The Indian business community holds a significant presence and exerts a substantial influence within the Gulf Cooperation Council (GCC) countries, comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. This community represents a diverse array of industries, ranging from construction and manufacturing to retail, healthcare, and information technology.
One of the key pillars of the GCC’s economy is its Indian expatriate population, which constitutes a considerable portion of the workforce. Indian professionals, skilled workers, and entrepreneurs contribute their expertise and labour to various sectors, driving innovation, productivity, and economic growth in the region. Their presence is particularly notable in sectors such as engineering, healthcare, hospitality, and finance.
Indian businesses in the GCC benefit from strong bilateral trade relations between India and the Gulf countries. They act as crucial facilitators of trade, both importing goods and services from India and exporting products to meet the demands of the local market. This symbiotic relationship enhances economic ties and fosters mutual prosperity.
Moreover, Indian businesses operating in the GCC demonstrate a remarkable ability to adapt to the cultural nuances and business environment of the region. They tailor their products, services, and marketing strategies to resonate with the preferences and sensibilities of the local population, thereby strengthening their market position and fostering deeper connections with customers.
Despite facing challenges such as regulatory complexities and market competition, the Indian business community in the GCC remains resilient and dynamic. Through their entrepreneurial spirit, innovation, and commitment to excellence, Indian businesses continue to play a pivotal role in driving economic development, promoting cross-cultural exchange, and enhancing the long-standing ties between India and the Gulf countries.
Name: Adeeb Ahamed
Designation: Managing Director
Company: LuLu Financial Holdings
Industry: Finance
Adeeb Ahamed is a renowned entrepreneur and business leader based in Abu Dhabi. He currently heads up several major companies in the financial services, retail and hospitality sectors.
Ahamed holds an MBA in International Management from Royal Holloway, University of London. Adeeb started his entrepreneurial journey with the founding of Lulu Financial Holdings in 2009 which has since grown into a global financial services conglomerate.
LuLu Financial Holdings operates over 300 branches across 10 countries in the Middle East, Indian subcontinent, and Asia Pacific regions, facilitating billions of dollars in annual transactions. In addition to his role as Managing Director of LuLu Financial, Ahamed also serves as Managing Director of Twenty14 Holdings, a $750 million Abu Dhabi-based holding company with investments in luxury hotels worldwide.
Some of Twenty14’s flagship properties include the iconic Great Scotland Yard Hotel in London, Pullman Downtown Dubai, Port Muziris in Kochi (India’s first Tribute Portfolio by Marriott hotel), and the Sheraton Oman Hotel in Muscat.
Due to his extensive business experience and success in transforming companies into global giants, Ahamed holds advisory and board positions with numerous organisations. Some of these include the South Asia Regional Strategy Group of the World Economic Forum (WEF), UAE’s Foreign Exchange and Remittance Group, Chair for FICCI Middle East, World Tourism Forum and Kochi Biennale. Ahamed’s accomplishments have earned him a long list of prestigious awards over the years.
Some recent honours include Leading Fintech Personality of the Year (GCC) at the Global Fintech Awards, ABLF Outstanding Business Achiever Award, Forbes Top Indian Business leaders in the Middle East, NDTV Gulf Indian Excellence Award, Qadat Al Tagheer Award and Financial Institution of the Year Award by Arabian Business.
In addition to his corporate responsibilities, Ahamed is deeply committed to social causes. He supports initiatives focused on girls’ education, healthcare for children and the elderly, and community development projects in India.
Ahamed firmly believes that incredible progress is possible when businesses emphasise human values such as responsibility, integrity and service to society. When not growing his companies or engaged in philanthropic work, Ahamed can be found splitting his time between the UAE and India.
He maintains an office in Abu Dhabi from where he provides strategic vision and leadership to LuLu Financial Holdings and Twenty14 Holdings. Through his diverse business portfolio and passion for social welfare, Ahamed is making an impact on a global scale.
Name: Adnan Chilwan
Designation: Group CEO
Company: Dubai Islamic Bank
Industry: Banking
Dr. Chilwan, a respected figure in the Islamic banking and finance field, boasts nearly three decades of extensive experience within both the conventional and Islamic banking sectors in the region. His wide-ranging roles encompass representation of DIB in strategic investments, subsidiaries, and associate companies. He presides as the chairman of DIB Bank Kenya Ltd. and holds board memberships in organisations such as Noor Bank, Deyaar, Liquidity Management Centre in Bahrain, and Dar Al Sharia.
