The Middle East, a region known for its rich history and diverse culture, has also become a hub for business and innovation. In recent years, numerous companies have risen to prominence, earning recognition and admiration for their contributions to the local and global economy.
The 50 Most Admired Companies in the Middle East is an annual list that showcases these exceptional organisations, highlighting their success stories and the impact they have on the region.
One of the key factors that contribute to a company’s inclusion in this prestigious list is its commitment to excellence. These companies consistently demonstrate exceptional performance, setting high standards for their respective industries. They prioritise innovation, adaptability, and customer satisfaction, ensuring they remain at the forefront of their fields.
The Middle East is a region with diverse economies, from oil-rich nations to emerging markets. The companies that make it to this list often play a vital role in driving economic growth and stability. Their investments in various sectors, such as technology, healthcare, energy, and finance, create jobs and stimulate economic development. Moreover, their success inspires other businesses to strive for excellence, contributing to a competitive and dynamic business environment.
In addition to economic contributions, these admired companies are often leaders in corporate social responsibility (CSR). They recognise the importance of giving back to their communities and addressing societal challenges. Many of them are involved in philanthropic initiatives, environmental conservation, and supporting education and healthcare programmes. Their commitment to CSR not only enhances their reputation but also contributes to the overall well-being of the region.
Middle East’s admired companies
Furthermore, the 50 Most Admired Companies in the Middle East list reflects the region’s increasing openness to innovation and technology. Many of these companies are pioneers in adopting digital transformation, artificial intelligence, and other cutting-edge technologies. They leverage these advancements to improve efficiency, enhance customer experiences, and stay competitive on a global scale.
In conclusion, the 50 Most Admired Companies in the Middle East represents a diverse group of organisations that have achieved excellence in various industries. These companies not only drive economic growth and innovation but also prioritise corporate social responsibility and community development.
Their success stories serve as inspirations for aspiring entrepreneurs and business leaders, and their continued commitment to excellence ensures that the Middle East remains a vibrant and dynamic region for business and innovation.
Technology
Company: Mastercard
Country: UAE
As division president, Khalid Elgibali is responsible for helming Mastercard’s dynamic business across the Middle East and North Africa. In this role, he steers the formation of new partnerships, drives growth and innovation to meet market-specific needs, and delivers on Mastercard’s continued commitment to investing in the region.
By spearheading the expansion of revenue streams and cultivating strategic alliances across the public and private sectors, Elgibali is actively pursuing the goals of advancing financial inclusion and fostering payments innovation through Mastercard’s multi-rail strategy.
Since joining the company in 2016, Elgibali has contributed to bolstering its position as a technology leader and trusted payments advisor to governments, enabling the successful execution of national-level programmes that support their long-term visions and digital agendas.
Mastercard’s recent key achievements
The past year witnessed several milestones in Mastercard’s dynamic partnerships and passion for innovation. The latest is the opening of Mastercard’s Global Centre for Advanced AI and Cyber Technology in Dubai, a joint project with the UAE Government that aims to enhance AI capabilities and readiness in the region.
Building on the success of a series of Digital Country Partnerships across three continents, the company also launched the world’s first Digital City Partnership with Dubai. The initiative leverages Mastercard’s multi-rail payments network and data-driven digital commerce technology to address key priorities of the Dubai Economic Agenda.
In Egypt, Mastercard has collaborated with the Central Bank of Egypt and the Egyptian Banks Company to support the implementation of card tokenisation regulations by providing the required infrastructure to all issuing banks across the country. It is also working with the Administrative Capital for Urban Development to build efficient digital infrastructure that will enable the New Administrative Capital to become the first cashless Egyptian city.
Within the transportation industry, the technology leader joined forces with the Greater Amman Municipality and Network International to introduce Jordan’s first transit payment ecosystem, powered by Mastercard Payment Gateway Services.
In the realm of e-sports and gaming, Mastercard is driving innovation through augmented reality experiences, NFTs, and loyalty solutions for fans in collaboration with Saudi Esports Federation. It is also sponsoring Gamers8, the largest gaming and esports festival in the world that takes place annually in Saudi Arabia.
To support fintech innovation, the company partnered with Bahrain-based Infinios Financial Services to launch the first Mastercard Wholesale Programme in the region, aimed at digitising B2B payments between travel buyers and suppliers.
In addition, Mastercard is leveraging partnerships and cutting-edge technology to foster a more sustainable future, as demonstrated by its efforts to engage its entire ecosystem in initiatives that promote the adoption of climate- and environment-friendly practices.
As part of its goal to empower consumers to choose a sustainable future, the company is championing payment cards produced from 100 percent recycled plastics. In a first move for a payment network, all of Mastercard’s newly produced plastic payment cards will be made from more sustainable materials from 1 January 2028.
The company also founded the Priceless Planet Coalition, an ambitious endeavour that unifies corporate sustainability efforts to combat the global climate crisis by restoring 100 million trees over the next five years. The initiative has garnered over 100 members worldwide, united by the shared belief in Mastercard’s philosophy of doing well by doing good.
Company: VI Markets
Country: Kuwait
Talal Al Ajmi, a Kuwaiti entrepreneur, is the founder and CEO of VI Markets. With a passion for financial markets and trading, he’s become a notable figure in Kuwait and the broader Middle East. His journey began during university when he managed family businesses, and upon returning to Kuwait, he embarked on a career in investment. Gaining experience in financial companies, he eventually transitioned to entrepreneurship as a financial broker.
In 2010, he founded VI Markets in Kuwait, currently serving as the CEO and a board member at One Financial Markets, VI Markets’ main partner. VI Markets collaborates with One Financial Markets, a London-based entity established in 2007, to offer tailored online trading services to Kuwaiti investors. Regulated by the UK’s Financial Conduct Authority (FCA), One Financial Markets operates globally with local expertise through its offices across multiple regions.
Steered by a goal to promote sustainable development through education, he established VI Markets with a focus to educate the people in Kuwait who are interested in trading and then let them start their own journey by managing their portfolios. Social media played a unique role in attracting both new and experienced traders in Kuwait and the Middle East.
He shared daily trades and offered educational content, strengthening his connection with the audience, and bolstering his success. Driven by the belief that education unlocks potential, he sought to empower women in the region who aspired to enter financial markets. Thus, he founded Yasmeen, an exclusive women’s forum providing tailored educational services, personal support, training, and trading solutions.
About VI Markets
Since its 2010 inception, VI Markets has emerged as a prominent Kuwait-based trading platform catering to both private and institutional investors offering a wide range of financial instruments and features to suit traders of all levels. VI Markets has collaborated with AxiTrader, a prominent name in the trading industry, in partnership known as ‘axi-vi’ that aims to transform online trading in the MENA region.
Under this exclusive agreement, VI Markets takes responsibility for Axi’s products and services in the region, providing investors with access to advanced technology and multiple trading options, including forex, CFDs on indices, commodities, energies, bonds, and futures. VI Markets and AxiTrader lead the trading industry with innovation and exceptional customer support backed by global customer service teams that provide 24/5 multilingual support.
They offer a wide range of trading instruments, including major and exotic forex pairs like USD/SGD and USD/ZAR, along with commodities, indices, energy products, gold/silver futures, and CFDs. VI Markets offers interest-free accounts complying with Sharia and Islamic finance principles.
Education is central to their philosophy, providing free training seminars and courses for all levels, covering topics like CFD trading, forex, technical analysis, risk management, and trading psychology. These resources are available to both account and non-account holders, with versatile trading platforms accessible on laptops and mobile devices, prioritising accessibility and flexibility.
Company: e&
Country: UAE
Group CEO of Etisalat by e&, Hatem Dowidar assumed leadership at Etisalat Group, now known as e&, where he began his journey as the group chief operating officer in September 2015. He swiftly ascended through the ranks and was subsequently appointed to his current role in March 2016. His influence extends to the boards of subsidiaries in diverse countries, including significant markets such as Morocco, and Egypt.
With a diverse background, Dowidar’s professional career kicked off at AEG/Deutsche Aerospace (Daimler Benz Group) in Egypt. He then transitioned to a marketing role at Procter & Gamble. Notably, his association with Vodafone Egypt began in 1999 when he joined as the CMO, eventually rising to the position of CEO from 2009 to 2014.
Throughout his career, he has held various leadership positions within Vodafone Group and its subsidiaries, including roles such as group core services director, CEO of Vodafone Malta, CEO of Partner Markets with partnerships spanning over 45 markets, and regional director Emerging Markets.
Currently, Dowidar serves as a board member in prominent entities, including Etihad Etisalat Company (Mobily), Maroc Telecom, Etisalat Misr (Etisalat Egypt), and Abu Dhabi Chamber of Commerce & Industry.
His past affiliations include GSMA (Global System for Mobile Communications), Etisalat Nigeria, Attijariwafa Bank Egypt, Barclays, and Vodacom Africa. Furthermore, his inclusion in the Internet Governance Forum (IGF) Leadership Panel since September 2022 underscores his industry stature.
About Etisalat by e&
Etisalat by e& operates in 16 countries across Middle East, Asia, and Africa boasting 164 million customers telecommunications experiences every day. With 47 years of experience, the telecommunications company started over four decades ago in the UAE as the country’s first telecoms company. Their offerings go beyond telecommunications, extending into areas such as gaming, health, and insurance.
In September 2023, the Dubai Chamber of Commerce, one of the three chambers operating under the Dubai Chambers umbrella, hosted a webinar with the aim of introducing SMEs to uTap, a newly launched digital payment solution by Etisalat by e&. uTap offers a variety of cost-effective hardware options, including point-of-sale payment terminals, barcode scanners, and cash drawers, along with a range of managed services such as third-party integration, maintenance, and repairs.
uTap presents three budget-friendly packages aimed to empower businesses by granting them convenient access to seamless digital payment solutions, efficient point-of-sale terminals, comprehensive order management systems, and robust automation tools. These packages are thoughtfully designed to offer businesses cost-effective payment acceptance solutions, starting as low as AED 50 per month.
In a recent development, Etisalat by e& announced the successful completion of its 400G@ Super C+L transport network trial, a significant milestone in enhancing network capacity and efficiency. The Super C+L solution tested by Etisalat by e& in collaboration with Huawei demonstrates the capability to support up to 12THz of spectrum resources, a significant improvement compared to the traditional extended C-band solution, which supports only 4.8THz of spectrum resources.
Company: Lectera
Country: UAE
Mila Smart Semeshkina is a distinguished figure across multiple realms including EdTech, women’s empowerment, and personal growth. She currently serves as the CEO and founder of Lectera.com, as well as helms the Women’s Empowerment Council (WEC). Her multifaceted career encompasses diverse roles, including that of a venture investor, innovator in online education, and an established blogger.
Contributions to academia
Semeshkina’s career trajectory is punctuated by her contributions to academia as evidenced through her authorship of numerous scientific publications and research studies in the domain of media economics.
Furthermore, she is well experienced as a lecturer and researcher at prestigious educational institutions, where her insights and expertise have left an indelible mark. With a forward-thinking approach and an unwavering commitment to innovation, she continues to shape the landscape of education, empowerment, and personal development.
Backed by a wealth of experience
With a career that commenced at the young age of 18, Semeshkina ventured into the dynamic fields of marketing and public relations, amassing a wealth of experience spanning well over a decade. Her professional journey has been nothing short of remarkable, marked by her adept promotion of numerous high-profile international brands on the global stage.
As a testament to her exceptional leadership abilities, she has successfully overseen and guided international teams, boasting a collective strength of over 1,000 skilled professionals. Her proficiency extends to the creation of impactful marketing communications, a talent she has skillfully employed in executing significant projects across diverse regions, including Switzerland, Germany, the UAE, and CIS countries.
This extensive and far-reaching exposure has honed her expertise in the art of launching and nurturing large-scale international startups, transforming them into thriving and highly profitable ventures.
Her role as an entrepreneur
In 2017, Semeshkina shifted her focus towards the realm of entrepreneurship and bespoke consulting services, primarily catering to major global enterprises. Her consultancy offerings are meticulously crafted to address the intricacies of marketing and strategic brand development, providing clients with invaluable insights and guidance in navigating the ever-evolving business landscape.
As a dedicated entrepreneur, Semeshkina has immersed herself in the establishment and expansion of Lectera.com, an international educational platform that has garnered global recognition. She has assembled a globally distributed team of experts hailing from 35 different countries to collaboratively drive this visionary initiative.
In her leadership role, she assumes a central role in steering various aspects of the project, including product development, brand enhancement, educational content curation, and overseeing the comprehensive operations of the Lectera Group.
A keen supporter of inclusivity and equality
She is also recognised for her philanthropic endeavours as illustrated by her establishment of the Women’s Empowerment Council (WEC) in 2021. This organisation is dedicated to amplifying women role models and fostering women’s empowerment. Anchored in Dubai, this community encompasses over 30,000 women.
The Women’s Empowerment Convention organised by the WEC is considered a key event in the MENA region, and as one of the world’s best women’s conferences, embodies Semeshkina’s vision. As a female founder at both Lectera and WEC, she takes immense pride in being an organisation that was established by a woman and they have made considerable efforts at ensuring that a significant number of senior managerial positions are held by women.
Also in 2023, Lectera took a significant step forward by offering select courses, particularly those centred on entrepreneurship and female leadership, free of charge to all WEC members. This collaboration empowers women by providing access to a diverse array of online courses spanning women entrepreneurship, business development, and personal growth. The partnership represents Lectera.com’s commitment to making quality education accessible to all, regardless of gender or background.
About Lectera.com
There is a simple and powerful idea behind Lectera.com which is education that is fast, convenient, and fun. At the core of Lectera.com’s educational approach lies the innovative Fast Education method, designed to deliver rapid and tangible professional growth. The origins of this method trace back to Semeshkina’s university thesis in social studies, where she grappled with the challenge of content that became obsolete too swiftly.
Lectera.com has made its mark from offices located in Dubai, UAE and Miami, USA since its global launch in June 2020. Offering a diverse selection of more than 350 courses, each comprising compact yet informative 15-20-minute video lessons, the platform supports learning in five languages: Russian, English, German, Spanish, and Hindi.
An ambitious expansion plan is in the works, aiming to introduce an additional 15 languages by the close of 2023. With a widespread presence extending across the globe, from India and Pakistan to Nigeria and the Philippines, Lectera.com effectively connects with a diverse and extensive student body which underscores the platform’s status as a prominent global educational institution, driven by a commitment to accessible, multilingual learning.
The Fast Education method
Since its launch in June 2020, Lectera.com has steadily attracted a diverse user base, boasting more than 3,000,000 users hailing from 60 countries. This remarkable global reach underscores the platform’s effectiveness and appeal.
A striking testament to the efficacy of the Fast Education method employed by Lectera.com is the impressive 86 percent course completion rate. Such high rates of engagement affirm the method’s ability to facilitate effective and efficient learning. Furthermore, the company achieved profitability within its very first year of operation, validating the sustainability of its approach.
As part of its evolving growth strategy, Lectera.com introduced Lectera Corp. in September 2020. This venture focuses on corporate training and seamlessly integrates Lectera’s dynamic classrooms into the Learning Management Systems of various companies. Recognising the unique needs of teenage learners, Lectera.com launched Lectera Teens, a tailored offering featuring concise courses designed to capture the attention of students with shorter attention spans and varying motivation levels.
Retail
Company: Alshaya Group
Country: Kuwait
Mohammed Alshaya, executive chairman of Alshaya Group, the driving force behind the Kuwaiti family-owned enterprise Alshaya Group, has played an instrumental role in steering the company’s evolution, fostering its progression, and overseeing its expansion.
His journey within the organisation began in 1990 when he assumed the role of CEO, later ascending to the position of executive chairman in 2007. Today, under his leadership, the group boasts a mega portfolio of over 70 international brands, firmly establishing itself as a prominent franchise operator across the Middle East, Africa, Europe, and Russia.
A diverse and expansive portfolio
At the core of Alshaya Group’s success lies its vast and diverse portfolio, spanning continents and encompassing multiple sectors. With operations extending through Europe, the MENA region, and Turkey, the group’s endeavours include health and beauty, pharmacy, food, fashion, home furnishings, leisure, entertainment, local coffee shops, drive-thrus, and restaurants.
This expansive collection of brands includes iconic names such as 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, KidZania, and many more. Alshaya leverages his expertise and insights as a board member for the Arab Thought Foundation, contributing to this intellectual platform that explores critical issues facing the Arab world.
Furthermore, his leadership extends into real estate development, where he holds the position of chairman of the Board of Directors at Mabanee, a key player in Kuwait’s real estate landscape of which the Alshaya family has a 34.1 percent ownership stake.
Alshaya is a respected member of the Supreme Council of Education for the State of Kuwait, where he plays a pivotal role in shaping the nation’s educational landscape. Additionally, his role on the international business advisory council for London underscores his global perspective and commitment to fostering strong international business ties.
Moreover, his involvement in the supreme council of planning and development reflects his dedication to the long-term vision and sustainable growth of Kuwait. Through these roles, he actively contributes his insights, expertise, and strategic thinking to shape the trajectory of Kuwait’s development in multiple crucial domains.
