federal governments to ensure alignment with the UAE’s industrial infrastructure plans.
ENEC also actively engages with the UAE community to foster awareness and comprehension of nuclear energy’s significance in the nation’s energy portfolio. Furthermore, ENEC operates as the investment arm of the government of Abu Dhabi, strategically investing in both domestic and international nuclear sectors.
Name: Mohamed Al Ramahi
Designation: CEO
Company: Masdar
Industry: Sustainability
Mohamed Jameel Al Ramahi is the Chief Executive Officer of Masdar, the UAE’s clean energy champion and one of the fastest growing companies in the world.
Under his leadership, Masdar has developed into one of world’s leading clean energy companies, with a combined global project portfolio of over 20GW of clean energy capacity, and ambitions to grow to 100GW and 1 million tons of annual green hydrogen production by 2030.
Al Ramahi first joined Masdar in 2008 and has held senior leadership positions in the company for nearly a decade and a half, serving as Chief Financial Officer and Chief Operating Officer prior to his appointment as CEO in 2016. With a career spanning more than three decades in the energy sector, he brings significant experience in strategic leadership, internal audit, risk management, and financial acumen to the company.
In addition to his role as CEO, Al Ramahi holds a number of prominent board positions. He is Chairman of the Masdar Executive Committee, Vice-Chair of the Global Council on Sustainable Development Goals and serves on the Board of Directors for Emirates Waste to Energy Company; Samruk-Kazyna, Kazakhstan’s Sovereign Wealth Fund; and Shuaa Energy 2 PSC and Shuaa Energy 4 PSC, the companies developing phase three and six of the Mohammed Bin Rashid Al Maktoum Solar Park in Dubai, respectively.
A natural collaborator, Al Ramahi is an active member of several groups dedicated to facilitating strong international cooperation in the fields of business and sustainability. These include CCI France, Australian Business Group, the US-UAE Business Council, and the Sustainable Markets Initiative Taskforce for Energy Transition where he leads the decarbonizing industry workstream.
Al Ramahi was awarded the Order of National Merit from Emmanuel Macron, President of the Republic of France, as well as the Order of Friendship from Shavkat Mirziyoyev, President of the Republic of Uzbekistan, for his commitment to strengthening the UAE’s bilateral relationship with both countries.
He holds Honorary Fellowship in the Energy Institute and has been named CEO of the Year 2023 and Trailblazer of the Year 2022 by S&P Global Platts. He was also named International Energy Diplomacy Person of the Year 2020 by Gulf Intelligence, among various other international accolades.
About Masdar
As a leader in renewable energy and green hydrogen, Masdar, a collaborative effort between Mubadala, ADNOC, and TAQA, has extended its impact to over 40 countries, with a dedicated commitment exceeding $30bn in worldwide projects. By harnessing electricity from zero and low-carbon sources like solar and wind, Masdar’s initiatives annually offset 30 million tonnes of CO2.
The company is at the forefront of the decarbonisation movement, targeting challenging sectors such as heavy industry and shipping, with a vision to produce 1 million tonnes of green hydrogen annually by 2030.
Masdar has been a pioneer in exploring hydrogen production since 2008. The green hydrogen business operated by Masdar aims to establish itself as a global leader by adopting a ‘smart early-mover’ approach. Remaining technology-agnostic, they focus on incorporating the best technologies to build a robust hydrogen value chain.
In partnership with Emirates Steel Arkan, Masdar is pioneering a revolutionary green hydrogen project set to decarbonise the UAE’s steel sector. The project, slated to produce ‘green steel’ by 2024, signifies a sustainable era for the industry. The company is determined to further reduce carbon emissions by 40 percent by 2030 and achieve net-zero emissions by the year 2050.
This aligns seamlessly with the UAE’s ambitious objective of becoming a major hydrogen producer by 2031, emphasising Masdar’s dedication to environmental responsibility and cleaner industrial practices.
Name: Mohamed Juma Al Shamisi
Designation: Managing Director and CEO
Company: AD Ports
Industry: Logistics
In his current role, Al Shamisi is a leading facilitator of logistics, industry, and trade in the region, bridging Abu Dhabi with global markets. In his capacity, he oversees the development of AD Ports Group’s assets and activities, driving their strategy and operations forward.
Under his stewardship, AD Ports Group has transitioned from a project-centric organisation to a fully operational, integrated enterprise spanning five clusters: Digital, economic cities and free zone, logistics, maritime, and ports, facilitating global maritime routes and international trade partnerships.
Renowned for his entrepreneurial leadership, Al Shamisi champions AD Ports Group’s role in advancing the government’s goal of diversifying the non-oil and gas economy. With nearly two decades of experience in the maritime sector, he joined AD Ports Group in 2008 and has held key leadership roles, including executive vice president of the Ports Unit, where he played a crucial role in restructuring and optimising its assets.
He also oversaw the successful completion and inauguration of Khalifa Port, AD Ports Group’s flagship port, along with the adjacent KIZAD. Under his guidance, AD Ports Group has garnered over 40 esteemed local and international awards, including the prestigious Abu Dhabi Award for Excellence in Government Performance 2017, which honoured the company with the Main Award across five categories.
Beyond his role at AD Ports Group, Al Shamisi serves as the chairman of Aramex and Abu Dhabi National Exhibitions Company (ADNEC), vice chairman of UAE Sailing & Rowing Federation, and board member of MAKE A WISH Foundation UAE. He currently chairs the KIZAD board of directors and the Arab Sea Port Federation, having previously served as a board member of Etihad Airways.
About AD Ports
AD Ports Group, a global trade and maritime hub, integrates world-class ports, economic zones, maritime, logistics, and digital businesses to drive international trade. Their competitive environment, supported by top-tier trade, logistics, technology, and infrastructure, ensures efficiency for partners and customers. With a clear growth roadmap for AD Ports Group and the broader trade and maritime sectors, their stable and sustainable model encourages inward investment, fostering a globally competitive trading environment.
On 21 April 2024, the group announced the expansion of its ports cluster into global marine lubricant distribution through a strategic agreement with ADNOC Distribution. Leveraging their connections and advanced infrastructure, the group will initially distribute high-demand lubricants in the UAE, expanding globally thereafter. This joint effort underscores the importance of the marine lubricants market for the shipping and maritime industries.
AD Ports Group secured a 20-year concession agreement in April 2024 to operate the Luanda multipurpose port terminal in Angola. Partnering with Unicargas and Multiparques, the group will invest $251m to modernise the terminal, boosting container handling volumes to 350,000 TEUs and Ro-Ro volumes to over 40,000 vehicles, with completion expected by Q3 2026.
Name: Mohammad A. Baker
Designation: Deputy Chairman and CEO
Company: GMG
Industry: Diversified
With a 46-year legacy, Baker is a visionary on a mission to redefine success within the global business community. Under his leadership, GMG has embarked on an exciting new chapter, driven by an unwavering commitment to excellence and positive impact. GMG’s portfolio spans across five key verticals, each showcasing its relentless pursuit of innovation and excellence: GMG Sports, GMG Everyday Goods, GMG Health and Beauty, GMG Properties, and GMG Logistics.
Baker strongly believes in empowering the UAE’s youth and has launched several initiatives to support their growth. He played an instrumental role in promoting healthier lifestyles across schools in the UAE by collaborating closely with the government and integrating sports and active living into the curriculum.
Baker’s creative brilliance has given rise to influential home-grown brands, including Sun & Sand Sports, Basketbolista, Nu Athlete, and Dropkick. In July 2023, GMG signed a transformative franchise agreement with the renowned UK-based global sports retailer JD Sports, bringing its expertise to the Middle East. GMG partners with the world’s key sports brands, including Nike, Vans, and Columbia. Additionally, GMG successfully launched nike.ae and nike.sa for regional customers.
About GMG
Baker has orchestrated a comprehensive presence across the entire food consumption chain, aligning with GMG’s visionary ‘farm-to-fork’ approach and commitment to the UAE’s National Food Security Strategy 2051. GMG has established state-of-the-art food manufacturing facilities, an expansive food retail network, and distribution of highly sought-after international brands. These facilities are enhanced by a cutting-edge R&D kitchen and food laboratory, covering six diverse product lines: meat, seafood, Himalayan pink salt, herbs and spices, sausages and cold cuts, butchery, and marination.
GMG ventured into the food retail industry in April 2022 by acquiring the Middle Eastern operations of Groupe Casino’s prestigious brands, including Géant, Franprix, Monoprix, and Monop. GMG’s commitment to excellence continued with the acquisition of aswaaq LLC, consolidating its position as one of the UAE’s largest community mall operators.
The group has also expanded its health portfolio within the UAE, introducing innovative concept stores such as Supercare, Arabella, Glu, and Good Health. Moreover, GMG’s global footprint is rapidly expanding, with Baker envisioning the opening of 100 stores in Southeast Asia by 2025.
On 3 April 2024, GMG announced plans to expand the store network of VF Corporation’s brands, such as Vans®, The North Face®, and Timberland®, across the MENA region and Southeast Asia (SEA). Building on a partnership of over 12 years, GMG will increase the presence of VF’s brands through new mono-brand partner stores in MENA and SEA markets over the next five years. Currently, GMG operates 90 mono-brand stores for VF in MENA and SEA, with plans to roll out over 300 stores in the next five years.
Name: Mohammad Ali Rashed Lootah
Designation: President and CEO
Company: Dubai Chambers
Industry: Industry
Lootah was appointed to his current role in Dubai Chambers in October 2022. The decision aligned with the Chambers’ commitment to fulfilling the leadership’s vision to advance Dubai’s global economic status, and its dedication to enlisting competent and experienced leaders to maintain the emirate’s momentum towards further accomplishments. In this capacity, he supervises the implementation of strategic initiatives aimed at enhancing the ease of doing business in Dubai, supporting global business expansion, attracting foreign investment, and advancing the digital economy.
Previously, Lootah held the position of CEO at the Commercial Compliance & Consumer Protection for Dubai’s Department of Economy and Tourism. In this role, he oversaw consumer protection, business protection, intellectual property protection, and commercial compliance. He has also held various leadership roles at the Department of Economic Development, including deputy CEO of the Commercial Compliance & Consumer Protection Sector, deputy CEO of the Dubai Export Development Corporation, executive director of Corporate Quality and Excellence, and deputy director of the Information Technology Department at Dubai Land Department. Lootah earned a Bachelor’s Degree in Computer Systems Engineering from Arizona State University in the US and an executive MBA in Strategic Management from the Higher Colleges of Technology in Dubai.
About Dubai Chambers
Dubai Chambers is a non-profit public entity dedicated to advancing Dubai’s global standing by empowering businesses, offering innovative value-added services, and facilitating access to influential networks. In March 2021, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the reorganisation of Dubai Chamber. This restructuring resulted in the formation of three chambers for the emirate: the Dubai Chamber of Commerce, the Dubai International Chamber, and the Dubai Chamber of Digital Economy. These entities now operate collectively under the umbrella of Dubai Chambers.
On 24 April 2024, Dubai Chambers received recognition from the International Chamber of Commerce (ICC) for its pioneering efforts in developing the Chamber Model Innovation (CMI) framework. This framework, introduced at the World Chambers Conference in Dubai in 2021, aims to accelerate innovation within chambers worldwide.
The CMI framework, devised and launched by Dubai Chambers, offers a systematic approach to enhancing the effectiveness of the Chambers of Commerce in response to evolving business landscapes and global challenges. Since its inception, Dubai Chambers has conducted 17 training courses on the CMI framework, benefiting over 1,500 employees and officials from 638 chambers worldwide.
The ICC World Chambers Federation has embraced the CMI framework as a model for chamber services and employee training, facilitating their transition into data-driven institutions.
Name: Mohammed Alshaya
Designation: Executive Chairman
Company: Alshaya Group
Industry: Retail
The driving force behind the success of Alshaya, a prominent Kuwaiti family-owned business, Alshaya has steered the company’s rapid expansion as CEO since 1990, later assuming the role of executive chairman in 2007. Under his leadership, Alshaya has evolved into one of the largest international franchise operators across the Middle East, Africa, Europe, and Russia, boasting over 70 renowned brands.
Alshaya is actively engaged in various influential capacities. He serves as a member of the board of trustees at the Arab Thought Foundation and chairs the board of directors of Mabanee, one of Kuwait’s leading real estate developers, where the Alshaya family holds a significant ownership stake of 34.1 percent.
Additionally, he holds positions on several councils, including the Supreme Council of Education for the State of Kuwait, the International Business Advisory Council for London, and the Supreme Council of Planning and Development. Alshaya’s contributions extend beyond business and into education, international business relations, and long-term planning for Kuwait’s development.
As a member of the Supreme Council of Education, he contributes to shaping the educational landscape of Kuwait. His involvement in the International Business Advisory Council for London underscores his commitment to fostering strong international business ties. Furthermore, his role in the Supreme Council of Planning and Development highlights his dedication to ensuring the sustainable growth and long-term vision for Kuwait. Through these roles, Alshaya actively contributes his insights, expertise, and strategic thinking to various crucial domains shaping Kuwait’s development.
About Alshaya Group
Operating across Europe, the MENA region, and Turkey, Alshaya Group has a diverse portfolio spanning health and beauty, pharmacy, food, fashion, home furnishings, and leisure & entertainment. Its extensive brand line-up includes Boots, The Body Shop, H&M, Starbucks, Mothercare, M.A.C, Debenhams, American Eagle Outfitters, P.F. Chang’s, The Cheesecake Factory, Victoria’s Secret, Pottery Barn, and KidZania, among others.
On 24 July 2023, Alshaya Group launched the ‘Make Your Moment’ initiative in collaboration with the Human Resources Development Fund (HRDF) in KSA. This initiative aims to attract and retain skilled Saudi men and women in the retail sector, aligning with the goals of Saudi Vision 2030. By investing in Saudi youth, the initiative supports the national plan’s objective of empowering citizens with the skills needed to succeed in the private sector. To date, approximately 4,000 Saudi women have joined Alshaya Group’s workforce across its diverse brands.
Alshaya Group’s commitment to its communities is paramount and as a leading employer in the retail sector, recognise the various avenues through which they can contribute sustainably. This includes creating jobs and fostering skills development, sourcing locally, providing charitable support, and collaborating with government and local NGOs. Additionally, they are dedicated to environmental stewardship, implementing initiatives such as harnessing solar energy, recycling fashion and electronics, and minimising packaging. Across their brands and operations, Alshaya Group are working to enact positive change and continuously strive to make meaningful impact.