Dedicated to the global advancement of Islamic finance, Chilwan collaborates with governments and institutions, both within and outside the UAE. He frequently shares his expertise at forums and academic seminars, including those held at key institutions like the University of Cambridge and Cass Business School. He also serves on the advisory council of the Higher Colleges of Technology (HCT) in the UAE. With a PhD and MBA in marketing, Chilwan is a certified Islamic Banker (CeIB) and holds a postgraduate degree in Islamic Banking & Insurance, contributing as an associate fellow member of the Islamic Finance Professionals Board to raise industry standards.
About Dubai Islamic Bank
Founded in 1975, DIB is recognised as the premier Islamic bank in the UAE and as the world’s inaugural comprehensive Islamic bank. The bank is listed on the Dubai Financial Market and stands as the second largest Islamic bank globally.
DIB offers a wide range of innovative Sharia-compliant products and services to its retail, corporate, and institutional clientele. The bank has been honoured with several awards in recognition of its efforts across retail, corporate and investment banking, in addition to its commitments in CSR and consultancy services.
DIB has expanded its international footprint through DIB Pakistan Limited and marked its presence in the Far East with Panin Dubai Syariah Bank in Indonesia, where DIB maintains a significant stake. Following the approval from the Central Bank of Kenya in May 2017, DIB operates its subsidiary, DIB Kenya Ltd. Officially recognised as a Domestic Systemically Important Bank (D-SIB) in the UAE in 2018, DIB solidified its global stance with the acquisition of Noor Bank in 2020. By the end of the first nine months of 2023, DIB recorded a net profit of $1.3 billion, attributing the increase to growth in core revenues, non-funded income, and a reduction in impairment charges.
In June 2023, DIB introduced ‘DIB alt’, a holistic digital banking platform designed to transform customer interactions. This strategic initiative integrates over 135 digital services, offering a seamless and convenient banking experience across multiple channels, thereby establishing DIB alt as a comprehensive solution for all digital banking needs.
In February 2024, DIB introduced the SHAMS credit card in collaboration with Visa. Designed to cater to the preferences of diverse customer segments, including the affluent and the emerging affluent, the SHAMS Visa credit card transcends traditional reward schemes by offering an array of daily and lifestyle benefits.
Name: Alisha Moopen
Designation: Deputy Managing Director
Company: Aster DM Healthcare
Industry: Healthcare
Moopen previously served as the director at Aster DM Healthcare since 2013. Following a strategic shift involving a $1 billion transaction in Q4 2023 with key investors from the Gulf, she was appointed to the role of managing director for the GCC operations. A chartered accountant certified by the Institute of Chartered Accountants of Scotland, Moopen has a solid foundation in finance and accounting, thanks to her tenure at Ernst & Young. She is an alumnus of the University of Michigan, USA, holding degrees in both finance and accounting and has also completed a programme in Global Leadership and Public Policy Change at Harvard University, USA.
In addition to her role at Aster DM Healthcare, Moopen is the inaugural female Chapter Chair of the Young Presidents’ Organisation (YPO) Dubai Chapter, promoting networking among CEOs across more than 130 countries. Passionate about promoting women’s empowerment and mental health awareness, she launched the Women in Leadership programme at Aster DM Healthcare. This initiative is designed to nurture and provide leadership pathways for the organisation’s talented female workforce, challenging traditional barriers to their professional advancement.
About Aster DM Healthcare
In November 2023, Aster DM Healthcare announced a major corporate restructuring. A consortium led by Fajr Capital acquired a 65 percent share in its operations within the UAE and the Gulf, aiming to bolster Aster DM’s position in KSA and build on its presence in Oman and Qatar. Concurrently, the Moopen family increased their ownership in the company’s India operations to 42 percent. This strategic adjustment is instrumental for Aster DM Healthcare’s targeted growth and enhanced visibility in the market.
Aster DM Healthcare’s agreement with Fajr Capital, which values its GCC business at $1.7 billion, is anticipated to generate a minimum of 2,000 employment opportunities in the upcoming years. The firm is strategising its expansion into KSA, with plans to establish approximately 250 pharmacies across the kingdom. Additionally, preparations are underway for the launch of the Medcare Royal Hospital in Al Qusais.