On 24 July 2023, Alshaya Group unveiled a transformative initiative known as ‘Make Your Moment.’ With the goal of attracting and retaining skilled Saudi men and women in the realm of retail, Alshaya Group has collaborated closely with the Human Resources Development Fund (HRDF) within KSA. This visionary initiative aligns with the aspirations of Saudi Vision 2030, a national plan aimed at equipping Saudi citizens with the necessary skills and expertise to thrive within the private sector.
The ‘Make Your Moment’ initiative reflects Alshaya Group’s commitment to investing in Saudi youth, empowering them with the opportunities and resources needed to excel in the competitive world of retail. Notably, the company has succeeded in attracting approximately 4,000 Saudi women to contribute to the workforce within Alshaya Group’s diverse brands, making a significant impact on the economic landscape and fostering a culture of inclusion and growth.
Company: Majid Al Futtaim
Country: UAE
Ahmed Galal Ismail was appointed in the role of CEO of Majid Al Futtaim Holding in January 2023. Prior to this, he held the role of the CEO of Majid Al Futtaim Properties in 2018 and under his visionary leadership, the group’s hotels, project management operations, malls, and communities reached new heights.
Ismail’s professional journey began in Cairo, Egypt, and later Frankfurt, Germany, at Procter & Gamble. There, as a project manager, he honed his skills in managing complex initiatives and fostering an environment of innovation. Transitioning to Dubai, he embraced roles spanning media, tourism, retail, and transportation sectors at prestigious Booz Allen Hamilton.
In 2007, Ismail joined Majid Al Futtaim (MAF) and redefined the direction of the conglomerate. As CEO of MAF Ventures, the investment arm of MAF Holding, he led a team of over 3,000 employees, overseeing operations across eight MENA region countries. During his decade-long tenure, the MAF Ventures portfolio underwent significant enhancements. Transformative entities like Ski Dubai, Najm Cards, and VOX Cinemas were introduced, gaining substantial recognition.
Ismail’s influence extended globally as he introduced acclaimed fashion brands like Jane Norman, Abercrombie & Fitch, Hoss Intropia, and more to the company’s portfolio. His talent for strategic planning and vision for opportunities earned him an invitation to join the board of Endeavor, a renowned non-profit organisation dedicated to fostering high-impact entrepreneurship worldwide.
About MAF
A leading pioneer in shopping malls, communities, retail, and leisure across the MEA region, MAF is a prominent Dubai-based private sector company and the largest mall operator in the Middle East. MAF recently reported impressive financial results, driven by the robust economic performance of its home market in the UAE.
During the six-month period ending in June, the company recorded a substantial year-on-year increase in net profit, with figures soaring by 74 percent to reach $463m. As a key player in the region’s retail and mall operation sectors, MAF owns and operates 29 shopping malls situated across various regions, including the UAE, Egypt, Bahrain, Lebanon, and Oman.
Among its extensive portfolio are properties such as Mall of the Emirates, Mall of Egypt, Mall of Oman, City Centre malls, My City Centre neighbourhood centres, and five joint venture community malls established in partnership with the government of Sharjah.
On the 7 September 2023, MAF announced the opening of Launchpad X, an innovative concept store that serves as a platform for local start-ups and entrepreneurs, including winners from MAF’s Launchpad Accelerator Programme, which was launched in 2022 as an initiative dedicated to nurturing entrepreneurship, fostering creativity, and facilitating growth for SMEs.
Situated within City Centre Mirdif, this unique store offers these emerging businesses a platform to connect with customers and tap into the unparalleled go-to-market opportunities provided by MAF shopping malls. MAF’s Launchpad Accelerator Programme is dedicated to elevating startups and SMEs in the MENA region across strategic categories.
Company: Landmark Group
Country: UAE
For more than three decades, chairwoman of Landmark Group, Renuka Jagtiani, has been at the helm of Landmark Group’s corporate strategy, propelling the company to emerge as the foremost omnichannel retailer of trusted and locally established brands in the MENA region. Her visionary leadership has played a pivotal role in shaping the group’s journey, including the founding of the high-street fashion brand Splash in 1993. Moreover, she facilitated the group’s seamless entry into the realm of e-commerce over a decade ago.
In her current role, Jagtiani is dedicated to nurturing the group’s vision, shaping its strategy, and exploring emerging business opportunities. She collaborates closely with leadership teams and contributes her invaluable insights to shape the strategic decisions that guide the group’s direction.
Landmark Group, founded by her husband, Micky Jagtiani, in 1973 with a single store in Bahrain, has profoundly reshaped Dubai’s retail landscape under Renuka Jagtiani’s leadership. Today, it boasts an extensive network of over 2,200 retail establishments across the MENA region.
In 1993, she catalysed the creation of the high-street fashion brand, Splash, which quickly gained prominence under her leadership. Her visionary approach led the group to explore e-commerce and invest in the MENA region’s largest privately-owned logistics and distribution hub.
Moreover, the group’s philanthropic efforts reach beyond borders, with collaborations involving the Jagtiani Foundation and The LIFE Foundation. These partnerships extend to well-established local non-profit organizations in India, including Apnalaya, Jan Sahas, Oscar Foundation, and SAVE. Through these impactful partnerships, the group addresses critical issues such as the rights of textile and garment workers and the eradication of child labour.
About Landmark Group
Landmark Group has established itself as a global powerhouse with a vast network of more than 2,200 outlets spanning across 21 countries. The conglomerate boasts a diverse portfolio of brands, including Centrepoint, Babyshop, Splash, Lifestyle, Max, Home Centre, Shoemart, and Emax.
While maintaining a robust presence across the GCC region, Landmark Group has strategically honed its focus on the UAE and KSA. The group’s commitment to these markets underscores its dedication to harnessing the immense potential they hold, as it continues to shape the retail landscape in the region.
Landmark Group is set to increase its solar power capacity by 25 percent, allowing it to offset 2,485 metric tonnes of carbon dioxide (CO2) emissions annually through an extended agreement with SirajPower.
The company plans to expand its total capacity to 10.4 megawatt peak (MWp) by adding additional solar panels on rooftops and carport locations, including Oasis Mall in Dubai, Sharjah, and sites in Al Quoz and Jebel Ali Free Zone (JAFZA).
The installation of these new panels, in collaboration with UAE solar company SirajPower, is expected to be commissioned by the end of 2023. This expansion will position Landmark Group as one of the largest solar-powered retailers in the region, generating 17.4 gigawatt hours (GWh) of annual green energy production across eight UAE locations.
Company: Chalhoub Group
Country: UAE
Patrick Chalhoub is the CEO of Chalhoub Group, a luxury retail distribution company with its roots tracing back to 1955 that has now become a prominent player in the Middle East luxury market. The company’s journey began in Syria but later relocated its operations to Beirut, Lebanon followed by the group’s final move to the UAE in 1990.
Patrick Chalhoub, a key figure in the family business, played a pivotal role in developing a regional distribution platform within the Jebel Ali Free Zone. By 2001, he was appointed as co-CEO alongside his brother.
About Chalhoub Group
With a heritage spanning over six decades, the Chalhoub Group has been a driving force in delivering luxury experiences throughout the Middle East. As a hybrid retailer committed to excellence, the group has strengthened its distribution and marketing services by curating a portfolio of eight proprietary brands and representing over 300 international brands in the domains of luxury, beauty, fashion, and art de vivre.
Notably, the group’s domain of expertise has expanded to include luxury watches, jewellery, and eyewear. Whether through constant reinvention or innovative endeavours, the group aims to craft luxury experiences across over 750 experiential retail outlets, online platforms, and mobile apps, all with the goal of delighting customers.
Presently, the Chalhoub Group comprises 14,000 professionals spanning seven countries, achieving recognition as the third-ranked Great Place to Work® in the Middle East and holding the top position in KSA. With a global footprint, the group operates through multiple channels, including mobile apps, online platforms, and its hundreds of brick-and-mortar stores.
In the recently launched Dubai Hills Mall, the group has established over 10 stores. Under Chalhoub’s guidance, the Chalhoub Group has engaged in exclusive collaborations with several renowned brands, such as Sephora and Dior Couture, alongside the launch of fully owned concept stores, including the Level Shoe District in Dubai Mall.
The group is firmly aligned with the UN Sustainable Development Goals, and as a board member of the UN Global Compact, Chalhoub has played an instrumental role in guiding the business towards upholding the principles of environmental protection and labour rights as outlined by the UNGC.
Additionally, the group has championed innovation through the establishment of ‘The Greenhouse,’ an innovative hub that nurtures and accelerates regional and international start-ups and small businesses. The group is also a signatory of the Women’s Empowerment Principles, further solidifying its role in advancing sustainable practices.
In April 2023, Chalhoub Group signed an MoU with King Abdulaziz University in KSA, aiming to cultivate a pool of skilled graduates who can actively contribute to the growth and expansion of the fashion sector.
This partnership aligns with Chalhoub Group’s objectives of enhancing youth employability and fostering career opportunities in KSA. It involves providing sector-specific workshops and mentorship training to enhance skills and promote career advancement within the fashion industry, reflecting the group’s commitment to supporting the professional growth of youth in KSA.
Company: Adil Trading
Country: UAE
Dr. Dhananjay Datar, a self-made entrepreneur, has forged a distinctive path in the retail sector as the chairman and managing director of Adil Trading.
His formative years were shaped by a humble upbringing in rural India, an experience that instilled in him enduring values of self-reliance and unwavering diligence. His professional journey began in 1984 when he started as an intern at his father’s small grocery shop in Dubai.
Through honesty, tireless dedication, and sheer determination, he transformed this modest establishment into the globally acclaimed business conglomerate now known as Adil. Over the past 36 years, Datar’s unwavering dedication has ensured the delivery of authentic, hygienic, and safe Indian food products to customers throughout the GCC region.
In 2001, the UAE rulers honoured Datar with the title Masala King for his remarkable contributions to the business sector. He is also a dedicated philanthropist and in 2021, played a key role in launching the Rickshaw Ambulance initiative, deploying 25 auto-rickshaw ambulances equipped with medical supplies to transport critically ill Covid-19 patients in Pune, India.
A household name for Indian products
Adil Trading operates 50 large superstores in the GCC region, two modern spice factories, two advanced flour mills, and an Indian import-export arm. In 2006, Adil Trading achieved certifications like ISO 22000, HACCP, GMP, and GHP, highlighting its dedication to quality. Under the visionary leadership of Datar, the company has played a pivotal role in introducing over 9,000 Indian products to the UAE market.
Furthermore, the company produces a diverse range of more than 700 products, including ready-made flours, spices, pickles, jams, Namkeen, and instant food items, all branded under Peacock.
Today, Adil Trading has achieved the status of a household name in the UAE. Its success secret lies in its deep understanding of the expatriate Indian community, as it has mastered the art of sourcing the right products for its customers at precisely the right time. Whether it’s a favourite brand, a special pickle or papad, or even the most exotic herbs and spices, Adil Trading delivers them with precision.
The company has gone a step further by establishing a manufacturing unit in Dubai’s Al Quoz industrial area. Here, it produces a wide array of Indian food products, including masalas, spices, pickles, flours, pulses, and more, all under the trusted Peacock brand name.
The company operates an Indian subsidiary, Masala King Exports in Mumbai, India. This subsidiary stands as one of the leading exporters of top-quality branded Indian pulses, spices, groceries, and non-food items in the Indian subcontinent. Demonstrating a forward-thinking vision and strategy, the company has overhauled its e-commerce portal, placing great importance on online sales through an upgraded gateway. This strategic move aims to facilitate the introduction of a rewards programme.
banking
Company: Standard Chartered
Country: UAE
Sunil Kaushal, the CEO of Standard Chartered Africa, and Middle East (AME), currently serves as a member of Standard Chartered’s Global Management team, the highest executive body within the bank. Prior to this role, he held the position of the regional CEO of Standard Chartered South Asia and CEO India, demonstrating his leadership and expertise in the financial sector.
With a career spanning nearly 25 years within the Standard Chartered Group, Kaushal boasts more than 35 years of banking experience across diverse markets, including North Asia, Southeast Asia, South Asia, the Middle East, and Africa. Throughout his journey, he has occupied senior roles encompassing wholesale, retail, SME banking, and country management.
Notable positions in his career include head of Corporate Banking in the UAE, head of Originations and client coverage in Singapore, global head of Small and Medium Enterprises and New Ventures in Singapore, and the CEO of Standard Chartered Bank, Taiwan.
One of his significant achievements has been spearheading the digital transformation of Standard Chartered in the AME region. Under his leadership, the bank successfully launched digital banks in nine key markets across Africa, marking a significant step towards modernising the banking experience.
About Standard Chartered
Standard Chartered is a leading international banking group, with a presence in 59 of the world’s most dynamic markets and serving clients in a further 64. The bank’s purpose is to drive commerce and prosperity through its unique diversity and its heritage and values are expressed in its brand promise, #here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
In 2023, the bank maintained its momentum with robust first-half results. Operating income stood at $1.44bn, marking a 34 percent increase on a constant currency basis. In the UAE and the Middle East cluster, the bank achieved their highest half-yearly operating profit since 2015, reaching $653m, a substantial 39 percent rise on a constant currency basis, driven by strong income momentum.
Notable achievements include securing the inaugural sustainability-linked loan with Landmark Group, launching the first Sustainable Receivables Financing Facility with ECI and Siemens, and issuing Qatar’s premier Green Guarantee in collaboration with Siemens. Standard Chartered’s dominance in the region’s bond and Sukuk markets is evident, as they topped the AME league tables and led MENA G3 issuance for the fifth consecutive year.
Furthermore, Standard Chartered’s venture in KSA has yielded remarkable results, with over 140 percent growth in CCIB cross-border income during the first half of 2023. In Egypt, the bank is poised to establish its presence later this year, further contributing to its strategic expansion in the region.
In May 2023, Standard Chartered signed an MoU with DIFC to collaborate on digital assets, including digital asset custody. Subject to regulatory approval, the bank plans to launch digital asset custody services.
Company: Mashreq
Country: UAE
Abdul Aziz Abdulla Al Ghurair currently holds the distinguished positions of the chairman at Al Ghurair Investment (AGI) and the chairman of the board of directors at Mashreq. His professional journey has been marked by multiple achievements, with a notable tenure as the CEO of Mashreq for nearly three decades. Under his visionary leadership, Mashreq evolved from a small local bank into a customer-centric financial institution celebrated for its innovative products and services, significantly impacting the region’s financial landscape.
In addition to his pivotal roles at AGI and Mashreq, Al Ghurair is a valued member of the board of directors at Abdullah Al Ghurair Group of Companies. This conglomerate stands as one of the UAE and the Middle East’s largest and most successful business groups, with a diverse portfolio spanning operations in over 20 countries, and a business legacy that extends back half a century.
Throughout his illustrious career, he has held leadership positions on the boards of key organisations, including Mastercard, Visa International, Dubai Investments, Emaar, and the Dubai Chamber of Commerce and Industry. His influence extends to the global stage, as evidenced by his role as a co-chair of the Arab Business Council-World Economic Forum (WEF), reflecting his significant impact on the world of economics.
Beyond his professional commitments, Al Ghurair is deeply dedicated to advancing knowledge and education. He serves as a board member of trustees at New York University in the United States, exemplifying his commitment to supporting academic excellence and global learning initiatives.
His contributions to the Consultative GCC Council for the GCC Leaders and his noteworthy role as the president of The Knowledge Fund further underscore his unwavering dedication to driving progress and growth across multiple spheres.
About Mashreq Bank
Founded in 1967 in Dubai, Mashreq is the UAE’s oldest bank, with a history spanning over five decades. Today, it has a significant global presence with offices in Europe, Asia, Africa, and the US, along with a substantial presence in major financial hubs worldwide.
Over the years, Mashreq has introduced pioneering financial services, from foreign trade offerings to being the first UAE bank to install ATMs, issue debit and credit cards, and provide consumer loans. It also led the way by offering chip-based credit cards and digital point-of-sale readers in the UAE. Additionally, the bank has diversified its product range, including the launch of an investment fund linked to the Indian stock market.
Mashreq’s digital banking platform, Neo, has collaborated with Federal Bank to simplify the process of opening Rupee accounts for Indians in the UAE, a unique initiative. The bank has also introduced a bank-to-bank integrated digital journey for Mashreq Neo customers to open NRI accounts.
With a digital license secured in Pakistan and expanding operations in Egypt, Mashreq places a strong emphasis on sustainability, especially as the UAE prepares to host COP28, emphasising the nation’s commitment to environmental and social responsibility.
Company: Arab Bank
Country: Jordan
In February 2022, Randa Sadik assumed her current position as CEO of Arab Bank, marking the culmination of a career spanning over three decades in the banking industry. Her career trajectory is punctuated by a tenure of over a decade as Deputy CEO at Arab Bank, Jordan’s largest financial institution.
Additionally, she has served in diverse leadership roles for more than two decades, including a prominent position as the group general manager of the International Banking Group at the National Bank of Kuwait. Her strategic acumen has played a pivotal role in steering Arab Bank’s expansion and growth.
Her impact extends beyond Arab Bank, as she also serves as a valued board member of Oman Arab Bank. She chairs the board of Arab Tunisian Bank, leads the management committee of Al Arabi Investment Group, and holds the position of vice chairman at Arab Bank Australia Ltd.
Under Sadik’s leadership, Arab Bank has actively engaged in social initiatives that underscore its commitment to community development. Their partnership with Dar Abu Abdullah in the Women’s Economic Empowerment project, dedicated to empowering women by facilitating their enrolment in programmes designed to provide income stability and enhance their overall living standards.