Name: Mohammed Bin Abdulaziz Alajlan
Designation: Deputy Chairman
Company: Ajlan & Bros
Industry: Diversified
Established in 1979, Ajlan & Bros Group has expanded to become one of the largest private sector conglomerates in the Middle East region, employing over 15,000 people in more than 25 countries and spanning across 75 companies. With a diversified portfolio in line with Vision 2030, Ajlan & Bros Holding Group has embarked on significant diversification both regionally and globally as reflected in the company’s investments in real estate in Saudi Arabia, Europe, Asia, the US, as well as in China. One of the largest real estate owners in Saudi Arabia, Ajan & Bros has launched several commercial, housing, and industrial projects throughout different cities of the Kingdom.
Regional leader
Today, the group boasts assets valued at over $15bn in addition to annual revenues of more than $2bn. In recent years the group has diversified into sectors which are aligned to and in support of Vision 2030. This includes water, power, environment, oil and gas, food security, facility management, tourism, logistics, industrial manufacturing, real estate, textiles, technology, mining and minerals, as well as FMCG, events and entertainment, gaming, financial services in addition to fintech.
In addition to his role as Deputy Chairman of Ajlan & Bros Group, Alajlan also holds several positions and memberships including Deputy Chairman of Ajlan & Bros, Chairman of the Saudi-Chinese Business Council, and Deputy Chairman of more than 75 companies around the world. He is also a former board member of the Young Arab Leaders Organisation.
Alajlan was also awarded various awards and honours by the Chinese government, some of which include the Holder of the Honorary Citizen Award and City Key Holder Merit for Xuzhou City, awarded by People’s Government of Xuzhou District, in the People’s Republic of China, for his contribution towards both economic and social development.
He is also a recipient of the Honorary Citizen Award for Zaozhuang Citv, Shandong District, awarded by the People’s Government of Shandong District.
He was awarded the Honorary Work Merit and Medal and a certificate from Siang City Government, Jiangsu Province, for his highly distinguished contributions to economic structure and commercial projects development.
Alajlan is also the Friendship Ambassador for Shandong Province, an award given to business leaders who have immensely contributed to investment and economic and social development of the province.
Name: Mohammed Ibrahim Al Shaibani
Designation: Managing Director
Company: Investment Corporation of Dubai (ICD)
Industry: Investment
Al Shaibani holds several significant positions in Dubai’s government and corporate sectors. He serves as the director general of The Dubai Ruler’s Court and the managing director of the Investment Corporation of Dubai, which is the primary investment entity of the Dubai government. Additionally, he is the vice chairman of Dubai’s Supreme Fiscal Committee, overseeing fiscal policies, as well as is a member of Dubai’s Executive Council, which supports and supervises government bodies in Dubai.
Al Shaibani was the deputy chairman of the Higher Committee of World Expo 2020 and the chairman of the Supreme Committee for the Supervision of International Humanitarian City (IHC), a global hub for humanitarian emergency preparedness and response.
In the corporate realm, he holds key leadership positions including as the chairman of the board of directors of Kerzner International as well as Nakheel, Dubai’s renowned property developer behind the Palm Jumeirah. He also chairs the board of directors at Dubai Islamic Bank and Meydan City Corporation. Moreover, he contributes his expertise as a board member of various government-related organisations such as Dubai World and Dubai Aerospace Enterprise (DAE).
About Investment Corporation of Dubai (ICD)
Established in 2006, the ICD serves as the principal investment arm of the government of Dubai. With a mandate to manage a diverse portfolio of assets, both domestically and internationally, ICD plays a crucial role in supporting Dubai’s vibrant economy across various sectors.
ICD’s responsibilities encompass consolidating and overseeing the government’s commercial companies and investments. By developing and implementing robust investment strategies and corporate governance policies, ICD aims to optimise value creation for the long-term prosperity of Dubai. Additionally, ICD is tasked with providing strategic oversight to its portfolio companies by implementing effective corporate governance policies and investment strategies.
ICD’s portfolio encompasses several prominent companies in Dubai, spanning crucial economic sectors identified by the government as strategic for the ongoing development and prosperity of the emirate. These sectors include financial services, transportation, energy and industry, real estate and construction, hospitality and leisure, retail, and other key holdings. Moreover, ICD has pursued a sustainable strategy of global investments, aligning with its existing portfolio, to expand Dubai’s global presence and expertise into international markets.
In January 2024, The ICD unveiled a rebrand of its visual identity, including a brand-new logo. Moving forward, the corporation will be referred to by its acronym ICD, with its visual identity reflecting its dynamic nature and enduring commitment to growth, development, and excellence. This change underscores ICD’s readiness to adapt to the ever-changing global investment landscape.
Name: Mohammed Qasem Al Ali
Designation: Group CEO
Company: National Bonds
Industry: Finance
Al Ali steers the company’s expanding portfolio of enterprises while managing the new and innovative savings initiatives. With over 20 years of local and international experience, he has a diverse background with experience in senior management roles in the commercial divisions within the Emirates Group as well as has served as the general manager in the UK and Ireland. He has also held the role of vice president of Customer Service and Operations at dnata at Dubai International Airport.
About National Bonds
Established in March 2006 with a paid-up capital of $41m (AED150m), National Bonds is a private joint stock company fully owned by the Investment Corporation of Dubai (ICD), the investment arm of the Dubai government. The company is licensed and regulated by the Securities and Commodities Authority and undergoes auditing by the Dubai Government Financial Audit Authority, Sharia Supervisory Board, as well as reputable international external auditors.
National Bonds offers direct wealth accumulation through an all-in-one Sharia-compliant Mudaraba based saving scheme, the first of its kind in the world. Steered by their core belief in the power of savings to enable a stronger economy, National Bonds is helping its customers achieve their own financial future objectives and is committed to keep shaping a brighter financial future for today’s and tomorrow’s generations. The company caters to a diverse clientele, including retail customers, high-net-worth individuals, and corporations.
The UAE fund manager National Bonds is in the final stages of developing a new pension fund specifically designed for employers. This initiative comes as the UAE approaches the establishment of a new framework for the utilisation of funds collected for end-of-service payments. National Bonds’ pension fund will target UAE-based employers, encouraging them to invest funds designated for their end-of-service or gratuity schemes.
On March 4, 2024, Knowledge Fund Partnership announced the launch of The Young Investor, the Middle East’s inaugural financial education programme developed in collaboration with National Bonds. This innovative initiative is in alignment with the Dubai Economic Agenda (D33) and Dubai Social Agenda 33, introduced by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
These agendas aim to position Dubai as a leading educational hub, enriching educational systems to meet future aspirations, and bolster human capital through top-tier education.
Phase one of The Young Investor will be integrated into the educational programmes of three branches of Dubai schools, introducing a comprehensive financial literacy programme. Knowledge Fund Establishment, in collaboration with National Bonds, will be responsible for programme development, design, and execution.
The programme will target students in grades 5 and 6, marking a pioneering effort to enhance financial knowledge from an early age, with the initiative aligning with broader national financial literacy plans.
Name: Mohammed Sankari
Designation: Chairman
Company: Sankari Properties
Industry: Real Estate
Sankari, an accomplished business leader, has navigated a robust entrepreneurial path within a prospering family enterprise. His attention to detail have established him as a key contributor to the business landscape of the UAE.
Originating from a family business with a strong foothold in high-end retail and lifestyle, Sankari brings a depth of market understanding and business expertise to Sankari Properties. His leadership is crucial for guiding the company in creating esteemed real estate projects that future generations will value and appreciate. His role in the family business has been significant in building a considerable real estate portfolio, demonstrating a legacy of growth and strategic foresight.
As an Emirati entrepreneur, Sankari is driven by a deep ambition to contribute substantially to his nation. He envisions creating architectural landmarks that embody the UAE’s rich history and promising future. Influenced by the leadership of the UAE and his family history, he dedicates himself to developing impactful experiences.
Guided by his leadership, Sankari Properties is committed to developing real estate projects that exceed the anticipations of the UAE’s discerning client base. By effectively merging their longstanding principles with the dynamic landscape of the UAE’s real estate sector, Sankari Properties not only seeks to uphold the esteemed reputation established by the family over the years but also aims to adapt and respond to the contemporary needs and trends of the market.
About Sankari Properties
Sankari Properties, a new enterprise, was established in 2023, coinciding with the 40th anniversary of Paris Group. Paris Group is the principal division of the Sankari Investment Group, a UAE-based conglomerate initiated in 1983 by Abdulkader Sankari, the father of Mohammed Sankari. Specialising in luxury fashion and retail, UAE based conglomerate Paris Group operates over 300 stores worldwide. As a growing contributor to the UAE’s dynamic development, Sankari Properties presents a collection of luxury real estate steeped in a rich family legacy that intertwines a story of tradition and excellence.
The team at Sankari Properties comprises a collaboration of forward-thinking architects who challenge architectural boundaries, innovative designers who forge deep connections with space and style. Currently focused on their inaugural flagship project in Marasi Marina, Business Bay, slated for completion in 2027, the twin residential towers will be masterfully crafted by Foster & Partners with exquisite interior design by Portia Fox.
Housed within the twin towers is a limited collection of just 57 exquisite full-floor residences, each ranging from three to five bedrooms in its sophisticated design. These start at 604 sq m, each occupying an entire floor to ensure maximum privacy and security. This $1bn development rising from the heart of Dubai’s vibrant Marasi district in Business Bay promises to redefine the elevated living experience, with starting prices of $10m. Slated for completion in the fourth quarter of 2027, the introduction of Sankari Properties is aligned with the nation’s strategy for economic diversification and growth.
Name: Nadhmi Al Nasr
Designation: CEO
Company: NEOM
Industry: Real Estate
During his tenure at Saudi Aramco, Al Nasr demonstrated exceptional skill and dedication, gradually advancing through the ranks, and taking on increasingly key roles within the organisation. His robust experience in steering major projects and leading teams to success solidified his reputation as a proficient and strategic leader in the engineering field.
Noteworthy among his accomplishments is his role in overseeing the successful execution of significant projects that played a crucial role in shaping the energy landscape of the kingdom.
As the interim president of the prestigious King Abdullah University of Science and Technology, Al Nasr showcased his ability to navigate complex academic environments, fostering innovation and excellence within the institution. His stint at KAUST further enriched his leadership acumen and honed his visionary approach towards driving progress and growth.
Taking on the leadership of NEOM in July 2018 marked a significant milestone in Al Nasr’s illustrious career. His appointment to spearhead the visionary NEOM project, a pioneering initiative that aims to reshape and redefine the future of sustainable development on a global scale, highlights his strategic vision, foresight, and capacity to drive large-scale transformative projects.
Al Nasr’s journey, from his humble beginnings post-graduation from King Fahd University of Petroleum & Minerals to becoming a respected figure in the fields of engineering and leadership, is a testament to his unwavering commitment to excellence, innovation, and creating a lasting impact in every role he undertakes. His wealth of experience and expertise continue to position him as a trailblazer in the industry, driving change in engineering and development.
Key projects
At Saudi Aramco, he spearheaded prestigious projects, starting with the monumental master gas system and followed by assignments on the refinery programme, Southwest Refinery, and Ras Tanura Refinery. Al Nasr’s managerial prowess was evident in overseeing the Ghawar oil field capital programmes, including the successful completion of the Ghawar oil field crude expansion programme in 1993.
His exceptional performance led to his promotion as manager of oil and gas pipeline projects at Saudi Aramco. Noteworthy among his accomplishments was his leadership on the Shaybah Development Programme, completed a year ahead of schedule and below budget by 1998. This project, the Shaybah mega-project, stands as a testament to Al Nasr’s leadership and proficiency, is recognised as one of Saudi Aramco’s prime achievements.
In a significant turn of events in July 2018, Al Nasr was appointed by Prince Mohammed bin Salman bin Abdulaziz, NEOM’s chairman, to lead the ground-breaking NEOM project. Supported by the Public Investment Fund (PIF), NEOM is a visionary $500bn giga-project aimed at shaping the future of KSA’s economic landscape. Al Nasr’s strategic vision and proven track record position him as a key figure driving this transformative project towards success and global recognition.
Where landscape meets sea
The name NEOM signifies a vision of a ‘new future’, destined to establish itself as an innovative economic model for not only the country but also the global arena. The project is well underway, with the initial destinations set to launch in 2024. The development is being implemented in phases, including the initiation of OXAGON’s residential phase in 2024 and the transformation of TROJENA into a multi-functional area for living, working, and leisure activities by 2026. Additionally, the first modules of THE LINE will be operational by 2026, with a projected population of 1 million residents in NEOM by 2030, anticipated to grow to nine million by 2045.
In March 2024, the board of directors at NEOM revealed Treyam, an exclusive resort situated at the meeting point of the striking desert landscape and the sea. Treyam represents the newest addition to the NEOM project that is positioned at the entrance of one of the stunning azure lagoons at the southern extremity of the Gulf of Aqaba. Its innovative design creates a picturesque sunset-like effect from a distance, offering panoramic views of the tidal lagoon beneath and endless skies above, seamlessly blending with the landscape while preserving the coastal ecosystem.
Innovative solutions for challenges
King Abdullah University of Science and Technology (KAUST), in partnership with NEOM, have unveiled the inaugural nursery of the KAUST Coral Restoration Initiative (KCRI). KCRI represents the world’s most extensive coral restoration undertaking, with a global mission to renew coral reefs. The primary nursery is now operational, and a secondary facility is in progress, situated on the Red Sea coast.
This pioneering pilot establishment will serve as the model for expansive coral restoration efforts, including the world’s most extensive and sophisticated land-based coral nursery project. The initiative is set to culminate by December 2025.
In April 2024, Marriott International revealed its collaboration with NEOM to launch its second Ritz-Carlton Reserve in KSA. This forthcoming upscale accommodation is slated to debut in Trojena, an all-season mountain retreat nestled in the north western part of the nation. The resort is expected to offer 60 expansive one-to-four-bedroom villas along with an array of amenities, encompassing a spa, swimming pools, and diverse culinary venues. Trojena, a flagship development within NEOM, is evolving as a year-round hub for adventure sports, featuring skiing, water pursuits, hiking, and mountain biking.