According to the official website, the separation plan will unlock value for the shareholders by allowing both the India and GCC businesses to adopt a market-focused strategy and create sustained long-term growth. The current market cap of the combined India and GCC business stands at $2 billion. The transaction values the GCC business at an enterprise value of $1.7 billion, and an equity value of $1 billion.
Recent bilateral treaties have bolstered the robust India-UAE relationship, elevating bilateral trade to $85 billion in 2022-23 and making the UAE India’s third-largest trading partner. In the healthcare sector, collaboration is crucial, especially in utilising medical tourism to enhance facility use and service delivery.
Aster DM Healthcare, listed in India and headquartered in the UAE, leads this effort, operating 19 hospitals, 13 clinics, 226 pharmacies, and 251 labs across five Indian states, solidifying its position as a premier healthcare provider.
Name: Aloki Batra
Designation: CEO
Company: FIVE Hotels and Resorts
Industry: Hospitality
As a co-founder of FIVE, Batra holds key roles where he merges superior property infrastructure with forward-thinking experiential offerings to propel the brand’s outstanding performance. He has facilitated over $1.7 billion in sales across FIVE Palm Jumeirah, FIVE Jumeirah Village, FIVE LUXE, and Sensoria Residences.
In 2023, FIVE Palm Jumeirah and FIVE Jumeirah Village achieved an average occupancy rate of 92 percent*, exceeding competitors by 27 percent, with an Average Daily Rate (ADR) of $304, and TrevPAR performance 2.3 times higher than its competitive set at $702. Revenue escalated to $570 million in 2023 from $123 million in 2019, marking a 363 percent increase*. FIVE Jumeirah Village, the most reviewed hotel on Booking.com with a 9.1/10 rating, reflects FIVE’s digital-first booking strategy, accounting for 50 percent of reservations.
Batra’s focus on digital innovation in 2023 has significantly enhanced the brand’s digital footprint, amassing a social media following of over 1 million across more than 40 distinct profiles. This digital strategy yielded substantial engagement, with FIVE’s content generating 250 million views across various hashtags associated with the brand. Furthermore, Batra’s thought leadership content on LinkedIn reached an audience of 2.86 million users, demonstrating the effectiveness of social media platforms to amplify brand visibility and engage with a broader audience.
About FIVE
FIVE has established itself as Dubai’s leading party and lifestyle destination, welcoming over five million guests from 192 nationalities, and hosting over 4,900 music events with more than 500 top DJs. Under Batra’s guidance, FIVE Music has become a hub for global talent and music events and the FIVE Music Studio at FIVE Palm Jumeirah serves as a collaborative space for creatives in the music industry. Batra also introduced Fly FIVE, offering a luxury private jet experience.
Batra has been instrumental in the development of FIVE LUXE at Jumeirah Beach Residence (JBR), which recently launched as a prime property. This ultra-luxurious beachfront resort features hotel rooms, residences, and exclusive amenities like a private beach club and extensive wellness facilities, all boasting panoramic sea views of the Arabian Gulf, Dubai Eye, and Palm Jumeirah. Each of the luxurious rooms, suites, and residences are equipped with private pools, hot tubs, spas, and exclusive access to the vibrant pool scene.
Batra’s ambition extends to FIVE’s international growth, highlighted by the $330 million acquisition of Europe’s Pacha Group, paving the way for the rebranding of Pacha’s Destino Hotel to FIVE Brand Hotel in 2025 and the launch of Lío at FIVE LUXE. Efforts are also underway to upgrade Pacha’s properties to achieve LEED Platinum and LEED Zero status. FIVE Holdings is strategising to initiate an Initial Public Offering (IPO) within the next two years on the UAE stock exchange which will position FIVE Holdings among a select group of private companies poised to go public in the UAE, underscoring FIVE Holdings’ identity as a brand developed in Dubai.
(*2023 Proforma Revenue and Proforma EBITDA figures include estimated unaudited revenue and EBITDA figures of FIVE and unaudited management accounts of Pacha as if Pacha was acquired on January 1, 2023.)