About Arab Bank
Arab Bank boasts one of the largest global Arab banking networks with over 600 branches spanning five continents and provides a wide range of financial products and services for individuals, corporations, and other financial institutions.
The bank’s products and services cover consumer banking, corporate and institutional banking, and treasury services. Arab Bank’s extensive network covers key financial markets and centres such as London, Dubai, Singapore, Shanghai, Geneva, Paris, Frankfurt, Sydney and Bahrain.
Arab Bank has recently introduced the Visa Arabi Switch digital card in collaboration with Visa, marking a significant milestone for both the bank and its customers. This innovative card represents a pioneering solution, not only in Jordan but also in the broader region.
The Visa Arabi Switch digital card seamlessly consolidates both Arab Bank credit and debit cards into a single, unified card. With this card, customers can effortlessly link their Arab Bank accounts, bridging the gap between Jordan and international locations through the Arabi Cross Border programme.
This programme extends its reach to encompass the UAE, Lebanon, Bahrain, Qatar, Egypt, and Palestine. The Visa Arabi Switch digital card offers a range of features, including a digital screen with interactive arrows that make switching between debit and credit cards easy. Card details are displayed on the screen, ensuring ease of use.
Moreover, it includes a dedicated button for quick access to customer care numbers and supports contactless transactions at ATMs and points of sale, enhancing convenience and security.
In terms of financial performance, Arab Bank, as Jordan’s largest lender, reported robust results for the first half of 2023. Notably, the bank achieved an increase of 59 percent in net profit after tax, reaching $401m compared to $252m for the same period in the previous year.
Company: GFH Financial
Country: Bahrain
Hisham Alrayes, group CEO of GFH Financial Group is leading GFH towards its vision of becoming the region’s most prominent and diversified financial group. Since joining GFH in 2007 and assuming its leadership in 2011, Alrayes has been a driving force in the group’s transformation.
He has spearheaded its growth, establishing GFH as a platform for investment management, commercial banking, treasury, and proprietary investment services. He steers the development and execution of the group’s global investment strategy, which has seen it build a portfolio of managed assets reaching $19bn across the MENA region, UK, Europe, and USA.
Alrayes currently chairs and holds several directorships in financial, industrial, and real estate companies in Bahrain and the GCC, including Esterad Investment Company (Bahrain), Khaleeji Bank B.S.C. (Bahrain), GFH Capital (KSA), GFH Partners (DIFC), GBCORP (Bahrain), and Infracorp (Bahrain).
About GFH
GFH Financial Group BSC (GFH) is a leading and dynamic financial group in the GCC region, with a diversified offering and pioneering track record. GFH is listed on four stock exchanges in the GCC, including the Bahrain Bourse, Boursa Kuwait, Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX).
Their approach to Islamic investment banking services has been recognised on the global stage over the past two decades. Transforming from an investment bank into a leading regional financial group, over the years, GFH has expanded to include investment management, commercial banking, real estate development, and treasury and proprietary investments.
GFH Financial Group is actively pursuing its global expansion strategy through various strategic investments. In 2022, the group made a significant move by acquiring a substantial portfolio of medical clinics in the US, valued at $400m. This acquisition expanded GFH’s real estate portfolio in the largest economy globally.
In January 2023, GFH’s sustainable infrastructure platform, Infracorp, co-invested in Aurora Infrastructure, a monopoly electricity distribution network operating in Finland. This strategic partnership was established in collaboration with infrastructure asset manager Equitix, further strengthening GFH’s presence in the infrastructure investment sector.
Earlier this year, GFH also acquired a majority stake in Big Sky Asset Management, a US-based real estate asset manager specialising in defensive healthcare properties. This strategic move aligns with GFH’s focus on stable and recession-resistant sectors such as healthcare. These investments demonstrate GFH Financial Group’s commitment to diversification and growth as it continues to expand its global investment footprint and seize opportunities in various sectors.
In Q2 2023, the group posted a net profit attributable to shareholders of $30.61m, marking a 32.74 percent increase from $23.06 m in the same quarter of 2022. This growth reflects the group’s sustained progress. Key drivers of this performance included income from global and regional investments, as well as contributions from the commercial banking business and treasury activities. Total income for Q2 2023 reached $86.83m, a significant rise of 54.7 percent compared to $56.11m in the same period of 2022.
Company: QNB
Country: Qatar
Abdulla Al Khalifa, the Group CEO of QNB, has been a stalwart of the banking industry, amassing a diverse career spanning more than two decades. His journey within the QNB banking group has seen him undertake various pivotal roles, including chief business officer and executive general manager.
Notably, since 2018, he has served as a board member for Ooredoo, a prominent multinational telecommunications company based in Qatar. His wealth of experience encompasses risk management, finance, business development, mergers and acquisitions, sales, and marketing, as well as strategic planning.
Al Khalifa’s association with QNB began in March 1996, and his contributions have been instrumental in the bank’s growth and success. In 2007, he assumed the role of the general manager for QNB’s Corporate Banking Group. His leadership also extends to QNB Capital, where he holds the position of chairman. QNB Capital is a market leader in Qatar, specialising in investment banking services and financial advisory.
Established in 2008, it boasts headquarters in Doha and European offices in Paris and London. QNB’s status as the most valuable banking brand in the MEA region is a testament to its prominence, as recognised by the Brand Finance Global survey. Under Al Khalifa’s visionary leadership, QNB’s sponsorship of the 2022 FIFA World Cup in Qatar provided an opportunity for the bank to garner substantial exposure among millions of viewers worldwide who tuned in during the month-long event.
About QNB
Established in 1964, QNB remains unwavering in its commitment to investing in innovative solutions that simplify banking processes and offer customers the flexibility and convenience demanded in today’s fast-paced world.
As the largest bank in Qatar, with 51.93 percent ownership by the Qatar Investment Authority, the QNB Group has a significant international presence, operating in more than 28 countries across three continents. The group is supported by a dedicated team of 29,000 employees, serving customers from over 900 locations and 4,900 ATMs.
In the financial realm, QNB Group reported a net profit of $2.1bn for the six months ending on 30 June 2023, marking an eight percent increase compared to the same period in the previous year.
QNB’s commitment to digital innovation is evident in the unveiling of its new internet and mobile banking platforms in March 2023. These platforms deliver a seamless digital banking experience, leveraging various technologies to provide innovative and unified banking services across smartphones, tablets, and laptops.
In early 2023, QNB introduced a cutting-edge biometric payment acceptance solution for its merchants in Qatar. This innovative solution is based on proprietary facial verification technology developed by PopID, supported by Visa via tokenisation, and provisioned through QNB’s acceptance network.
Furthermore, QNB Group collaborated with NCR, a global leader in transformation technologies, to launch a state-of-the-art self-service machine in Qatar. Located in the QNB Place Vendome Mall branch, this machine offers a wide range of services, including cash withdrawals, cheque deposits, chequebook printing, card printing, and video teller support.
Real Estate
Company: Danube
Country: UAE
Rizwan Sajan, founder and chairman of Danube Group, is a prominent Indian entrepreneur whose visionary has steering the upward trajectory of Danube, a significant conglomerate in the Middle East.
His journey commenced in the early 90s with his move to the UAE, driven by the aspiration to build his own business. That dream became a reality In 1993 with the launch of Danube Group which initially began as a small trading enterprise focused on building materials.
Pioneering the One Percent payment plan
Upon entering the real estate sector, Sajan encountered a landscape dominated by established players. Recognising the need for a distinctive approach, he identified a significant market segment that 80 to 90 percent of expatriates in Dubai preferred renting over property ownership.
He then conceived a visionary strategy aimed at converting these renters into property buyers, which he coined the one percent payment plan. This innovative concept entailed an initial down payment, followed by monthly payments set at just one percent of the property’s total cost, with the remaining balance due upon the building’s completion.
As construction progressed to the 60 percent milestone, financial institutions were increasingly willing to finance the remaining 40 percent of the property’s value, even before the formal title deed transfer. This approach streamlined the process for customers, eliminating the need for direct engagement with banks, bypassing protracted approval procedures, and mitigating uncertainties associated with fluctuating interest rates.
The one percent payment plan ultimately emerged as the foundational principle that not only defined Danube Properties but also fuelled its subsequent successes in the competitive real estate market.
Danube Properties latest project
Capitalising on robust investor demand, Danube Properties has recently launched Oceanz with a development worth surpassing $681m. Providing unobstructed views of the Arabian Gulf, Oceanz will be situated adjacent to the historic Shindagha heritage village, at Dubai Maritime City and help establish it as a new epicentre for leisure and cruise tourism.
Scheduled for completion in the first quarter of 2027, Oceanz will encompass a six-level podium housing parking spaces and community amenities, featuring 44 floors dedicated to residential properties.
This project will yield 1,250 residential units, encompassing studio apartments, 1-bedroom, 2-bedroom, and 3-bedroom apartments, along with select retail outlets. Echoing Danube’s hallmark, Oceanz will offer residents access to amenities which will include a health club, infinity swimming pools, a sports arena, tennis court, barbecue area, jogging track, on-call medical services, and onboard childcare services, among others.
Oceanz stands as the company’s premier development on the Arabian Gulf shoreline, providing residents a coveted waterfront living experience. Oceanz marks the 25th residential project by Danube Properties and is the 10th project introduced in the past 19 months, reflecting an impressive launch rate of approximately one project every two months. These achievements solidify Danube Properties’ position as one of the UAE’s fastest-growing private real estate developer.
Company: Magnom Properties
Country: Egypt
Maged Marie, a self-made entrepreneur who founded Magnom Group in 2000, boasts over two decades of experience across multiple industries in Egypt. In his current role as the CEO since August 2021, he has also held the position of CEO of Magnom Logistics for the past 22 years.
One of key accomplishments was his role in the completion of the New Suez Canal Project, which marked a significant milestone in Egypt’s infrastructure development. In 2020, Marie secured an exclusive agency agreement with Lurssen, the world’s largest German luxury yacht and naval ship designer and constructor.
This partnership aimed to boost local manufacturing and enhance Egypt’s marine industry. He also holds the exclusive agency for Jan De Nul, a Belgian dredging company boasting the world’s largest fleet of dredgers. This partnership has bolstered Magnom Group’s international presence and demonstrated Marie’s ability to establish strategic alliances with industry leaders.
Throughout his career, he has diversified his business interests by establishing companies such as Future Land, specialising in industrial security, supplies, and free zones, and Magnom Logistic, focused on logistics services, warehousing, and heavy machinery rental. In 2005, he played a role in founding Platinum Services, a port services company located at Sokhna Port, Egypt’s first private port.
Recognising the need for a more streamlined approach to his business ventures, he consolidated his companies under the Magnom Holding Group in 2019 which encompasses various sectors, including logistics, mining, construction, and more in Dubai.
Furthermore, Marie’s dedication to improving Egypt’s infrastructure led to the establishment of Egypt Ports, a company dedicated to developing and managing Egyptian ports with international standards.
About Magnom Properties
Magnom Properties is the real estate arm of Saudi conglomerate Rawabi Holding, established to oversee the development of innovative and sustainable real estate projects across KSA, Egypt, and the MENA region. Rawabi Holding, headquartered in Al Khobar, holds interests in various sectors including oil and gas, marine, industrial, contracting, and manufacturing services.
The company has plans to create multiple sustainable real estate projects across KSA, partnering with US-based Adrian Smith + Gordon Gill Architecture (AS+GG Architecture), known for their role in the Burj Khalifa in Dubai with a special focus on building energy-efficient and sustainable structures. Magnom Properties aim to minimise carbon footprint, manage water resources, and incorporate intelligence and resilience into the built environment by integrating ESG considerations into their regional projects.
Just less than one year into its inception, Magnom Properties unveiled its inaugural venture, a zero-carbon commercial tower in partnership with media giant brand Forbes. The proposed Forbes International Tower is planned for the northern central business district of Cairo’s New Administrative Capital.
It will offer 50 floors of office space along with two levels of retail establishments upon completion. Dubbed as the world’s most sustainable tower, it sets the standard for forward-looking projects and underscores Egypt’s dedication to being an ESG leader in the MENA region.
Company: Nakheel
Country: UAE
Naaman Atallah serves as the Group CEO of Nakheel, bringing nearly three decades of extensive professional experience to his role. Under his leadership, he oversees a team of over 1,200 employees, collectively striving to create innovative developments that offer exceptional residential, retail, hospitality, and leisure options to customers. He assumed his position at Nakheel in Q4 of 2020 and has played a pivotal role in elevating the company’s reputation as a global leader in master development.
As a key industry figure and strategic visionary, Atallah places a strong emphasis on customer-centricity as a foundational element for driving business excellence and growth. Among his many achievements, he successfully restructured Nakheel’s business strategy, focusing on efficient delivery and customer satisfaction. This strategic shift resulted in a significant surge in market demand and exceeded sales targets in less than a year. Moreover, he has fostered an inclusive workforce that embodies Nakheel’s core values and principles.
Prior to his tenure at Nakheel, Atallah held high-ranking leadership positions at some of the real estate industry’s most prominent companies. His previous roles include serving as the CEO of Piramal Realty in India, CEO of Dubai Properties, COO of Emaar, and COO of Qatari Diar. He has also been actively involved in various real estate industry organisations and has provided advisory insights to real estate funds’ investment committees.
Currently, he also serves as a board member of the real estate division of the Misk Foundation, dedicated to advancing Saudi youth. He earned a Bachelor of Science in Civil Engineering from the University of Texas and a Master of Business Administration (MBA) from Pepperdine University.
Steering iconic projects
Nakheel is a renowned master developer celebrated for its iconic projects that contribute significantly to Dubai’s vision. They have extended Dubai’s coastline by over 300 km through waterfront developments like Palm Jumeirah, creating seafront homes, resorts, hotels, and attractions. Spanning 15,000 hectares, Nakheel’s master communities, including Palm Jumeirah, Jumeirah Islands, and more, offer diverse destinations and facilities for Dubai’s residents and tourists.
Nakheel Community Management (NCM) is a customer-centric company delivering exceptional services to approximately 700,000 residents across 18 master communities. Nakheel also operates world-class retail destinations such as Nakheel Mall, Ibn Battuta Mall, and upcoming projects like Al Khail Avenue. Their hospitality portfolio includes luxury hotels like The St. Regis Dubai, The Palm, and family-friendly resorts. Nakheel Home Rental manages over 16,500 villas and apartments across various developments.
In September 2023, Nakheel introduced its visionary project, Palm Jebel Ali, to the market. This development follows the unveiling of a futuristic masterplan by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, earlier this year. This includes four fronds featuring Coral villas and Beach villas, each available in eight unique styles. These villa types are inspired by nature’s beauty, designed to shape the future of Palm Jebel Ali as a sought-after residential and lifestyle destination.
Company: Emaar
Country: UAE
Mohamed Alabbar is the founder and chairman of Emaar who has dedicated nearly three decades to shaping Dubai’s modern landscape. He founded Emaar in Dubai in June 1997, with a vision to contribute to the city’s transformation into a global hub.
Under his leadership, Emaar has transformed into a renowned integrated real estate developer, setting the standards for innovation, sustainability, and community living. Alabbar’s impact extends to other ventures, including Eagle Hills and Nshama, which was established in 2014 and focuses on creating technologically advanced, sustainable communities.
Beyond real estate, Alabbar’s diverse businesses span over 20 global markets, encompassing F&B, ecommerce, venture capital, logistics, hospitality, and technology. His venture, Noon Food, fosters a sustainable ecosystem for businesses and consumers and has expanded its presence in Dubai, Sharjah, as well as Abu Dhabi. Noon, his ecommerce firm, collaborates with government entities to support start-ups in Abu Dhabi and Ajman.
At the forefront of digital innovation, Alabbar introduced Zand, a ground-breaking digital corporate and retail bank. His developments have enriched communities across the MENA region, the US, Central and Eastern Europe, and South and Southeast Asia.
He is also a significant stakeholder in Middle East Venture Partners (MEVP), providing tech exposure to investors in Turkey and the broader MENA region. Additionally, Alabbar holds a stake in the globally acclaimed online fashion retailer, Yoox Net-a-Porter Group, through his Alabbar Enterprises.
Raising the bar on innovation
Emaar Properties’ robust performance reflects Dubai’s strong real estate demand. In H1 2023, Emaar reported revenues of $3.3bn, a 14 percent year-on-year growth in property sales reaching $5.5bn, and a net profit increase of 15 percent to $1.3bn. The revenue backlog stands at $17.1bn as of June 2023, ensuring sustainable growth and financial resilience.
Emaar’s recent project, The Oasis by Emaar, unveiled in June 2023, is a luxury waterfront development with a $20bn investment. It features 7,000 residential units, including mansions and villas, set amidst natural surroundings, including lakes, water canals, parks, and green spaces. This project offers an opulent lifestyle with luxurious amenities.
Emaar Properties recently revealed that its ambitious Dubai Creek Tower project, initially announced in 2016 as an observation tower surpassing the height of the Burj Khalifa skyscraper, is currently undergoing a redesign phase. Construction is set to commence next year. On completion, the Dubai Creek Tower is likely to create several major records.