The integrated development blueprint comprises apartments, chalets, retail outlets, dining establishments, entertainment venues, leisure facilities, sports amenities, and hospitality enclaves, including a W Hotel and a JW Marriott Hotel. The Ritz-Carlton Reserve currently includes only six exclusive properties worldwide, positioned in destinations such as Thailand, Indonesia, Puerto Rico, as well as Mexico.
Name: Mona Kattan
Designation: Co-founder and Global President; Founder
Company: Huda Beauty; Kayali
Industry: Retail
In 2018, Kattan-Elamin embarked on an entrepreneurial venture, establishing Kayali as the inaugural sub-brand under the umbrella of Huda Beauty. This marked the commencement of a new chapter in her career, with a specific focus on perfume manufacturing.
Between 2022 and 2023, Kayali distinguished itself within the fragrance industry by launching an impressive line-up of 10 new fragrances, showcasing the brand’s commitment to innovation and excellence. Kattan-Elamin’s business approach is notably influenced by social media, through which she has effectively cultivated an engaged community, amassing over four million followers across various platforms. She also made an appearance in Dubai Bling on Netflix during its second season which commenced in January 2023.
Since December 2017, she has served with distinction as co-founder, president, and board member of HB Investments in Dubai. The company’s diverse investment portfolio includes Kitopi, a comprehensive cloud kitchen network; Uptime, an application delivering succinct insights; Fresha, a refined tool for salon reservations; Humantra, a brand offering wellness supplements; The Luxury Closet, a high-end consignment platform for luxury goods; Mane Addicts, purveyors of hair care essentials; Florawnow, a leading B2B floral marketplace in the region; and Urbanic, an internationally recognised fashion label.
Kattan-Elamin’s involvement in various capacities, including as an advisory board member at The Retail Summit since August 2023, a board member and partner at Heroine Sport since May 2023, and a creative council board member at Waldencast since the same period, highlight her diverse contributions to the business landscape. Furthermore, her membership in the YPO UAE chapter underscores her engagement with a global community of chief executives.
About Kayali
Kattan-Elamin has nurtured a lifelong passion for fragrances, a passion that became the cornerstone of her journey as an entrepreneur. After achieving success with the launch and expansion of Huda Beauty alongside her sister Huda in 2013, she delved into the creation of her own brand, Kayali, in 2018.
Together, Huda Beauty, Kayali, and Wishful, the latter focusing on skincare, form the beauty empire built by the Kattan sisters. The introduction of Kayali brought forth a collection of four scents under Collection 01, aimed at promoting the Arabic art of fragrance layering. These unique fragrances include VANILLA 28, CITRUS 08, MUSK 12, and ELIXIR 11.
Kayali, meaning ‘My Imagination’ in Arabic, positions itself as an accessible luxury niche fragrance brand blending Middle Eastern heritage with Kattan-Elamin’s American upbringing. The brand ethos revolves around empowering individuals to feel regal through self-love and fragrance, emphasising Kayali’s commitment to providing exceptional scent experiences to a worldwide audience.
Name: Nadir Al Koraya
Designation: President and CEO
Company: Riyad Bank
Industry: Banking
Al Koraya holds the distinguished position of president and CEO at Riyad Bank, a prominent financial institution ranked as the fifth largest bank in the GCC region, boasting an impressive asset value exceeding $100bn. His leadership at Riyad Bank has been instrumental in steering the bank towards a trajectory of growth, innovation, and customer-centricity.
Al Koraya’s key role in the strategic transformation of Riyad Bank has contributed to its reputation as one of the region’s fastest-growing and most dynamic financial entities. Prior to assuming the position of CEO, he excelled as the chief treasury and investment officer, orchestrating comprehensive overhauls in funding mechanisms, capital management, asset and liability management, product development, and investment strategies, catalysing Riyad Bank’s exceptional expansion.
With a wealth of experience spanning over three decades in both KSA and global financial markets, Al Koraya’s journey began at Samba Financial Group, where he honed his expertise within treasury management before transitioning to Riyad Bank as the chief treasury and investment officer in 2014.
Beyond his leadership remit at Riyad Bank, Al Koraya actively contributes to the broader financial landscape as the chairman of the board at Jeel Innovation Digital Company, a board member of Riyad Capital, and a member of the Mastercard Middle East and Africa Advisory Board. His diverse portfolio showcases a commitment to fostering innovation and excellence across various sectors within the financial realm.
About Riyad Bank
Riyad Bank stands out as one of the premier financial institutions in KSA and the wider Middle East region. Their illustrious history traces back to 1957, highlighting a legacy of excellence and financial prowess. A cornerstone of their success lies in their dedicated and proficient workforce, comprising over 7,887 professionals who embody excellence and commitment. With an emphasis on nurturing local talent, Riyad Bank boasts an impressive national employment rate of 96 percent, positioning them as a vital contributor to the Saudi employment ecosystem.
Renowned for their pioneering role in finance and investment across KSA, Riyad Bank has garnered acclaim as a leading financier and arranger of syndicated loans, particularly in pivotal sectors such as oil, petrochemicals, and key infrastructure projects crucial to the kingdom’s development.
As per the official website, their expansive network of 335 licensed branches, coupled with over 227,740 POS terminals and 2,200 strategically located ATMs, ensures convenient access to their services for customers across the kingdom. Recognising the importance of global connectivity, Riyad Bank maintains a presence in London, alongside offices in Houston and Singapore, catering to the international banking requirements of their clients operating beyond Saudi borders.
Red Sea Global has finalised a financing agreement worth $522m with Riyad Bank, paving the way for the progression of the Four Seasons Hotel project on Shura Island in KSA. Anticipated to unveil its luxurious accommodations comprising 159 hotel units, the property is slated to open in early 2025.
Name: Naif Al AbdulKareem
Designation: CEO and Managing Director
Company: Bank AlJazira (BAJ)
Industry: Banking
Abdulkareem brings a wealth of diverse experience spanning over two decades in the banking sector, culminating in his appointment to his current role in late 2020. Prior to assuming his current position, he held key leadership roles on the boards of prominent financial institutions, including HSBC Saudi Arabia and SABB Takaful.
His multifaceted career includes serving as a member of the Board of Directors at SIMAH and HSBC Saudi Arabia, chairing the board of directors at SABB Insurance Agency, and contributing as the deputy managing director of Personal Banking and Wealth Management at SABB.
Additionally, Abdulkareem’s affiliations extended to roles as a board member and executive committee member at Sanid and SABB Takaful, reflecting a deep-rooted commitment to shaping the strategic direction and performance of reputable financial entities. His extensive track record showcases a blend of strategic foresight, industry acumen, and leadership prowess that has undoubtedly left an indelible mark on the banking landscape. Through a spectrum of key roles and contributions, he has exhibited a steadfast dedication to driving innovation, fostering growth, and propelling organisational excellence within the financial realm.
About Bank AlJazira (BAJ)
With a market value of $4.3bn, Bank AlJazira (BAJ), established in 1975, stands as a prominent provider of Sharia-compliant banking services throughout KSA. Noteworthy developments include the issuance of a SAR-denominated additional Tier 1 sukuk amounting to $533.3m, constituting part of a larger $1.3bn additional Tier 1 Capital Sukuk programme in June 2023.
In the financial realm, BAJ displayed robust performance in 2023, reporting total assets worth $34.5bn. This financial snapshot underscores BAJ’s strategic moves to bolster its capital structure and operational capacity, positioning it for sustained growth and resilience in the evolving banking landscape.
To address the challenges posed by its rapid growth and the expansion of online services in 2022, BAJ made the strategic decision to enhance its network infrastructure by implementing Huawei SD-WAN. By leveraging Huawei’s SD-WAN technology, the bank aimed to boost overall efficiency in delivering banking services, lower Operations and Maintenance (O&M) expenses and enhance user experiences for both online and in-branch interactions.
On 25 April 2024, in Middle East markets, specifically Saudi Arabia equities, the shareholders of BAJ approved an increase in the lender’s capital from $2.1bn to $2.7bn, as disclosed on the bourse. This capital enhancement will entail the capitalisation of $546m from the statutory reserve account through the issuance of one bonus share for every four existing shares. Consequently, the expanded capital will be divided into 1.02 billion shares, up from the previous 820 million shares. Earlier in January, board members had proposed a 25 percent augmentation of capital to fortify the bank’s capital structure, aligning with its strategic objectives.
Name: Najla Al Midfa
Designation: CEO
Company: Sharjah Entrepreneurship Centre (Sheraa)
Industry: Entrepreneurship
Having joined Sheraa in 2015, Al Midfa transitioned to her current role in 2018, where she supervises a team of 48 employees tasked with nurturing the entrepreneurial ecosystem in Sharjah. Under her leadership, Sheraa has cultivated a diverse portfolio of more than 150 startups, securing approximately $161m in investment and generating over 1,600 job opportunities.
Alongside her key role at Sheraa, Al Midfa holds board positions at prestigious institutions including the United Arab Bank, Emirates Development Bank, Sharjah Research, Technology, and Innovation Park, Dana Gas, and Emirates Schools Establishment. This multifaceted engagement underscores her extensive expertise and commitment to fostering innovation, economic growth, and educational development within the UAE.
About Sheraa
Sheraa, which means “to sail” in Arabic, is a flagship endeavour in Sharjah dedicated to fostering a robust ecosystem for entrepreneurship and innovation. Having nurtured over 160 start-ups since its inception, Sheraa is ambitiously looking to elevate this number to surpass 200 in the upcoming year. While this figure represents the start-ups directly supported by Sheraa, the organisation’s broader network encompasses a diverse array of companies. With innovation hubs situated at esteemed institutions like the American University of Sharjah and the University of Sharjah, Sheraa serves as a major driving force for entrepreneurial growth and innovative breakthroughs in the region.
On 29 March 2024, Sheraa launched their Centres of Excellence (CoEs) with the goal of stimulating and promoting multifaceted economic development in the region. These CoEs are set to redefine the landscape of entrepreneurial growth and innovation across key, future-focused sectors including manufacturing, edtech, creative industries, and sustainability.
Through a strategic vision, the CoEs will empower start-ups to drive development and growth in the four key sectors through strategic partnerships. Providing market access facilitation and impactful assessments, the initiative aims to revolutionise the support system for start-ups and catalyse a dynamic and forward-thinking entrepreneurial ecosystem in Sharjah.
Each centre aligns with key partners to maximise their impact. The Manufacturing CoE is championed by the Ministry of Industries and Advanced Technology and has onboarded the Sharjah Chamber of Commerce and Industry and Emirates Development Bank (EDB) to support the start-ups with market access and financing. The Creative Industries CoE is championed by the Ministry of Culture.
The EdTech CoE partners with the Sharjah Private Education Authority, and the Sustainability centre is championed by the Ministry of Climate Change and Environment, as well as BEEAH Group and Sharjah Sustainable City. The CoEs’ scope includes nurturing startups in manufacturing to aim for technological advancements and increased efficiency in edtech focusing on educational transformation and digital learning solutions in the creative industries encouraging artistic and digital media ventures.
Name: Nisreen Shocair
Designation: Group Chief Transformation officer for Middle East, Africa and LATAM
Company: Beyond ONE MEA
Industry: Technology
Following the acquisition of Virgin Mobile Middle East and Africa (VMMEA), Shocair was appointed to her current role at Beyond ONE, an investment and operations entity in the technology, media, and telecommunications (TMT) sector. In this capacity, she oversees the operations of both the Virgin Mobile and Friendi Mobile brands across the UAE, KSA, Oman, and Kuwait, with a primary focus on guiding the organisation into its next phase of development.
Drawing on her extensive career, she is also the founder of Shocase Luxury, a company dedicated to enhancing the global presence of jewellery and luxury brands predominantly across the US, Asia, and Europe. With a diverse background spanning retail, sustainability, entertainment, technology, and fashion in various markets such as the US, UK, Middle East, and Germany, Shocair has held significant positions including as the CEO of YOOX NET-A-PORTER Group in the Middle East, leading the launch of a live streaming shopping network for MBC, and playing a transformative role at Virgin Megastore MENA as its president across nine markets.
Her expertise in digital, publishing, retail, and licensing within the music industry notably elevated Virgin Megastores’ presence in the Middle East. She has also held leadership roles at prominent organisations like Hearst, Viacom, Sony Music, and Bertelsmann.
At Beyond ONE, Shocair is dedicated to establishing supportive ecosystems for entrepreneurs and tech talent, with a particular emphasis on empowering women at a global and regional scale. Her areas of expertise encompass leadership, negotiation, technology start-ups, digital media, entertainment, and OMNI technology start-ups. Recognised for her skills as a media host and presenter across television, podcasts, and live events, she is actively involved in philanthropic initiatives. She has received numerous accolades for her commitment to inclusive and sustainable management practices as a female business leader, from esteemed outlets including Knowledge@Wharton.
About Beyond ONE
Beyond ONE, a subsidiary of Priora Management Holding Dubai, stands as a leader in pioneering personalising and tailored digital ecosystems for consumers in emerging markets on a global scale. At the core of the company’s ethos is a profound people-centric philosophy that permeates every strand of its approach, facilitating the delivery of hyper-customised digital experiences that not only enrich the lives of individuals but also cultivate a more inclusive and interconnected global community.
Operating from its headquarters in Dubai, Beyond ONE has crafted a robust business model that encompasses a diverse and robust mobile virtual network operator (MVNO) brand portfolio, a substantial market presence, dependable digital platforms, and a steady revenue stream. In February 2024, NTT DATA Business Solutions entered a strategic partnership with Beyond ONE to introduce and implement RISE with SAP® S/4HANA Public Cloud. This collaboration signifies a significant stride towards digital innovation within the telecommunications industry.
Name: Noor Sweid
Designation: Founder and Managing Partner
Company: Global Ventures
Industry: Investment
Sweid leads Global Ventures, a leading venture capital firm overseeing a diverse portfolio of more than $300m in managed assets. The firm operates from strategically positioned hubs in Dubai, Abu Dhabi, Cairo, and Jeddah, which have played a key role in its impressive track record. With 63 investments under its belt and a commendable record of five successful exits across various markets, Global Ventures has solidified its position as a powerhouse in the realm of venture capital. Among the notable companies within its investment portfolio are Thndr, Tarabut, Yodawy, and Pyypl, reflecting the firm’s commitment to supporting innovative and high-growth ventures in the region and beyond.
