Many Middle Eastern CEOs come from the region’s traditional strongholds – oil and gas. These industries have been the backbone of the economy for decades. Leaders such as Amin Nasser, CEO of Saudi Aramco, exemplify the role of stewarding vast natural resources while transitioning to more sustainable energy practices. Nasser’s leadership focuses on leveraging technology and innovation to enhance efficiency and sustainability, guiding the company through volatile oil markets and into new energy domains.
Aviation and innovation
As the Middle East seeks to diversify its economies away from oil dependency, business leaders such as Paul Griffiths, CEO of Dubai Airports, lead by example. He has transformed DXB into a global transport powerhouse, emphasising infrastructure development and strategic innovation. His vision extends beyond boundaries, demonstrating how Middle Eastern companies can compete on a global scale.
Financial sector pioneers
In the financial sector, leaders including Abdul Aziz Al Ghurair, Chairman of Mashreq Bank, have driven financial technology and modernisation. He has been instrumental in advancing digital banking and financial services, ensuring that the sector keeps pace with global advancements. His leadership highlights the importance of embracing fintech to cater to a younger, tech-savvy population.
Real estate visionaries
Real estate is another critical sector in the Middle East, with cities like Dubai and Abu Dhabi symbolising rapid urban development. Mohamed Alabbar, founder of Emaar and Noon, has been a prominent figure in this transformation. Alabbar’s vision has led to the creation of iconic skyscrapers and luxury developments, positioning Dubai as a global real estate hub. His ability to anticipate market trends and adapt to changing economic conditions underscores the strategic foresight required in this competitive industry.
Technology and communication
The rise of the tech industry in the Middle East has been spearheaded by leaders such as Hatem Dowidar, Group CEO of regional giant e&. Dowidar’s journey reflects the region’s growing emphasis on technology and communication. His success story inspires a new generation of entrepreneurs, demonstrating the potential for home-grown tech companies to achieve international acclaim.
Female leadership
Women leaders in the Middle East are breaking barriers and setting new standards across various industries. Lubna Olayan, CEO of Olayan Financing Company, is a trailblazer in Saudi Arabia’s corporate world. She has been a vocal advocate for women’s participation in the workforce, driving significant cultural and economic shifts. Similarly, Noor Sweid, Founder & Managing Partner of UAE-based international venture capital firm Global Ventures, has made substantial contributions to the UAE’s business landscape.
Social responsibility
Modern Middle Eastern CEOs often emphasise social responsibility and sustainability. They understand that long-term success involves addressing environmental and societal challenges. Hotelier Kabir Mulchandani, founder of FIVE, advocate for philanthropy and sustainable development. Mulchandani’s charity work underscores the importance of ethical leadership in today’s business environment.
Global influence
Middle Eastern CEOs are increasingly influential on the global stage, participating in international forums and collaborating with global leaders. Their ability to navigate complex geopolitical landscapes while driving business growth makes them pivotal players in the global economy.
Their leadership, vision, and adaptability are driving economic diversification, technological advancement, and sustainable growth, positioning the region as a key player in the global business arena.
Name: Abdul Aziz Al Ghurair
Designation: Chairman
Company: Al Ghurair Investment
Industry: Diversified
In addition to his current role, Al Ghurair also holds the directorship of the Abdullah Al Ghurair Group of Companies, a business legacy with a presence in over 20 countries and over 50 years of history. Before his role as the chairman of the board of directors at Mashreq Bank, he spent around three decades as the bank’s CEO. He is also on the board of directors of his family’s extensive Abdulla Al Ghurair Group, a venture that spans numerous countries.
Throughout his career, he has held vital positions on the boards of entities like Mastercard, Visa International, Dubai Investments, Emaar, and the Dubai Chamber of Commerce and Industry. His leadership extended to co-chairing the Arab Business Council-World Economic Forum (WEF), showcasing his influence in global economics.
Al Ghurair’s commitment to advancing knowledge is evident in his role as a board member of trustees at New York University, USA. He has also contributed to the Consultative GCC Council for the GCC Leaders and held the position of the president of The Knowledge Fund.
Established in 1960 and headquartered in Dubai, Al Ghurair Investment (AGI) spans six industry sectors. With operations expanding across over 50 countries and a workforce of around 28,000 individuals, AGI has become a driving force in multiple domains.
As a prominent diversified family business group in the UAE, AGI has been named a Top Employer in the country for the second consecutive year by the Top Employers Institute. This recognition reflects the group’s ongoing efforts to create a supportive environment for learning and employee development, in alignment with Sustainable Development Goal 8 (SDG 8) – promoting decent work and economic growth.
The Top Employers Institute programme evaluates organisations based on their HR Best Practices Survey results, covering six HR domains and 20 topics such as People Strategy, Work Environment, Talent Acquisition, and Wellbeing. Al Ghurair’s acknowledgement underscores its commitment to unleashing the full potential of its workforce, as evidenced by positive feedback from a recent company-wide people opinion survey highlighting transparency and effective alignment of people strategies with business objectives.
In the past three years, Al Ghurair has embarked on a transformation journey, incorporating the ‘Fit for Future’ model into its ‘Employee Value Proposition’ and talent strategy to support employee engagement and advancement. This programme, in line with the group’s focus on SDG 8, aims to enhance skills and career paths across its diverse talent pool. Initiatives such as Executive Leadership Development and Advanced Leadership Development Programmes have been successful in driving professional growth, with participants amassing over 6,000 learning hours.
Furthermore, Al Ghurair’s commitment to advancing Emirati talent through a robust Emiratisation programme underscores its dedication to fostering diversity and empowering local individuals within the organisation. Through internal initiatives and strategic partnerships with key entities in the UAE, the group has created opportunities for Emiratis to thrive within the company.
Name: Adel Ali
Designation: CEO
Company: Air Arabia
Industry: Aviation
Widely recognised as a trailblazer in the advancement of modern aviation, Ali has contributed to the air transport and tourism sector in the broader Arab world, particularly for his role in establishing Air Arabia in October 2003, the first low-cost carrier (LCC) in the MENA region. As the visionary behind Air Arabia, Ali steered its growth to become the largest low-cost carrier in the MENA region. It also became the first publicly owned airline in the Arab world, holding the title of the region’s largest by market value.
Leveraging his extensive 28 years of experience with industry giants such as Gulf Air and British Airways, he guided Air Arabia to establish itself as one of the world’s best-run low-cost carriers, consistently achieving profitability consecutively. Ali’s leadership has strengthened Air Arabia’s business model, facilitating the expansion of operations, entry into new ventures, and diversification into additional revenue streams. Presently, the group boasts a successful portfolio of businesses and projects, offering travel, tourism, and hospitality services globally.
In addition to his present executive responsibilities, Ali assumes the distinguished role of chairman at various entities, including Sharjah Information Systems Associates, Alpha Sharjah Catering, Alpha Aviation Academy, and Cozmo Travel. Moreover, he brings his expertise to the board of Sharjah Aviation Services, where his strategic insights contribute to the growth and development of the aviation sector.
Furthermore, Ali occupies board positions within Air Arabia subsidiaries, showcasing his commitment to diverse aviation ventures. He lends his guidance and leadership acumen to Air Arabia (Maroc) stationed at Casablanca’s Mohamed V International Airport, and also plays an instrumental role at Air Arabia (Egypt) located at Alexandria’s Burj Al Arab International Airport, ensuring operational excellence and driving strategic initiatives to enhance the aviation landscape. These varied roles underscore Ali’s multifaceted contributions to the aviation and travel industry, positioning him as a key figure in shaping the future trajectory of these esteemed organisations.
In the year 2023, Air Arabia demonstrated its steadfast commitment to expansive growth by significantly extending its operations across all seven operational hubs and unveiling 26 additional routes within its extensive global network. This strategic move not only bolstered the airline’s operational capacity but also translated into a notable 31 percent upsurge in the total number of passengers transported across the group, culminating in an impressive figure of 16.7 million passengers.
Amidst this period of expansion, the fourth quarter closing on 31 December 2023, saw Air Arabia achieving a net profit of $61 million. While this figure indicated a 37 percent decrease compared to the previous year’s record high profit of $97 million, which was attributed to exceptional yield margins, the airline recorded a noteworthy turnover increase of 11 percent, amounting to $419 million for the final quarter of 2023.
Name: Prince Alwaleed Bin Talal Al Saud
Designation: Founder and Chairman
Company: Kingdom Holding Company (KHC)
Industry: Diversified
An international businessman and astute global investor, Prince Alwaleed has orchestrated the transformation of Kingdom Holding Company (KHC) over the years into a prominent global value investment firm, revered on the international stage for its impressive portfolio that spans high-performance global brands and strategically significant regional interests. Embarking on this visionary endeavour, Prince Alwaleed laid the foundation of KHC in Riyadh, KSA, back in 1980, setting the stage for an unparalleled journey of investment excellence.
By the milestone year of 2007, KHC had evolved into a publicly traded entity, garnering recognition for its dynamic and diversified portfolio encompassing high-performance regional investments alongside its esteemed collection of global powerhouse brands. This positioning has not only solidified KHC’s stature as a trailblazer in the investment landscape but has also underscored Prince Alwaleed’s unwavering commitment to driving growth and success on a global scale.
KHC has ownership or interests in luxury hotels and hospitality management, including the George V in Paris and London’s Savoy Hotel, while global hotel brands include Accor, Movenpick, the Fairmont, Raffles, and Swissotel. Some of KHC’s international investment segments include in finance with Citigroup and Saudi Fransi Bank; mobility solutions with Careem and Uber; digital technology and social media with JD.com and Twitter; and media and entertainment, including Time Warner, NewsCorp, 21st Century Fox, and Euro Disney.
In KSA, KHC has investments in petrochemicals with Tasnee while real estate interests include the Kingdom Tower in Riyadh. KHC is also invested in healthcare with Kingdom Hospital, aviation with NAS Saudi Arabia, and in education with Kingdom schools. His investment firm led a $133 million funding round for Nana, a grocery delivery app in KSA, considered one of the largest investment rounds for Saudi startups.