Emaar Properties has a strong commitment to corporate social responsibility (CSR). Initiatives like Sandooq Al Watan aim to foster sustainable development and support low-income individuals. Beyout Al Kheir, introduced by Emaar Misr in 2018, provides housing for underprivileged families in Egypt.
In 2020, Emaar committed to embedding ESG principles into its operations, focusing on decarbonisation, climate resilience, and community support. Alabbar’s commitment to sustainability is evident in initiatives like introducing electric bikes to noon Food’s fleet in May 2023, aligning with the UAE’s goal of zero emissions by 2050.
Company: Damac
Country: UAE
Hussain Sajwani, founder, and chairman of Damac Group has swiftly risen to prominence in the Arab world, particularly within Dubai’s property market. In the mid-1990s, his visionary insight allowed him to foresee the growing demand for accommodations, driven by the influx of individuals arriving in Dubai for key business and trade engagements.
Recognising this emerging opportunity, he embarked on an ambitious venture to construct several distinguished hotels which helped to strategically position Dubai as an unparalleled hub for global business travellers.
In 2002, Sajwani made his mark by founding DAMAC Properties, which would go on to become one of the largest property development companies in the Middle East and beyond.
Having delivered over 43,700 homes with more than 30,000 currently in development, DAMAC has a presence in over 10 countries, including Dubai, Jeddah, Riyadh, Beirut, Amman, Doha, Baghdad, the Maldives, Toronto, Miami, and London. Notable projects include DAMAC Towers Nine Elms in central London, featuring iconic branding by Italian fashion house VERSACE, and the upcoming luxurious tower in Miami’s Surfside neighbourhood.
His dedication to education and social progress is exemplified through the Hussain Sajwani – DAMAC Foundation. Notably, the One Million Arab Coders initiative, part of the foundation, aims to empower one million Arabs with essential coding skills, preparing them for success in the digital era.
About DAMAC
DAMAC has ventured into the hotel management sector, overseeing eight hotel properties in collaboration with renowned brands such as Radisson, Paramount, Rotana, and DAMAC Maison. Additionally, DAMAC is developing a resort in the Maldives in partnership with the Mandarin Oriental Hotel Group. Sajwani’s commitment to excellence is reflected in DAMAC’s collaborations with prestigious lifestyle brands, resulting in opulent living concepts.
These projects feature interiors designed by key fashion houses such as Versace Home, Fendi Casa, de GRISIGONO, Cavalli, and Just Cavalli. DAMAC’s unique Paramount Hotels & Resorts brand offers luxurious serviced living experiences that bring the allure of Hollywood to hospitality. DAMAC Properties has prioritised advancing its master-planned community, DAMAC Lagoons, by awarding contracts totalling $653m in the first half of this year.
Notably, Ginco General Contracting received a prominent contract valued at $205m for the main works within the Malta cluster, comprising 1,127 villas and townhouses. DAMAC Properties has unveiled two exciting additions to its Damac Hills 2 master community in Dubai: The Farmhouses and Verona.
The Farmhouses collection offers expansive country homes within the city, featuring 13 standalone villas with spacious backyards for diverse purposes. Verona, located adjacent to the Victoria cluster, consists of rows of townhouses providing residents with a vibrant lifestyle.
DAMAC Group has ventured into the data centre industry with DAMAC Data Centres, located in Riyadh and Dammam, KSA, Turkey, and Ireland, to meet the growing demand for data centre services. Sajwani has also demonstrated his prowess in the global equity and capital markets through his private investment division, which holds portfolios of securities in various regional and global markets.
Hospitality
Company: FIVE Holdings
Country: UAE
Known for crafting five-star experiences, and pioneering sustainability within a framework of uncompromising luxury and entertainment, Kabir Mulchandani, chairman and founder of FIVE Holdings, is a dynamic and innovative visionary is considered to be a market leader and a market disruptor. He is the man behind the FIVE Hotels & Resorts in Dubai, a hotspot for millennials seeking award-winning experiential lifestyle experiences amidst Dubai’s hospitality landscape.
A real estate developer active in Dubai, FIVE Holdings was founded in 2011 as SKAI Holdings and later, its name was changed to FIVE. In 2011, he recognised the potential synergy between real estate and hospitality, leading to the establishment of FIVE Holdings.
FIVE Holdings, a real estate development and hospitality group, has earned its reputation through a portfolio of exceptional projects that have left an indelible mark on the industry. Their developments include FIVE Palm Jumeirah; FIVE Jumeirah Village; FIVE Zurich; and its latest project, Five Luxe in JBR, Dubai.
Steered by a global vision, Mulchandani has successfully expanded his local success to Europe with the opening of FIVE Zurich, a destination hotel in Zurich, Switzerland. His ambition is to further expand their presence across continental Europe, the UK, and beyond. Under his leadership, FIVE Holdings has achieved industry-leading sustainability milestones.
Notably, the company produces a surplus of power, overcoming energy needs while promoting a holistic concept of sustainability that encompasses the mind, body, and spirit. Rooted in proven concepts, he is revolutionising sustainable construction on a global scale. He is a supporter of FIVE Cares, a philanthropic initiative that includes the launch of Project Udaan, dedicated to providing life-saving heart surgeries to children in India with over 300 surgeries to date.
Transforming the concept of hospitality
Dominating Dubai’s luxury hospitality scene through high energy immersive entertainment experiences, FIVE Palm Jumeirah Dubai is a dare-to-be-different hotel that boasts 470 luxurious rooms and suites with ocean or city views. FIVE Jumeirah Village provides a chic penthouse lifestyle with 269 pools and Jacuzzi, lush green terraces, and a vibrant culinary scene as well as private pool sky villas. FIVE Zurich is a luxurious lifestyle hotel boasting 45 luxurious suites, 42 suite sized lifestyle rooms and 62 amazing rooms offering a skyline city view or mountain view.
FIVE Holding’s most recent project is FIVE LUXE, a waterfront development which will be located in the heart of JBR. This beachside community will feature luxurious hotels and residences with a total of 222 hotel rooms and 275 residential units. This destination will include seven restaurants and nightclubs that promise unforgettable dining and nightlife experiences and is anticipated to open its doors in the fourth quarter of 2023.
At the heart of FIVE is sustainability as FIVE hospitality curates luxe lifestyle experiences within smart and sustainable buildings evidenced by their solar powered water heating, lush landscaping sustained by repurposed water, local produce, biodegradable amenities, and smart controls to conserve energy.
Company: Leva
Country: UAE
JS Anand, the visionary CEO behind LEVA Hotels, founded this brand in 2019, embarking on a journey that would ultimately redefine the world of hospitality. Over the years, his leadership has propelled LEVA Hotels to new heights, spanning both domestic and international markets, including Dubai, Jeddah, Africa, and beyond, boasting a portfolio of 894 keys. The crowning jewel of this expansion is the iconic LEVA Hotel Mazaya Centre in Dubai.
Additionally, LEVA Hotels manages Resivation, a co-living property nestled in Dubai’s vibrant Al Furjan neighbourhood. With an impressive career spanning 25 years, Anand’s expertise has been honed through pivotal roles at renowned establishments such as Louvre Hotels, Marriott International, and Hilton.
Established in 2019, LEVA Hotels represents a dynamic lifestyle concept that revolutionises the very essence of hospitality. Under Anand’s visionary guidance, LEVA Hotels caters to the discerning preferences of tech-savvy adventurers, offering a cutting-edge and contemporary experience that effortlessly caters to both business and leisure travellers.
LEVA’s flagship property, LEVA Mazaya Centre in Dubai, stands as a testament to the brand’s unwavering commitment to excellence. In a mere three years since its inception, it managed to reach the prestigious top spot on TripAdvisor, a clear reflection of the brand’s dedication to surpassing guest expectations.
At the heart of LEVA’s allure is its chic dining space, expertly managed by Baker’s Kitchen, aligning perfectly with LEVA’s overarching vision of crafting a modern hotel concept tailored to the evolving preferences of today’s travellers.
A lifestyle hotel
Within KSA, LEVA Hotels has firmly established its presence through two strategic hotel management agreements, namely, EKONO by Leva Al Shati and EKONO by Leva Jeddah Airport Hotel, both poised for transformative service enhancements.
This transformation aligns harmoniously with KSA’s Vision 2030, an ambitious initiative aiming to welcome 100 million visitors by 2030. Located within an hour’s drive from Mecca, these properties offer ideal accommodations for Umrah (pilgrimage) travellers seeking convenience and comfort.
In Nigeria, LEVA Hotels assumes responsibility for overseeing the transformation and management of Reiz Continental Hotel by Leva. In partnership with Kostarget Projects LTD and under the ownership of REIZ Continental Hotels LTD, this project is poised to evolve into an upscale five-star luxury lifestyle hotel.
Uganda marks another significant milestone in LEVA Hotels’ expansion journey, with the management takeover of Kampala’s premier boutique hotel, Emin Pasha Leva Hotel.
Currently undergoing extensive renovation and infused with LEVA’s signature design aesthetics, this property aspires to become the preferred choice for both vacationers and business travellers. Ethiopia is also a prominent destination on LEVA Hotels’ expansion map, characterised by two strategic partnerships.
LEVA Afrotsion Semera Resort and the Harsade Harbour Resort by LEVA introduce hospitality experiences to the forefront. LEVA Hotels is now setting its sights on an expansion strategy that extends into untapped markets across the Middle East and Africa. Among the strategic targets for this expansion are countries such as Morocco, Egypt, Sri Lanka, KSA, and Qatar.
Company: Hilton
Country: UAE
Hilton recently revealed the appointment of Guy Hutchinson as the president for the Middle East & Africa, with his official duties commencing in early 2024. Hutchinson’s return to the Hilton family marks a significant milestone, occurring almost a decade after his previous tenure. He has earned widespread recognition as the driving force behind the success of Rotana, a prominent hospitality group based in the UAE.
With a tenure spanning nearly a decade, his journey with Rotana commenced in 2014 when he assumed the role of chief operating officer. His exceptional leadership and commitment propelled him to the position of president and CEO at the outset of 2020. Under his visionary leadership, Rotana achieved remarkable milestones, solidifying its status as a dominant player in the hospitality industry.
One of Hutchinson’s most notable achievements has been spearheading Rotana’s foray into new international markets. His strategic vision led to the group’s expansion into the UK, a significant milestone that underscores Rotana’s global ambitions.
Furthermore, Hutchinson’s leadership extends to a casino resort in Georgia, a testament to his innovative approach to diversifying the group’s offerings. He also introduced the concept of a conversion brand, Edge, within the Rotana portfolio. Backed by a wealth of experience, Hutchinson boasts 16 years at Hilton, where he held key positions across regions including the Middle East, Europe, Japan, China, Australia, and India.
About Hilton MEA
Hilton has firmly established itself in the MEA region, boasting a presence with a total of 285 hotels, either operational or in various stages of development. The portfolio encompasses 11 distinct brands, offering a diverse range of accommodations to cater to varying guest preferences.
In 2023, Hilton marked notable achievements, celebrating the grand openings of several new hotels, including the Hilton Skanes Monastir Beach Resort and Hilton Kinshasa. Furthermore, the company inked pivotal agreements that will see Hilton’s acclaimed hospitality offerings expand to emerging destinations such as Ghana, Nigeria, Tunisia, Egypt, and KSA.
The company’s commitment to fostering a thriving workplace culture is evident through its consistent recognition, ranking prominently in the Great Places to Work listings in the Middle East for consecutive years.
On a global scale, Hilton is a leading force in the hospitality industry, commanding a portfolio of more than 7,200 properties worldwide, boasting in excess of 1.1 million rooms. These properties are strategically distributed across 122 countries and territories, catering to the diverse needs of travellers.
Hilton remains steadfast in its pursuit of realising its foundational vision that has endured for over a century, namely, to illuminate the world with the warmth and hospitality it has become synonymous with. The company continues to stay at the forefront of innovation by introducing pioneering technological enhancements designed to elevate the guest experience.
Key advancements include features such as digital key share, automated complimentary room upgrades, and the ability to seamlessly reserve connecting rooms, all of which contribute to a more convenient and enjoyable stay for Hilton’s guests.
Company: Jumeirah Group
Country: UAE
Katerina Giannouka, the CEO of Jumeirah Group, assumed her role as the CEO in December 2022, bringing with her over two decades of invaluable experience in the international hospitality industry.
Backed by a wealth of experience, her career spans a wide spectrum of expertise, encompassing business leadership, operations management, hotel development, asset management, and strategic advisory. Her expertise lies in constructing and fortifying resilient teams, cultivating inclusive cultures, and orchestrating transformative organisational changes to expedite growth and deliver substantial value to stakeholders.
Prior to joining Jumeirah Group, she spent a decade in Asia, serving pivotal roles at the Rosewood Hotels & Resorts and Radisson Hotel Group. During her tenure as president of the Asia-Pacific region at Radisson Hotel Group, she orchestrated the successful execution of a comprehensive five-year business transformation plan, which led to unprecedented growth for the company.
About Jumeirah Group
In the contemporary landscape, Jumeirah Group stands as Dubai’s national champion and is a member of Dubai Holding. A global luxury hotel company renowned for its world-class portfolio of over 6,500 keys, the group spans 26 luxurious properties located across the Middle East, Europe, and Asia.
Within this collection of properties, Jumeirah Group boasts some of the world’s most prestigious establishments, including its iconic flagship, the Burj Al Arab Jumeirah; Madinat Jumeirah; Olhahali Island in the Maldives, and the art-inspired elegance of Capri.
Beyond its properties and resorts, Jumeirah Group also excels in curating extraordinary destination dining experiences. It seamlessly combines the most authentic and diverse cuisines and boasts a portfolio of over 85 restaurants.
Jumeirah Group’s homegrown concepts, such as Sal, KAYTO, Shimmers, Al Mare, Pierchic, and French Riviera hold stellar reputations for culinary excellence while 10 have been featured in the prestigious Gault&Millau UAE 2022 guide. The group also hosts three Michelin-starred restaurants, including Shang High, L’Olivo, and Al Muntaha.
In alignment with its commitment to growth, Jumeirah Group has earmarked capital to expand its portfolio and enhance existing properties. The brand is strategically focusing on assets that align with its new luxury hospitality brand identity. Moving forward, Jumeirah Group aims to establish a strong brand presence in major European cities and key gateway destinations.
A testament to this strategy is the recent acquisition of Le Richemond in Geneva, Switzerland, marking the luxury hospitality company’s inaugural property in Switzerland. Scheduled for a comprehensive renovation and reopening in 2025, Le Richemond will enrich Jumeirah’s burgeoning European footprint, which includes properties in London, UK; Capri, Italy; and Mallorca, Spain.
This strategic emphasis on expansion follows a successful 2022 and a robust start to 2023. Moreover, as the group continues its path of sustainable growth, they have forayed into KSA with its first property in the kingdom.
The group announced Rizwan Shaikh as general manager of Jabal Omar Jumeirah in Makkah. With over 20 years of luxury hospitality experience across India, Singapore and KSA, Shaikh will oversee Jumeirah Group’s ethos of exceptional luxury at this new property.
Company: Rotana
Country: UAE
As the chairman of Rotana, Nasser Al Nowais is a highly respected figure in the hospitality and tourism sectors, not only known as a co-founder of Rotana but also recognised for his substantial contributions to the growth of these industries in the region.
With a tenure of 14 years as the founder and chairman of Abu Dhabi National Hotels (ADNH), which stands as the largest hotel and industrial catering company, Al Nowais has amassed invaluable experience and deep insights into the hospitality sector. His leadership extended to overseeing significant investments in tourism, agriculture, industry, and infrastructure projects across the MEA region during his role as the managing director of the Abu Dhabi Fund.
Among his notable positions, he assumed the role of undersecretary of the Ministry of Finance and Industry for the UAE government in 1992. Additionally, Al Nowais held various positions in the field of banking, further enhancing his multifaceted expertise. An economist by profession, he holds a degree from New York University. His visionary leadership continues to make a lasting impact on the hospitality and tourism landscape.
About Rotana
The start of the Rotana brand dates back to 1978 when Nasser Al Nowais and Selim El Zyr forged a lasting friendship. Their shared dream was to establish a regional hospitality group capable of crafting world-class hotels meeting international standards. Operating under the Rotana banner, their inaugural property, the Beach Rotana Abu Dhabi, opened its doors in 1993. Today, Rotana stands as a premier hotel management company, serving regions including the Middle East, Africa, Eastern Europe, and Turkey.
The company is presently embarked on an ambitious expansion journey, aiming to elevate its portfolio from two operational properties in 1993 to an impressive 80 by the close of 2023.
Rotana’s diverse product brands, such as the luxurious Rotana Hotels & Resorts, the Rayhaan Hotels & Resorts by Rotana, the contemporary Centro by Rotana, the extended-stay Arjaan Hotel Apartments by Rotana, Edge by Rotana, a collection of independent hotels, and The Residences by Rotana, each possess distinct identities while staying true to the core Rotana essence.
At present, Rotana operates a total of 72 hotels spanning the Middle East, Africa, Eastern Europe, and Turkey, welcoming over six million guests annually. Within this, an impressive 36 hotels, housing 10,012 keys, are located within the UAE. Rotana’s vision extends to witness over 100 properties by 2025 and is actively exploring opportunities in KSA, Egypt, Central and Eastern Africa, buoyed by robust government support and infrastructure.