Name: Ajay Bhalla
Designation: President Cyber and Intelligence Solutions
Company: Mastercard
Industry: Technology
In addition to his current leadership position, Bhalla plays a significant role as a vital member of Mastercard’s global management committee, contributing to the company’s strategic direction. With an impressive career trajectory, he previously served as the president of Mastercard’s Digital Payment Services, navigating the dynamic landscape of digital payments.
Bhalla’s leadership skills were evident during his tenure as the president of Mastercard for South Asia and Southeast Asia, where he played a crucial role in enhancing the company’s presence in these key regions. Before joining Mastercard, he held influential roles at HSBC and Xerox, contributing significantly to the financial and technology sectors.
Beyond his corporate roles, Bhalla actively shapes various industries. He serves as a board member of PVH Corp, providing strategic insights, and as a senior fellow at The Fletcher School at Tufts University, emphasising his commitment to academic excellence and thought leadership.
His influence extends to science and technology, holding the position of science fellow at MIT. As an executive in residence at Oxford University, he facilitates collaborative approaches to address complex challenges. In the realm of global governance and cybersecurity, he serves as a strategic advisor to the World Economic Forum and plays leadership roles in the Executive Steering Committee for Digital Trust and the Global Council on Cybersecurity.
Mastercard cyber solutions
Over the last five years, Mastercard has invested over $7 billion in strengthening its cybersecurity capabilities, alongside multiple acquisitions. The company has acquired seven firms in this space, facilitating the development and acceleration of various solutions. Additionally, Mastercard has played a role in launching more than 20 cybersecurity startups.
The recent integration of Baffin Bay, a European-based AI security firm, has allowed Mastercard to merge existing data and AI capabilities, resulting in the creation of an AI cyber shield solution to prevent customer breaches. Mastercard implements a robust multi-layered security strategy with four layers, ensuring identification, detection, and prevention of cybercrime.
The incorporation of cutting-edge technologies, including generative AI, enhances security, enabling seamless and secure shopping experiences for consumers. Mastercard innovatively uses generative AI for fraud prevention, anti-money laundering reports, and customer service solutions.
Mastercard launched Crypto Secure, facilitating secure crypto trading capabilities for banks across a vast ecosystem. Mastercard’s commitment to a secure ecosystem includes biometrics trusted by billions.
Security has always been a priority for Mastercard, even predating today’s cyber threats. The challenge with older security methods involved consumers creating complex passwords, leading to inconvenience and a sense of insecurity.
Name: Ashish Vijay
Designation: Founder and Chairman
Company: AV Group
Industry: Retail
Ashish carries forward a family legacy in the gemstone industry that extends over 75 years, transitioning from an early interest in gemstones as a young child to a professional commitment to the craftsmanship of cutting and polishing jewels as a young adult.
His leadership has been instrumental in shaping the gemstone sector in the Middle East.
Ashish notably served as the primary sponsor of the 2023 Coloured Gemstones Association Congress, an event that significantly broadened the industry’s scope within the region and helped to launch new avenues for exploration and opportunity. Leveraging his considerable experience, Ashish has recently been appointed as the director of the Middle East chapter, underscoring his instrumental role in the industry.
Furthermore, his strategic efforts have played a crucial role in unlocking the potential of the Thailand gemstone market. Through targeted initiatives, Ashish and the AV Group have established the UAE as a central hub for the global gemstone trade and commerce and have gone on to transform the industry’s landscape in the region.
AV Group is crafting legacies
The core values of the AV Group, trust, transparency, and tradition are the guiding principles ensuring the quality of their products. Ashish aims to create a deep connection between gemstones and their rightful owners, emphasising that the group specialises in creating legacy pieces that stand out as not only exquisite gems but also as valuable heirlooms, serving as investments to be cherished and passed down through generations.
The group’s innovative approach is highlighted by their commitment to incorporating advanced technologies such as blockchain in the sale of diamonds. This initiative has revolutionised industry practices, introducing a new level of traceability in the rough diamond trade. Ashish has steered the development of a transparent auction platform in Dubai for polished diamonds, gemstones, and jewellery. This platform is notable for its inclusivity, accommodating both B2B and B2C transactions and encouraging competitive bidding and active participation, thereby offering unique opportunities to a wider audience.