KHC is fully committed to playing its part in helping to make Vision 2030 a success from a commercial perspective and in bringing international best practice and investment opportunities to a wider cross-section of stakeholder interests. In October 2023, Red Sea Global (RSG) officially concluded a successful investment agreement with KHC. This $533 million joint venture marks a strategic alliance between RSG and KHC, with both entities sharing an equal 50/50 partnership in the development and ownership of the Four Seasons Resort Red Sea in KSA. Slated to welcome guests in early 2025, this luxurious retreat will be nestled on Shura Island, the central hub within The Red Sea destination.
Boasting 149 opulent rooms and suites, along with 31 residential properties, the resort will showcase six distinctive dining venues, alongside versatile meeting spaces, a marine discovery centre, as well as a dedicated Kids For All Seasons area. The exquisite Shura Island will feature an exclusive 18-hole championship golf course, a 118-berth marina, and a captivating retail, dining, and entertainment precinct, promising an immersive and enriching experience for both visitors and residents.
Name: Amin Nasser
Designation: President and CEO
Company: Saudi Aramco
Industry: Energy
A world leader in integrated energy and chemicals, Nasser joined Saudi Aramco in 1982 after he earned a Bachelor’s Degree in Petroleum Engineering from King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran, KSA. He held several assignments from November 1982 to February 1991 with the Drilling and Reservoir Management Department and the Production Engineering Department.
From March 1991 to May 1997, he was responsible for multiple supervisory positions in the Engineering and Producing departments. In 1999, he completed the Saudi Aramco Management Development Seminar in Washington, DC; and later, completed the Saudi Aramco Global Business Programme in 2000, and in 2002, followed these with the Senior Executive Programme at Columbia University in 2002. Active in many organisations devoted to education, R&D, entrepreneurship and technology development, Nasser leads the largest provider of crude oil to global markets.
Nasser’s extensive tenure at Saudi Aramco spans four decades, during which he has assumed various key leadership roles within the organisation. Noteworthy among these positions is his distinguished tenure as the senior vice president of upstream operations, where he orchestrated Saudi Aramco’s most substantial capital investment programme in its integrated oil and gas portfolio. Operating under his guidance, the company has strategically advanced its position in upstream operations, marked by strategic investments and collaborative partnerships within the kingdom, thereby expanding its footprint in the downstream and chemicals segments of the petroleum value chain.
Moreover, Nasser spearheads Saudi Aramco’s strategic endeavours towards fostering cleaner energy solutions and sustainable products. This strategic vision is underpinned by investments in cutting-edge technologies, including renewable energy applications, next-generation fuel-engine interfaces, and pioneering crude oil-to-chemicals processes. Furthermore, he champions entrepreneurial ventures focused on delivering innovative solutions for cleaner energy.
Actively dedicated to fostering personal and professional growth through educational initiatives and training programmes, Nasser serves as an advocate for the development and empowerment of Saudi youth at Saudi Aramco. A staunch supporter of the company’s Young Leader’s Advisory Board (YLAB), a structured programme facilitating dialogue between Saudi Aramco’s leadership and its dynamic young professionals, he underscores the importance of nurturing talent within the organisation.
In addition to his corporate responsibilities, Nasser holds key positions on various advisory boards and councils that shape strategic decision-making across diverse sectors. These influential roles include membership on the International Advisory Board of the King Fahd University of Petroleum and Minerals, the Board of Trustees of the King Abdullah University of Science & Technology, the World Economic Forum’s International Business Council (IBC), the Massachusetts Institute of Technology Presidential CEO Advisory Board, the JP Morgan International Council, and the BlackRock Board of Directors.
Simultaneously, Nasser spearheads Saudi Aramco’s robust initiatives towards advancing the development of cleaner energy sources and products. These endeavours entail substantial investments in cutting-edge technologies such as next-generation fuel-engine interfaces, innovative processes for converting crude oil into chemicals, renewable energy applications, and the strategic backing of emerging startups dedicated to offering sustainable energy solutions.
Name: Alex Reinhardt
Designation: Founder and entrepreneur
Company: Smart Blockchain
Industry: Technology
Alex Reinhardt is a prominent figure in the world of blockchain and startup development, recognised as one of the ten most influential individuals in the global blockchain industry by leading American business publications. A multifaceted professional, Reinhardt has established himself as a successful entrepreneur, venture capitalist, economist, and business coach.
Born in Russia, Reinhardt’s journey to success began at the age of 15 when he emigrated to Germany with his family. Faced with the challenge of adapting to a new culture and learning German from scratch, he demonstrated remarkable resilience and determination. Despite initial struggles in school, Reinhardt’s unwavering commitment to self-improvement saw him learn 30 new German words daily and employ creative strategies to practice the language with his peers. His perseverance paid off, enabling him to enroll in an elite gymnasium and subsequently gain admission to the prestigious Humboldt University of Berlin, an institution once graced by Albert Einstein as a faculty member.
During his university years, Reinhardt began his foray into the startup ecosystem, assisting innovative entrepreneurs in securing funding. Over the next decade, he successfully launched hundreds of startups, raising an impressive total of more than €500 million ($536 million). His portfolio now boasts over 20 thriving business ventures, including his own crowdfunding platform and marketplace.
Reinhardt’s expertise extends beyond entrepreneurship and investing. As a business coach, he has conducted over 100 coaching seminars, imparting knowledge and insights to approximately 500,000 attendees. His ability to guide and inspire others has solidified his reputation as a thought leader in the business world. In March 2023, Reinhardt embarked on his latest venture, the Smart Blockchain project.
This initiative aims to make a positive impact on the market of blockchain technologies by ensuring the stable operation of decentralised networks and simplifying scalability. The project represents Reinhardt’s ongoing commitment to advancing the field of blockchain technologies and fostering innovation in the digital economy.
Throughout his career, Reinhardt has consistently demonstrated the power of perseverance, adaptability, and vision. From overcoming language barriers to becoming a key player in the global blockchain industry, his journey serves as an inspiration to aspiring entrepreneurs and innovators worldwide.
Name: Beshara Sherif
Designation: Group CEO
Company: Mohamed & Obaid AlMulla Group (M&O Group)
Industry: Diversified
Beshara embarked on his career with the Mohammad & Obaid AlMulla Group (M&O Group) in 2017 as its Group General Counsel. He progressed rapidly within the organisation, becoming the Group Chief Legal Officer and assuming his current role by late 2018.
Recognised as a leader in the legal sector, Beshara has a wealth of experience and a distinguished professional career that has spanned over a decade.
His tenure encompasses vital leadership roles, including legal counsel and chairman, and his current position as the Group CEO of the Mohamed & Obaid AlMulla Group of Companies. His versatile expertise traverses several sectors, including finance, aviation, and corporate law. His notable accomplishments include providing strategic counsel to CEOs, advising on matters within the aviation industry, spearheading joint ventures, and managing litigation cases.
Beshara has received several accolades, including a ranking among the Top 10 in the Arabian Business Dubai 100 list for 2024 and as a distinguished member of the esteemed Legal 500 Middle East rankings for consecutive years.
In his role, Beshara oversees the comprehensive portfolio of the Mohamed & Obaid AlMulla Group. It entails strategic leadership and direction across the group’s business units and subsidiaries, ensuring the alignment of corporate objectives, optimising operational efficiencies, and spearheading growth initiatives to strengthen the group’s market position and enhance its financial performance. He is steering the group’s strategic direction, leading the development and implementation of internal audit and corporate compliance programmes, and contributing to creating general management policies.
In alignment with the UAE’s National AI Strategy 2031 and the UAE National Programme for Artificial Intelligence, American Hospital Dubai is pioneering advancements in complex medical conditions, robotic surgical procedures, AI-driven healthcare solutions, and positioning itself as a destination for medical tourism.
The hospital continually endeavors to launch premium healthcare services to the region through strategic global partnerships with medical pioneers. With multi-faceted initiatives backed by state-of-the-art technology, the hospital is vital in reinforcing Dubai’s reputation as a prominent healthcare hub.
The organisation upholds a culture of excellence by incorporating industry best practices. At the same time, their operational success is driven by the commitment to innovation, cutting-edge treatments, technological advancements, leveraging the expertise of top professionals, and delivering compassionate care.
Under Beshara’s visionary leadership, American Hospital Dubai and Cerner, the global leader in healthcare technology, set a milestone with the Artificial Intelligence research centre. It is the only hospital in the Middle East to win the Excellence in Robotics Surgery award with over 1,500 successful procedures. Also, M&O Group’s hospitality division is expanding into regional markets, and Ishraq Hospitality, the Group’s asset management division, is increasing the Group’s footprint across the region with new mid-priced hotels.
Name: Fadi Ghandour
Designation: Executive Chairman
Company: Wamda Capital
Industry: Investment
In 1982, Ghandour ushered in a new era of logistics in the MENA region by launching Arab American Express, later branded as Aramex which specialised in the delivery of parcels originating from the US to countries in the Middle East. His entrepreneurial foresight and innovative spirit positioned him as a key player in the thriving startup landscape of the MENA region.
Throughout his tenure, Aramex evolved into a leading logistics powerhouse within emerging markets, boasting a global presence with 250 offices spanning across 90 countries. Notably, Ghandour achieved significant milestones by taking Aramex public twice, initially on Nasdaq, ushering in a historic moment for the Arab world, and subsequently on the Dubai Financial Market. Upon his strategic exit from the company, he divested his remaining 10 percent stake to Boson Ventures Corporation.
As a founding investor in Maktoob, one of the region’s pioneering tech companies, he catalysed MENA’s tech ecosystem, culminating in Yahoo’s ground-breaking acquisition of Maktoob in 2009. He continues to contribute his expertise as an active member on the Aramex board. Diversifying his entrepreneurial pursuits, he has been involved in founding, investing in, and launching several companies and non-profit organisations across digital technology, hospitality, fitness and wellness, and security sectors.
Noteworthy among his endeavours is the establishment of Wamda Capital, a venture capital firm with a $75 million growth fund dedicated to nurturing and fostering entrepreneurship ecosystems throughout the MENA region. Moreover, Ghandour holds strategic roles on the boards of leading entities within the financial and entrepreneurial landscapes, including Abraaj Capital and Endeavor Jordan, while providing advisory support to the Suliman S. Olayan School of Business at the American University of Beirut. A committed philanthropist, he founded Ruwwad Al Tanmeya, a social enterprise uplifting displaced communities in Lebanon, Palestine, Jordan, and Egypt, and co-founded the Al Riyadi sports club in Jordan.