While Rotana enjoys a significant presence in the UAE, its domestic market remains pivotal to its medium-term growth strategy. Recently, Rotana made its debut in the UK market, unveiling two properties under its Centro brand, including Centro New Malden, featuring 70 apartments, which is slated to open its doors this year. Subsequently, Centro Kingston, a new building comprising 31 apartments, will grace the northern edge of Coombe Road in 2024.
Tourism
Company: Diriyah Gate
Country: Saudi Arabia
Jerry Inzerillo, group CEO Diriyah Company and vice chairman, Forbes Travel Guide, is a globally renowned visionary leader with an illustrious five-decade career in the tourism and hospitality industry. Throughout his journey, he has not only championed the sector but also dedicated himself to the people within it.
His unwavering commitment to the hospitality industry has garnered him prestigious accolades, including the ‘Corporate Hotelier of the World Award’ from HOTELS magazine and the ‘Tourism for Peace Award’ bestowed by WANGO.
In recognition of his exceptional contributions, US President Joe Biden honoured Inzerillo with the Presidential Volunteer Service Award, and he is also the proud recipient of the Nelson Mandela Children’s Fund Lifetime Achievement Award.
In June 2018, Crown Prince Mohammed bin Salman Al Saud appointed Inzerillo as the founding CEO of the Diriyah Gate Development Authority, now known as Diriyah Company.
A giga project par excellence
In line with KSA’s ambitious 2030 Vision, the Diriyah Company is spearheading a remarkable transformation of Diriyah to become the world’s largest cultural and heritage destination. This monumental endeavour, backed with a mega budget of $63.2bn, draws inspiration from the timeless Najdi architecture of At-Turaif, an architectural marvel.
Diriyah holds deep historical significance as the ancestral home of the Royal Family of Al Saud and stands as the very birthplace of KSA. Upon its completion, Diriyah will emerge as the Kingdom’s foremost lifestyle destination, offering a multifaceted experience. Visitors will have the opportunity to explore, reside, work, shop, dine, and partake in the festivities, all while immersing themselves in the rich heritage and culture that define the essence of this remarkable nation. At its core lies the UNESCO World Heritage Site of At-Turaif, serving as the project’s anchor.
The year 2022 marked a watershed moment for this visionary project, as Diriyah unveiled its inaugural assets, including the Bujairi Terrace, an epitome of premier cuisine, offering an array of dining experiences options, from Michelin-starred restaurants to Saudi brands.
Moreover, a total of 38 hotels will be built in Diriyah and each will feature the Najdi style of mudbrick architecture. Diriyah, aptly named ‘The City of Earth,’ has historically been a melting pot of culture, continually celebrating its rich heritage through modern art exhibitions and providing a platform for local designers and talent. Here, culture is not just embraced; it permeates every facet of life, as it embodies the very essence of identity.
Sustainability serves as the beating heart of Diriyah, with the company enrolling in KSA’s homegrown sustainability certification programme, MOSTADAM, and earning the prestigious platinum-level USGBC LEED pre-certification, a first in the Middle East.
Preserving the natural environment and the time-honoured way of life spanning centuries is of paramount importance. The approach is holistic, encompassing conservation, enhancement, and celebration of the community and environment. The initial phase of the Diriyah masterplan will embrace the traditional Najdi architectural style, an integral facet of Diriyah’s identity and culture.
Company: NEOM
Country: Saudi Arabia
CEO of NEOM Nadhmi Al Nasr’s professional journey commenced in 1978 after graduating from King Fahd University of Petroleum & Minerals. He embarked on a robust tenure at Saudi Aramco, beginning with his instrumental role in executing the Kingdom’s Master Gas System, an industrial endeavour that set records at the time.
This was followed by his involvement in the Refinery Programme, Southwest Refinery, and Ras Tanura Refinery. His impressive rise through the ranks continued as he assumed the role of project manager, overseeing the Ghawar oil field capital programmes which in 1993, was successfully completed in record-breaking time.
Subsequently, Al Nasr took charge of Saudi Aramco’s oil and gas pipeline projects, showcasing his strategic leadership abilities. In 1995, he assumed leadership of the Shaybah Development Programme and under his guidance, the Shaybah mega-project achieved a historic milestone by completing one year ahead of schedule and under budget, solidifying its status as one of Saudi Aramco’s most ambitious and triumphant ventures.
In July 2018, Nadhmi Al Nasr received a pivotal appointment from Prince Mohammed bin Salman bin Abdulaziz, the Chairman of NEOM, to lead this visionary $500bn giga-project, further exemplifying his dedication to advancing Saudi Arabia’s economic and developmental aspirations.
About NEOM
NEOM is a portmanteau of Greek and Arabic words and represents KSA’s futuristic giga-project. This transformative endeavour is backed by the Public Investment Fund (PIF) and is strategically located along the Red Sea coast, adjacent to Jordan and Egypt. NEOM is a cornerstone of Saudi Arabia’s Vision 2030 plan which aims to diversify the nation’s economy and reduce its reliance on hydrocarbons.
The PIF giga-projects, strategically devised to foster innovative ecosystems and catalyse emerging sectors, are intrinsically linked with the promotion and advancement of technology and knowledge within KSA. These initiatives transcend beyond mere real estate and infrastructure development but rather also aim to revitalise the economy by virtue of their colossal scale and multifaceted impact.
With a focus on delivering substantial returns over the medium and long term, these giga-projects stand as a testament to KSA’s unwavering commitment to sustainable economic growth. Presently, the Kingdom is home to five giga-projects, each poised to chart a distinct path towards a more prosperous and diversified future.
NEOM encompasses several key super projects, each contributing to its grand vision. The Line stands out as a 170 km-long city that relies on clean energy, devoid of streets and cars, with the capacity to accommodate up to two million residents upon completion.
Additionally, Oxagon is set to be a revolutionary floating city and an industrial complex, presenting an innovative model for future manufacturing centres while simultaneously prioritising environmental sustainability. For those seeking mountain tourism, Trojena is in the works, featuring a ski village, ultra-luxury resorts, interactive nature reserves, and much more.
This mega-project represents a significant stride towards KSA’s economic diversification and sustainable development and aligns with its forward-looking Vision 2030 goals.
Company: Red Sea Global
Country: Saudi Arabia
As the CEO of Red Sea Global (RSG), a fully integrated real estate firm specialising in transformative development projects along the Red Sea coast of KSA, encompassing The Red Sea and AMAALA, both situated on the west coast of the country, John Pagano brings with him more than three decades of international expertise in project structuring, financing, construction and asset management, master planning, and more. At RSG, he leads the charge in developing ground-up regenerative luxury tourism destinations within KSA.
Since assuming his role in January 2018, Pagano has been at the forefront of the Red Sea Development Co. (TRSDC), primarily focused on island development and one of three mega-projects aimed at diversifying KSA’s economy in alignment with Vision 2030. Simultaneously serving as the CEO of Amaala, an ultra-luxury destination project in KSA, he is responsible for the phase one development of the Red Sea Project, scheduled for completion in 2024. This covers an area of approximately 20,000 km2, encompassing six inland locations and 22 islands.
Upon its entirety, the Red Sea Project is slated to feature around 50 hotels and 1,300 residential properties across 22 islands. The first phase of Amaala primarily involves the establishment of an international airport, the delivery of 16 hotels, and the creation of mirrored orbs constituting the Sheybarah Island hotel. A commitment to responsible development is evident through the use of green concrete to mitigate emissions, comprehensive clean mobility strategies, and pioneering farming methods for sustainable food production.
Prior to his tenure at RSG, Pagano founded his own firm, Old Fort Capital Investments Ltd, focusing on large-scale real estate developments. In addition, he held various high-level executive positions for over two decades at London’s Canary Wharf development. He also served as the president of Baha Mar Development Company Ltd. (BDMC), where he oversaw a $3.6bn development featuring four new hotels, a convention centre, and a Jack Nicklaus Signature championship golf course in the Bahamas for four years.
RSG’s recent achievements
On 20 September 2023, a significant milestone was achieved at the Red Sea project with the inaugural landing of the first flight at the newly inaugurated Red Sea International Airport (RSI). The historic flight was conducted by Saudia Airlines, departing from Riyadh’s King Khalid International Airport (RUH) and arriving at RSI in less than two hours. The operation and management of Red Sea International Airport are overseen by daa International, which has been actively involved in design validation and commissioning support for RSI since 2020.
Also, key survivalist Bear Grylls is extending his globally acclaimed outdoor adventure brand to KSA through an exclusive partnership with Red Sea Global, The Red Sea, and Amaala. Together, they plan to establish multiple branches of the Bear Grylls Survival Academy across the kingdom. The Bear Grylls Survival Academy offers a range of courses focused on wilderness education, survival skills, and team-building activities, all personally designed by Bear Grylls, the former soldier turned television host.
Company: Yas Island
Country: UAE
In his role as the group CEO of Miral, Mohamed Abdalla Al Zaabi has been managing the company’s expanding portfolio of assets on Yas Island and in Abu Dhabi. In 2015, he joined Miral Group, responsible for the destination management of several leisure, entertainment, and cultural landmarks in Abu Dhabi, including Yas Island and Saadiyat Island.
Through its subsidiary Miral Experiences, it also manages the operations of Ferrari World Abu Dhabi, Yas Waterworld Abu Dhabi, Warner Bros. World Abu Dhabi, and CLYMB Abu Dhabi, among others. Al Zaabi’s efforts are dedicated to positioning Yas Island as a top global destination for entertainment, leisure, and business, focusing on delivering immersive experiences and world-class attractions.
Under Al Zaabi’s dynamic leadership, Miral has made substantial investments into completed projects on Yas Island. These investments have paved the way for strategic partnerships with some of the world’s most renowned leisure and entertainment brands, including SeaWorld Entertainment Inc and Warner Bros. He also serves as the chairman of Miral Destination, the trade and promotion arm of Yas Island Abu Dhabi and a subsidiary of Miral, and he is on the board of directors at Miral Experiences.
His career trajectory has been marked by diverse experiences. After his service in the military, he joined a subsidiary of Emirates Advanced Investment as the head of Integrated Technologies. It was in 2008 that he ventured into project and construction development, becoming part of Aldar Properties PJSC.
During his tenure at Aldar Properties, he held various roles, including head of Integrated Technologies, director of Estates, and director of Strategic Investments. His contributions extend to several board positions, including chairman of Experience Hub, the trade and promotion arm of Yas Island Abu Dhabi, which is a subsidiary of Miral. Additionally, he serves as a member of the board of directors at Farah Experiences LLC, responsible for managing and operating entertainment experiences on Yas Island Abu Dhabi.
About Miral Destinations
A subsidiary of Miral, Miral Destinations is the go-to destination partner dedicated to inspiring and connecting people through the magic of shared experiences. Their mission revolves around creating countless memorable moments and spreading joy to visitors through an array of leisure, entertainment, and tourism attractions and landmarks in Abu Dhabi and beyond.
Under the Miral Destinations banner, there are two prominent destinations that capture the essence of their offerings. The first is Yas Island, a world-renowned locale that houses top-tier theme parks like Ferrari World Abu Dhabi, Yas Waterworld, and Warner Bros. World™ Abu Dhabi. Additionally, Yas Island boasts incredible attractions such as the record-breaking CLYMB™ Abu Dhabi and the heart-pounding Yas Marina Circuit, home to the prestigious Formula 1™ Etihad Airways Abu Dhabi Grand Prix.
The second in Miral Destinations’ crown is Saadiyat Island, a beach and cultural destination in the Middle East. Saadiyat Island marries transformative luxury with exclusivity, making it a beacon for discerning travellers seeking an exceptional experience.
Company: Marjan Island
Country: UAE
Abdullah Al Abdooli is a seasoned architect and urban planning expert who serves as the CEO of Marjan, the master developer of freehold properties in Ras Al Khaimah, UAE. In his current role, he is responsible for spearheading the company’s strategic growth initiatives.
His primary focus is on developing world-class master-planned communities in Ras Al Khaimah, aimed at attracting foreign investments and positioning the emirate as a prominent regional investment and tourism destination.
Al Abdooli’s responsibilities encompass identifying new growth opportunities, expanding Marjan’s global partnerships, and establishing a robust framework to boost investor confidence. Additionally, he oversees the development, operations, and expansion plans for Al Marjan Island, ensuring its contribution to the economic development of the emirate.
He is recognised for his innovative initiatives that have garnered global acclaim for Ras Al Khaimah, including the spectacular New Year’s Eve Fireworks event, which attracted hundreds of thousands of visitors and went on to earn accolades in the Guinness World Records.
With a background in real estate development and urban master planning, he previously held key positions such as the director of Town Planning and Survey Administration and director of Project Management at RAK Municipality. He also served as a board member of the RAK International Airport Authority and RAK Sewerage Authority.
About Al Marjan Island
Nestled within Ras Al Khaimah, Al Marjan Island promises an unrivalled beach retreat, basking in perpetual sunshine, with pristine shores and azure waters. This artificial oasis harmoniously weaves together nature’s allure, the emirate’s rich heritage, and contemporary luxury amenities, firmly establishing Ras Al Khaimah as a premier UAE tourist destination.
Located just 45-minutes by road from Dubai International Airport, Al Marjan Island unfolds its aesthetic across four coral-shaped isles, adorned with world-class hotels, modern leisure attractions, and natural wonders, encompassing 7.8km of unspoiled sandy coastline.
This foremost leisure haven sprawls over 23km of scenic waterfront, featuring a picturesque palm-fringed promenade. Fitness enthusiasts can enjoy the dedicated running and cycling tracks while electric scooters provide a leisurely mode of exploration. The island has carved a niche as a running hub and annually hosts the RAK Half Marathon, renowned as the world’s fastest half marathon.
The island is home to a diverse array of hotels and resorts, catering to varied tastes and budgets. From the family-friendly DoubleTree by Hilton Resort & Spa, Marjan Island, featuring a themed waterpark and Chuckles Kid’s Club, to the upscale, all-inclusive Rixos Bab Al Bahr, accommodations cater to every palate.
Other choices include Marjan Island Resort & Spa, Radisson Resort Ras Al Khaimah Marjan Island, and Mövenpick Resort Al Marjan Island. The area continues its expansion, with the eagerly anticipated Rove Al Marjan Island poised to open its doors in 2024, offering 441 signature rooms. Future endeavours include the prestigious Nobu Al Marjan Island, the UAE’s second Nobu-branded hotel, and the ambitious Wynn Resort, a multibillion-dollar venture by the renowned Las Vegas brand.
healthcare
Company: GE Healthcare
Country: UAE
With a career journey marked by a dedication to innovation, leadership, and the pursuit of excellence in the field of healthcare management, Hady El Khoury holds the position of general manager where he is instrumental in spearheading growth initiatives and extending market influence across the Middle East, Northeast Africa, Turkey, and South-Central Asia.
His professional journey with GE HealthCare commenced in Europe in 2005 and by 2014, he embarked on a pivotal transition in his career as he relocated to Dubai, UAE where he assumed a series of regional leadership roles, steadily contributing to the company’s achievements and progress. His most recent role prior to his position of general manager was that of chief operating officer for EMEA.
In 2022, El Khoury graduated from Saint Joseph University of Beirut with a bachelor’s degree in Business Administration. He also holds a diploma in Economics from Panthéon-Assas University in Paris and a master’s degree in Management & Corporate Finance from SKEMA Business School.
About GE HealthCare
In January 2023, GE HealthCare spun off from its parent company General Electric, became independent, and started trading on The Nasdaq Stock Market. It was launched in more than 160 countries and employs approximately 51,000 people worldwide.
As a leading medical technology and diagnostics innovator, GE HealthCare enables clinicians to make faster, more informed decisions through intelligent devices, data, analytics, applications, and services, supported by its Edison intelligence platform.
With $1bn invested in R&D annually, 259K patients supported daily using GE HealthCare imaging technology, 4 million imaging, mobile, diagnostic, and monitoring devices worldwide, over 2 billion patient scans managed by GE HealthCare technology annually.
GE HealthCare is leveraging AI on a broader scale, across hospitals or multiple clinical sites via GE HealthCare’s Edison cloud platform which streamlines clinician workflows in healthcare facilities.
In addition to its technological advancements, in key markets such as KSA, the UAE, Turkey, and Egypt, GE HealthCare is expanding its range of artificial intelligence (AI) and machine learning systems and devices. These innovations are aimed at transforming hospital practices, speeding up diagnostics, and improving patient care.
They assist in developing disease-focused care pathways, particularly in areas like cardiovascular disease and cancer, from prevention and diagnosis to treatment, rehabilitation, chronic disease management, and palliative care. By partnering with health ministries, the company ambitions to make a considerable impact on improving healthcare accessibility and outcomes in the region.
Shortly after its separation from General Electric, GE HealthCare made a strategic acquisition by purchasing Caption Health, a company specialising in artificial intelligence-powered ultrasound guidance technology. This move has proven to be beneficial as GE HealthCare recently secured a substantial grant exceeding $44m from the Bill & Melinda Gates Foundation.
Notably, this backing from the foundation will primarily aid in bringing this technology to low- and middle-income countries and then integrate AI capabilities into a range of ultrasound devices, including cost-effective handheld scanners.