In addition to her leadership role at Global Ventures, Sweid lends her expertise as a board member to Immensa, an innovative additive manufacturing start-up. Her illustrious career includes serving as the chief investment officer at the Dubai Future Foundation, co-founding Leap Ventures, and holding a founding board member position at Endeavor UAE. She is also credited with establishing ZenYoga, a network of yoga and Pilates studios that was later acquired by Cedarbridge in 2014.
Sweid’s professional accolades include being part of the inaugural Finance Leaders Fellowship class and the prestigious Aspen Global Leadership Network. She has been recognised as a Young Global Leader by the World Economic Forum, highlighting her exemplary contributions to the business landscape.
A defining moment in Sweid’s career was her historic achievement as the first Arab woman to scale, take public, and manage a public company in the MENA region. This milestone was materialised through her family’s business, Depa, which was listed on NASDAQ Dubai and the London Stock Exchange in April 2008, commanding a valuation of $1.1bn.
Beyond her personal achievements, Sweid holds key leadership roles, including serving as the founding chairwoman of the Middle East Venture Capital Association (MEVCA) and as a director of the Global Private Capital Association, TechWadi, and the Karman Fellowship. She remains an active member of esteemed organisations such as the Aspen Global Leadership Network and has held influential Board Director roles at MIT Sloan and as a founding board member of Endeavor UAE.
About Global Ventures
Global Ventures, headquartered in Dubai, is a venture capital firm specialising in early-stage investments in high-growth companies throughout the MEA region. Their focus is on globally scalable enterprise technology companies, taking advantage of undervalued markets to accelerate the expansion of emerging businesses into international markets, with a goal of increasing valuation and revenue.
Since its inception in 2018, Global Ventures has been led by Sweid, who brings a wealth of diverse business experience to the firm. While their primary target is startups in the MENA region with annual revenues exceeding $1m, Global Ventures criteria for investment include companies that are industry leaders, generate revenue, are scalable, capital-efficient, and have a clear exit strategy.
Name: Olayan Alwetaid
Designation: Group CEO
Company: stc
Industry: Telecoms
Alwetaid took on the role of chairman of SAMENA and a GSMA board member upon his appointment at stc on 28 March 2021. With over two decades in the industry, he has consistently progressed through various key senior leadership positions within stc. His journey includes serving as the senior VP for the consumer sector, the CEO of stc Bahrain, and as the vice chairman of the board of directors at stcPay.
Alwetaid also leads the boards of directors of stc subsidiaries such as Integral, CCC, and Channels, where he holds the chairmanship of several key committees responsible for strategic decision-making and oversight. This diverse and extensive experience has equipped him with a deep understanding of the telecommunications sector and a proven track record of driving impactful growth and innovation across diverse markets and business units.
About stc
Leading the region’s digital transformation nationally and regionally, as a pioneer digital champion, stc is transforming from a telecommunications provider to an advanced digital player, backed by multiple achievements across cloud services, cybersecurity, digital transformation, application programming interface (API) management, and big data. Stc is aligned toward the achievement of the three key pillars of Vision 2030: a vibrant society, a thriving economy, and an ambitious nation.
As of June 2023, stc entered into a binding agreement with Devoteam SAS (France) and ORTLL Investment Limited, culminating in the acquisition of a 40 percent stake in Devoteam Middle East (DME). Upon completion and regulatory approval, this will bolster stc’s capabilities within the IT sector and will amplify digital transformation through a holistic network of affiliates, each specialising in diverse areas such as digital infrastructure, Internet of Things, cloud computing, cybersecurity, digital financial services, and business outsourcing services.
In April 2024, the Public Investment Fund (PIF) of KSA plans to acquire a 51 percent stake in Tawal, the largest telecommunications infrastructure company in KSA and a key player in the regional market, valued at $5.85bn. This stake was previously held by stc Group.
Following the acquisition, PIF and stc Group will merge Tawal with Golden Lattice Investment Company (GLIC), where PIF holds a majority stake, to create a new entity that will become the largest company in the telecommunications infrastructure sector regionally. PIF will own 54 percent of the new entity, stc Group will own 43.1 percent, and GLIC minority shareholders will hold the remaining shares.
The agreements between PIF and stc Group signify their joint commitment to integrate and strengthen the telecommunications infrastructure sector in KSA, with the aim of unlocking its combined potential. This initiative follows Tawal’s acquisition of infrastructure assets in Bulgaria, Croatia, and Slovenia, positioning this Saudi national champion as the largest independent tower company in the region. The new merged entity is expected to operate around 30,000 mobile tower sites, making it one of the largest global tower companies with projected annual revenues of approximately $1.3bn.
Name: Othman Ibrahim
Designation: Vice Chairman and Group CEO
Company: Rawabi Holding
Industry: Diversified
Imparting a legacy with a distinguished career spanning 35 years, Ibrahim has led Rawabi Holding to become one of the foremost conglomerates in the Middle East, earning recognition for the second time in the Top 100 Arab Family Businesses. In 2023, he played an instrumental role in overseeing Rawabi Holding and its subsidiaries’ successful conclusion of one of the largest private sector syndicated financings in KSA, achieving a financial close of a $1.9bn syndicated multi-currency, senior secured term with revolving SAR and USD facilities.
Ibrahim’s extensive professional background has equipped him to manage diverse sectors and assume various leadership roles, enabling him to develop effective strategies, analyse information, and assess risks. His cumulative experience has guided his vision to foster sustainable growth and success for Rawabi Holding and its subsidiaries.
Led by a leadership style that inculcates a belief in the capabilities and potential of people, Ibrahim has enabled the group’s internal culture of “powered by people”, which has earned recognition as a Great Place to Work based on employee surveys. Managing a workforce of 14,000 employees, his inspirational leadership led to his inclusion among the Top 100 CEOs in the Middle East in 2023.
Moreover, his influential presence extends to various entities in the role of chairman, including United Safety Ltd Canada, Vallianz Holding Singapore, Equatorial Energy Singapore, PT VOM Indonesia, and Rawabi Vallianz Offshore Services. Beyond Rawabi Holding, he serves as a director on the boards of Wildcat Oil Tools in the USA, Redland Industrial Services (Arabia) (RISAL), and Kalaam Telecom in Bahrain, while chairing the Audit Committee at Rawabi Human Resources Company.
Championing green initiatives, Ibrahim signed an agreement with NETZERO, a leading organisation in nature-based solutions, during the first quarter of 2024 to plant 1,000 trees which supports the Saudi Green
initiative. Additionally, Rawabi Holding sponsors several sustainability programmes supporting the environment and the community, earning recognition in the Top 50 Saudi Brands in social responsibility.
Global real estate recognition
Rawabi Holding has gained global recognition in the real estate sector through the success of Magnom Properties, its real estate arm. Magnom Properties achieved acclaim at a global level with its project, Forbes International Tower, by securing the prestigious awards for Best International Commercial High-rise Development and Best International Mixed-Use Development during the International
Property Awards – IPA 2024. This accomplishment surpassed several renowned projects worldwide, including Distrito Armida in North America, One & Only One Za’abeel in the UAE, Heartland 66 in the Asia-Pacific region, and Rams Beyond Istanbul in Europe.
About Rawabi Holding
Headquartered in Al Khobar, Rawabi Holding is dedicated to empowering people, fostering innovation, and driving economic development. Through partnerships with forward-thinking companies spanning multiple sectors including energy, contracting, industrial, and real estate, the conglomerate contributes to the kingdom’s trajectory towards a prosperous future.
Name: Randa Mustafa
Designation: Managing Partner
Company: Royal Lounge Properties
Industry: Real Estate
Randa Mustafa is a pioneering leader in the real estate sector, driven by a deep-rooted passion for entrepreneurship that has shaped her multifaceted career. With ventures spanning diverse business domains worldwide, she has established herself as a dynamic and accomplished entrepreneur, owning and managing over five successful businesses on a global scale.
In her current role at Royal Lounge Properties in Abu Dhabi, Randa has emerged as a trailblazer in the real estate industry, showcasing her expertise and dedication to excellence. Her recent achievement of an associateship in the prestigious International Real Estate Federation underscores her commitment to advancing in the field and signifies her recognition as a leader in the global real estate community.
As a talented marketer, her trajectory exemplifies her relentless pursuit of perfection and her adeptness in navigating the complexities of business with finesse. Randa’s exceptional accomplishments have been lauded internationally, with honours bestowed upon her in Paris, France, by the International Real Estate Federation. Through her visionary leadership and unwavering commitment, she continues to set new standards for success, leaving a lasting imprint on the real estate sector and inspiring the next generation of entrepreneurs.
Amidst her illustrious career, Randa has not only demonstrated exceptional leadership but has also garnered a plethora of accolades and awards for her remarkable contributions. From receiving the ALDAR Ambassador Award to being recognized as a winner in Real Estate Brokerage by the Luxury Lifestyle Awards, her visionary leadership has propelled Royal Lounge Properties to the forefront of the industry, solidifying her reputation as a distinguished leader in real estate.
About Royal Lounge Properties
Operating in prime locations across the UAE, Royal Lounge Properties boasts three branches in Abu Dhabi alone, including its main sales centre situated at the prestigious location of The St. Regis Saadiyat Island, Abu Dhabi. This strategic positioning allows the company to offer a comprehensive range of services tailored to meet the diverse needs of its clients. From residential to commercial properties, the company’s commitment to excellence permeates every aspect of its operations.
Royal Lounge Properties, under Randa’s astute guidance, has garnered international acclaim, earning an invitation to Moscow’s Premier International Real Estate Show (MPIRES). This prestigious event serves as a testament to the company’s sterling reputation and unwavering commitment to excellence on the global stage. In addition to these accolades, Royal Lounge Properties has been consistently recognised for its excellence in service and innovation.
The company has received prestigious awards such as the MAG Outstanding Sales Achievement Award, and the Award Winner for Best Real Estate Agency Marketing. Moreover, Royal Lounge Properties has been recognised with the ALDAR Honours Award for being the Top Performing Agency and has consistently ranked among the Top 10 Companies in Abu Dhabi for the past years since its inception.
Name: Randa Sadik
Designation: CEO
Company: Arab Bank
Industry: Banking
Sadik has forged an illustrious career in the banking and financial services industry, spanning three decades of significant achievements and leadership roles. Her career trajectory culminated in February 2022 when she assumed the role of CEO at Arab Bank, following her tenure as the deputy CEO for over ten years in Jordan’s largest financial institution. With an impressive background of 24 years in diverse leadership positions, Sadik notably served as the group general manager of the International Banking Group at the prestigious National Bank of Kuwait.
Sadik’s strategic acumen and visionary leadership have been integral in guiding Arab Bank towards a trajectory of expansion and sustainable growth. Her strategic direction and notable accomplishments have not only bolstered the bank’s standing locally and regionally but have also reinforced its reputation as a leading financial institution. Under her adept guidance, Arab Bank has collaborated on the Women’s Economic Empowerment project, helping women through initiatives that foster financial stability and uplift their living standards.
Beyond her role as CEO, Sadik plays an active and influential role in various leadership positions within the Arab Bank Group. She assumes the mantle of board member for Oman Arab Bank and demonstrates her leadership acumen as the chair of the Arab Tunisian Bank board. Additionally, Sadik spearheads the management committee of the Al-Arabi Investment Group, showcasing her dedication to strategic decision-making and oversight.
Furthermore, she holds the position of vice chairman at Arab Bank Australia, while also serving as the chairman of the Arab Tunisian Bank and the vice chairman of Arab Bank Australia. Her multifaceted roles within these institutions reflect her unwavering commitment to driving growth, innovation, and excellence across the banking and financial landscape.
About Arab Bank
Arab Bank has witnessed significant financial growth, with net profits amounting to $630.3m during the initial nine months of 2023, marking a substantial 55 percent increase compared to the same period in 2022. In August 2023, the bank introduced Arabi SMEs, a tailored suite of integrated banking solutions designed specifically for small and medium-sized enterprises. This comprehensive offering, anchored by the innovative Arabi Next app, provides advanced digital solutions catering to SMEs’ unique needs, delivering a seamless and uninterrupted banking experience for users.
Arab Bank, in alliance with INJAZ, has introduced a targeted training scheme to enhance financial awareness among university students in multiple regions of Jordan. This initiative is integrated into Arab Bank’s sustainability strategy, focusing on financial inclusion, literacy, and social responsibility within the local community. The programme, spanning six universities in Jordan, aims to educate students on essential financial concepts such as effective financial planning, savings strategies, and the latest financial products and services, including digital banking solutions.
Name: Reem Osman
Designation: Regional CEO, UAE, Oman, Iraq, Jordan, Lebanon, Syria and Pakistan
Company: Saudi German Health (SGH)
Industry: Healthcare
Dr. Osman has been leading Saudi German Health (SGH) in her current role since May 2021, leveraging her extensive two-decade healthcare experience. With a medical background from Tishreen University of Medicine and dual master’s degrees in business administration and ophthalmology and eye surgery from Wollongong University in Sydney, Australia, complemented by a certificate in management healthcare delivery from Harvard Business School, Dr. Osman’s leadership has driven SGH’s success in Dubai’s healthcare sector and the Middle East’s medical tourism market.
Her journey from dedicated ophthalmic surgeon to accomplished healthcare manager spans over 11 years, showcasing her visionary leadership that has propelled SGH UAE to new heights through strategic expansions and transformative initiatives.
Recognised for her contributions to healthcare management, Dr. Osman’s oversight has earned SGH prestigious accreditations, accolades, and awards while reinforcing the group’s commitment to social responsibility through philanthropic endeavours like the Zayed Giving Initiative and the Arab Women Foundation. Her strategic acumen in corporate strategy, talent acquisition, and development planning has greatly enhanced SGH UAE’s financial performance and competitive edge under her guidance.
About SGH
With a long-standing family legacy as medical trailblazers in the Kingdom, SGH was established by the Batterjee family and has since evolved into the preeminent private healthcare provider spanning the MENA region. Their expansion and success underscore the culmination of years of dedication and innovation, setting new benchmarks in the healthcare industry.