Cultivating innovation in the MENA region, Wamda is a dynamic platform and ecosystem dedicated to fostering innovation and nurturing burgeoning startups. Empowering emerging entrepreneurs with the essential resources and support, the platform plays a key role in equipping these ventures to thrive in the ever-evolving business terrain.
At the heart of Wamda’s mission lies Wamda Capital, a crucial component of the organisation that serves as a venture capital fund, providing crucial financial backing to early-stage and growth-stage startups across MENA. By offering financial support, Wamda empowers these start-ups to turn innovative ideas into sustainable businesses, laying the groundwork for long-term success.
Wamda is also deeply committed to fostering a vibrant entrepreneurial ecosystem through mentorship programmes and networking initiatives. By linking start-ups with experienced mentors, industry experts, and potential investors, Wamda facilitates access to guidance, strategic partnerships, and additional funding to fuel their growth trajectory.
Name: Ghaith Al Ghaith
Designation: CEO
Company: Flydubai
Industry: Aviation
Backed by over 35 years of experience in the aviation industry, Al Ghaith was appointed to his current role to launch the budget airline in 2008 prior to its official start of operations in Dubai in 2009. With a focus on enhancing the passenger experience and maintaining cost-effectiveness, he has implemented innovative products and technologies. As the driving force behind flydubai’s strategic direction, Al Ghaith works closely with Sheikh Ahmed bin Saeed Al Maktoum, the group’s chairman.
Before leading flydubai, he served as the executive vice president for commercial operations worldwide at Emirates for 14 years. His journey with Emirates began as a management trainee in 1986, and over the years, he held various roles, contributing to the airline’s growth. Al Ghaith’s strategic vision and deep understanding of the aviation industry have played a key role in shaping the success of flydubai.
During the summer of 2023, flydubai carried more than 4 million passengers between June and mid-September, up 30 percent on the same period of 2022. It operated 32,000 flights across a network of 120 destinations in 52 countries, a 22 percent increase on the number of flights during the same period last year. flydubai’s expansive network and financial accomplishments under Al Ghaith’s leadership testify to the airline’s significant contributions to the aviation sector, further solidifying his position as a distinguished player in the industry.
On 18 January 2024, flydubai inaugurated direct flights to Mombasa, Kenya, marking its expansion to 12 destinations in 11 African countries. Flydubai’s African network encompasses Addis Ababa, Alexandria, Asmara, Cairo, Dar es Salaam, Djibouti, Entebbe, Hargeisa, Juba, Mogadishu, Mombasa, and Zanzibar. The introduction of direct flights to Mombasa is a milestone as it establishes flydubai as the first UAE national carrier to offer non-stop flights from Dubai to the coastal city in southeast Kenya.
In March 2024, flydubai revealed its plans to launch services to two destinations in KSA. This includes the resumption of flights to Al Jouf and the initiation of operations to Red Sea International. Commencing from 18 April, flights to Al Jouf Airport (AJF) and Red Sea International Airport (RSI) will operate twice a week from Terminal 2 at Dubai International (DXB). Red Sea International Airport (RSI) was established to offer a convenient pathway for guests travelling to The Red Sea. By the year 2030, the Red Sea is expected to encompass 50 resorts, featuring up to 8,000 hotel rooms and over 1,000 residential properties spread across 22 islands and six inland sites.
Notably, flydubai has established a network of 129 destinations across 58 countries, served by a modern fleet of 86 Boeing 737 aircraft. In the early months of 2024, the airline has already launched services to Langkawi, Mombasa, and Penang, with plans to add flights to Basel, Riga, Sochi, Tallinn, as well as Vilnius later in the year.
Name: Hatem Dowidar
Designation: Group CEO
Company: e&
Industry: Technology
Hatem Dowidar is the Group CEO of e&. He joined e& in September 2015, initially serving as Group Chief Operating Officer. He was appointed Chief Executive Officer, International in March 2016, and in May 2020, he became the Group’s Chief Executive Officer.
Ever since he took the company’s helm, Dowidar was the architect for the group’s transformation from a traditional telco to a technology group. He has spearheaded several ground-breaking strategic programmes that propelled the company’s business growth to new heights across the 33 markets where it now operates. As the company transformed into a global technology and investment conglomerate in February 2022, and despite the ever-changing business landscape, his astute brand stewardship has been the foundation for enhancing e&’s brand equity, enhancing employee experience, and adding value to stakeholders.
Today, e& is the Fastest Growing Technology Brand and the most valuable brand portfolio in the Middle East and Africa, standing tall in global rankings. Dowidar also has been recognised by Brand Finance as the number one ranked telecom leader globally on the Brand Guardianship Index 2024. e& also attained the highest position in Brand Finance’s inaugural Employer Brand Report 2024, with its UAE entity ranking as the Top Global Telecoms Employer.
Prior to joining the group, Dowidar was the Group Chief of Staff for Vodafone Group based in London. He brings 32 years of experience in multinational companies and more than 25 years of these within the telecommunications industry across various leadership positions.
He initially joined Vodafone Egypt in 1999, served as Marketing Director (CMO), and later became the CEO of Vodafone Egypt from 2009 – 2014, where he steered the business growth with benchmark profitability in challenging and competitive environments. Dowidar has a long track record of achievements in the various leadership positions he held at Vodafone Group and its subsidiaries, including Group Core Services Director, Chairman and CEO of Vodafone Malta, CEO of Partner Markets with partnerships covering over 45 markets, and Regional Director Emerging Markets. He also has extensive Corporate Governance experience through his representation as Chairman and Board Member on several Corporate Boards within and outside the telecommunications industry.
Dowidar began his career in AEG/Deutsche Aerospace (Daimler Benz Group) in Egypt before moving into marketing at Procter & Gamble, where he held several managerial roles. He is currently a board member of Vodafone Group, Etihad Etisalat Company (Mobily), Maroc Telecom, and Etisalat Misr (Etisalat Egypt).
On a global industry level, Dowidar is a member of the GSMA and the United Nations Internet Governance Forum (IGF) leadership panel. GSMA is an industry organisation representing the interests of global mobile operators and the broader mobile ecosystem. IGF leadership panel is a multi-stakeholder group for policies and practices relating to the Internet and technologies. Convened by the Secretary-General of the United Nations, the IGF facilitates knowledge exchange on how to maximise Internet opportunities and address risks and challenges.
Name: Irfan Tansel
Designation: CEO
Company: Al Masaood Automobiles
Industry: Mobility
With over 40 years of experience in the automotive sector, Irfan Tansel embarked on his career as a teenage apprentice in a car workshop. Today, he heads one of the most prominent automotive companies in the UAE and won esteemed awards including Forbes Top 100 CEOs in the Middle East for three consecutive years, Visionary of the Year from Entrepreneur Middle East and CEO of the Year by CEO Middle East. He has also been listed in the 100 Inspiring Leaders in the Middle East by Arabian Business.
In his role as CEO of Al Masaood Automobiles, Tansel has steered the company to numerous milestones and accolades. Under his leadership, the company not only clinched the esteemed Sheikh Khalifa Excellence Award in 2023 but also continued its tradition of excellence with multiple editions of the Nissan Global Dealer Award, Global Nissan Aftersales Award, the INFINITI Global Award, Renault Global P.A.R.I.S. Award and many more. Last year marked a significant triumph in Tansel’s tenure, as it became a record-breaking year for Al Masaood Automobiles across multiple facets, including unprecedented achievements in sales and aftersales.
Under his guidance, Al Masaood Automobiles made history in 2019 by launching the region’s first Nissan ecommerce car-buying website, along with a virtual, live, and interactive sales platform, one of many firsts launched. In 2023, the company achieved record-breaking sales figures, surpassing all previous records.
Tansel’s vision for Al Masaood Automobiles is grounded in forward-thinking, innovation-driven, and customer-centric principles, which he uses to carefully craft tailored strategies designed to keep Al Masaood Automobiles at the forefront of a competitive market, prepared for any challenges that may arise. His leadership style is deeply rooted in a belief in the power of effective, inclusive management with transparency and trust leading to empowerment, recognising that the true driving force behind Al Masaood Automobiles’ success is its dedicated team.
As a revered voice in the automotive world, his insights on business disruption, leadership, and the future of the automotive industry are frequently featured in notable publications such as Forbes Middle East, Bloomberg, CNBC, CEO Middle East, Al Bawaba, The National, Gulf News, Entrepreneur, Economy ME, and many others. He also shares his expertise internationally, delivering motivational keynotes on topics ranging from preparing businesses for disruption to leadership, autonomous vehicles, the future of mobility, electrification and future dealerships. Irfan is keen to groom his leadership team to become the next superstars in the industry.
Name: Kabir Mulchandani
Designation: Founder
Company: FIVE
Industry: Hospitality
A pioneering figure in real estate, hospitality, and philanthropy, Mulchandani is the visionary entrepreneur behind FIVE Hotels and Resorts, which encompasses properties including FIVE Palm Jumeirah, FIVE Jumeirah Village, FIVE Zurich in Switzerland, and their latest, FIVE LUXE in Dubai. Under the guiding principle of ‘Sustainable Indulgence’, Mulchandani led FIVE to achieve proforma* EBITDA margin of 39 percent in 2023, alongside reaching significant sustainability benchmarks, including the only ‘A’ rating for ESG in the world by ISS. In the same year, FIVE reported a remarkable proforma* revenue of $569 million and proforma* EBITDA of $221 million..
Throughout 2023, FIVE Palm Jumeirah and FIVE Jumeirah Village consistently achieved an average occupancy rate of 92 percent. From 2019 to 2023, total revenue experienced a substantial growth of approximately 363 percent, escalating from $123 million to $569 million*. With FIVE’s emphasis on digital innovation, which accounts for 50 percent of bookings through its proprietary website and reservations teams, FIVE Jumeirah Village has become the most reviewed hotel on Booking.com with over 38,500 reviews and an impressive rating of 9.1/10. Similarly, FIVE Palm Jumeirah boasts a stellar 9.2/10 and FIVE LUXE has a rating of 9.3/10 on Booking.com.