Company: Aster
Country: UAE
As the deputy managing director at Aster DM Healthcare since 2013, Alisha Moopen has played a pivotal role in shaping the organisation’s trajectory. Her responsibilities extend across operations in both India and the GCC region, where she has been instrumental in driving growth and expanding into new markets.
Moopen’s professional journey is marked by a background in finance and leadership as she holds the designation of a chartered accountant, accredited by the Institute of Chartered Accountants of Scotland. Her earlier career experience at Ernst & Young provided her with valuable insights and expertise. Her academic achievements include degrees in finance & accounting from the University of Michigan and Global Leadership & Public Policy Change from Harvard University.
Beyond her corporate role, Moopen has assumed a prominent position as the first female Chapter Chair of YPO’s Dubai Chapter, connecting chief executives from across the globe. She is deeply committed to critical causes like women’s empowerment and mental health.
Moreover, one of her notable contributions within Aster DM Healthcare has been the launch of the Women in Leadership programme. This initiative empowers talented female employees by providing them with training and growth opportunities, positioning them to break through the glass ceiling and assume leadership roles within the company. Moopen’s vision and strategic acumen have been pivotal in guiding Aster DM Healthcare’s expansion and success.
About Aster
Aster stands out as a prominent integrated healthcare conglomerate with an impressive track record spanning over three decades, dedicated to delivering compassionate care to patients. It all began in the UAE and from there, Aster has consistently expanded its footprint across seven countries in the MENA region and Asia-Pacific region. Presently, Aster operates in India, Oman, Qatar, Saudi Arabia, Bahrain, Kuwait, and Jordan, positively impacting millions of lives through its healthcare services and social initiatives.
At Aster DM Healthcare, excellence is the norm, with top-notch professionals, advanced technologies, and a commitment to integrity converging to provide patients with the best possible experience. A noteworthy addition is XHealth Innovation Labs, India’s pioneering accelerator and incubator program, uniquely offering a hospital immersion module as a core component. Structured with a 12-week virtual and on-campus cohort programme, this innovation lab focuses on investing in early-stage healthcare and med-tech start-ups situated at the intersection of science, diagnostics, big data, as well as deep machine learning.
Aster’s extensive network comprehensively covers various healthcare levels, including primary, secondary, tertiary, and quaternary care services, spanning seven countries, 33 hospitals, 527 pharmacies, and 127 clinics.
Additionally, Aster DM Healthcare recently unveiled the forthcoming launch of Medcare Royal Hospital in Al Qusais. This new 126-bed medical facility, constructed in partnership with Dubai Developments, marks the fourth Medcare Hospital in Dubai and the fifth in the entire UAE. An agreement formalised in July 2023, underscores Aster DM Healthcare’s commitment to advancing healthcare services in the region, with the hospital scheduled to commence operations by December 2023.
Company: Gargash Hospital
Country: UAE
Dr. Husnia Gargash, a trailblazing figure in the field of gynaecology and reproductive medicine, is the founder and chairperson of Gargash Hospital, a multifaceted healthcare institution that emerged in 2019. She has etched her name in history as the first female Emirati gynaecologist and IVF specialist in the UAE, pioneering advancements in assisted reproductive technology and family health.
Gargash Hospital, born from her vision and commitment to women’s health and fertility, offers a comprehensive spectrum of medical services, spanning across an array of 22 different specialties. A dedicated team of 66 doctors, supported by more than 25 clinic rooms, ensures the delivery of top-notch healthcare.
Dr. Gargash’s profound contributions to the field extend beyond her hospital’s walls. She also founded the Dr. Husnia Gargash Fertility, Gynaecology, and Obstetrics Centre, further solidifying her status as a trailblazer in reproductive medicine. Her distinction as the first local consultant in gynaecology and obstetrics with a subspecialty in reproductive medicine underscores her unparalleled expertise.
Dr. Gargash is well known for her proficiency in assessing, investigating, and conducting cutting-edge Assisted Reproductive Techniques (ART). Her memberships in key medical associations, including the British General Medical Council, the European Society of Human Reproduction and Endocrinology, as well as the Emirates Medical Association, testify to her commitment to upholding the highest standards in healthcare.
Before establishing Gargash Hospital, Dr. Gargash held several prominent positions, including serving as an associate professor at Dubai Medical College. She also led the Department of Obstetrics & Gynaecology at Dubai Hospital and Dubai Medical College, contributing significantly to medical education and healthcare delivery in the region. Her journey continues to inspire aspiring medical professionals and women in healthcare, embodying a legacy of excellence and innovation.
About Gargash Hospital
Gargash Hospital was established in 2019 and stands as a premier healthcare institution in the UAE, focusing primarily on women’s and child health. This state-of-the-art, multi-specialty tertiary care hospital has made significant strides in the field of healthcare, distinguishing itself as a pioneer in the region.
Notably, it is the first hospital to introduce a fully equipped Assisted Reproductive Technique (ART) facility, integrating modern amenities and a team of dedicated healthcare professionals to create an enriching experience for its patients.
At the core of Gargash Hospital’s mission is a commitment to delivering superior healthcare services. The hospital boasts a comprehensive range of specialties, encompassing infertility treatment (IF), gynaecology, obstetrics, and general health. The medical care provided to patients is overseen by some of the most skilled and experienced doctors in the UAE, ensuring that patients receive top-tier healthcare that aligns with global standards.
The expertise of these medical professionals spans various facets of medical service, including paediatrics, endocrinology, cardiology, dentistry, gynaecology, gastroenterology, among others. With a strong commitment to excellence and innovation, Gargash Hospital continues to set benchmarks in healthcare delivery and remains a beacon of hope for those seeking comprehensive and compassionate medical services in the region.
Company: Saudi German Hospital
Country: Saudi Arabia
A legacy built by healthcare pioneers in KSA over 30 years ago, Saudi German Health (SGH) was founded by the Batterjee family, bringing world-class medical care to the region. SGH partnered with German University Hospitals to introduce advanced German healthcare expertise and standards to the community for the first time in KSA.
In 2017, Makarem Sobhi Batterjee assumed the roles of president and vice-chairman of SGH. His tenure has been marked by a commitment to expansion and progress, with a strategic focus on strengthening the group’s German roots through collaborations with key healthcare providers in the US, Canada, UK, and other regions.
Under his leadership, the organisation embarked on a multifaceted transformation journey which involved the renovation of hospitals, a significant digital overhaul of services, a drive to enhance the patient experience, the introduction of unique medical specialties, the provision of cutting-edge treatments, the recruitment of renowned international doctors to the region, as well as the establishment of pivotal partnerships with global medical organisations.
Apart from his current role at SGH, Batterjee is also the executive vice chairman and CEO of the family-owned Bait Al Batterjee Group, a diversified organisation with over 25 subsidiaries. He is also the founder of Humania Capital, a private equity fund that has successfully raised significant amounts for healthcare projects in the GCC and North Africa and the chairman and founder of Make a Wish Foundation Saudi Arabia.
His insights into the interplay of healthcare, economic development and social change also inspired him to launch Shababco Enterprises, which specialises in consumer wellness initiatives as well as support for entrepreneurs.
He played a pivotal role as the founding president of the original Saudi chapter of the global Entrepreneurs’ Organisation. Today, he provides venture capital funding to sharia-conscious start-ups through Shababco. His civic endeavours are centred on empowering women and youth and promoting community health.
About SGH
Founded by the Batterjee family, SGH has 18 facilities spread across KSA, the UAE, Egypt, Yemen, Morocco, and Pakistan. Part of one of the largest hospitals groups in the MENA region, SGH Dubai offers a broad spectrum of medical services at the international level, including critical care, all types of specialties, as well as sub-specialties.
It also offers one of the largest emergency departments in the private sector. Throughout the first quarter of 2023, SGH achieved total revenues amounting to $628m, marking the group’s highest-ever achievement within a single quarter.
This robust performance was driven by notable enhancements across SGH’s comprehensive network of medical facilities, underpinned by an increased census and optimised case mix. In June 2023, SGH announced the inauguration of the pioneering Saudi German Women and Children Specialty Hospital in Dubai.
This hospital, an integral component of Batterjee Medical City, forms an all-encompassing healthcare ecosystem, collaborating with entities such as Saudi German General Hospital, Saudi German Orthopaedic and Trauma Hospital, Saudi German Teaching Academy, and Saudi German Housing.
Company: Mediclinic
Country: UAE
Hein van Eck assumed the role of CEO at Mediclinic Middle East in January 2023, marking a pivotal moment in his career that has spanned nearly two decades with Mediclinic. His journey with the company began in 2005, when he first joined Mediclinic and played a vital role in its operations in both the UAE and South Africa.
In 2014, he made a move to the Middle East division, where he initially served as the head of funder relations. His strategic acumen soon led him to become the chief strategy officer in 2016. With over 20 years of experience, van Eck has honed his leadership skills, developed strategic insights, and spearheaded growth initiatives within the local and global healthcare arenas.
In addition to overseeing the company’s strategy and digital transformation, he is also helps steer pricing strategies, analytics, payer relations, revenue cycle management (RCM) processes, business development, and driving Mediclinic’s growth in the UAE.
About Mediclinic
The origins of Mediclinic trace back to 1983 when Dr. Edwin Hertzog, who continues to serve as the chairman of Mediclinic International, conducted a feasibility study on private hospitals at the request of the Rembrandt Group (now known as Remgro Group).
This study laid the foundation for the establishment of Mediclinic in South Africa. Over the past four decades, Mediclinic has experienced substantial growth, both through organic expansion and strategic acquisitions, ultimately evolving into one of the world’s largest international private healthcare groups.
Mediclinic International’s core philosophy revolves around the application of rigorous scientific principles to enhance the lives of patients by offering cutting-edge treatments and leveraging state-of-the-art technologies within an evidence-based healthcare environment.
Mediclinic’s presence in the UAE commenced in 2007 with the acquisition of a controlling interest in Emirates Healthcare Ltd. This commitment to the region continued with the acquisition of the remaining minority interest in 2012. Furthermore, the merger with Abu Dhabi-based Al Noor Hospitals Group in 2016 further enriched Mediclinic’s legacy, as it incorporated hospitals and clinics that had long been serving the UAE community.
Today, Mediclinic Middle East operates seven hospitals in the UAE, offering a combined total of over 950 inpatient beds. This includes the recently inaugurated Mediclinic Parkview Hospital in Dubai, alongside a network of more than 24 clinics strategically located in Dubai, Abu Dhabi, Al Ain, and Al Dhafra. Mediclinic Middle East provides an extensive range of primary, secondary, and tertiary medical services, catering to diverse healthcare needs.
The group’s operational model follows a ‘hub and spoke’ approach, with primary healthcare services delivered through multiple multidisciplinary clinics situated within communities. For certain advanced clinical services, such as cardiothoracic surgery, paediatric intensive care, or high-end interventional procedures like TAVI, specialised facilities are designated to ensure the highest standards of care and clinical outcomes.
Mediclinic Middle East prioritises coordinated care initiatives, exemplified by its comprehensive cancer centre, stroke centre, metabolic centre, and breast centre which bring together expert multidisciplinary teams to provide comprehensive treatment solutions for patients.
E-commerce
Company: Idealz
Country: UAE
Jad Toubayly is the visionary founder and CEO of Idealz, an innovative ecommerce platform that has revolutionised the online shopping formula. With his unconventional thinking and approach, he has seamlessly blended online shopping, winning and social impact together, creating a unique win-win-win formula.
Prior to founding Idealz, Toubayly had a successful entrepreneurial track record, having started and exited several businesses in the tech, services and industrial sectors. His diverse professional background has equipped him with a well-rounded understanding of business dynamics and innovation. In parallel with his entrepreneurial pursuits, Toubayly holds over a decade of experience in tier-one investment banking.
He started his career with Ernst & Young within their transaction advisory services team, showcasing a strong aptitude for numbers and financial acumen. From there, he joined Deutsche Bank as a Global Markets credit and derivative structurer. He later joined JP Morgan as part of their Sharia-compliant credit and derivative structuring team with a global mandate.
In his current capacity as CEO, Toubayly has steered Idealz towards achieving significant milestones, including an exclusive long-term partnership with Dubai Festivals and Retail Establishment. He is currently focused on expanding Idealz’s geographical reach, leveraging a global franchising model.
Simultaneously, he remains committed to enhancing the brand’s social impact, collaborating closely with organisations such as Dubai Cares to provide education to disadvantaged children worldwide. To date, Idealz has funded the construction and operation of 13 elementary schools across Nepal, Cambodia, Malawi, and Senegal.
A one-of-a-kind shopping platform
Founded in 2016, Idealz is a first-of-its-kind e-commerce platform that has revolutionised the online shopping experience. The unique shop-and-win platform combines online shopping, winning and social impact together, giving customers an opportunity to win amazing prizes while also changing the lives of those less fortunate around the world.
Through Idealz, customers stand a chance to win from a wide range of luxury prizes across various campaigns that are either limited by time or quantity. With every ‘idealzbasics’ shopping card purchased; customers are awarded complimentary tickets to prize draws.
The prizes up for grabs are of select categories including cars, watches, cash, electronics, and lifestyle. Once the limited quantity of shopping cards in a campaign has sold out or a set time has elapsed, a live draw is conducted, and a winner is announced.
As a homegrown startup, Idealz has made more than 6,000 winners who have collectively won over $60m in prizes, attracting participants from over 180 countries worldwide. Idealz is the long-term exclusive digital raffles partner of Dubai Festivals and Retail Establishment, with 3 million app downloads worldwide.
Company: Amazon.ae
Country: UAE
Ronaldo Mouchawar, CEO of Souq.com and vice president at Amazon MENA, stands as a visionary entrepreneur who has made an enduring impact on the MENA region’s ecommerce landscape.
As one of the co-founders of Souq.com Group and its CEO, he masterminded the company’s remarkable evolution into the largest e-commerce retailer in the Arab world. This captured the attention of tech behemoth Amazon, which acquired Souq.com for $580m in 2017.
His association with Souq.com commenced in 2005, coinciding with its inception in the UAE. His visionary stewardship drove its expansion into pivotal markets such as KSA and Egypt. In 2014, he introduced the White Friday sale event, now an eagerly anticipated annual shopping extravaganza in the region. Mouchawar further extended Souq.com’s reach by launching PayFort, a leading online payment service provider in the region, and Q-Express, a logistics arm aimed at enhancing delivery efficiency.
In 2016, Souq.com secured an investment of $275m, propelling its valuation to exceed $1bn which represented the largest-ever funding deal in the Arab world at that time and cemented Souq.com as the region’s first unicorn. Following Amazon’s acquisition of Souq.com in 2017, the Souq.com marketplace underwent a transformation, rebranding as Amazon.ae in the UAE in 2019, and subsequently as Amazon.sa in KSA in 2020.
The introduction of Amazon Prime in the UAE in 2019, along with Amazon Home Services in 2020 and Prime in KSA in 2021, underscored Mouchawar’s unwavering commitment to providing Arabic language support. He also served as a board director for Instashop, a UAE-based grocery app, and his investment played a pivotal role in its later acquisition by Delivery Hero in 2020.
He is an active member of the Dubai Future Council on Artificial Intelligence and holds distinguished appointments by Sheikh Hamdan as a member of the Dubai Future Academy board of trustees and the International Advisory Council at the Executive Council, underscoring his commitment to shaping the future of technology and innovation in the region.
Amazon MENA transforms e-commerce in the region
Expanding storage capacity in the UAE, in April 2023, Amazon MENA launched a cutting-edge Fulfilment Centre in Dubai, equipped with advanced technology to increase storage capacity by 70 percent. Located in Dubai South’s Logistics District, it ensures efficient operations and access to key transportation hubs enabling efficient services, speed, operations, and uninterrupted access to Jebel Ali Port and Al Maktoum International Airport (DWC).
The district comprises of multiple zones that facilitate distribution, including a Freight Forwarding Zone; EZDubai, a fully dedicated ecommerce free zone strategically located in the heart of the district; and a Contract Logistics Zone.
Supporting Dubai and UAE’s agenda for a digital economy, the enhanced capacity will provide entrepreneurs and SMBs access to Amazon’s fulfilment capabilities and world-class logistics expertise and aims to host products from 100,000 businesses on Amazon.ae by 2026. Additionally, the Centre offers training and upskilling programmes for employees, contributing to the UAE’s growing digital economy.
Company: Sellanycar.com
Country: UAE
Saygin Yalcin, a Turkish-German entrepreneur, investor, and philanthropist, is the dynamic CEO and founder behind SellAnyCar.com, the GCC’s premier used car portal. His entrepreneurial journey in Dubai commenced after he identified a gap in the UAE’s e-commerce landscape during a visit to the emirate. This pivotal observation prompted Yalcin to make a bold move to Dubai at the age of 24.
In 2009, he embarked on his entrepreneurial trajectory by launching Sukar.com, an online fashion store that would later be acquired by Souq.com, subsequently becoming part of the Amazon family. This strategic acquisition transformed Yalcin into a partner at Souq.com and Jabbar Internet Group, solidifying their status as the largest e-commerce company in the Arab world, boasting a workforce of over 3,000 employees.
The start of his ground-breaking business idea occurred when he attempted to sell his car through classifieds, a cumbersome and time-consuming process. Driven by meticulous market research, Yalcin unveiled SellAnyCar.com, a portal that streamlined the car selling process. Following its success, his team expanded their horizons by creating a digital marketplace, hosting over 25,000 companies bidding on cars purchased by SellAnyCar.com.