The group’s journey reflects a deep-rooted pride in their Saudi origins, showcasing their ability to forge impactful partnerships on a global scale. Embracing a diverse range of offerings such as subspecialty clinics, affiliations with the Mayo Clinic Care Network, the International Visiting Professor Programme, the Saudi German Academy, and several other transformative ventures, SGH continues to shape the future of healthcare delivery and education with pioneering strides towards enhanced patient care and medical education.
SGH operates 18 facilities across KSA, UAE, Egypt, Yemen, Morocco, and Pakistan, making it one of the largest hospital groups in the MENA region. SGH Dubai, embodying the ethos of “Caring like family,” offers a wide range of medical services, including critical care, specialties, subspecialties, and a significant private sector emergency department. With over 35 years of excellence, SGH serves over 3,000 beds, more than 9,000 employees, and caters to 2.5 million patients annually across 44 medical specialties and subspecialties.
At Arab Health 2024, SGH showcased its commitment to medical advancement with initiatives like the Ahaleena loyalty programme, enabling patients to accumulate points redeemable for medical services across SGH facilities. The upcoming SGH RCM Academy will provide comprehensive education on revenue cycle management and healthcare aspects.
Name: Rola Abu Manneh
Designation: CEO UAE, Middle East, and Pakistan
Company: Standard Chartered
Industry: Banking
Abu Manneh is the first Emirati woman to lead an international bank across the UAE, Middle East, and Pakistan following her role as CEO of Standard Chartered UAE, which she held since August 2018. She has been instrumental in transforming Standard Chartered’s UAE business into one of the largest three markets for the Standard Chartered Group globally. In January and May 2023, Abu Manneh was appointed director on the boards of both Standard Chartered (Pakistan) and Standard Chartered Uganda. She is also a board member at MyZoi, a wholly owned subsidiary of Standard Chartered and incubated through SC Ventures.
In 2021, she was selected as a member of the board of directors of the Dubai International Chamber, whose mission is to represent, support and protect the interests of the business community in Dubai. Throughout the years, she has consistently championed women’s empowerment and female entrepreneurship. She actively spearheads initiatives aimed at providing mentorship programmes for university students, ensuring participants are well-prepared with the necessary skills for success. Her impact extends globally, as evidenced by her roles such as a member of the Global Council for Sustainable Development Goal 5 – Gender Equality (‘SDG5’), a UAE delegate in the G20Empower, and a member of the NYUAD Vice Chancellor’s Leadership Council.
Additionally, she serves as a director on the Board of Make-A-Wish Foundation UAE and holds advisory positions for both the Global Summit of Women and the Fortune Global Forum.
Prior to her career with Standard Chartered, Abu Manneh served as the Head of Corporate & Investment Banking for Abu Dhabi at First Abu Dhabi Bank (FAB). Prior to this, she held the role of general manager of FAB’s Wholesale Banking Group, comprising Project Finance Syndications, Financial Institutions Group, and Global Transaction Banking. She holds a Bachelor of Science in Mathematics & Operational Research from the University of London, Royal Holloway, and Bedford New College.
About Standard Chartered
Standard Chartered’s purpose is to drive commerce and prosperity through its unique diversity. It sets a single direction for everything the bank does, connecting its strategy to its growth and the ambitions it has in the societies that it operates in. The bank’s strategic priorities put this purpose into action by connecting the Bank with major economic and social shifts in the markets they call home. This defines how the Bank engages with its customers and society as it aligns its activities to these shifts to shape the forces driving its growth.
Furthermore, the bank has pledged its support to the UAE’s sustainability agenda, with a dedicated team focusing on environmental, social, corporate governance, and sustainable finance and is well positioned to deploy its resources strategically to support the UAE in achieving its 2050 net zero objective.
Name: Ronaldo Mouchawar
Designation: Vice President
Company: Amazon MENA
Industry: E-commerce
Mouchawar holds a prominent position in the dynamic e-commerce sector of the MENA region. He spearheaded the evolution of Souq.com Group into the largest e-commerce retailer in the Arab world, culminating in its acquisition by tech behemoth Amazon for $580m in 2017. His strategic vision, dating back to 2005 when Souq.com was established in the UAE, led to significant expansions into vital markets such as KSA and Egypt. In 2014, he introduced the annual White Friday sale, cementing its position as a highly anticipated shopping event in the region.
Mouchawar further extended the reach of Souq.com through the launch of PayFort, a premier online payment service, and Q-Express, a logistics division aimed at enhancing delivery efficiency. The growth trajectory of Souq.com was underlined by a $275m investment in 2016, propelling its valuation to over $1bn and solidifying its status as the region’s first unicorn.
Following the acquisition by Amazon, the transition to Amazon.ae in the UAE in 2019 and Amazon.sa in KSA in 2020 showcased his strategic alignment with the global e-commerce giant. Mouchawar’s commitment to enhancing the user experience through Arabic language support led to the introduction of Amazon Prime in the UAE in 2019 and Amazon Home Services in 2020, alongside the launch of Prime in KSA in 2021.
His influential contributions extend beyond e-commerce into the realm of technology and innovation, evident through investments in platforms like Instashop, a UAE-based grocery app, which was acquired by Delivery Hero in 2020. Mouchawar’s active involvement in shaping the future landscape of technology in the region is reflected through his advisory roles on renowned boards, including the Dubai Future Academy and the International Advisory Council at the Executive Council.
About Amazon MENA
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Amazon MENA continues to innovate and transform e-commerce experiences across the region. The recent establishment of a cutting-edge Fulfilment Centre in Dubai in April 2023, equipped with state-of-the-art technology to enhance storage capacity by 70 percent, underscores the company’s commitment to operational efficiency.
Situated in Dubai South’s Logistics District, the facility strategically supports key transportation hubs, contributing significantly to the digital economy objectives of the UAE. The expanded capacity is geared towards accommodating products from 100,000 businesses on Amazon.ae by 2026 and includes tailored training and upskilling programmes for employees, aligning with the UAE’s burgeoning digital economy.
Amazon.ae has extended its international shopping experience to Qatar, allowing local customers access to a wide array of products from the UAE, accessible in both Arabic and English to cater to the preferences of users based on their location and shipping address.
Name: Saeeda Jaffar
Designation: Senior Vice President and Group Country Manager – GCC
Company: Visa
Industry: Financial Technology
Jaffar is a highly experienced leader with a strong background in financial services, payment systems, and digital technologies. Her career spans roles in private and investment banks, private equity firms, and sovereign wealth funds. At Visa, she helmed forward-thinking initiatives, including the sponsorship of the FIFA World Cup and the launch of the Visa Masters of Movement NFT Collection. Notably, she was instrumental in spearheading Visa’s impactful She’s Next initiative in the UAE, empowering local women entrepreneurs through valuable networking, mentoring, and funding opportunities.
Throughout her 20-year career, Jaffar has been deeply involved in strategic, M&A, and performance-related undertakings across diverse industries. In her current position, she leads a dedicated team focused on propelling Visa’s business growth with key clients and partners from financial institutions, governmental bodies, and collaborators, furthering Visa’s overarching mission to foster prosperity for individuals, businesses, and economies.
Her professional journey has seen her engage extensively across the Middle East, Europe, and the US, contributing strategic insights and expertise to clients in the financial services sector, including universal banks, investment banks, private banks, private equity firms, sovereign wealth funds, government entities, and family-owned businesses.
Beyond her impactful role at Visa, Jaffar serves as a trusted board member of trustees at the American University of Kuwait (AUK), leveraging her extensive financial services and payments sector knowledge in this capacity. Drawing from her experience as the managing director for the Middle East at Alvarez and Marsal over the past five years, she has held distinguished leadership positions at United Arab Bank, Bahrain FinTech Bay, and McKinsey and Company.
About Visa
As a global leader in digital payments, Visa operates across more than 200 countries, facilitating seamless connections among consumers, businesses, financial institutions, and governments through a secure and efficient payment network. Committed to advancing women’s entrepreneurship, Visa has dedicated over $3m since 2020 to support women-owned businesses in over 30 countries through grants and the impactful She’s Next initiative.
Visa stands as a founding member of Dubai Police’s Economic Crimes Operations Centre. Over the past five years, Visa has invested $10bn in cutting-edge technology to bolster security measures and reduce fraudulent activities, including a $500m allocation towards AI and data infrastructure to safeguard clients and consumers by leveraging advanced AI capabilities. In March 2024, Visa unveiled the results of an independent study titled Value of Acceptance, which explores merchants’ attitudes towards digital payments and the impact of digital commerce on small businesses and retailers in the UAE.
The findings from Visa’s study demonstrated that 68 percent of surveyed merchants accepting digital payments claimed acceptance of payment through card and mobile wallets is an essential investment that contributes to their growth. While digital payment-accepting merchants surveyed are aware of the associated costs with acceptance, 95 percent believe that the value and benefits derived from digital payment acceptance are at par with or exceed associated costs.
Name: Saad Sherida Al Kaabi
Designation: CEO and Minister of State for Energy Affairs
Company: Qatar Energy
Industry: Energy
Al Kaabi commenced his tenure with Qatar Energy during his academic studies and upon his graduation, assumed a key role within Qatar Energy’s Reservoir & Field Development Department. Over time, he ascended through a series of diverse positions encompassing commercial, technical, petroleum engineering, and supervisory functions.
On an upward career trajectory, he progressed to the role of Gas Development Manager, overseeing the management and development initiatives of North Field. Al Kaabi and his team managed the implementation of numerous large-scale gas projects founded on cutting-edge technologies. These endeavours played an instrumental role in propelling Qatar’s rise as a preeminent global LNG and GTL hub.
Expanded duties and nominations
Alongside his role as president & CEO, Al-Kaabi was recognised with the titles of minister of State for Energy Affairs and cabinet member of the State of Qatar, as well as deputy chairman of Qatar Petroleum, on 4th November 2018. He presides over the strategic activities of two key entities in Qatar’s commercial landscape, Qatar Petroleum, overseeing the spectrum of oil and gas operations, and Industries Qatar.
Al Kaabi holds a Bachelor’s Degree in Energy & Gas Engineering from the Pennsylvania State University in the US. In his capacity as Minister of State for Energy Affairs, his core duties encompass the formulation of overarching policies and strategies for the national industrial sector, ensuring efficient exploitation of the country’s natural resources in adherence to legislation, and bearing the ultimate accountability for all energy-related matters, among other critical responsibilities.
Qatar Energy and sustainability
Qatar Energy recognises the critical importance of sustainability and is committed to the sustainable development of their business, their people, and broader society. The conglomerate demonstrates this by adopting a comprehensive and integrated approach in addressing the challenges posed by climate change, taking action to mitigate the impact on the environment, ensuring safe and responsible operations, and contributing to overall social and economic development. Qatar Energy believes that by integrating sustainability into their businesses and operations, they can contribute to building a better future for all.
Their sustainability strategy is founded on three pillars, including climate change and environmental action, operational responsibility, and social and economic development.
Qatar Energy produces the ingredients that are used to create just about everything, from medicines and fertilisers to electronic devices and paints, to clothing and building materials.
As a fully integrated energy corporation, Qatar Energy covers the full spectrum of the oil and gas value chain, from exploration to production, from processing and refining to sales and delivery. As the world’s leader in the production of Liquified Natural Gas (LNG), Qatar Energy is adapting their direction and strategic objectives to meet the challenges of the new business environment with greater dynamism, resilience, and efficiency.
They are currently implementing their North Field East Project (NFE) to raise their LNG production capacity from 77 million tonnes per year currently to 110 million tonnes per year. NFE represents the first phase of Qatar’s planned LNG expansion. The second phase of Qatar’s LNG expansion project, the North Field South Project (NFS), will further increase Qatar’s LNG production capacity from 110 million tonnes per year to 126 million tonnes per year.
Qatar Energy’s LNG fleet expansion programme
On 31 March 2024, Qatar Energy signed long-term time charter party (TCP) agreements with four international shipowners for the operation of 19 new, ultra-modern conventional size LNG vessels as part of the second ship-owner tender under Qatar Energy’s historic LNG fleet expansion programme. The agreements cater for the operation of six vessels by CMES LNG Carrier Investment, six vessels by Shandong Marine Energy (Singapore), and three vessels by MISC Berhad; all of which are being constructed at Samsung Heavy Industries in South Korea. The remaining four vessels will be operated by a joint venture of Kawasaki Kisen Kaisha (K-Line) and Hyundai Glovis Co. and are being constructed at Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) also in South Korea.
Since 2022, Qatar Energy has signed a series of TCPs for the long-term charter and operation of 104 conventional LNG vessels, as part of its historic LNG fleet expansion programme. This initiative will support Qatar Energy’s expanding LNG production capacity from the North Field LNG expansion and Golden Pass LNG export projects, as well as meeting its long-term fleet replacement requirements.
43 ships out of the 104 will be chartered by Qatar Energy’s affiliate Qatar Energy Trading, marking it the single largest one-step ship acquisition programme of any single entity in the history of the LNG industry, and placing Qatar Energy and consequently Qatar Energy Trading firmly on the road to becoming a leading global LNG trader. The 19 conventional LNG vessels, part of today’s agreements, have a capacity of 174,000 cubic metres each and will be equipped with the latest LNG shipping technologies, embodying Qatar Energy’s ongoing endeavours to achieve optimal fuel efficiency and reduce carbon emissions.
Recent acquisitions
In March 2024, Qatar Energy and Total Energies signed a farm-in agreement with Africa Oil Corporation, Ricocure, and Eco Atlantic Oil & Gas to acquire participating interests in Block 3B/4B, offshore South Africa. Following completion of the transaction, Qatar Energy will hold a 24 percent participating interest in Block 3B/4B, Total Energies will hold 33 percent and will be the operator, while the remaining participating interests will be held by existing licence holders, Africa Oil Corporation (17 percent), Ricocure (19.75 percent) and Eco Atlantic Oil & Gas (6.25 percent).
Name: Sahar Cooper
Designation: CEO
Company: Aldar Education
Industry: Education
Boasting over 30 years of expertise in international education management, Cooper took up her current role in 2018. Her background includes key leadership positions at GEMS Education and a tenure as associate director of Operations at American University of Sharjah. With a career stretching 25 years in global education leadership, she has dedicated the last 19 years to various senior roles in the UAE, including as the associate director of Operations at the American University of Sharjah.
Previously, Cooper served as the chief schools’ operations officer at GEMS Education, one of the world’s largest K-12 private education providers. Her role was instrumental in enabling schools to concentrate on premium education delivery by offering centralised operational support and commercial leadership for all non-academic functions. This involved aligning strategies and programmes to create business value for both internal as well as external stakeholders.