Beyond his business achievements, Mulchandani is also recognised for his philanthropic endeavours, of which his employee medical relief fund, FIVE Cares, forms a cornerstone initiative. He has spearheaded long-term partnerships with medical clinics across India, funding life-saving heart and face surgeries for over 800 children to date. His philanthropic contributions amount to over $1.8 million, supporting both local and international partnerships. This includes a significant donation of $200,000 to a foundation focused on literacy and the empowerment of 1,500 girls.
Mulchandani advocates for ‘Sustainable Indulgence’, a concept combining innovation and transformation to offer guests superior experiences while adhering to top sustainability standards. FIVE, created by acclaimed developers, redefines luxury with a focus on sustainability, integrating it into every aspect of a guest’s stay. Their hotels in Dubai and Zurich are LEED Platinum certified, with FIVE LUXE achieving the highest LEED v4 score worldwide for 5-star hotels. FIVE Zurich is Switzerland’s only LEED Platinum hotel.
Moreover, FIVE has emerged with the highest ESG rating in the world to date from Global Rating Agency ISS, as the only company to receive an ‘A’ grade across all sectors. According to Cornell University’s 2023 CHSB benchmark, FIVE’s carbon footprint per night is five times lower than the average UAE luxury resort, validated against a database of over 25,000 global hotels.
FIVE completed a $330 million acquisition of the legendary Pacha Group in Europe, comprising assets including the Pacha Nightclub, Destino Pacha Hotel, El Hotel Pacha, Toy Room Club, and WooMoon Storytellers (globally) and registered trademarks ‘Pacha’ (globally) and its ‘cherries’ logo design.
*Pro forma figures include the effect of acquisition of Universo Pacha S.A as if the business combination had been completed at the beginning of the year 2023.
Name: Khalifa Al Zaffin
Designation: Executive Chairman
Company: Dubai Aviation City Corporation and Dubai South
Industry: Government
Khalifa Al Zaffin is the Executive Chairman of Dubai Aviation City Corporation (DACC), a government of Dubai entity formulated under the wise vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to cement the emirate’s leading position as a logistics and aviation hub.
The expansive scope of DACC includes, the management and strategy of Dubai’s twin aviation hub: the Dubai International Airport and world’s largest airport in the making, the Al Maktoum International Airport. The far-reaching purview of DACC also includes Dubai South and Dubai Aviation Engineering Projects, the construction arm of the Dubai aviation sector dedicated to developing the infrastructure and enhancing the capacity of airports.
At the forefront of Dubai’s dynamic aviation expansion, Al Zaffin is an eminent leader in the industry. Through close coordination with the aviation community of Dubai, he plays a key role in formulating economic, investment, fiscal policies and strategies in support of the emirate’s overarching aviation vision, with emphasis on planning, execution and building the region’s first master planned airport city, Dubai South.
An integrated city that spans 145 sq km and built around the Al Maktoum International Airport, Dubai South, home to the Expo City Dubai, is integral to maintaining the emirate’s position among the top global centres for trade and transportation, as well as a leading business hub.
With a view to achieving long-term growth and prosperity and building a future-proof dynamic destination, Al Zaffin’s ingenuity is the key driver powering the strategy, execution and operations of Dubai South.
Al Zaffin is a graduate of Arizona State University and holds a Bachelor’s of Science degree in Chemical Engineering and outside his work, he has a broad range of academic, cultural and public service interests.
Name: Lubna Olayan
Designation: CEO and Deputy Chairperson
Company: Olayan Financing Company (OFC)
Industry: Investment
On January 1, 2023, Olayan was reappointed as the chair of the board of directors at Saudi Awwal Bank (SAB) for another term of three years, making her the first woman to hold such a position in a publicly listed Saudi company. Olayan’s extensive leadership experience spans over 35 years as CEO of Olayan Financing Company (OFC) until she stepped down in April 2019. She assumed the role following the merger of SABB and Alawwal Bank, which propelled the bank to become the third-largest lender in KSA.
Established by her father in 1947, OFC operates across manufacturing, services, investments, and distribution sectors. Additionally, she presides over the Suliman S. Olayan Foundation and the UK-based Alfanar philanthropy organisation, along with holding memberships on key international and local corporate, university boards, and advisory councils.
Under Olayan’s guidance, OFC, in collaboration with King Abdullah University of Science and Technology (KAUST) via the Suliman S. Olayan Foundation, launched the Suliman S. Olayan Institute for Innovation and Entrepreneurship. This institute specialises in sustainability solutions for the water, food, and energy sectors and is named in memory of the late visionary and founder of Olayan Group. Besides her notable position on the World Economic Forum’s Board of Trustees since September 2022, Olayan also chairs the Saudi Swedish Business Council.
OFC, headquartered in Riyadh, serves as the cornerstone of The Olayan Group’s operations and investment activities within KSA and the wider Middle East. Since its inception in 1969, OFC has developed a diversified investment strategy, embracing public and private equities, strategic alliances, and real estate ventures. The company boasts a robust portfolio exceeding 32 entities, alongside global investments spanning the Middle East, Turkey, and India, all managed by its Riyadh-based team.
OFC’s investment approach includes significant stakes in key Saudi stock market entities, a mix of private equity ventures, and targeted strategic partnerships across various industries, from construction materials to consumer goods manufacturing. The real estate division is involved in several developmental projects throughout the kingdom while the investment mix encompasses a balanced assortment of listed equities, private investments, real estate, fixed-income securities, and specialised assets.
Moreover, OFC holds a majority stake in Olayan Saudi Holding Company (OSHCO), a prominent Saudi conglomerate with a diversified presence in commercial and industrial operations across six sectors, including food and beverage, restaurants, health and personal care, information, and communications technology, B2B, and energy services, cementing its position as a key player in the region.
LanzaTech Global, a carbon recycling company that converts waste carbon into sustainable raw materials, and OFC have established a joint venture in the KSA to expedite the commercial deployment of LanzaTech’s carbon recycling technology in challenging industries within the kingdom and select areas in the broader Middle East.
Name: Mohamed Alabbar
Designation: Founder and Chairman
Company: Emaar, noon, Eagle Hills
Industry: Real estate/e-commerce
Driven by the ambition to contribute to Dubai’s visionary pursuit of transforming into one of the most modern and advanced cities globally, Alabbar laid the foundation of Emaar in Dubai in June 1997. Presently, the company stands as an eminent figure in the realm of integrated real estate development.
Today, Alabbar is an integral part of Dubai’s growth in multiple industries such as hospitality, ecommerce, technology, and others. With an impressive portfolio of investments and achievements in the region and globally and is also considered a driving force behind several key achievements including the Burj Khalifa and Dubai Mall, founded by his company Emaar Properties.
A graduate in Finance and Business Administration from the Seattle University, USA; Alabbar holds several honorary doctorates, including from Seattle University, the London School of Economics and Political Science, and from Sun Moon University in South Korea.
Alabbar is also the chairman of Americana Restaurants, the largest restaurant operator in the MENA region and Kazakhstan in terms of number of restaurants in its countries of operations. Americana Restaurants operates key global brands such as KFC, Pizza Hut, Hardee’s, Krispy Kreme, TGI Fridays, and recently added Peet’s Coffee, along with proprietary brands such as Wimpy and Chicken Tikka across the MENA region and Kazakhstan for over 50 years.
Alabbar’s fervour for real estate ventures extends to his other distinguished enterprises, namely Eagle Hills and Nshama. Since its inception in 2014, Nshama has been crafting elegantly master-planned neighbourhoods that embody technological advancement, sustainability, and profound community living.
Eagle Hills was formed by Alabbar with the aim to develop and revitalise cities and communities, in line with innovative lifestyle solutions that meet the demands of modern living. As an Abu Dhabi-based private real estate investment and development company, Eagle Hills takes its financial capability, expertise, and extensive relationships to drive the creation of large-scale, master-planned communities, with a blend of facilities that will elevate local economies, support holistic living and working solutions, while catering to both tourists and residents.
Eagle Hills develops projects both within the UAE as well as globally. The UAE-based projects include Maryam Island, Sharjah; Fujairah Beach; Address Residences Fujairah and the Kalba Waterfront. Eagle Hills International includes Serbia, Bahrain, Morocco, Oman, Jordan, Ethiopia, Egypt and Albania.
Beyond his pioneering role in real estate, Alabbar’s ventures encompass retail businesses that span over 20 global markets, including F&B, ecommerce, venture capital, logistics, hospitality, and technology. Alabbar’s transformative vision extends to his e-commerce firm, Noon, which collaborates with government entities to provide an expansive platform for startups in Abu Dhabi and Ajman. He also established Noon Food, a venture poised to foster a sustainable ecosystem for both businesses and consumers. Since its launch, noon Food is available throughout Dubai, expanding into Sharjah and Abu Dhabi.
Name: Mohammed Alshaya
Designation: Executive Chairman
Company: Alshaya Group
Industry: Retail
The driving force behind the success of Alshaya, a prominent Kuwaiti family-owned business, Alshaya has steered the company’s rapid expansion as CEO since 1990, later assuming the role of executive chairman in 2007. Under his leadership, Alshaya has evolved into one of the largest international franchise operators across the Middle East, Africa, Europe, and Russia, boasting over 70 renowned brands.
Alshaya is actively engaged in various influential capacities. He serves as a member of the board of trustees at the Arab Thought Foundation and chairs the board of directors of Mabanee, one of Kuwait’s leading real estate developers, where the Alshaya family holds a significant ownership stake of 34.1 percent.
Additionally, he holds positions on several councils, including the Supreme Council of Education for the State of Kuwait, the International Business Advisory Council for London, and the Supreme Council of Planning and Development. Alshaya’s contributions extend beyond business and into education, international business relations, and long-term planning for Kuwait’s development.