Additionally, AV Group is dedicated to maintaining an ethical supply chain, adhering to ethical sourcing, and ensuring all products are comprehensively certified. This commitment helps prevent child labour and slavery within their supply chain and highlights the group’s dedication to the highest ethical standards. The group’s business philosophy is rooted in the belief that ethical practices are essential to building a sustainable and responsible business.
In terms of philanthropy, the group supports initiatives aimed at creating a better future, such as enhancing healthcare services, establishing mobile health clinics in India’s underserved regions, providing essential aid to orphanages, and engaging in educational programmes through a partnership with the Bliss Foundation, an NGO in India. These efforts reflect the group’s commitment to contributing positively to society.
Name: Avinash Babur
Designation: Founder and CEO
Company: InsuranceMarket.ae
Industry: Finance
Babur has played a pivotal role in redefining InsuranceMarket.ae as a reputable and leading insurance provider within the UAE, renowned for its innovative and customer-focused services. Central to this achievement is the introduction of Alfred, the InsuranceMarket.ae brand mascot, a unique marketing proposition conceived by Babur.
Present across various media and physical platforms within the UAE, Alfred epitomises the company’s commitment to simplifying insurance, while encapsulating values of trust and reliability. This strategic branding effort has significantly contributed to positioning InsuranceMarket.ae as a trusted name among UAE households.
Under the strategic direction of Babur, InsuranceMarket.ae distinguishes itself through its comprehensive and varied insurance solutions designed to meet a wide spectrum of customer requirements. The integration of Alfred as a central figure in the company’s branding and marketing initiatives has significantly augmented brand equity. Alfred’s involvement in marketing campaigns and customer engagement initiatives demystifies insurance terminology and concepts, cultivating a persona that is both approachable and trustworthy, thereby appealing to a diverse clientele.
A cornerstone of his leadership strategy has been the launch of myAlfred, an exclusive rewards platform that enhances the overall customer experience by offering unique benefits. This initiative underscores InsuranceMarket.ae’s dedication to customer satisfaction and loyalty, further strengthening the company’s position in the market and highlighting its commitment to providing value beyond mere insurance coverage.
His vision extends beyond current achievements; Babur’s focus on sustainability, technological advancement, and unwavering dedication to customer satisfaction ensures that InsuranceMarket.ae remains at the forefront of the industry. His leadership qualities, including resilience, adaptability, and a forward-looking mindset, have been crucial in navigating the complexities of the market and in fostering a culture of innovation.
A digital first approach
Embracing a digital-first approach, Babur has fundamentally altered the landscape of insurance service delivery, making it more accessible, efficient, and tailored to the modern consumer’s expectations. This shift towards digitisation has streamlined processes, from policy selection to claims management, ensuring a seamless and hassle-free experience for customers.
Babur’s strategic initiatives, including the creation of Alfred and the launch of myAlfred, have played instrumental roles in building InsuranceMarket.ae’s brand equity and making it a trusted name across the UAE. His commitment to digital excellence and customer engagement has not only set new standards for the insurance industry but also established InsuranceMarket.ae as a beacon of trust, innovation, and customer-centricity. Through his visionary leadership, Babur continues to steer the company towards greater heights, promising a future where InsuranceMarket.ae remains synonymous with excellence in insurance.
Key achievements
Since its establishment in 2010 as a pioneering digital initiative within AFIA Insurance Brokerage Services LLC, drawing on AFIA’s esteemed heritage since 1995, InsuranceMarket.ae under Babur’s visionary leadership has evolved into an influential force in the insurance sector. With a dedicated team of over 350 professionals and the iconic presence of their mascot Alfred, the organisation has emphatically prioritised enhancing policyholder satisfaction and experience. This unwavering commitment was evident as they transacted with more than 200,000 policyholders in 2023 alone, marking a significant milestone in their journey towards service excellence and customer care.
Central to InsuranceMarket.ae’s philosophy is the provision of exceptional customer experiences. This commitment is reflected in the impressive accumulation of over 21,000 Google reviews, achieving a stellar 4.8 rating. The company has been instrumental in setting industry standards for customer trust and satisfaction worldwide through its responsive, reliable, and specialised claims management service, which offers essential support during critical times.