Cooper’s management prowess is evidenced in her leadership of sizable, intricate multi-site educational projects. She has a proven history of enhancing business performance within the education sector across operational delivery, supply chain management, risk and governance, health and safety, strategy formulation and implementation, project management, M&A integration, as well as facilities and asset management. Furthermore, her robust experience encompasses talent development, succession planning, in addition to leading organisational change.
About Aldar Education
Since the establishment of The Pearl Academy in 2007, Aldar Academies has rapidly progressed to become a key provider of private education, currently serving over 6,500 pupils across seven academies. Aldar Academies is advancing plans to enhance its existing schools and construct new ones, with the aim to double its capacity to over 14,000 students in the forthcoming years. These growth plans include ambitions to broaden its presence within the nursery sector, offering children the opportunity for priority admissions into Aldar Academies’ primary schools.
The initiatives of Aldar Education are guided by the Abu Dhabi Economic Vision 2030, which is dedicated to fostering a sustainable, knowledge-based economy via exceptional education services. In alignment with this vision, Aldar Education has committed a substantial investment of $272 million into the capital’s educational sector. This funding is allocated towards integrating the latest instructional technologies, augmenting creative and sports facilities, and establishing strategic partnerships with industry giants, including Microsoft.
Beginning in the 2023-2024 academic year, Aldar Education has embarked on a comprehensive digital transformation of all of its schools. This strategy entails the integration of superior technology to elevate the educational landscape and facilitate cohesive communication among pupils, educators, parents, and management staff. The group is deploying sophisticated technology in classrooms to support pioneering educational approaches.
Name: Sameh Muhtadi
Designation: CEO
Company: Rak Properties
Industry: Real Estate
Muhtadi is a real estate industry veteran with a proven track record in the sector. In his current role since 2022, he has been leading the company to formulate and achieve its strategy and carry on with its vision and mission, overseeing the high-level communication with stakeholders and the board to ensure that strategic objectives are achieved. His tenure has been marked by strategic brilliance fostering growth and greatly helped Ras Al Khaimah’s positioning as a leading tourism and investment destination.
His visionary approach has propelled RAK Properties to new heights in the real estate sector. Renowned in the industry for his robust corporate governance, market expertise, and for building communities, Muhtadi brings with him extensive international prime real estate and operational experience from Asia, the Middle East, and the US. In the dynamic real estate sector, he stands out as a beacon of transformative leadership.
Backed by more than 30 years of experience in real estate development and investment, construction management, project management, financial regulations, and planning, he has previously held leadership positions at Arabtec Construction, The Morgan Stanley-Orascom Infrastructure Fund, Emaar Properties-Misr and Orascom-Contrack.
More than just a businessman; Muhtadi is a visionary architect of sustainable growth and innovation. His leadership has not only achieved impressive financial milestones but has also reshaped the landscape of Ras Al Khaimah with developments that blend with nature. His commitment to sustainability, community well-being, and strategic foresight is unparalleled.
His dedication to both the community and the environment, combined with his strategic partnerships as well as rebranding initiatives, positions him as a trailblazer, leading RAK Properties into a bright future.
About RAK Properties
Founded in accordance with the vision of Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, RAK Properties is committed to advancing economic growth and community development initiatives in the emirate of Ras Al Khaimah. The company seeks to enhance shareholder value through development projects in both coastal and inland areas of Ras Al Khaimah. Embracing the company’s ethos that “people make the place”, Muhtadi has substantially augmented the RAK Properties team, currently boasting a robust 165-strong workforce.
His focus on cultivating a culture of excellence and innovation underpins the company’s growth, not just in size but in setting new standards within the real estate sector. Muhtadi’s strategic acumen has played a major role in maintaining a formidable liquidity position, enabling transformative acquisitions, and spearheading a series of project launches.
The imminent inauguration of the Anantara Mina Al Arab resort and Spa, coupled with high-profile collaborations with esteemed global brands such as Ellington Properties and Nikki Beach, exemplifies the company’s ambitious trajectory.
Name: Samer Soliman
Designation: CEO
Company: Arab Financial Services (AFS)
Industry: Finance
Responsible for driving the company’s digital payments and fintech growth strategy across the Middle East and Africa markets, Soliman is leading the company into a new era of payments digitalisation, spearheading the application of new technologies for more seamless and intuitive payments experiences.
A thought leader with over 20 years of international experience across the banking and payments sector, he brings a unique blend of payments, technical, and regional expertise to the role. He holds a master’s degree in Leading Innovation and Change from Robert Kennedy College in Switzerland, in partnership with York St John University in England and has completed his CEO program from IESE, Business School of the University of Navarra in collaboration with The Wharton School at the University of Pennsylvania.
Previously, Soliman held several senior leadership roles at Network International, including the role of managing director for the Network International Group’s Middle East business where he was responsible for their regional acquiring and issuing business. He also steered a comprehensive growth strategy across the Middle East. He has also held various executive positions including chairman of Network International Jordan, board member of Diners/Discover ME, managing director of Network International Egypt, and product advisory board member of UnionPay International.
With the company’s executive team, he is continuing the AFS tradition of pioneering new, smart payment solutions and services to the region, including advancing the company’s financial inclusion efforts. With a passion for superior company-customer relationships and forward-thinking innovation in the payments space, Soliman continues to strengthen AFS’s position as the leading digital payment solutions provider and fintech enabler in the MEA region.
As part of his ongoing commitment to fintech and developing future leaders, he is a board advisor to Sarwa Digital Wealth Limited and a Board Member of SP Jain Global School of Management, a leading, multi-city Australian business school known for its disruptive innovation in business education, in Dubai, Mumbai, Singapore and Sydney.
About Arab Financial Services (AFS)
AFS is a leading digital payments solutions provider and fintech enabler that has pioneered forty years of fintech innovation. The company is committed to identifying and embedding new and exciting digital payment solutions that bring immense value to the region’s business and banking communities, end users and consumers. Collectively owned by 37 banks and financial institutions and regulated by the Central Bank of Bahrain, AFS serves over 60 clients spanning over 20 countries in the MEA region.
The company’s commitment to innovation is exemplified through a range of innovative payment services, encompassing card processing, merchant acquiring, fintech products and solutions, and a diverse set of value-added services. Its innovative approach has positioned AFS as a driving force in the market, offering a comprehensive portfolio of payment products, that include digital mobile wallet apps, digital payroll solutions, an open banking hub, pioneering open finance infrastructure, and much more.
Name: Sultan Ahmed Bin Sulayem
Designation: Group Chairman and CEO
Company: DP World
Industry: Logistics
Bin Sulayem has played a crucial role in driving Dubai’s growth through strategic contributions including the development of regional free zones, ports, and infrastructure, leading to the UAE’s upward trajectory. His impact is evident in his diverse roles, which include serving as a board member of the Dubai Executive Council, the chairman of Virgin Hyperloop One, and chairman of the UAE Federal Tax Authority.
Bin Sulayem spearheaded the international expansion of DP World, a leading marine terminal operator. Notably, under his leadership, DP World acquired the P&O Group for $6.8 billion in March 2006, establishing it as one of the world’s largest port operators and a key trade facilitator, with a substantial global presence across 78 marine and inland terminals spanning six continents.
He also oversaw the development of the Jebel Ali Free Zone (Jafza) and played a pivotal role in the establishment of Nakheel. He founded and successfully led Istithmar World, a venture focusing on private equity investments in North America, Europe, Asia, and the Middle East. Furthermore, he played a key role in establishing the Dubai Multi Commodities Centre (DMCC), a market catering to gold, precious metals, diamonds, coloured stones, and more.
About DP World
DP World UAE, situated in Dubai, is the central hub of DP World, housing the renowned Jebel Ali Port, which serves as the primary maritime commercial gateway and key hub to a region encompassing over 3.5 billion individuals. The extensive portfolio of DP World UAE includes Jebel Ali Port; Mina Rashid Cruise Terminal and Coastal Bert, and P&O Marinas. Additionally, it comprises Mina Al Hamriya in Dubai, Jebel Ali Free Zone (Jafza), NIP, Dubai Auto Zone (DAZ), and Dubai Trade & World Security.
Jebel Ali Port acts as a vital gateway for more than 80 weekly services connecting over 150 ports worldwide. DP World has also committed to a $500m logistics park in support of Saudi Arabia’s Vision 2030. Notably, this year, DP World launched the first direct freight service between the UAE and Iraq, significantly reducing transportation times for goods.
In February 2024, DP World marked a significant milestone with the ground-breaking ceremony for its new Agri Terminals facility at Jebel Ali Port, initiating a transformative journey to enhance food security in the UAE. Collaborating with Adroit Overseas Canada and Al Amir Foods, DP World plans to invest a total of $150m to construct the state-of-the-art Agri Terminals complex.
The facility will focus on storing and processing various agricultural products like pulses, grains, corn, and soybeans, utilising DP World’s cutting-edge infrastructure such as pneumatic ship unloaders and advanced conveying equipment. The first phase of this landmark project is scheduled for completion in early 2025, underlining DP World’s dedication to strengthening the UAE’s food supply chain in line with the National Food Security Strategy 2051, while also reinforcing Dubai’s role in global food trade.
Name: Sultan Ahmed Al Jaber
Designation: UAE Minister of Industry and Advanced Technology; Group Managing Director and CEO
Company: ADNOC
Industry: Government
In his capacity as the UAE’s Special Envoy for Climate Change and as the president for COP28, Dr. Al Jaber has played a significant role in advancing the UAE’s green agenda while emphasising the importance of energy transition to expedite economic growth and achieve environmental objectives.
He has been instrumental in spearheading the country’s green economy initiative since his reappointment as Special Envoy in November 2020, a position he previously held from 2010 to 2016. Al Jaber’s notable contributions extend to being the first CEO appointed as a president for a climate summit, signalling his commitment to promoting an ecologically sustainable society through projects he has overseen in both the public and private sectors.
A key aspect of his mission, during two separate terms as the Special Envoy for Climate Change since 2010, has been to fulfil the UAE’s pledge of achieving Net Zero carbon emissions by 2050 following the 2015 Paris Agreement. Notably, the UAE was the first Middle Eastern nation to take a substantial stride towards climate action in a global context.
At COP28, Al Jaber played a central role in guiding a global climate agenda in alignment with the UAE’s dedication to sustainable development. His responsibilities encompassed collaborating with international governments, key stakeholders, and civil society to chart a roadmap that would facilitate practical solutions, bringing lasting socioeconomic advantages to the global sphere.
Leadership roles
Al Jaber has devoted his career to public service, displaying increased activity since his appointment to the UAE Federal Cabinet in 2013, where he held the position of Minister of State until July 2020.
Utilising his extensive experience in both private and public sectors, he worked on overseeing, developing, and fostering partnerships with other nations to bolster the UAE’s economic growth. Subsequently, Al Jaber assumed the role of Minister of Industry and Advanced Technology in the same year.
In his current ministerial capacity, Al Jaber is directing his efforts towards expanding the industrial development infrastructure of the UAE to drive economic growth through technological advancements. To elevate the UAE’s global competitiveness, he is actively promoting economic diversification and facilitating the integration of diverse sectors to strengthen the country’s industrial framework. The ministry is implementing strategic initiatives to support this vision, including collaborating with industry experts, and establishing an ecosystem to assist SMEs in catalysing economic expansion.
Focus on renewables
Al Jaber has dedicated more than a decade to laying the foundation for the UAE’s green agenda during his tenure as the CEO of the Energy platform at Mubadala, the Abu Dhabi government’s strategic investment arm. In 2006, just two years into his role, he played a crucial role in establishing Masdar, an Abu Dhabi-based future energy company renowned for its emphasis on clean energy and sustainable development.
Serving as CEO of Masdar for seven years, Al Jaber oversaw the implementation of large-scale renewable energy projects globally, with a particular focus on initiatives in Abu Dhabi. One of the standout projects under his leadership is Masdar City, distinguished by its low-carbon, low-waste design that integrates innovative and sustainable urban planning techniques.
In 2009, Al Jaber led Masdar’s efforts in securing the UAE’s bid to host the headquarters of the International Renewable Energy Agency (IRENA) in Abu Dhabi. The same year, he was appointed by UN Secretary-General Ban Ki-moon to the UN Secretary-General’s Advisory Group on Energy and Climate Change (AGECC), contributing to the formation of the Sustainable Energy for All (SE4ALL) programme. This initiative aims to achieve affordable, reliable, sustainable, and modern energy for all by 2030. Currently serving as the chairman of Masdar, Al Jaber continues to guide the company in advancing the UAE’s sustainable initiatives.
Nurturing sustainability
Al Jaber’s initiatives showcase his dedication to advancing sustainability and shaping the future of the energy sector both globally and within the UAE. Through the establishment of the Zayed Sustainability Prize and his transformative leadership at both Masdar and ADNOC, he has made significant contributions towards promoting environmental responsibility, supporting sustainable development, and driving innovation in the energy industry.
The Zayed Sustainability Prize stands as a testament to Al Jaber’s commitment to recognising and nurturing ground-breaking solutions that address critical issues such as climate change, energy access, and water scarcity.
At Masdar, Al Jaber’s pioneering efforts have not only set a high standard for sustainable urban development through projects like Masdar City but have also positioned the company as a leader in the renewable energy sector. His involvement in initiatives such as hosting the headquarters of IRENA in Abu Dhabi underscores his commitment to advancing renewable energy on a global scale and promoting international collaboration in addressing climate change.
As the Group CEO of ADNOC, Al Jaber has driven a strategic transformation that focuses on operational efficiency, innovation, and sustainability. By championing initiatives such as the expansion of CCUS programmes and investing in cutting-edge technologies like artificial intelligence and blockchain, he is spearheading ADNOC’s evolution towards a more sustainable and technologically advanced energy company. His commitment to decarbonisation, including ambitious targets to reduce carbon intensity and achieve net zero emissions, demonstrates a forward-thinking approach that aligns with global efforts to combat climate change.
Name: Syed Basar Shueb
Designation: CEO and Board Member
Company: IHC
Industry: Investment
In his current role since July 2019, Shueb has played a vital role in expanding IHC’s strategic investments across various industry sectors, using his leadership and vision to drive the company’s continuous innovation, operational synergies, and cost efficiencies.