As a member of the Supreme Council of Education, he contributes to shaping the educational landscape of Kuwait. His involvement in the International Business Advisory Council for London underscores his commitment to fostering strong international business ties. Furthermore, his role in the Supreme Council of Planning and Development highlights his dedication to ensuring the sustainable growth and long-term vision for Kuwait. Through these roles, Alshaya actively contributes his insights, expertise, and strategic thinking to various crucial domains shaping Kuwait’s development.
Operating across Europe, the MENA region, and Turkey, Alshaya Group has a diverse portfolio spanning health and beauty, pharmacy, food, fashion, home furnishings, and leisure & entertainment. Its extensive brand line-up includes Boots, The Body Shop, H&M, Starbucks, Mothercare, M.A.C, Debenhams, American Eagle Outfitters, P.F. Chang’s, The Cheesecake Factory, Victoria’s Secret, Pottery Barn, and KidZania, among others.
On 24 July 2023, Alshaya Group launched the ‘Make Your Moment’ initiative in collaboration with the Human Resources Development Fund (HRDF) in KSA. This initiative aims to attract and retain skilled Saudi men and women in the retail sector, aligning with the goals of Saudi Vision 2030. By investing in Saudi youth, the initiative supports the national plan’s objective of empowering citizens with the skills needed to succeed in the private sector. To date, approximately 4,000 Saudi women have joined Alshaya Group’s workforce across its diverse brands.
Alshaya Group’s commitment to its communities is paramount and as a leading employer in the retail sector, recognise the various avenues through which they can contribute sustainably. This includes creating jobs and fostering skills development, sourcing locally, providing charitable support, and collaborating with government and local NGOs. Additionally, they are dedicated to environmental stewardship, implementing initiatives such as harnessing solar energy, recycling fashion and electronics, and minimising packaging. Across their brands and operations, Alshaya Group are working to enact positive change and continuously strive to make meaningful impact.
Name: Mohammad A. Baker
Designation: Deputy Chairman and CEO
Company: GMG
Industry: Diversified
Emirati businessman Mohammad A. Baker is a visionary on a mission to redefine success within the global business community. Under his leadership, GMG has embarked on an exciting new chapter, driven by an unwavering commitment to excellence and positive impact. GMG’s portfolio spans across five key verticals, each showcasing its relentless pursuit of innovation and excellence: GMG Sports, GMG Everyday Goods, GMG Health and Beauty, GMG Properties, and GMG Logistics.
Baker strongly believes in empowering the UAE’s youth and has launched several initiatives to support their growth. He played an instrumental role in promoting healthier lifestyles across schools in the UAE by collaborating closely with the government and integrating sports and active living into the curriculum.
Baker’s creative brilliance has given rise to influential home-grown brands, including Sun & Sand Sports, Basketbolista, Nu Athlete, and Dropkick. In July 2023, GMG signed a transformative franchise agreement with the renowned UK-based global sports retailer JD Sports, bringing its expertise to the Middle East. GMG partners with the world’s key sports brands, including Nike, Vans, and Columbia. Additionally, GMG successfully launched nike.ae and nike.sa for regional customers.
Baker has orchestrated a comprehensive presence across the entire food consumption chain, aligning with GMG’s visionary ‘farm-to-fork’ approach and commitment to the UAE’s National Food Security Strategy 2051. GMG has established state-of-the-art food manufacturing facilities, an expansive food retail network, and distribution of highly sought-after international brands. These facilities are enhanced by a cutting-edge R&D kitchen and food laboratory, covering six diverse product lines: meat, seafood, Himalayan pink salt, herbs and spices, sausages and cold cuts, butchery, and marination.
GMG ventured into the food retail industry in April 2022 by acquiring the Middle Eastern operations of Groupe Casino’s prestigious brands, including Géant, Franprix, Monoprix, and Monop. GMG’s commitment to excellence continued with the acquisition of aswaaq LLC, consolidating its position as one of the UAE’s largest community mall operators.
The group has also expanded its health portfolio within the UAE, introducing innovative concept stores such as Supercare, Arabella, Glu, and Good Health. Moreover, GMG’s global footprint is rapidly expanding, with Baker envisioning the opening of 100 stores in Southeast Asia by 2025.
On 3 April 2024, GMG announced plans to expand the store network of VF Corporation’s brands, such as Vans®, The North Face®, and Timberland®, across the MENA region and Southeast Asia (SEA). Building on a partnership of over 12 years, GMG will increase the presence of VF’s brands through new mono-brand partner stores in MENA and SEA markets over the next five years. Currently, GMG operates 90 mono-brand stores for VF in MENA and SEA, with plans to roll out over 300 stores in the next five years.
Name: Mila Smart Semeshkina
Designation: Founder and CEO
Company: Lectera.com and the Women’s Empowerment Council
Industry: Education
Mila Smart Semeshkina, CEO and founder of the educational platform Lectera.com and the Women’s Empowerment Council, is a dynamic force in edtech and women’s empowerment. This visionary entrepreneur has transformed the landscape of online education while championing gender equality on a global scale.
Born in 1991 in Krasnodar, Russia, Semeshkina’s journey to success began early. A gold medallist in high school, she earned honours at both Kuban State University and Lomonosov Moscow State University.
Her academic prowess extended beyond the classroom, authoring numerous publications in media economics and lecturing at Moscow State University. At just 18, Semeshkina plunged into the world of marketing and PR, quickly establishing herself as a formidable presence. Over a decade, she masterminded promotion strategies for international brands in the Russian market and beyond, leading teams of over 50 professionals across multiple countries.
In 2017, Semeshkina pivoted to entrepreneurship and high-level consulting, laying the groundwork for her most ambitious project yet. Enter Lectera.com, an international educational platform that has redefined online learning.
Under her leadership, a team of experts from 25 countries has created a curriculum that reaches over 4.5 million students in 70 countries, offering courses in 15 major languages.
Lectera.com’s success is a testament to Semeshkina’s innovative approach to education. The platform’s rapid growth and global reach have positioned it as a leader in the edtech space, challenging traditional models of learning and skill development.
But Semeshkina’s vision extends beyond education. In 2021, she founded the Women’s Empowerment Council, a Dubai-based organisation dedicated to elevating women’s voices and fostering leadership. The council’s flagship event, the Women’s Empowerment Convention (WE Convention), has quickly become one of the MENA region’s premier conferences for women in business and leadership. With a community of over 30,000 women, the council offers free access to empowerment courses, embodying Semeshkina’s commitment to tangible progress in gender equality.
A thought leader, venture investor, and course producer, Semeshkina’s influence spans multiple industries. Her expertise in launching and scaling international startups has made her a sought-after consultant for global enterprises seeking to enhance their marketing strategies and brand development.
As CEO of Lectera Group, headquartered in the US and UAE, Semeshkina oversees all aspects of product development, branding, and operations. Her hands-on approach and strategic vision have been key to the company’s rapid expansion and success.
Semeshkina represents a new generation of entrepreneurs who combine business acumen with social responsibility. Through her work in education and women’s empowerment, she is not just building successful companies but shaping a more equitable and skilled global workforce for the future.
Name: Najla Al Midfa
Designation: CEO
Company: Sharjah Entrepreneurship Centre (Sheraa)
Industry: Entrepreneurship
Having joined Sheraa in 2015, Al Midfa transitioned to her current role in 2018, where she supervises a team of 48 employees tasked with nurturing the entrepreneurial ecosystem in Sharjah. Under her leadership, Sheraa has cultivated a diverse portfolio of more than 150 startups, securing approximately $161 million in investment and generating over 1,600 job opportunities.
Alongside her key role at Sheraa, Al Midfa holds board positions at prestigious institutions including the United Arab Bank, Emirates Development Bank, Sharjah Research, Technology, and Innovation Park, Dana Gas, and Emirates Schools Establishment. This multifaceted engagement underscores her extensive expertise and commitment to fostering innovation, economic growth, and educational development within the UAE.
Sheraa, which means “to sail” in Arabic, is a flagship endeavour in Sharjah dedicated to fostering a robust ecosystem for entrepreneurship and innovation. Having nurtured over 160 start-ups since its inception, Sheraa is ambitiously looking to elevate this number to surpass 200 in the upcoming year. While this figure represents the start-ups directly supported by Sheraa, the organisation’s broader network encompasses a diverse array of companies. With innovation hubs situated at esteemed institutions like the American University of Sharjah and the University of Sharjah, Sheraa serves as a major driving force for entrepreneurial growth and innovative breakthroughs in the region.
On 29 March 2024, Sheraa launched their Centres of Excellence (CoEs) with the goal of stimulating and promoting multifaceted economic development in the region. These CoEs are set to redefine the landscape of entrepreneurial growth and innovation across key, future-focused sectors including manufacturing, edtech, creative industries, and sustainability.
Through a strategic vision, the CoEs will empower start-ups to drive development and growth in the four key sectors through strategic partnerships. Providing market access facilitation and impactful assessments, the initiative aims to revolutionise the support system for start-ups and catalyse a dynamic and forward-thinking entrepreneurial ecosystem in Sharjah.
Each centre aligns with key partners to maximise their impact. The Manufacturing CoE is championed by the Ministry of Industries and Advanced Technology and has onboarded the Sharjah Chamber of Commerce and Industry and Emirates Development Bank (EDB) to support the start-ups with market access and financing. The Creative Industries CoE is championed by the Ministry of Culture.
The EdTech CoE partners with the Sharjah Private Education Authority, and the Sustainability centre is championed by the Ministry of Climate Change and Environment, as well as BEEAH Group and Sharjah Sustainable City. The CoEs’ scope includes nurturing startups in manufacturing to aim for technological advancements and increased efficiency in edtech focusing on educational transformation and digital learning solutions in the creative industries encouraging artistic and digital media ventures.
Name: Noor Sweid
Designation: Founder and Managing Partner
Company: Global Ventures
Industry: Investment
Sweid leads Global Ventures, a leading venture capital firm overseeing a diverse portfolio of more than $300 million in managed assets. The firm operates from strategically positioned hubs in Dubai, Abu Dhabi, Cairo, and Jeddah, which have played a key role in its impressive track record. With 63 investments under its belt and a commendable record of five successful exits across various markets, Global Ventures has solidified its position as a powerhouse in the realm of venture capital. Among the notable companies within its investment portfolio are Thndr, Tarabut, Yodawy, and Pyypl, reflecting the firm’s commitment to supporting innovative and high-growth ventures in the region and beyond.