Subsequently, his entrepreneurial spirit led to the launch of Carnab.com, another platform facilitating online sales of pre-owned cars to consumers. In Dubai, Yalcin is an astute investor in emerging companies and has earned recognition as a UBS Industry Leader, an exclusive network of ultra-high-net-worth Individuals. He also served as an advisory board member and academic lecturer of Entrepreneurship at the Canadian University of Dubai.
Furthermore, Yalcin contributes his expertise to Bonuz’s advisory board, a revolutionary social engagement platform harnessing blockchain technology to streamline interactions between brands, companies, content creators, influencers, celebrities, as well as governments and their audiences, surpassing the limitations of traditional social media channels. He is also a distinguished social media influencer, known for his popular YouTube channel that boasts over one million subscribers.
About SellAnyCar.com
SellAnyCar.com stands as the trailblazing car buying service in the Middle East, redefining the car selling experience with its unique offerings. Their comprehensive service includes a complimentary and immediate online car valuation, coupled with a meticulous car inspection, all provided at no cost. What distinguishes SellAnyCar.com is their unwavering commitment to purchase any car within a swift 30-minute window, ensuring both efficiency and peace of mind.
With branches in Dubai, Abu Dhabi, Riyadh, Jeddah, and various regional locations, irrespective of the car, Sellanycar.com are ready to purchase a vehicle. The process is simple with an online valuation tool to quickly estimate the value of the car followed by an appointment with their expert automotive professionals who will carefully inspect and evaluate the car and present a competitive offer.
If the offer is accepted, SellAnyCar.com will handle the entire sales process. As the largest and most reputable car buyer in the region, SellAnyCar.com commands significant purchasing power, allowing them to extend competitive prices as well as execute immediate transactions.
Company: Careem
Country: UAE
With a degree in Economics and Computer Science from the University of Southern California and a master’s degree in computer science from Stanford, USA, Mudassir Sheikha, co-founder & CEO of Careem, initially joined Trilogy Software followed by a role at Brience, a San Francisco-based mobile experience start-up in March 2000. This was followed by a leadership role at DeviceAnywhere in Pakistan, where he steered its offshore development centre. Later, Keynote Systems acquired DeviceAnywhere.
He joined Dubai’s McKinsey & Company office and four years later, he partnered with his former McKinsey colleague Magnus Olsson to launch a new business to help simplify the lives of people in the Middle East. In 2012, the duo went on to launch Careem which evolved into a leading technology platform for the region. It was later acquired by Uber for $3bn in 2020. In Dubai, Careem provides customers 11 services, including payments, food and grocery delivery, ride-hailing, micro-mobility, payments, and more.
The first everything app
In April 2023, e& invested $400m to become the majority shareholder in Careem’s Super App, in collaboration with Uber and all three of Careem’s co-founders. Careem’s Super App is a versatile platform that offers a wide range of services, including food and grocery delivery, micro-mobility solutions, digital wallet services, a suite of fintech offerings, and an array of third-party services such as home cleaning, car rental, and laundry.
With this significant investment, Careem intends to accelerate the realisation of its ambitious vision to create the first ‘everything app’ catering to customers throughout the Middle East. This expansion includes the enhancement of core services in food, grocery, fintech, and the Careem Plus subscription programme across the region. Additionally, more partner services will be integrated into the app.
Careem aims to leverage e&’s extensive customer base and expertise in scaling complex tech-enabled businesses, particularly given their shared geographic footprint. The Careem Super App will play a pivotal role in boosting the growth of e&’s consumer digital services. This includes the expansion of e& life’s fintech arm, e& money, which is set to contribute significantly to the super app vision by offering powerful financial services. By making this strategic investment, Careem plans to accelerate the expansion of its Super App across the Middle East, North Africa, and South Asia.
In September 2023, Careem signed a significant agreement with Sultan, a prominent retail grocery chain in Kuwait, with the aim of enhancing transportation services for shoppers in the country.
Under the terms of this agreement, Careem will extend a 30 percent discount to Kuwaiti residents, locals, and visitors who use their services to travel to and from any Sultan branch located across Kuwait. This discount is available for use up to four times every month, except the Sultan Express stores. Careem, which initiated its operations in Kuwait back in 2016, has consistently forged valuable partnerships with local retailers and shopping destinations in the region.
Company: Noon
Country: UAE
Previously appointed in the role as the co-founder and managing director of Namshi, Faraz Khalid, CEO of noon.com is backed by a wealth of experience and practical knowledge in building, launching, and scaling successful e-commerce enterprises in the region.
Noon.com, a venture that stands as a collaboration between KSA’s Public Investment Fund (PIF) and Mohamed Alabbar, was established with a core mission to foster an ecosystem of regionally rooted digital enterprises, serving the Middle East, and safeguarding its digital future.
Educated with an MBA from The Wharton School in the US, prior to assuming his role at noon.com, he co-founded and served as the managing director of Namshi, a prominent e-commerce start-up and the leading fashion online retailer in the Middle East. Armed with proven expertise and practical knowledge in establishing, launching, and scaling successful e-commerce ventures in the region, Khalid leads a dedicated team of professionals in overseeing the day-to-day operations of noon.com.
Noon.com is empowering local businesses
The consumer platform of noon.com made its debut in KSA in December 2017 and has since evolved into the leading online shopping destination in the region. Today, noon.com operates in KSA, the UAE, as well as in Egypt.
Boasting homegrown technological capabilities, noon.com primarily operates as a digital e-commerce platform and has rapidly developed extensive native expertise across its marketplace, fulfilment, logistics, and payments systems and serves as a proud digital ambassador for the region. Noon.com has launched noon Pay, a P2P payment service that offers ease, security, and flexibility to users in KSA and the UAE. Individuals can transfer noon credits to anyone, anytime, with secure transactions.
In Q1 2023, noon.com completed its acquisition of the UAE-based fashion shopping platform Namshi, which was founded in 2011 by Faraz Khalid, Hisham Zarka, Hosam Arab, Louis Lebbos and Muhammed Mekki as an online e-commerce site offering footwear and apparel fashion brands.
This acquisition will expand noon’s digital ecosystem of products and services to include more fashion and lifestyle offerings for consumers. Their collective dedication is centred on the goal of creating a cutting-edge platform that not only empowers local businesses to enhance their competitiveness but also serves as a catalyst for driving innovation and fostering entrepreneurship.
On 14 September 2023, the Dubai Chamber of Commerce, one of the chambers operating within the Dubai Chambers umbrella, joined forces with Noon to organise a special webinar. The primary objective of this collaboration was to raise awareness among local SMEs about the advantages of establishing an online presence.
By doing so, they aim to bolster ecommerce sales and expand the digital footprint of businesses based in Dubai, and part of the chamber’s ongoing initiatives to support the growth and long-term viability of businesses in Dubai. The webinar was thoughtfully designed to provide SMEs with valuable insights and tools essential for establishing and enhancing their online presence. It addressed strategies for driving increased sales through digital channels, aligning with the shifting preferences of consumers.
media
Company: Starzplay
Country: UAE
Considered the UAE’s homegrown equivalent of Netflix, STARZPLAY Arabia was co-founded by Maaz Sheikh who now holds the position of CEO. It stands as a subscription video-on-demand streaming service offering a variety of content, including films, documentaries, TV shows, and Arabic programming. This content is available in four languages across the MENA region and Pakistan.
By collaborating strategically with global studios such as Warner Bros, Universal, Discovery, and 20th Century Studios, among others, STARZPLAY Arabia has firmly established its position as a regional source for the latest content. Prior to co-founding STARZPLAY, Sheikh held the role of the chief sales and operations officer at OSN from 2007 to 2014, and this was preceded by two years in the role as the vice-president, Worldwide Sales & Marketing, as well as the role of vice-president, Sales & MarketingV at Virtela Communications- NTT Communications.
Transforming online viewing content
STARZPLAY stands as the ultimate destination for uninterrupted entertainment and year-round live sports. With an impressive 2.9 million subscriptions and a commanding 20 percent market share, as reported by Omdia in 2022, it ranks among the top three streaming platforms in the MENA region.
With fresh new content each day sourced from leading global studios including Showtime, Paramount+, STARZ, discovery+, DC, Universal Studios, Warner Bros, and many more, the offerings range from premium STARZPLAY Originals to locally crafted originals such as Kaboos and Million Dollar Listing UAE. There is also an option for direct-from-cinema movie releases and providing access to the extensive WATCH IT library.
Moreover, STARZPLAY is the ultimate destination for anime enthusiasts, boasting iconic franchises like Demon Slayer, Naruto, and Attack on Titan. StarzPlay offers extensive sports viewing with Italian football; CricLife for all things cricket; and also streams UFC fights, the NBA League Pass, AEW Wrestling, and much more.
Since its launch in 2015, STARZPLAY secured financial backing, accumulating more than $125 million in funding from entities like Lionsgate, State Street Capital Group, and SEQ Capital. Further strengthening its financial foundation, STARZPLAY Arabia secured its inaugural independent debt financing of $25m through a partnership with Abu Dhabi-based Ruya Partners in 2021.
Today, e& Group, one of the world’s largest telecom operators, and ADQ, one of Abu Dhabi’s sovereign wealth funds, jointly hold a majority equity stake in the venture. The remaining equity is distributed among entities, including STARZ (www.starz.com), a subsidiary of Lionsgate (NYSE: LGF.A, LGF.B), the General Electric Pension Trust, and technology investors SEQ Capital Partners and Delta Partners.
On 18 August 2023, STARZPLAY launched STARZPLAY Fantasy Sports, a pioneering game in the MENA region. The platform’s fantasy sports game allows players to make predictions around live Serie A matches and other regional leagues, such as forecasting scores and possession percentages and identifying the scorer of a game’s first goal. Players can win prizes such as in-game currency, which can be used to buy NFTs or redeemed for STARZPLAY subscriptions, and more.
Company: Choueiri Group
Country: UAE
Choueiri Group, established by Antoine Choueiri over four decades ago, began as a family-owned enterprise. Leading the helm today, his son Pierre Choueiri, currently the chairman & CEO, joined the company in 1987, following the completion of his bachelor’s degree in economics from The American University of Beirut, Lebanon. He embarked on his media career journey initially with Al-Ain Media management in 1988.
He then ventured to Tihama MEMS and Regie Vision before making a pivotal move in 1994 by relocating to Dubai where he laid the foundation for Choueiri Group’s most prominent group of companies and associated media partners. He began his journey as the managing director and gradually ascended to the role of CEO, eventually taking over his current position in 2010.
Choueri Group drives impactful brand outcomes
The success of Choueiri Group is deeply rooted in forward-thinking strategies and an unwavering commitment to family values. The group’s achievements are not solely attributed to strategic partnerships but are also a testament to the dedication of its professional teams. With a versatile portfolio boasting over 50 media entities across TV, radio, print, OOH, digital, cinema, and offering cutting-edge data, technology, and content capabilities, the group empowers brands to achieve impactful outcomes across a myriad of platforms.
It boasts a TV MENA reach of 27 million, a digital reach of 98 million, over 100 partners, and operates in 11 markets. Key companies under its umbrella include Arabian Media Company, Arabian Outdoor, Diginet Arabia, Times Int’l, among others. The group’s global presence is further reinforced by offices in Abu Dhabi, Dubai, Cairo, and Riyadh, in addition to representative offices in Paris, Tokyo, and Warsaw, all underscoring its enduring commitment to innovation and excellence.
In January 2023, Choueiri Group’s division, Digi Net Arabia FZ-LLC (DNA), made a significant announcement. DNA is now the exclusive media representative for Alsumaria TV Network in Iraq. This strategic partnership is slated to span an initial five-year period. During this tenure, DNA will be entrusted with the commercial advertising sales across various media platforms for the prominent Iraqi media conglomerate, encompassing Alsumaria TV, SUMER FM, Alsumaria News, and Alsumaria App.
Founded in 2010 as Choueiri Group’s official digital arm, Digital Media Services (DMS) has established itself as the voice of independent publishers in the region. DMS represents over 45 Arabic language websites and has a presence in six regional markets. With strategically located offices in the UAE, KSA, Kuwait, Egypt, Lebanon, and Jordan, DMS recently forged an exclusive partnership with DIVISION, the region’s pioneering esports and gaming marketplace.
With this collaboration, DMS has been entrusted with the exclusive advertising sales representation for DIVISION, granting it sole rights to all advertising sales generated on the gaming talent marketplace. Leveraging decades of experience in ensuring digital performance through data analytics and driving platform growth via media sales, DMS is poised to support DIVISION’s journey towards further innovation and success.
Company: ASDA’A BCW
Country: UAE
Sunil John is a prominent figure in the realm of communications, serving as the founder and the CEO of ASDA’A BCW. Beyond this role, he holds the position of the president for the MENA region at BCW (Burson Cohn & Wolfe), a renowned global communications consultancy under the umbrella of WPP (NYSE: WPP). In addition to his leadership at ASDA’A BCW, John also lends his expertise to two wholly-owned subsidiaries, namely, Proof Communications, a specialised digital and design firm, as well as OnePoint5, an ESG advisory.
With a robust career spanning over two decades, John has been an influential force in the Middle East’s public relations sector. He laid the foundation for ASDA’A in 2000, a pivotal moment that marked the agency’s transformation into a leading public relations consultancy in the Arab world. His advisory prowess extends to governments, multinational corporations, and both global and local businesses.
In 2008, WPP Group acquired a controlling interest in ASDA’A BCW, further solidifying its position in the industry. As a trailblazer in the Middle East’s PR landscape, he plays a pivotal role in driving the annual ASDA’A BCW Arab Youth Survey, a thought leadership initiative initiated in 2008. Today, this survey holds a distinguished status as one of the most frequently referenced sources of public opinion research on the region, capturing the attention of global media and policymakers alike.
About ASDA’A BCW
Founded in 2000 as an independent agency by Sunil John, ASDA’A has continued its journey under his leadership into its 24th year. In 2008, WPP (NYSE: WPP) acquired a majority stake in ASDA’A and merged it with BCW (Burson Cohn & Wolfe), one of the world’s top three communications firms.
The agency boasts a dedicated team of over 200 professionals operating across its seven wholly-owned offices. Additionally, ASDA’A BCW’s reach extends to 11 affiliates, collectively covering 16 countries across the MENA region. The agency serves a diverse portfolio of over 100 retained clients and stands as the leading PR consultancy in the MENA region.
ASDA’A BCW is renowned for pioneering and executing creative and integrated communications campaigns. Their portfolio includes the notable achievement of launching iconic projects such as Burj Khalifa, securing the position of the sole Agency of Record for the successful Expo 2020 and UAE COP28 bids, and spearheading the launch of Saudi giga-projects like Red Sea Global.
Also through its subsidiaries, Proof Communications and OnePoint5, ASDA’A BCW offers integrated and creative solutions. Just some of their key clients include prestigious names like DIFC, e&, Emirates NBD, Huawei, Nakheel, Abu Dhabi Department of Culture and Tourism, Samsung, Saudia Cargo, UAE Ministry of Climate Change & Environment, Ras Al Khaimah Media Office, Red Sea Global, among many others.
The agency’s comprehensive services span multiple segments including consumer engagement, corporate communications, data analytics, design and branding, digital marketing, enterprise ad technology, ESG strategy & reporting, finance, healthcare, public affairs, research, social media, and more.
Company: Bates Pan Gulf
Country: UAE
With over 40 years of experience across education, media, marketing services, private equity, government sectors, and real estate direct investments, Avi Bhojani, CEO of Bates Pan Gulf, has been at the helm of BPG since 1991. He has overseen the group’s diverse interests across advertising, public relations, design, activation, media asset management, and digital domains in the MENA region.
Notably, Bhojani has played a pivotal role in conceptualising and executing strategic initiatives in Dubai, such as the Dubai Quality Award and Dubai Shopping Festival. His contributions extend to serving the government of Dubai in developing Knowledge Economy hubs, focusing on areas like the internet, media, and ideas.
Bhojani holds multiple significant roles, including the managing director of Innoventures Education, responsible for Dubai International Academy and various Raffles Schools and nurseries. Additionally, he is the general partner of AMEA Ventures Ltd, a Partner/Director of HTMi Switzerland Dubai LLC, and chairman of International Management Ventures FZ LLC.
About BPG Group
BPG Group is one of the larger regional marketing communication solution companies and a member of WPP, the world’s largest MarCom group. The group’s deep cultural insights and the values has enabled them to execute award-winning work for brands across the UAE, KSA, Kuwait, Qatar, and the wider region.
With a rich three decades history, BPG 1.0 launched in 1995 after bagging a mandate to build and execute the Dubai Shopping Festival from the Dubai government, followed by BPG 2.0 after winning mandates for public advocacy in Iraq, while BPG 3.0 arrived after a key gain in KSA. Big wins in 2023 include a remit from Jumeirah Group; Titan Eyewear; Assima Hospital; Ooredoo Telecom; and the Zayed Sustainability Prize in the UAE.
The brand has launched its virtual headquarters, BPGverse, an in-house digital reality space for interactions and engagement between agency teams, clients, and brands. Their current and past clients include iconic regional and global brands spanning diverse industry sectors: retail, banking & finance, automotive, real estate, government, F&B, technology, tourism & entertainment, and telecom.