Highly respected for his local knowledge and business acumen, Shueb brings over two decades of extensive experience in sectors such as manufacturing, construction, financial services, and investments. Beginning his career as a computer engineering graduate at the Royal Group in 1998, he swiftly climbed the ranks to become the CEO of PAL Technology within three years where he oversaw rapid business growth and expansion.
Under Shueb’s leadership, PAL Group achieved notable successes, including establishing one of the UAE’s largest fish and integrated shrimp farms spanning over 100 hectares and developing five major housing projects across the nation. He also spearheaded the creation of Pal District Cooling, a key player in the UAE’s market with seven plants servicing major Residential and Office Tower precincts in Abu Dhabi.
Additionally, he led the development of Pal Robotics and introduced the Reem Series, one of the world’s earliest bi-ped humanoid units. Apart from his role as a board director at IHC, Shueb is also involved with Tamouh, Reem Finance, the Minton Spring Water Company in the UK, K-TIG in Australia, Chimera Investments, Chimera Capital, AgiLight, Inc in the US, and Macquarie Capital Middle East.
About IHC
Established in 1998 as part of an initiative to diversify non-oil business sectors within the UAE, IHC has grown to become the most valuable listed holding company in the Middle East, with a market capitalisation of $238bn as of December 31, 2023. Emphasising sustainability, innovation, and economic diversification, IHC has solidified its position as one of the region’s largest conglomerates and a constituent of the FTSE ADX 15 Index (FADX 15), representing the top 15 companies on the Abu Dhabi Securities Exchange.
IHC’s primary objective is to enhance its portfolio through strategic acquisitions, investments, and business mergers. With over 600 subsidiaries and a workforce exceeding 150,000 employees, IHC aims to broaden its interests across sectors such as asset management, healthcare, real estate, and construction, marine and dredging, it and communications, financial services, food production and service, utilities, as well as services.
In February 2024, IHC introduced a ground-breaking initiative by creating a new board observer position for an ‘Artificial Intelligence (AI) Observer’ named ‘Aiden Insight’. This virtual entity with advanced AI capabilities is aimed at revolutionising how IHC navigates the complexities of the global investment landscape. This innovative step, powered by the leading AI capabilities of G42 in partnership with Microsoft, is expected to bring numerous benefits to the IHC Board, including improved decision-making through enhanced data analysis, strategic readiness for emerging trends and technologies, as well as the promotion of a culture of innovation.
Name: Talal Al Ajmi
Designation: Founder and CEO
Company: Development Holding Company (DH Company)
Industry: Finance
Al Ajmi is a dynamic Kuwaiti entrepreneur renowned for his expertise in financial markets and trading, solidifying his status as a prominent figure in Kuwait and the wider Middle East. While holding a bachelor’s degree in Information Technology from the University of Philadelphia, his true passion and vision lie in entrepreneurship and business leadership. Recognised within the business community as a strategic visionary, his entrepreneurial ethos is characterised by a relentless pursuit of success and a commitment to empowering others to achieve significant milestones.
At the helm of DH Holding, Al Ajmi leads with a transformative vision, merging astute analysis with strategic planning to shape future trajectories effectively. Embracing change and challenging norms, he advocates for adaptability and greatness. With an unwavering dedication to innovation, Al Ajmi drives expansion and unearths new opportunities, fuelling an environment primed for boundless success.
His commitment to growth and innovation stems from a belief in the transformative impact of strategic investments, aiming to create a landscape where diversification and financial planning enable individuals to excel and reach success.
In the business world, Al Ajmi emerges as a visionary force driven by a greater purpose and a relentless pursuit of excellence. His entrepreneurial spirit is fuelled by a deep-rooted desire to redefine success and empower others to achieve remarkable heights.
With DH Holding, his unwavering commitment to innovation and growth is rooted in a profound belief in the power of strategic investments. He aspires to create a world where individuals can embrace diversification and financial planning, unlocking their true potential and experiencing the exhilaration of reaching new pinnacles of success.
About Development Holding (DH) Company
DH places a strong emphasis on transparency, providing clients with in-depth insights into their investments through comprehensive metrics. The firm is deeply committed to research and development, with a specific focus on AI and data analytics to inform strategic decision-making. The integration of advanced technology and client feedback is pivotal to DH’s strategic planning approach.
As the visionary leader guiding the company, Al Ajmi advocates for a culture of continuous learning among team members, offering opportunities for professional growth and development. DH’s business philosophy is rooted in principles of social responsibility and sustainability, which form the core of the company’s values.
DH remains steadfast in prioritising growth, transparency, and client satisfaction, committed to fostering innovation and delivering outstanding outcomes. Positioned as a transformative entity in a world ripe with possibilities, DH’s ethos revolves around integrity, growth, and innovation, propelling the company towards significant success.
By championing innovation, challenging boundaries, embracing adaptability, fostering a culture of continuous learning, and upholding social responsibility, DH navigates the evolving business landscape with resilience. Looking towards the future, the company is gearing up for substantial investments, providing clients with profit-sharing opportunities.
Name: Talal Al Dhiyebi
Designation: Group CEO
Company: Aldar Properties
Industry: Real Estate
With a solid background in asset management and a wide range of real estate sectors, such as mixed-use, retail, residential, commercial, education, and infrastructure large-scale developments, Al Dhiyebi has previously held various key senior positions within the group. This includes roles as the chief development officer and executive director of Asset Management, among others.
Before assuming his current position, Al Dhiyebi played crucial leadership roles within the company since its merger in 2013 with Sorouh. Behind the successful completion of significant projects like Ferrari World and Yas World in Abu Dhabi, Aldar is considered the largest real estate development and asset management company in Abu Dhabi.
Additionally, as the vice-chairman of Aldar Education, Al Dhiyebi serves as chairman on multiple boards, including Aldar Estates, SODIC, Aldar Education, Aldar Investments, Abu Dhabi Motorsports Management, Abu Dhabi Housing Authority, Abu Dhabi Chamber of Commerce & Industry, and more.
About Aldar
Since 2005, the company has been shaping Abu Dhabi’s urban framework with key projects that include Yas Island’s F1 circuit and Gate Towers in Shams Abu Dhabi on Al Reem Island. Aldar announced the launch of the first-of-its-kind holistic health and wellbeing residential development in the UAE in March 2023. Located in Saadiyat Grove, ‘The Source’ will feature 204 penthouses and apartments, with design elements inspired by holistic health and wellbeing. Unique offerings for residents will include premium fitness facilities, wearables, meditation rooms, and sleep applications.
On 18 April 2024, Aldar Properties (Aldar) unveiled a collaboration with Siemens to transform Saadiyat Grove, an integrated mixed-use project in the cultural heart of Abu Dhabi, into a prominent global model of smart urban living. The partnership was formalised at the World Future Energy Summit (WFES) in Abu Dhabi.
By leveraging the Siemens Xcelerator portfolio and its cloud-based Building X platform, Aldar is set to implement the UAE’s inaugural cloud-based smart district management system throughout the entirety of the Saadiyat Grove community. This initiative marks the most substantial global investment in smart technology within a mixed-use residential and commercial real estate development to date.
The comprehensive system will incorporate advanced energy analytics to facilitate emission reductions aligning with Aldar’s Net Zero Plan, while promoting sustainable living with tailored experiences for residents that prioritise their well-being. IoT sensors will monitor air quality and noise levels, complemented by AI technologies ensuring cutting-edge safety, security, and predictive maintenance.
These innovative solutions will be integrated into an advanced analytics application adaptable across Aldar’s portfolio, encompassing both new and existing developments. This scalability will ensure consistent quality and operational standards, centralised monitoring, and secure data management throughout the portfolio. It constitutes a key element of Aldar’s broader commitment to an advanced technology infrastructure ecosystem that delivers superior customer service, enhanced operational efficiency, and more sustainable solutions.
Name: Talal Moafaq Al Gaddah
Designation: CEO
Company: MAG Lifestyle Development
Industry: Real Estate
With a wealth of experience and a drive for innovation, Talal Al Gaddah stands out as a pioneering figure in the real estate sector. As the visionary behind MAG Lifestyle Development, he has overseen a multitude of ground-breaking projects that have transformed the landscape of the UAE. From iconic residential towers to visionary mixed-use developments, his portfolio showcases a steadfast commitment to excellence and a dedication to creating spaces that inspire, elevate, and revitalise communities. Al Gaddah’s current real estate portfolio exceeds $4bn, encompassing 14 completed projects and 7 projects currently in progress.
In 2022, marking a landmark year, Al Gaddah introduced the Keturah brand, a cutting-edge concept that embodies luxury intertwined with wellness principles. This pioneering endeavour underscores his exceptional talent for blending luxury with sustainability, positioning the Keturah brand as a frontrunner in shaping future global developments. Subsequently, his forward-thinking approach has propelled the Keturah brand beyond traditional real estate boundaries, promoting a lifestyle centred on innovation, exceptional quality, and holistic well-being. This marks a significant shift in the industry towards creating communities that serve as bastions of sustainable and enriching living environments.
As a visionary leader driving transformative innovation in real estate, Al Gaddah embodies a commitment to excellence, sustainability, and community well-being. His visionary outlook transcends conventional boundaries, driving forward a future where innovation and sustainability converge seamlessly in real estate development.
Keturah made its debut at The Ritz-Carlton Residences, Dubai, Creekside with Keturah Resort, the inaugural development in the region to actively pursue a WELL Health-Safety Rating certification. Shortly thereafter, Keturah Reserve was introduced, marking another first in the Middle East with its innovative ‘Bio Living’ concept, providing residents with an immersive experience in landscaped nature to enhance their physical, mental, and emotional well-being significantly.
Positioned as a game-changer in luxury real estate, Keturah seamlessly integrates extravagance with well-being to deliver unparalleled living experiences. Under the leadership of Al Gaddah, Keturah transcends traditional norms by offering transformative environments that prioritise holistic wellness, sustainability, as well as community cohesion. From the distinguished Keturah Resort to the innovative Keturah Reserve, each project epitomises excellence and sets new benchmarks for luxury living not only in the UAE but also on a global scale.
About MAG Lifestyle Development
Boasting a 40-year legacy, MAG Group stands as one of the largest corporations in the region, maintaining a prominent leadership position in various sectors including real estate, contracting, engineering, industrial and commercial trading, freight services, and hospitality. MAG Lifestyle Development, the group’s real estate subsidiary, includes a portfolio which encompasses a diverse range of initiatives, from pioneering luxurious projects to introducing wellness-focused living concepts in the UAE and beyond.
Name: Talal Said Marhoon Al Mamari
Designation: CEO
Company: Omantel
Industry: Telecoms
Al Mamari has an extensive background with Omantel, having served the organisation for over two decades before assuming his current role in June 2014. Before this position, he held various leadership roles within the organisation, including his most recent role as Omantel’s chief financial officer. He played a key role in several significant projects during his tenure, such as leading the Omantel team in the acquisition of a 21.9 percent stake in the Zain Group. He also oversaw the restructuring of Omantel by consolidating its mobile and fixed operations and successfully facilitated the legal merger of Oman Mobile with Omantel.
In his efforts to create value for shareholders and drive Omantel towards achieving its growth plans, Al Mamari also serves on the boards of the Al Amal Fund, the Zain Group, and the Oman Corporate Governance & Sustainability Centre.
About Omantel
With telecommunications leveraging digital innovation at the core of strategies to meet the requirements of the future, through its subsidiary company Oman Data Park, Omantel strives towards enabling large corporates and enterprises to migrate to the cloud. They are doing this by designing cost-effective solutions that streamline customers’ operations without compromising data security. In April 2023, a five-year contract was signed between Omantel and Bank Dhofar to provide the bank with a wide suite of data centre offerings, ranging from co-location and connectivity solutions to bespoke hybrid solutions followed by steps for workload migration into cloudification.
In alignment with Oman Vision 2040, on 3 April 2024, Omantel and Asyad Group, a global integrated logistics provider in Oman, announced a collaborative partnership to introduce an innovative accelerator programme aimed at empowering local tech start-ups within the logistics industry. The formal signing ceremony represented a significant milestone in Oman’s tech and logistics sectors.
The Asyad-Omantel Accelerator Programme has been meticulously crafted to provide comprehensive support to Omani tech start-ups, encompassing mentorship, training, networking opportunities, and fundraising assistance. Spanning over six months, the programme specifically targets promising start-ups with innovative technologies that contribute to the enhancement of Oman’s logistics landscape, with a strategic focus on supply chain optimisation, cold chain enhancement, and sustainable logistics solutions.
Operating from the Omantel Innovation Labs, participants in the Asyad-Omantel Accelerator Programme stand to gain a host of benefits, including access to mentorship from industry experts, specialised training sessions, potential investment prospects, and a dedicated learning platform. Additionally, start-ups will have the opportunity to engage in collaborative discussions and knowledge-sharing within the dynamic community of the Omantel Innovation Labs, while also exploring Asyad’s integrated logistics ecosystem.
Name: Wafik Ben Mansour
Designation: Acting CEO
Company: SHUAA Capital
Industry: Investment
Formerly a managing director at Credit Suisse for 15 years, Mansour joined SHUAA in May 2023 to lead the company’s advisory and capital markets platform, serving institutional clients across the MENA region. In his role, he works closely with the board and management team to charter a new course for the company that prioritises excellent client service, sustainable growth and shareholder value while enhancing balance sheet efficiency.
With a strategic focus on creating a growth platform and seizing market opportunities in the UAE and beyond, under Mansour’s direction, SHUAA Capital is poised to achieve new levels of excellence and innovation, driving sustainable growth and delivering value to its stakeholders.
About SHUAA Capital
In the realm of asset management and investment banking, SHUAA Capital has emerged as a frontrunner known for its remarkable track record and innovative investment strategies. With a distinctive, global product portfolio emphasising public and private markets, debt instruments, and real estate, SHUAA Capital has carved its niche in the industry as a trailblazer in the field.
The asset management segment, recognised as one of the largest in the region, oversees real estate funds, investment portfolios, and funds in regional equities, fixed income, and credit markets. Providing tailored investment solutions to clients, the firm places a significant emphasis on crafting alternative investment strategies to meet diverse client requirements effectively.