In addition to her leadership role at Global Ventures, Sweid lends her expertise as a board member to Immensa, an innovative additive manufacturing start-up. Her illustrious career includes serving as the chief investment officer at the Dubai Future Foundation, co-founding Leap Ventures, and holding a founding board member position at Endeavor UAE. She is also credited with establishing ZenYoga, a network of yoga and Pilates studios that was later acquired by Cedarbridge in 2014.
Sweid’s professional accolades include being part of the inaugural Finance Leaders Fellowship class and the prestigious Aspen Global Leadership Network. She has been recognised as a Young Global Leader by the World Economic Forum, highlighting her exemplary contributions to the business landscape.
A defining moment in Sweid’s career was her historic achievement as the first Arab woman to scale, take public, and manage a public company in the MENA region. This milestone was materialised through her family’s business, Depa, which was listed on NASDAQ Dubai and the London Stock Exchange in April 2008, commanding a valuation of $1.1 billion.
Beyond her personal achievements, Sweid holds key leadership roles, including serving as the founding chairwoman of the Middle East Venture Capital Association (MEVCA) and as a director of the Global Private Capital Association, TechWadi, and the Karman Fellowship. She remains an active member of esteemed organisations such as the Aspen Global Leadership Network and has held influential Board Director roles at MIT Sloan and as a founding board member of Endeavor UAE.
Global Ventures, headquartered in Dubai, is a venture capital firm specialising in early-stage investments in high-growth companies throughout the MEA region. Their focus is on globally scalable enterprise technology companies, taking advantage of undervalued markets to accelerate the expansion of emerging businesses into international markets, with a goal of increasing valuation and revenue.
Since its inception in 2018, Global Ventures has been led by Sweid, who brings a wealth of diverse business experience to the firm. While their primary target is startups in the MENA region with annual revenues exceeding $1 million, Global Ventures criteria for investment include companies that are industry leaders, generate revenue, are scalable, capital-efficient, and have a clear exit strategy.
Name: Othman Ibrahim
Designation: Vice Chairman and Group CEO
Company: Rawabi Holding
Industry: Diversified
For the past 30-plus years, Othman Ibrahim has been at the forefront of the constantly evolving and highly demanding world of supply solutions and consultancy services for the petroleum exploration and production industry. As the Vice Chairman and Group CEO of Rawabi Holding, Ibrahim has led the company’s growth to become a leading conglomerate in Saudi Arabia and one of the fastest-growing companies in the Middle East.
During his tenure at Rawabi Holding, massive expansion and diversification of products and services across a variety of industries have helped to strengthen the economic development of the region. Today, Rawabi Holding is the leading offshore services provider in the kingdom and recognised as an enabler of seamless services with a focus on safety, quality, on time delivery, and superior customer support.
Ibrahim is also the Executive Vice Chairman of Rawabi Holding Board of Directors, the Chairman of the Board’s Investment Committee and the Vice Chairman of Rawabi Energy Company, one of the subsidiaries of Rawabi Holding. He played a pivotal role in overseeing Rawabi Energy and its subsidiaries successful conclusion of one of the largest private sectors syndicated financing in Saudi Arabia with the financial close of SAR7.175 billion ($1.91 billion) syndicated multi-currency senior secured term and revolving SAR and USD facilities.
Realising the growing demand for high-end sustainable projects, Rawabi Holding established Magnom Properties, which Ibrahim also leads as the Vice Chairman. As countries in the region work towards fulfilling their Net Zero goals, Magnom Properties aspires to be part of the solution on climate change. Othman’s vision for this new venture is to create dynamic environments and developments to cater to the rapidly evolving lifestyles and aspirations of businesses, industries, and future generations. As such, Magnom Properties will be constructing high-value commercial, residential and lifestyle projects in the kingdom and across the region.
The company’s belief that strategic business partnerships are vital to build competencies, enhance competitiveness and create entirely new market opportunities has led Othman to partner with Forbes to build zero-carbon commercial towers across the UAE, Saudi and Egypt. These sustainable real estate projects will be developed in partnership with Adrian Smith + Gordon Gill Architecture and The Carbon Lab based in Chicago.
As a purpose-driven and responsible business house, Rawabi Holding works under the goals of the kingdom’s Vision 2030, which places sustainability at the heart of everything it does. Ibrahim realises that the changing macroeconomic conditions, political climate and volatile oil prices are impacting project timelines of several developments across the region. Some of the more immediate challenges are evident in the path to meeting net zero targets where there are gaps in making firm commitments to push sustainable development opportunities.
He believes that an integrated approach to sustainable development is required to improve competitiveness of the various sectors to be on par with mature markets worldwide. Overcoming challenges in sustainable development will require a shift in mindsets as well as continued collaboration and innovation, which Othman is working towards through his leadership role at Rawabi Holding.
Name: Paul Griffiths
Designation: CEO
Company: Dubai Airports
Industry: Aviation
With the responsibility for the operation and development of Dubai International (DXB) as well as Dubai World Central (DWC), Griffiths joined Dubai Airports as its first CEO in October 2007. One year later, he launched Terminal 3 at DXB and in 2010, launched the Emirate’s second airport, DWC. He achieved another milestone in Dubai’s aviation history in 2013 with the opening of Concourse A, the world’s first purpose-built A380 facility followed by Concourse D in 2016.
Under his leadership, Dubai Airports successfully managed the Covid-19 crisis and became one of the first airports to welcome back international tourists. Previously, he was the managing director of London’s Gatwick Airport. Before joining airport operator BAA in 2004, he spent 14 years with the Virgin Group, working closely with Sir Richard Branson as a board director of the Virgin Travel Group.
Dubai Airports reported a milestone as DXB registered 22.9 million passengers in Q3 2023, marking the highest quarterly traffic since 2019. As of the first nine months of the year, the total year-to-date traffic reached 64.5 million passengers, reflecting a 39.3 percent increase compared to the same period in 2022. India retained its position as DXB’s leading country destination in terms of traffic volume, with 8.9 million passengers in the first nine months of the year. KSA followed closely with 4.8 million passengers, and the UK recorded 4.4 million passengers during the same period.
Dubai International Airport (DXB) made a stellar start to 2024 by recording its busiest quarter in history, with 23m guests passing through its terminals, marking an 8.4 per cent increase compared to the same period last year.
Dubai Airports said that the total passenger traffic for the quarter reached 23,052,060 guests, with January recording the highest traffic at 7.9m.
Paul Griffiths, CEO of DXB, said: “The robust growth trajectory at DXB continued in the first quarter of the year, with the hub recording some truly impressive numbers.
Thanks in part to the proliferation of cities being added to our network by our home base carriers, Emirates and flydubai, in recent months.
“As Dubai emerges as a global leader in attracting talent, businesses, and tourists from across the globe, our focus remains on sustaining growth momentum and enhancing the overall airport experience for every guest passing through our terminals.
“With a strong start to Q2 and an optimistic outlook for the rest of the year, we have revised our forecast for the year to 91 million guests, surpassing our previous annual traffic record of 89.1m in 2018,” he said.
And in January this year, Griffiths was honoured as the Businessperson of the Year at the Arabian Business Achievement Awards held in Dubai.
Name: Shamsheer Vayalil
Designation: Founder and Chairman
Company: Burjeel Holdings
Industry: Healthcare
Dr. Shamsheer Vayalil, a distinguished figure in healthcare leadership and strategic investment, possesses an extensive track record within the healthcare industry. Helming Burjeel Holdings, he also holds the position of chairman at Amanat Holdings, a premier integrated healthcare and education investment company in the region, with a paid-up capital of $680 million (AED2.5 billion) listed on the DFM.
With an entrepreneurial trajectory exceeding 17 years, Vayalil has been instrumental in leading two companies he founded, Burjeel Holdings and RPM, to listings on the Abu Dhabi Securities Exchange. He serves on the Board of Response Plus Holding (RPM), the UAE’s largest provider of onsite healthcare, medical emergency services, and occupational health solutions. Furthermore, as the founder of VPS Healthcare, he oversees a diverse investment portfolio including entities such as LifePharma, Lakeshore Hospital, Ziva, Keita, and Educare Institute. Vayalil is also a member of the UAE Medical Council.
He completed his medical training at Kasturba Medical College, India, after which he received additional specialty training in radiology. He has been the recipient of several local and global accolades for his continuous pursuit of excellence in developing healthcare and entrepreneurship. Vayalil is the recipient of the Pravasi Bharatiya Samman Award, India’s highest civilian award presented to non-resident Indians, and the GPF Global Humanitarian Award. In addition to his corporate responsibilities, he remains committed to building capability and capacity in the region.
Since launching his inaugural hospital in Abu Dhabi in 2007, Vayalil has been instrumental in propelling Burjeel Holdings to become the preeminent private healthcare services provider in the UAE. His leadership is instrumental in enhancing the standard of care across various population segments, through Burjeel Hospitals, Medeor Hospitals, LLH Hospitals, Lifecare Hospitals, Tajmeel, and PhysioTherabia.
His acumen in identifying market opportunities and driving the expansion of healthcare services has established him as a top investor in the leading healthcare firms across the MENA region and India. Under his guidance, his portfolio companies have become pivotal in the healthcare sector, fostering a comprehensive and integrated network of hospitals, medical centres, pharmacies, and related services.
Employing a strategic vision and innovative approaches, Vayalil addresses broader healthcare challenges. Under his guidance, RPM has broadened its operational reach to key markets, including KSA, Oman, India, and Ethiopia. Furthermore, as the driving force behind Amanat Holdings, he sets strategic directions, manages corporate governance, and spearheads efforts to generate value and exert a beneficial impact on shareholders, partners, and communities.
Throughout his tenure, Vayalil has engaged in strategic collaborations with governments and key stakeholders to address humanitarian crises globally. As a distinguished figure in healthcare, he has led key initiatives in regions experiencing healthcare deficits worldwide. Under his stewardship, Burjeel Holdings has joined hands with the governments of the UAE and Egypt to provide critical medical assistance to individuals from conflict-affected zones.