BPG has recently reported strong growth figures as it enters Q4 2023, coupled with a series of significant strategic victories for its specialised MarCom services spanning the UAE, Kuwait, KSA, and Oman. BPG’s strategic approach, characterised by a strong focus on digital-first principles and integrated strategies, has yielded remarkable results, with revenue soaring by more than 50 percent, reaching an annualised range of $13m to $15m.
Throughout the year, BPG has successfully secured sought-after regional contracts, adding renowned brands like Trojena – The Mountains of NEOM, Wasl, Darna Rewards by Aldar, Uber, Talabat Kuwait, and others, significantly expanding its diverse portfolio.
Drawing upon its extensive expertise in finance and banking, BPG has secured strategic branding projects for First Abu Dhabi Bank. Additionally, the agency has clinched new contracts from Bank Dhofar, RAKBANK, and Sohar International Bank, the latter of which recently acquired HSBC in Oman.
Company: MBC
Country: Saudi Arabia
Sam Barnett, the CEO of MBC Group, has steered the company upward to become the MENA region’s largest and most influential media company, dedicated to enriching lives through information, engagement, and entertainment.
As the first private, free-to-air satellite broadcaster in the Arab world, MBC Group was launched in London, UK, in 1991 and later shifted its headquarters to Dubai in 2002, bringing with it 200 staff. In September 2022, MBC Group unveiled its new headquarters in Riyadh, KSA. Barnett joined MBC Group in 2002 as the director of operations followed by his role as the chief operating officer and then his current role in November 2011.
About MBC
The strength of MBC Group lies in its diverse portfolio of over 17 leading TV channels, each tailored to cater to a wide spectrum of audience preferences. These channels encompass a variety of genres, including general family entertainment, round-the-clock access to Western movies, children’s edutainment featuring a mix of local productions and Western acquisitions, entertainment geared towards young families with a focus on female-oriented content, and an adrenaline-packed channel with a primary appeal to young males, highlighting local and homegrown productions.
The group also offers a channel dedicated to Western films and general entertainment with uninterrupted broadcasting, a channel that delivers a continuous stream of Arabic drama content, and a joint pay-TV channel operated in collaboration with OSN.
Furthermore, MBC Group extends its reach by delivering general family entertainment content that is dubbed and subtitled in Farsi, operating a 24-hour Arabic music channel, and caters to the growing demand for Bollywood content in an Arabic format.
Complementing its extensive TV channels, MBC Group operates MBC Studios, known for producing some of the region’s most compelling premium content for cinema, television, and on-demand platforms. The group also manages two FM radio stations: one specialising in Gulf music and the other offering contemporary Arabic hit music.
Beyond television and radio, MBC Group is the home of Shahid, the world’s foremost Arabic streaming platform. Shahid is renowned for its highly acclaimed original productions from the Arab world, a wide-ranging selection of exclusive movies and premieres, and access to the most-watched live Arab TV channels, establishing it as an all-encompassing destination for enthusiasts of Arabic content.
In September 2023, MBC Group announced its venture into the world of Arabic-language musical productions. Breaking new ground in the MENA region, ‘Sukkar’ is a musical spectacle scheduled for release across the MENA region on 12 October 2023, courtesy of Empire Entertainment, a distinguished leader in movie distribution in the region. With a soundtrack featuring original songs, ‘Sukkar’ takes its creative inspiration from the renowned epistolary novel, ‘Daddy-Long-Legs,’ by American author Jean Webster.
Under the direction of Tamer Mahdy, ‘Sukkar’ boasts a stellar cast led by Hala Turk as well as multiple emerging talents hailing from the GCC and the Middle East, including Yasmina El Abd, Hajar Mohammed, Wedeema Ahmad, Maria Jumaah, Moataz Hesham, and more.
Diversified
Company: Mulk International
Country: UAE
Shaji Ul Mulk, the visionary founder and chairman of Mulk International Group, embarked on his entrepreneurial journey in 1982 when he laid the foundation for his enterprise. Today, the group is recognised as a distinguished global entity, celebrating four decades of success.
Its diversified portfolio encompasses four primary sectors which includes the manufacturing of metal composite panels and LGS homes, real estate ventures, sports assets, as well as healthcare initiatives. With a net worth exceeding $2bn, the group has earned accolades such as the prestigious Sheikh Mohammed bin Rashid’s MRM award which recognised the group for being the UAE’s premier foreign manufacturer.
Dedication to innovation and excellence
At the forefront of global manufacturing, Mulk International Group’s flagship product, the ‘ALUBOND’ metal composite panel, has propelled the organisation to the pinnacle of success. It holds the title of the world’s largest manufacturer of aluminium composite panels, boasting an installed capacity of 25m2 and a global presence spanning over 100 countries.
Aligned with the group’s visionary goals, the Alubond LGS building system is currently revolutionising the construction industry by replacing traditional timber with light gauge steel. This revolutionary technology has secured projects worth over $250m in the US and the UK, with Zim Cyber City being a prime example of its disruptive potential. This innovative approach results in a 30 percent reduction in materials cost and a 50 percent reduction in man-hours.
In 2010, Mulk International Group expanded its horizons into the healthcare industry, introducing a range of healthcare services that have left an indelible mark. The establishment of physiotherapy centres, telemedicine facilities, and diagnostic clinics across the region has led to the creation of Mulk Med Healthcare, a trailblazing telehealth ecosystem provider.
It recently soft-launched Mulk Med Healthcare Virtual Hospital, an ambitious endeavour that seamlessly merges various ICT verticals with cutting-edge healthcare solutions. The Mulk Physiotherapy & Home Care Centre focuses on physiotherapy and rehabilitation, while Global Hawk Imaging and Diagnostics offer an advanced open MRI that allows patients to connect with specialist doctors from around the world.
Inculcating a cricketing legacy, Mulk International Group has achieved global recognition for pioneering the fastest cricketing format known as ‘T10 cricket league.’ Launched in 2017, this cricketing sensation has evolved into a global brand, with franchise cricket leagues hosted in the UAE, Africa, USA, Sri Lanka, Europe, and India, boasting a combined viewership of over one billion.
Now venturing into real estate, currently, the group is making significant investments in a $500m real estate project in Zimbabwe, aptly named The Zim Cyber City. This sprawling 46,000 sq m landmark project is managed through its locally registered subsidiary, Zimbabwe Global Investments (ZGI), operating under the Special Economic Zone (SEZ) programme approved by President Emmerson Mnangagwa.
Located in Mount Hampden, New Harare, this state-of-the-art mixed-use development promises to create an affluent community and plans to offer an unparalleled standard of living, complete with duty-free shopping amenities.
Company: Ghassan Aboud Group
Country: UAE
Ghassan Aboud, known for his philanthropy and entrepreneurial prowess in the UAE, is the founder and chairman of the Ghassan Aboud Group. His journey is marked by an entrepreneurial spirit, as he ventured into industries brimming with untapped potential. His relocation to the UAE in 1992 marked a turning point, and his early career as a journalist in the 1990s ignited his interest in the burgeoning field of re-exports.
After a brief stint in the media industry, he recognised the opportunities within Dubai for international traders. Over approximately three decades, what had begun as a modest automotive trading endeavour has evolved into a thriving conglomerate that now extends its influence across a diverse range of sectors and has a presence in over 10 countries.
GAG overview
With a workforce of over 2,500 employees, a presence in more than 10 countries, and a diverse portfolio of 16 companies, GAG operates across a wide spectrum of industries. These include catering, healthcare, digital marketplaces, hospitality, logistics, automotive, retail, media, as well as FMCG.
Today, GAG stands as an international conglomerate, earning respect for its numerous esteemed brands in various sectors, both globally and within the region. Embracing 21st-century principles such as digital transformation, sustainability, customer centricity, and reliability, GAG’s robust automotive portfolio positions it as an exporter to over 100 countries, leveraging its 27 years of experience and innovative digital solutions. It also offers food and FMCG services through its subsidiaries. Beyond Dubai, Ghassan Aboud Group maintains additional offices in Egypt, Jordan, Turkey, Belgium, and Australia.
The group’s journey began with the founding of Live Point Art Production in 2008, followed by the establishment of the five-star hospitality group Crystalbrook Collection in Australia in 2016. This hotel development and management company has made a significant impact on the Australian hotel landscape through strategic acquisitions of key resorts and hotels. In the retail and logistics sectors, GAG’s Grandiose Supermarket is known for responsible practices, while its supply chains provide storage, transportation, and supply chain solutions as a 3PL partner.
Under Aboud’s guidance, the group ventured into digital e-commerce with the launch of its B2B marketplace, BuyGro, in 2020 in the UAE. In the automotive sector, the group owns and operates a range of companies that collectively serve customers in over 100 countries, catering to various automotive needs, from used cars to lubricants and auto parts.
The group has also entered two significant public-private partnerships with the Abu Dhabi Ports Group: the Abu Dhabi Food Hub, KEZAD, and the Global Auto Hub. These projects cover a vast area of 3.3 km2 each and are set to create fully-fledged ecosystems for the food and automotive industries.
In healthcare, GAG adheres to international standards, providing patient-centric care enhanced by technological innovation. In the media sector, the group empowers businesses in arts, media, and journalism. Innovative digital marketplaces uplift regional and global SMEs, boosting profitability, reducing costs, and facilitating seamless transactions.
Company: DP World
Country: UAE
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, and chairman of the Ports, Customs & Free Zone Corporation, has played a pivotal role in Dubai’s growth. His influence extends to the development of regional free zones, ports, and infrastructure, contributing significantly to the UAE’s upward growth trajectory. His multifaceted roles include serving as a board member of the Dubai Executive Council, chairman of Virgin Hyperloop One, and the chairman of the UAE Federal Tax Authority.
His achievements demonstrate his ability to lead transformational ventures, including his instrumental role in DP World’s international expansion. Under his guidance, DP World acquired the P&O Group for $6.8bn in March 2006, solidifying its position as one of the world’s largest port operators with a global presence across 78 marine and inland terminals on six continents. Bin Sulayem’s vision also transformed the Jebel Ali Free Zone (Jafza) into a thriving business hub hosting over 7,300 companies.
Additionally, his foresight led to the creation of Nakheel, responsible for iconic Dubai landmarks such as The Palm. His other key accomplishments include founding and leading Istithmar World which focused on private equity investments spanning North America, Europe, Asia, and Middle East. Additionally, he played a key role in the establishment and guidance of the Dubai Multi Commodities Centre (DMCC).
About DP World
Leveraging over three decades of experience, DP World’s proficiency in managing free parks and zones is exemplified by the Jebel Ali Free Zone in Dubai. This success story has been replicated in key international locations, evidenced through their ownership, development, and operation of a diverse infrastructure portfolio, including industrial parks, inland cargo depots, special economic zones, and specialised facilities worldwide.
With a presence in 80 terminals and economic zones globally, DP World stands at the forefront of intelligent logistics delivery, offering tailored solutions for various industry sectors, making logistics transparent, accessible, and cost-effective. DP World emerges as a strategic force in supply chain solutions, providing a suite of services encompassing third-party logistics (3PL), container services, and automated customs clearance and brokerage.
DP World is reshaping the future with innovations in terminal handling, designed to optimise their global network of ports and ensure the seamless flow of goods. Innovations like BoxBay, their intelligent High Bay Storage (HBS) system, are disrupting conventional practices by boosting terminal handling speed, energy efficiency, and safety while reducing operating costs. DP World has harnessed technology to transform their business operations significantly. This includes the implementation of hyperloop delivery systems and the adoption of automated warehouse stacking.
Additionally, DP World extends its technological influence on the realm of freight forwarding through the digital freight alliance. This initiative offers web-based tools to enhance the visibility and appeal of freight forwarders’ services globally, promoting networking and collaboration among industry stakeholders. Beyond these efforts, DP World’s technological contributions include the innovative World Logistics Passport which establishes a framework for creating new trade opportunities, reducing trade barriers, and fostering cross-border cooperation.
Company: GMG
Country: UAE
With an illustrious 46-year legacy, Mohammad A. Baker, the deputy chairman and CEO of GMG, is not just a leader; he’s a visionary on a mission to redefine success within the global business community. He is leading the company into a new era by inspiring people including today’s youth to win in all they do and live in ways that make the world a better place. Under his dynamic 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 a testament to 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 population and has launched several initiatives to support their growth. He was influential in promoting healthier lifestyles across schools in the UAE by working closely with the government and pushing sports and active living into the curriculum.
Diversified portfolio
Baker’s creative genius has given birth to influential home-grown brands, including Sun & Sand Sports, Basketbolista, Nu Athlete, and Dropkick. In July 2023, GMG inked a transformative franchise agreement with the renowned UK-based global sports retailer JD Sports, thus bringing its brilliance to the Middle East. GMG partners with the world’s most famous sports brands, including Nike, Vans, and Columbia. Earlier this year, GMG also successfully launched nike.ae and nike.sa for regional customers.
GMG’s ‘farm-to-fork’ approach
Baker has orchestrated a comprehensive presence across the entire food consumption chain in alignment with GMG’s visionary ‘farm-to-fork’ approach and commitment to the UAE’s National Food Security Strategy 2051.
GMG has built state-of-the-art food manufacturing facilities, an expansive food retail network, and distribution of coveted international brands. These world-class facilities are fortified by a state-of-the-art R&D kitchen and food laboratory, encompassing six diverse product lines covering meat, seafood, Himalayan pink salt, herbs and spices, sausages and cold cuts, butchery, and marination.
Under Baker’s strategic vision, GMG marked its foray into the food retail industry in April 2022 by acquiring the Middle Eastern operations of Groupe Casino’s prestigious brands, namely Géant, Franprix, Monoprix, and Monop.
Engineering rapid growth by acquisition and global expansion
GMG’s relentless pursuit of excellence continued with the acquisition of aswaaq LLC, solidifying its position as one of the UAE’s largest community mall operators. The group has also enriched its health portfolio within the UAE, introducing innovative concept stores such as Supercare, Arabella, Glu, and Good Health, contributing to a remarkable 40 percent retail footprint growth in the UAE in 2022.
Moreover, GMG’s global footprint is expanding rapidly. Baker’s vision sees GMG opening 100 stores in Southeast Asia by 2025. Meanwhile, the company is leaving its mark across the MENA region, with successful market entries into Egypt and Iraq in 2022.
Baker’s leadership exemplifies a profound commitment to excellence, innovation, and positive global impact in every move and expansion, steering GMG toward an even brighter future.
Company: Easa Saleh Al Gurg Group
Country: UAE
As the chairperson and managing director of the Easa Saleh Al Gurg (ESAG) Group, Dr. Raja Al Gurg is a distinguished leader whose leadership journey is deeply rooted in the legacy of her late father, Easa Saleh Al Gurg, the visionary founder of ESAG Group. She is widely acclaimed for her unwavering commitment to empowering Arab women entrepreneurs and her substantial contributions span across various sectors.
Her fervent dedication to advancing women in the business world is epitomised by her role as the founder of the Dubai Businesswomen Council, an organisation dedicated to nurturing and championing women in entrepreneurship. She is also a valuable member of the board of directors of Dubai Chambers, where her insights and expertise are highly regarded.
Her commitment to education and healthcare is evident through her roles as the vice chairman of the boards at the National Bank of Fujairah and Mohammed Bin Rashid University of Medicine and Health Sciences (MBRU). Additionally, she holds the position of vice chair at the University of Dubai. Beyond her national contributions, Dr. Al Gurg lends her valuable insights to the advisory board of Coutts Bank, the wealth division of the Royal Bank of Scotland Group.
Her philanthropic efforts are extensive, as she plays a pivotal role as chairperson of the board of directors of the Al Jalila Foundation and through the ESAG Charity Foundation. In 2022, Dr. Al Gurg assumed the prestigious role of Honorary Pro-Chancellor at Heriot Watt University, further underscoring her commitment to education.
About ESAG Group
ESAG Group stands as one of the UAE’s most prominent family-owned businesses, boasting a diverse portfolio of over 30 companies. Rooted in a rich history dating back to 1960, the group has forged enduring partnerships with key brands, spanning a wide spectrum of industries and consumer sectors.
In its formative years, ESAG served as an exclusive trading partner for well-established consumer brands such as Grundig and Siemens. Today, it has evolved into a multifaceted conglomerate, with interests spanning retail, building materials, industrial ventures, and real estate. ESAG’s core strengths, along with its dedication to delivering value-added products and services, lie at the heart of its flourishing relationships with both partners and customers.
Through a strategic combination of targeted acquisitions and organic growth, ESAG has positioned itself for sustained expansion into new markets. Among its notable joint ventures are Al Gurg Unilever, Siemens, Al Gurg Fosroc, Al Gurg Smollan, Akzo Nobel Decorative Paints, Siemens Healthcare, Siemens Mobility, and Links Insurance Brokers.
Since the group’s inception, the ESAG Group has strategically invested in over 30 companies and forged 10 joint ventures across various industries in the UAE, KSA, and Oman. ESAG’s investment strategy is firmly anchored in the UAE and the wider GCC region, and their dedicated investment team collaborates closely with portfolio companies, aiding them in new crafting strategies, ensuring sustainable cash flow, fostering joint purchasing initiatives, and developing cross-selling programmes.
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