However, the value proposition of InsuranceMarket.ae extends beyond the policyholder. Babur and his team have strategically positioned the platform to serve underwriters by delivering quality business at considerable volumes, ensuring a win-win partnership with insurers. This approach not only fosters stronger relationships with insurance providers but also enhances the quality of products and services offered to policyholders.
Similarly, insurance advisors benefit from the state-of-the-art technology platform that InsuranceMarket.ae has invested in, enabling them to serve a significantly higher number of clients efficiently. This investment in technology, alongside substantial commitments in marketing and talent development, underlines the company’s focus on creating value through innovation rather than competing on pricing alone.
InsuranceMarket.ae’s longstanding experience of over 28 years in the insurance domain and its robust partnerships with leading insurers in the UAE insurance market enable it to offer not just competitive deals but also a comprehensive suite of products and services tailored to meet the diverse needs of its clients. The company’s collaboration with premier insurers, including insurance industry leaders like GIG Gulf (AXA), Liva (RSA), Sukoon (Oman Insurance), Qatar Insurance Company, Tokio Marine, and more than 30 other Insurance partners, reflects its commitment to providing reliable insurance solutions.
By prioritising user experience and leveraging proprietary purpose-built technology, this digital overhaul has positioned InsuranceMarket.ae as the de facto provider for insurance in the UAE. InsuranceMarket.ae offers an intuitive online platform, comprehensive digital tools, and mobile applications to empower its customers with the flexibility and convenience of managing their insurance needs anytime, anywhere.
Name: Bally Singh
Designation: Co-founder and Chairman
Company: Hoko Agency
Industry: Entertainment
Singh, a pioneering force in the entrepreneurial landscape, leads Aioka, a brand renowned for its presence at Formula 1 race weekends. With a robust background of over 25 years in organising grand entertainment events and pioneering experiential marketing campaigns worldwide, he has significantly contributed to Aioka becoming a frontrunner in the elite hospitality arena.
Positioned under the Hoko Agency umbrella and excelling in the creation and management of event IPs, Aioka has emerged as the go-to-partner for High-Net-Worth (HNWI) Individuals, leading corporations, and sponsors in search of unmatched hospitality experiences, vibrant brand activations, and innovative product introductions. Originating in Abu Dhabi a decade ago, Aioka has expanded its footprint and will be marking its presence at over 10 race weekends throughout the year 2024.
For the year 2024, Aioka invites patrons to immerse themselves in the opulence of Formula 1, hosting events across locations including KSA, Australia, Miami, Monaco, the Netherlands, Azerbaijan, Singapore, Mexico, Brazil, Las Vegas, Qatar, and Abu Dhabi. Each race weekend is well-designed to blend the pinnacle of luxury with the exhilarating pace of Formula 1, ensuring guests enjoy memorable moments. Aioka’s commitment extends beyond catering to major F1 brands; it also offers tailor-made race weekend experiences that feature prime viewing positions, exclusive VIP lounge access, superior dining options, and unparalleled views of the circuits, promising an unforgettable adventure for all attendees.
Key services
Based in the UAE and previously recognised as The Rich List, Aioka is a key element of Hoko’s portfolio, focusing on the sports and entertainment industries. In 2023, Aioka partnered with the Alfa Romeo F1 Team Stake for the Monaco Grand Prix, enhancing the event for attendees with customised experiences, highlighting its capability in delivering exceptional hospitality and event services.
Aioka Concierge provides exclusive services to HNWIs, including access to F1 Paddock Club passes, yacht charters, hotel and villa bookings, private jet charters, and Michelin Star dining arrangements. Through a strategic alliance with GlobeAir, Europe’s premier private jet charter company, Aioka offers superior private jet services, reinforcing its commitment to service excellence.
Innovation and forward-thinking are at the core of Aioka’s philosophy, which is evident in its adoption of emerging technologies to enhance client services and attract new patrons. The integration of artificial intelligence in its concierge services has introduced benefits including, providing the latest information on dining, charter services, and unique experiences.
Looking forward, Hoko plans to expand into 10 cities in 2024, diversifying its offerings to include event management, public relations, as well as marketing. With its recent launch in KSA and plans to cover all four races, including new additions in Bahrain and Qatar in 2024, Aioka is set to broaden its footprint and impact in the industry.