Name: Shayne Nelson
Designation: Group CEO
Company: Emirates NBD
Industry: Banking
Shayne Nelson is a highly experienced banker with over 30 years in the industry. He currently serves as Group CEO and Director of Emirates NBD, one of the largest banks in the UAE. Under Nelson’s leadership over the past eight years, Emirates NBD has significantly expanded its operations and digital capabilities.
Prior to joining Emirates NBD, Nelson held several senior roles across Asia Pacific and the Middle East. He spent three years as CEO of Standard Chartered Private Bank in Singapore, where he also chaired the Islamic advisory board. Based in Dubai, Nelson acted as Regional CEO of Standard Chartered Bank for Middle East and North Africa from 2006 to 2010.
Nelson’s other past positions include serving as CEO and Managing Director of Standard Chartered Bank Malaysia, Regional Head of Corporate and Institutional Banking Audit for Asia Pacific and India, and Regional Head of Credit for Hong Kong, China and Northeast Asia. He also led Corporate and Institutional Banking for Westpac Banking Corporation in Western Australia.
At Emirates NBD, Nelson has overseen eight years of tremendous growth. The bank’s market capitalisation has risen from AED15.8 billion to around AED90 billion under his leadership. Assets have grown from AED308 billion to AED700 billion, with acquisitions like the successful $2.7 billion purchase of DenizBank in Turkey. Emirates NBD maintains the largest market share in both UAE corporate and retail banking.
In addition to his Group CEO role, Nelson sits on the boards of various Emirates NBD subsidiaries and associated companies. He is also a member of bodies such as the International Monetary Conference and Advisory Board of the University of Wollongong in Dubai. Emirates NBD continues innovating under Nelson’s direction, introducing new digital banking platforms and mobile apps that are industry-leading. The bank is transitioning to data-driven, digital operations while expanding its focus on ESG and renewable energy finance.
Outside of work, Nelson enjoys spending time with his family, which includes his Malaysian wife Siti Mariana Abdullah and their two children. An avid golfer and fisherman, Nelson also holds a world record catch. His three decades navigating Asia Pacific and Middle Eastern banking showcase his extensive experience and leadership driving corporate growth. Emirates NBD delivered a banner year in 2023, posting a 65 percent surge in annual profits to AED21.5 billion. Quarterly earnings in Q4 grew 3 percent year-over-year, reflecting solid business activity across the region.
Name: Rola Abu Manneh
Designation: CEO
Company: Standard Chartered UAE, Middle East and Pakistan
Industry: Banking
Abu Manneh, the first Emirati woman to lead an international bank in the UAE, Middle East, and Pakistan, assumed the role of CEO of Standard Chartered UAE in August 2018. Under her leadership, the UAE business became one of Standard Chartered Group’s top three markets globally. She was later appointed as a director on the boards of Standard Chartered banks in Pakistan and Uganda in January and May 2023, respectively. Abu Manneh also serves as a board member at MyZoi, a Standard Chartered subsidiary incubated through SC Ventures.
Recognised for her directorship on the board of the Dubai International Chamber in 2021, Abu Manneh is a staunch advocate for women’s empowerment and female entrepreneurship. She initiates mentorship programmes for university students, equipping them with the necessary skills for success. Her global impact extends to roles such as a member of the Global Council for Sustainable Development Goal 5 – Gender Equality (SDG5), a UAE delegate in G20Empower, and a member of the NYUAD Vice Chancellor’s Leadership Council. Abu Manneh is also a director on the Board of Make-A-Wish Foundation UAE and provides advisory services for both the Global Summit of Women and the Fortune Global Forum.
Before her role at Standard Chartered, Abu Manneh served as Head of Corporate & Investment Banking for Abu Dhabi at First Abu Dhabi Bank (FAB). Before this, she held the position of general manager of FAB’s Wholesale Banking Group, overseeing Project Finance Syndications, Financial Institutions Group, and Global Transaction Banking. Abu Manneh holds a Bachelor of Science in Mathematics & Operational Research from the University of London, Royal Holloway, and Bedford New College.
About Standard Chartered
Standard Chartered’s purpose is to fuel commerce and prosperity through its unique diversity. The bank’s strategic priorities translate this overarching goal into action, aligning its activities with key economic and social trends in the markets it serves. This approach shapes the bank’s engagement with customers and society, driving its growth by responding to these shifts.
Moreover, Standard Chartered has committed to supporting the UAE’s sustainability objectives, with a dedicated team focusing on environmental, social, governance, and sustainable finance. The bank is strategically positioned to allocate its resources to assist the UAE in reaching its 2050 net-zero target.
Priority Private, Standard Chartered’s newest wealth management service for the UAE’s affluent population, is designed to connect high-net-worth clients with exceptional financial opportunities. This exclusive service offers a range of tailored solutions to meet the diverse needs of affluent individuals including priority servicing, custom investment solutions, and lifestyle perks.
Looking to the future, Priority Private plans to introduce new enhancements and developments. To maintain its position as a leader in wealth management innovation, Standard Chartered is committed to helping the UAE’s affluent clients achieve their financial objectives.
Name: Sunny Varkey
Designation: Founder and Executive Chairman
Company: GEMS Education Group
Industry: Education
Considered as Dubai’s trailblazer in education, Varkey has spearheaded the establishment of a worldwide educational group. Under his leadership, GEMS Education Group has expanded to own and manage over 60 schools in the MENA region alone. Currently, the group holds the distinction of being the largest non-governmental operator of private K-12 schools globally, catering to approximately 140,000 students from over 150 countries with 400,000 successful alumni placed throughout the world.
Born in Kerala, India, Varkey’s family shifted base to Dubai in 1959 and after going abroad to attend a boarding school, he returned to Dubai in 1970. By then, his parents had already inaugurated the Our Own English High School in Dubai. Varkey took over the helm in 1980 and throughout his career trajectory, has witnessed advancement within the realms of education in the region. Notably, he established the Varkey Foundation, a key force behind the prestigious $1 million Global Teacher Prize, an accolade widely acknowledged within the education sector.
The GEMS Education Group boasts a diverse and international presence, with operations spanning several countries across the globe, including but not limited to Singapore, Kenya, Uganda, Egypt, Libya, Jordan, the US, and Switzerland. This extensive network underscores the group’s commitment to delivering high-quality education across different cultural and geographic landscapes.
In parallel to his significant contributions in the corporate realm, he is also the visionary behind the Varkey Foundation, a charitable organisation dedicated to improving the standards of education for underprivileged children around the world. This initiative reflects his deep-rooted belief in the transformative power of education and his commitment to social responsibility.
Further solidifying his dedication to philanthropy, Varkey has been honoured with the designation of UNESCO Goodwill Ambassador, a role that recognises his persistent efforts and contributions towards educational and charitable causes globally. His philanthropic journey is further highlighted by his commitment to The Giving Pledge, an initiative that sees him dedicating a considerable portion of his personal wealth to philanthropic activities. This pledge not only exemplifies his altruistic spirit but also sets a precedent for impactful charitable engagement, aiming to address some of the most pressing challenges faced by communities worldwide.
The group is poised to inaugurate a net-zero energy school within Abu Dhabi’s Masdar City in September 2024. The GEMS Founder’s School – Masdar City (GFA) is designed to be energy self-sufficient, aligning with the UAE’s commitment to sustainability by significantly reducing its carbon emissions. The facility will be equipped with a comprehensive solar panel system spanning 9,500 sq m, expected to produce 3.1 million kilowatts of energy annually. These panels will not only supply power to the entire school but will also offer shade for the building’s roof, car park, and pathways, enhancing energy efficiency.
Name: Talal Moafaq Al Gaddah
Designation: Founder and CEO
Company: Keturah
Industry: Real estate
With a wealth of experience and a drive for innovation, Al Gaddah stands out as a pioneering figure in the real estate sector. As the visionary behind MAG Lifestyle Development, he has overseen a multitude of ground-breaking projects that have transformed the landscape of the UAE.
From iconic residential towers to visionary mixed-use developments, his portfolio showcases a steadfast commitment to excellence and a dedication to creating spaces that inspire, elevate, and revitalise communities. Al Gaddah’s current real estate portfolio exceeds $5 billion, encompassing 14 completed projects and seven projects currently in progress.
In 2022, marking a landmark year, Al Gaddah introduced the Keturah brand, a cutting-edge concept that embodies luxury intertwined with wellness principles. This pioneering endeavour underscores his exceptional talent for blending luxury with sustainability, positioning the Keturah brand as a frontrunner in shaping future global developments.
Subsequently, his forward-thinking approach has propelled the Keturah brand beyond traditional real estate boundaries, promoting a lifestyle centred on innovation, exceptional quality, and holistic well-being. This marks a significant shift in the industry towards creating communities that serve as bastions of sustainable and enriching living environments. As a visionary leader driving transformative innovation in real estate, Al Gaddah embodies a commitment to excellence, sustainability, and community well-being. His visionary outlook transcends conventional boundaries, driving forward a future where innovation and sustainability converge seamlessly in real estate development.
Keturah made its debut at The Ritz-Carlton Residences, Dubai, Creekside with Keturah Resort, the inaugural development in the region to actively pursue a WELL Health-Safety Rating certification. Shortly thereafter, Keturah Reserve was introduced, marking another first in the Middle East with its innovative ‘Bio Living’ concept, providing residents with an immersive experience in landscaped nature to enhance their physical, mental, and emotional well-being significantly.
Positioned as a game-changer in luxury real estate, Keturah seamlessly integrates extravagance with well-being to deliver unparalleled living experiences. Under the leadership of Al Gaddah, Keturah transcends traditional norms by offering transformative environments that prioritise holistic wellness, sustainability, as well as community cohesion. From the distinguished Keturah Resort to the innovative Keturah Reserve, each project epitomises excellence and sets new benchmarks for luxury living not only in the UAE but also on a global scale.
Name: Sir Tim Clark
Designation: President
Company: Emirates Airline
Industry: Aviation
In addition to his current role at Emirates Airline, Clark is also the chairman of the Emirates Airline Foundation. He joined the Emirates airline’s founding team in 1985 in the role of head of Airline Planning and went on to become its president in 2003. He has been instrumental in the transformation of Emirates into the global giant it is today. Also, in June 2022, he was appointed to the board of DP World as an independent non-executive director.