Furthermore, the investment banking arm of SHUAA Capital specialises in delivering corporate finance advisory, transaction services, private placements, and orchestrating public offerings of equity and debt securities. Additionally, the firm plays a crucial role in fostering market liquidity through trading activities in over-the-counter (OTC) fixed income products, all while abiding by the regulatory oversight of the Securities and Commodities Authority.
In an update from February 2024, SHUAA Capital shared its preliminary financial results for the full year ending on 31 December 2023, providing valuable insights into the company’s performance during a transformative period. The report unveiled impressive achievements, with SHUAA recording full-year revenues of $45 million, representing a remarkable 34 percent growth on a pro forma basis compared to the previous year.
This substantial revenue increase was complemented by an adjusted net operating income of $6.5 million, indicating a significant surge of 128 percent year-on-year. One of the notable accomplishments highlighted in the financial results is the 11 percent reduction in the cost-to-income ratio, demonstrating SHUAA’s commitment to efficiency and optimisation in its operations.
The robust financial performance outlined in the report reflects SHUAA Capital’s strategic focus on capital optimisation, growth, and seizing market opportunities under the leadership of Mansour. As the company navigates through a dynamic and competitive landscape, these results affirm SHUAA’s resilience and success in achieving its objectives and enhancing shareholder value.
Name: Waleed Al Mogbel
Designation: Managing director, CEO, and Board Member
Company: Al Rajhi Bank
Industry: Banking
With experience spanning over 24 years in the financial and banking sector, Al Mogbel has demonstrated multifaceted expertise in areas such as auditing, tax, financial management, as well as strategic consultation. His robust career at Al Rajhi Bank has been marked by noteworthy achievements and leadership roles, reflecting his strategic acumen and operational excellence.
Having assumed key executive positions within the organisation, Al Mogbel’s career trajectory includes serving as the chief financial officer in 2010, where he oversaw financial planning and performance management to drive sustainable growth. Subsequently, his tenure as the chief operations and information technology officer in 2014 positioned him at the crossroads of operational efficiency and technological innovation, spearheading transformative initiatives to enhance the bank’s digital capabilities. He was subsequently appointed in 2019 as the deputy CEO by the bank.
Throughout his tenure, he has been instrumental in leading and executing numerous transformational projects that have propelled Al Rajhi Bank towards new heights of success and competitiveness in the dynamic financial industry. Beyond his responsibilities at Al Rajhi Bank, Al Mogbel extends his leadership impact by serving as a board member at Al Rajhi Takaful, contributing his insights to drive strategic decisions in the insurance sector. Additionally, his role as the chairman of Emkan Finance and Neoleap reflects his commitment to fostering innovation and growth in diverse financial domains.
About Al Rajhi Bank
With a wealth of experience spanning over 60 years in banking and trading activities, the individual entities operating under the Al Rajhi name were consolidated into the overarching entity Al Rajhi Trading and Exchange Corporation in 1978.
Subsequently, in 1988, the establishment transitioned into a Saudi joint stock company known as Al Rajhi Banking and Investment Corporation, eventually rebranded as Al Rajhi Bank. Firmly rooted in Islamic banking principles and values, Al Rajhi Bank, headquartered in Riyadh, stands as a beacon, harmonising modern financial requirements with Sharia compliance.
As of December 2023, Al Rajhi Bank has been diligently serving a vast clientele exceeding 15.8 million active customers through its extensive network of 545 branches, operating not only within KSA but extending its reach beyond. The bank’s workforce comprises 20,878 dedicated individuals committed to upholding its mission. Diversifying its financial offerings, in April 2023, Al Rajhi Bank took a significant stride by issuing its inaugural US dollar Sukuk, unveiling a $1bn five-year sustainable Sukuk. The bank closed the year with total assets valued at $215.5bn and recorded a notable net profit of $4.4bn.
In a strategic move in March 2023, PIF’s Saudi Real Estate Refinance Company partnered with Al Rajhi Bank to refinance a substantial real estate financing portfolio surpassing $1.3bn. Building on its commitment to innovation, in March 2024, Al Rajhi Bank aligned with the Buna platform to enhance its payment solutions, marking a progressive step forward in its service capabilities.
Name: Sheikh Waleed Khamis Al Hashar
Designation: CEO
Company: Bank Muscat
Industry: Banking
In 2004, Hashar embarked on his professional journey with Bank Muscat and was appointed to his current role in 2019. With an impressive career spanning over three decades in the realms of banking, as well as the oil and gas industries, he brings a wealth of expertise and insights to his role.
Prior to his tenure at Bank Muscat, he held key senior positions at major organisations such as Petroleum Development Oman and HSBC Bank Middle East. His extensive background in leadership roles within these sectors underscores his vast knowledge and strategic acumen, positioning him as a seasoned professional adept at navigating the complexities of the financial and energy landscapes.
His educational background includes a postgraduate diploma in General Management from the Harvard Business School, further solidifying his leadership prowess. Additionally, he holds a Bachelor of Science degree and a Master of Business Administration from California State University in Sacramento, USA.
Al Hashar’s dynamic combination of hands-on experience in the banking and energy sectors, coupled with his strong academic foundation, positions him as a seasoned leader with a comprehensive understanding of diverse industries and a strategic vision to navigate the complexities of the financial landscape.
About Bank Muscat
Bank Muscat, recognised as the leading financial institution in Oman, boasts a comprehensive network comprising over 180 branches and service centres strategically positioned throughout the sultanate. Complementing this expansive infrastructure are over 850 ATMs, CDMs, and multi-use machines, serving as convenient touchpoints for customers across various locations.
With a strong emphasis on accessibility and innovative financial inclusion solutions, the Bank has solidified its position as the preferred banking partner for more than 2.5 million customers in the country. Through its robust grid and commitment to enhancing financial services accessibility, Bank Muscat stands at the forefront of empowering and serving a vast and diverse customer base in Oman.
With a strong presence in corporate banking, personal banking, investment banking, Islamic banking, treasury, private banking and asset management, the bank has the largest network of branches and electronic channels in Oman, as well as branches in KSA, Kuwait and representative offices in Dubai, Iran, and Singapore.
In March 2024, Bank Muscat continues to implement its strategic plan to expand its branch network across the country, aiming to provide the best banking services to customers. In the same context, the bank celebrated the inauguration of a new branch in Seeb, Maabelah South, Muscat Governorate, under the patronage of Sheikh Al Mutasim bin Abdullah Al Siyabi, Deputy Wali of Seeb, in presence of several the Bank’s executive management members.
On 15 April 2024, Bank Muscat unveiled its preliminary unaudited financial results for the three-month period ending on 31 March 2024. During this timeframe, the bank reported a net profit of $141m, marking a notable increase of 5.7 percent compared to the corresponding period in 2023, where it stood at $133m.
Name: Walid Hanna
Designation: Founder and CEO
Company: Middle East VenturePartners (MEVP)
Industry: Investment
Hanna stands at the forefront of Middle East Venture Partners (MEVP), a prominent and highly active venture capital firm within the MENA region. With over 18 years of extensive experience, Hanna has steered the direction of more than 50 venture capital investments under his guidance. MEVP currently stands as a leading venture capital firm with a sharp focus on technology investments in the MENA region, across key locations including Dubai, Beirut, Cairo, Riyadh, Bahrain, and Abu Dhabi.
In May 2017, MEVP witnessed a significant milestone with the acquisition of a non-controlling stake by UAE businessman Mohamed Alabbar, further solidifying its position in the market. Prior to establishing MEVP, Hanna held the position of CEO at Dubai International Capital’s venture division, the Arab Business Angels Network (ABAN). His professional journey has also seen him contribute to the investment management team at Abraaj Capital, adding valuable insights to his portfolio.
Hanna’s expertise extends beyond mere investment oversight, as he has actively co-founded, invested in, and led numerous key startups across various industries within the MENA region, with a notable emphasis on technology-driven ventures. From 2001 to 2006, he served as the managing partner of Orange Investment Holding, based in Beirut, Lebanon, paving the way for strategic investments and impactful ventures. In Lebanon specifically, Hanna has played key roles in the founding, investment, and leadership of multiple innovative startups spanning diverse industries such as technology, consumer finance, and hospitality.
About MEVP
MEVP is a renowned venture capital firm with a strong 12-year track record, having invested in 60 technology startups across various tech sectors. Focused on the Middle East, MEVP specialises in investing in innovative technology companies during their early and growth stages. The firm’s portfolio includes well-known entities such as Anghami, The Luxury Closet, and Wego, consolidating an impressive asset under management (AUM) exceeding $300m across four distinct funds.
In October 2023, Zest Equity, a technology company specialising in digital infrastructure for private market transactions, successfully concluded a $3.8m seed round spearheaded by MEVP. Additionally, the round saw involvement from the Dubai Future District Fund (DFDF) and DASH Ventures, further bolstering support for Zest Equity’s expansion and development plans within the MENA market.
On 8 January 2024, Clinicy, an advanced healthcare technology start-up based in KSA, achieved a significant milestone by successfully securing a substantial seven-figure Series A funding round. MEVP led the funding initiative in collaboration with Gate Capital, with additional participation from existing stakeholders namely Kafou Group and Fadeed Investment.
Name: Yasser Abdul Malak
Designation: Chairman and CEO
Company: Nestle MENA
Industry: Industry
Appointed to his current role on 1 January 2022, Abdul Malak has over two decades of experience with Nestlé where he has held multiple senior leadership positions across key regions. Previously, he was appointed in the role of CEO in Nestlé Turkey from April 2021 to January 2022 where he delivered robust results and helmed expansion projects that led to the company’s growth in the country.
Over the years, he has held several leadership positions at Nestlé, including the CEO for Nestlé’s Northeast Africa region based in Egypt until he was assigned the role of Dairy Category Head Zone Europe Middle East & North Africa in 2018 at the Nestlé headquarters in Vevey, Switzerland.
Abdul Malak embarked on his career trajectory with Nestlé in KSA in 1999. Following his first assignment, he moved to their regional head office to helm the MAGGI business as the senior brand manager until mid-2003. This was followed by an appointment as the global marketing advisor for the food business in Switzerland. In 2005, he was promoted to lead the food business in the Southeast Africa region. Three years later, he returned to the Middle East as the business executive officer food prior to his assignment as the country manager.
About Nestlé MENA
Nestlé, a Swiss company with a heritage spanning more than 150 years, has had a presence in the MENA region for over a century, beginning with the sale of the first infant cereals in Egypt. The company’s portfolio in the region comprises more than 60 innovative product brands across various categories, including dairy, infant nutrition, coffee, creamers, confectionery, bottled water, breakfast cereals, and pet food.
Nestlé’s regional office for the MENA region is located in Dubai South, with operations across the UAE in cities such as Dubai, Abu Dhabi, Al Ain, Fujairah, and Ras Al Khaimah. Nestlé locally produces confectionery, dairy, culinary, and coffee at two food and beverage factories in Dubai, along with operating two water manufacturing sites, one in Dubai and the other in Abu Dhabi.
Nestlé Middle East has shown commitment to sustainability by achieving a 52 percent reduction in greenhouse gas emissions and a 35 percent decrease in energy consumption since 2010 across its 24 manufacturing sites in the MENA region dedicated to food, beverage, and water production. Moreover, the company is swiftly progressing towards embracing renewable energy on a larger scale, with 25 percent of its MENA sites now powered by renewable sources.
Since 2008, gender balance has been a priority for Nestlé, driving an increase in the number of women at all levels in the organisation. Nestlé’s global and local initiatives on gender diversity include development opportunities through mentoring and coaching programs, a flexible and supportive work environment, role model events, round tables, and network discussions, leadership development training, unconscious bias workshops, and the Maternity Protection Policy.
Name: Zaid S. Al Khayyat
Designation: Managing Director
Company: Al Khayyat Investments (AKI)
Industry: Investment
Al Khayyat Investments’ Chairman Dr. Saad F. Al Khayyat laid the foundation of AKI’s
legacy in 1982 with an unwavering commitment to making a difference. This foundation grew into the powerhouse and impact-driven business that it is today. AKI continues to be a leading family business in the region. Guided by the leadership of Zaid S. Al Khayyat, AKI propels forward, cultivating growth with a dedication to innovation and meaningful impact within every industry and community it touches.
AKI’s operations now span nine countries including the UAE, KSA, Qatar, Bahrain, Kuwait, Oman, Egypt, Jordan, and Iraq. AKI works across a diverse portfolio of businesses, partnerships, and home-grown brands across every part of people’s lives to bring them the things that matter. This includes offering premium products and services in retail, healthcare, consumer goods, fitness, fashion, lifestyle, contracting, and automotive.
“At the heart of AKI’s success lies its focus on core values, embedded in a people-first philosophy,” says Al Khayyat. “This people-centric approach has not only fuelled the company’s growth but also creates a work environment where everyone is supported, appreciated, and respected.” As a result, AKI was named one of the top 25 Best Workplaces in UAE™️ last year by Great Place to Work® Middle East.
Elevating impact in the region
Many of the world’s most valuable brands trust AKI to nurture and elevate their business in MENA, growing their market potential and deepening engagement with their consumers. Over the last year, AKI has continued to do this while expanding its impact across the region. This has involved the continued expansion of its home-grown brands BinSina Pharmacy and Befit across the region, and in AKI Retail, expansion into KSA.
In the pharmaceutical realm, AKI Pharma has tripled its brand partnerships in the last five years, emerging as a top healthcare partner in the region. Furthermore, AKI continues to invest in its Iraq operations, covering healthcare and FMCG sectors. Meanwhile, AKI Consumer Goods (food and non-food) has ranked among the top three largest UAE FMCG partners. AKI’s Gulf Contracting and Landscaping (GCL) business continues to emerge as an industry leader nationwide in contracting services.
Always aiming for the exceptional
“We hold ourselves to high standards. We aim high, do more, and deliver beyond the expected,” Al Khayyat says. In particular, the executive is adamant about embracing the power of new technologies within AKI.
For example, later this year AKI will officially unveil a state-of-the-art fulfilment centre in the UAE that will further solidify AKI’s position within the market, ensuring swifter and more efficient distribution capabilities for its partners and customers, while giving AKI the ability to triple its current capacity.
Looking ahead, Al Khayyat notes: “We share the region’s spirit, energy, and optimism for what is possible today and tomorrow, playing our role in helping to drive a more sustainable environment and support long-term economic growth wherever we operate.”
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