Prior to Emirates, Clark built his reputation as a talented route planner at Gulf Air, which had recruited him from Caledonian Airways. He previously has also held the position of managing director of Sri Lankan Airlines until 2008. In the 2014 Queen’s New Year’s Honours list, Clark was invested as a Knight of the Most Excellent Order of the British Empire (KBE) for services to British prosperity and to the aviation industry.
In November 2009, he was conferred an “Officier de la Legion d’Honneur” by the French government for services to transport and aviation, and he holds the 2009 Gold Award from the Royal Aeronautical Society for his contribution to civil aerospace. At the 2011 Airline Business and Flightglobal Achievement Awards, he was recognised as Leader of the Year, and in 2013, he received the Centre for Aviation (CAPA) Legends award and was inducted into the CAPA Hall of Fame.
Clark holds a degree in Economics from London University, UK, and is a fellow of the Royal Aeronautical Society. He also holds an honorary doctorate from the University of Middlesex and an honorary degree from the Newcastle Business School at Northumbria University, both in the UK.
As of November 2023, The Emirates Group announced its best-ever six-month financial result. The group is reporting a 2023-24 half-year net profit of $2.7 billion, surpassing its record half-year profit of $1.2 billion last year by 138 percent. The group also reported an EBITDA of $5.6 billion, a significant improvement from $4.2 billion during the same period last year, illustrating its strong operating profitability.
Group revenue was at $18.3 billion for the first six months of 2023-24, up 20 percent from $15.3 billion last year. This surge was driven by the strong demand for air transport across the world, which has been on an upward trajectory since Covid-19 travel restrictions were lifted. The group closed the first half year of 2023-24 with a solid cash position of $11.6 billion on 30 September 2023, compared to $11.6 billion on 31 March 2023.
Emirates, the world’s biggest long-haul airline, is preparing to hire 5,000 cabin crew this year as it prepares to take the delivery of its new fleet of Airbus A350 wide bodies this summer and Boeing 777X planes in 2025. The airline is seeking to hire new graduates with internships or part-time jobs on their CVs and those with about a year of hospitality or customer service experience.
Last year, the airline hired 8,000 cabin crew and held recruitment events in 353 cities as it ramped up services to meet a boom in travel after the pandemic. In August 2023, the airline’s cabin crew numbers crossed the 20,000 mark. It now stands at 21,500, with the new recruits set to boost that figure by 25 percent. The airline also ordered 110 additional Airbus and Boeing wide-body aircraft for a total value of $58 billion at list prices during the Dubai Airshow in November 2023, as part of its ongoing future growth plans.
Name: Tony Jashanmal
Designation: Group President
Company: Jashanmal Group
Industry: Retail
Born in Kuwait and educated in India and Switzerland, Jashanmal assumed the role of managing director of the group for its Kuwait operations in 1973. During his tenure, he successfully instituted new business ventures, spearheaded the reconstruction of operations post the first Gulf War, orchestrated the group’s strategic expansion into India, and facilitated various joint ventures. Known for his innovative mindset, Jashanmal is dedicated to fostering brand development in the GCC region through the group’s retail operations, distribution, and wholesale network.
The group’s legacy began in 1919 when Rao Sahib Jashanmal, the patriarch of the family, launched a single general store in Basra, Iraq. As the oil industry expanded throughout the GCC, so too did the Jashanmal business, which by the 1960s had established its presence in all the markets it operates within today. A century later, the Jashanmal Group has forged strong collaborations with international business partners from the premium and luxury sectors and an extensive distribution and wholesale network across the fashion, footwear, home appliances, travel gear, and publishing sectors.
The group has initiated a comprehensive plan aimed at expanding and modernising their department stores and bookstores, integrating the latest in retail innovations to enhance the shopping experience. Concurrently, their distribution business is undergoing significant updates in collaboration with key retail partners across the region, ensuring that Jashanmal continues to adapt and thrive in the ever-evolving commercial landscape of the GCC.
With a portfolio comprising approximately 110 brands, including 30 regional exclusives, the group’s retail footprint extends across 150 stores in Kuwait, UAE, Bahrain, Oman, and India. Supported by a robust distribution network comprising over 1,000 points of sale, Jashanmal is headquartered in Dubai, with offices located in Abu Dhabi, Kuwait, Bahrain, Oman, Qatar, KSA, and India. Their diverse product range includes luggage, home appliances, corporate gifts, perfumes, cosmetics, consumer electronics, and print media. Jashanmal’s clientele encompasses a wide array of business sectors, including Duty-Free operators, supermarkets, hypermarkets, and department stores.
The group serves as a franchise partner for international brands such as Bally, Reiss, Brooks Brothers, Santoni, Porsche Design, MAX&Co., Replay, and group entities including Jade, Harmony, OCS, MINIML, and Trolka.
In a strategic move to enhance brand visibility and customer engagement, Jashanmal reinvigorated its brand identity in 2019, incorporating advanced in-store technologies to foster a seamless shopping experience. This initiative included a comprehensive overhaul of the retail website and the modernisation of a flagship store with interactive tablets and touchscreens, thereby enriching the digital shopping experience for both sales associates and customers.
Jashanmal has fundamentally transformed the dynamics of their supply chain, embarking on strategic investments aimed at fostering growth, optimising operations with an emphasis on human resources and assets.
Name: Thomas Lundgren
Designation: Founder
Company: THE One
Industry: Retail
A philanthropist and retailer, Lundgren launched its first store in Abu Dhabi in 1996 that was conceived as an antidote to IKEA. With stores spread across the MENA region, his focus is on selling emotions rather than commodities, characterising THE One stores as theatres where seasonal home fashion shows unfold and are curated by a team of decorators.
Larger stores prioritise furniture, with accessories complementing the arrangement, while smaller stores, termed boutique theatres, highlight accessories and incorporate furniture to enhance the overall accessory experience. Fascinated by furniture, he still plays a role in the design at THE One and curates around 60 percent of the creations showcased at his stores.
A UAE-grown lifestyle brand showcasing seasonal collections of affordable home fashion, THE One boasts over 22 stores and 1 Bistro Restaurant across the MENA region. THE One has expanded its footprint in the UAE with retail outlets in Dubai Hills Mall, Mall of the Emirates, Al Quoz, Jumeirah Beach Road, and Jumeirah 1 in Dubai, as well as at Al Ain Mall, Yas Mall, and in the Mushrif Area in Abu Dhabi.
Lundgren supports multiple local and international charities and the brand promotes their Do Good initiatives. These encompass ethical sourcing, challenged employees, local volunteering as well as global education through THE Onederworld. THE One brand today consists of: THE One; FUSION by THE One; THE One Basics; THEOne.com; and THE One Bistro.
Having wanted to leave Sweden, Lundgren’s rise began when saw an ad for IKEA in Saudi Arabia and decided to take it. He then started working as a decorator for the brand.
“My father died when I was five years old. So my mother was really doing a remarkable job. We had very little means. So every month, we were waiting for the money, insecurity etc. I dreamed there must be something much better. I just wanted to move out of Sweden, I just thought there must be a better life for me somewhere else.”
But he didn’t exactly hit the big time on day one. He first started dreaming up the idea of running his own show in 1993, but spent a full year going from bank to bank, and being rejected by everyone. Nobody was in slightest bit interested in lending in the $4 million he forecast was needed to get the venture off the ground.
In 1995, he teamed up with Rashed Al Mazroui and Shakir Abal, and after several months of “blood, sweat and tears” managed to open his first shop in Abu Dhabi. By his own admission, that proved “a disaster” and he relocated to Dubai. Worse was to come. “Fires, floods, cash flow problems, people problems, heart problems, bank problems, supplier problems, psychological problems, you name it, we have been through it,” he states on his own website.
Name: Yogesh Mehta
Designation: CEO
Company: Petrochem Middle East
Industry: Energy
Driven by passion and a need to succeed, Yogesh Mehta established the brand in 1995 at age 35 which today is considered one of the best in the chemicals industry. With an annual turnover in excess of $2 billion, Petrochem is the largest chemical distributor in the Middle East and the 12th largest distributor in the world.
Apart from their state-of-the-art tank farm in Jebel Ali Free Zone in the UAE, The company also has two large bulk chemical storage terminals in Egypt (Adabiya and Port Said) that can store more than 55,000 tonnes of various chemicals and a drumming and logistics facility in KSA which has not only expanded their portfolio, but has created economies of scale.
Petrochem distributes chemicals across pharmaceutical, oilfield, and paint, coating, printing and packaging industries, in more than 32 countries. Under his leadership, Petrochem Middle East has now expanded into chemical trading, tank leasing and logistics. With new expansion plans already underway, Petrochem is newly tripling its chemical storage and distribution capacity with stainless steel tanks with manufacturing and blending capability in Jebel Ali investing more than $95 million to committing to sustainable development in UAE.
Construction of this large bulk storage terminal has already started a few months ago to complete in late 2025. Petrochem have offices in China, Singapore, Taiwan, London, Egypt, and India with their corporate head office in Dubai.
Mehta earned his Bachelor of Science degree in Chemistry from Mumbai; India and his first job was at his father’s chemical manufacturing factory in western India. It was here that Mehta honed his innate leadership skills and gained valuable hands-on business experience. He then went on to open his own chemical trading business, which enjoyed limited success. Mehta then relocated to Dubai in 1990, and in five years, managed to establish a successful chemical distribution business and become a market leader. Mehta attributes his company’s success to the team of engineers and professionals who are like a family.
His son Rohan joined Petrochem eight years ago and is very successful in his own right. Rohan plans to take the company to new heights and believes that they have just started the growth period at Petrochem.
Mehta is a Harvard Business School Alumni and a trustee board member of GSN, Global Sustainability Network, supporting human rights and abolition of child slavery. He is also the vice chairman and Trustee of the iconic BAPS Temple being built in Abu Dhabi and a board member of the Education for Employment ( EFE) Middle East chapter.
Mehta’s contribution to the Dubai music and culture and arts is legendary and has promoted several events regularly.
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