Name: Dr. Dhananjay Datar
Designation: Chairman and Managing Director
Company: Al Adil Trading
Industry: Retail
Dr. Datar, an entrepreneur with a vision and a commitment to philanthropy, has made a significant mark on the retail industry. Raised in rural India, his journey reflects the principles of self-reliance and a strong determination to face challenges.
From his early days helping in his father’s small grocery shop in Dubai in 1984, his entrepreneurial drive led him to transform the modest establishment into the renowned Adil Group.
Dubbed as the ‘Masala King’ by UAE rulers in 2001, his influence stretches far beyond the realms of the spice trade, serving as a testament to what can be achieved through relentless dedication and a desire to make a meaningful contribution to society. Datar actively participates in a range of philanthropic endeavours, demonstrating a profound dedication to social welfare projects that complement his business and family commitments.
His involvement in these activities underscores his belief in giving back to the community, enhancing the lives of those less fortunate, and contributing to societal betterment. This blend of business success and social responsibility amplifies his legacy, making him much more than a successful entrepreneur, it highlights his role as a compassionate leader who understands the importance of uplifting communities.
Today, the group manages a network of 50 superstores across the Gulf Countries, along with two spice factories, two flour mills featuring modern technology, and an import-export company operating in India. Datar’s influence extends beyond business achievements to significant philanthropic efforts, balancing his family and business commitments effectively.
About Adil Trading
Adil Trading, under Datar’s leadership, achieved notable certifications in 2006, including ISO 22000, HACCP, GMP, and GHP, and introduced over 9,000 Indian products to the UAE market. The company produces more than 700 items, such as flours, spices, and instant foods under the Peacock brand. For over three decades, Adil has provided authentic, hygienic Indian food products in the GCC region. Additionally, it has established a manufacturing unit in Dubai’s Al Quoz industrial area, producing a variety of Indian food products.
The Indian subsidiary, Masala King Exports in Mumbai, is a leading exporter of high-quality Indian pulses, spices, and groceries. In October 2023, Datar was awarded the Icon of Dubai award by the India Today Group, recognising his contributions to the retail industry. The Adil Group, under his guidance, continues to offer high-quality food products, maintaining strong standards and catering to the Indian community’s preferences in Dubai and beyond.
The company also recently overhauled its e-commerce platform. This significant update underscores the company’s recognition of the growing importance of online sales channels. By enhancing the user experience and streamlining the purchasing process, the company aims to not only expand its digital footprint but also to meet the increasing consumer demand for convenient and efficient online shopping options.
Name: Dyuti Parruck
Designation: CEO and Partner
Company: Decisive Zone
Industry: Consultancy
In his current role at Decisive Zone, Dubai’s leading business setup company, Parruck is widely recognised for his expertise in navigating the complex regulatory landscape of Dubai, earning him the moniker ‘Mr. Golden Visa’. His dynamic energy and proficiency in transforming business terminology into compelling narratives of success have distinguished Decisive Zone in the market.
Specialising in golden visa facilitation, he provides targeted assistance to investors, entrepreneurs, and high-net-worth individuals aspiring for long-term residency in the UAE. His deep knowledge and experience in this domain render Parruck an invaluable asset for those navigating the complexities of securing a Golden Visa.
He is dedicated to promoting entrepreneurial achievement and excels in the constantly evolving business setup environment in the UAE. Leveraging a distinctive blend of strategic acumen as well as operational excellence, he spearheads Decisive Zone’s efforts to deliver comprehensive services for the formation and expansion of companies. In the area of corporate advisory, Parruck provides critical insights on corporate structuring, financial planning, and operational enhancement, aimed at amplifying the success of businesses within the UAE’s business environment.
Moreover, he plays an instrumental role in the establishment of corporate bank accounts, laying a solid foundation for seamless financial operations. Parruck also offers exhaustive bookkeeping and tax advisory services, ensuring that businesses maintain financial compliance and optimisation, which are vital for their sustained growth and profitability.
The ultimate business partner
Decisive Zone is designed to serve the needs of individuals, startups, and SMEs, offering customised business setup guidance, exceptional customer service, and the cultivation of trusted, long-term relationships with all clients.
Decisive Zone offers tailored business setup services to both corporate clients and individuals embarking on the establishment of their companies, branches, or subsidiaries within the UAE. Their team, composed of dedicated professionals, is committed to providing the most effective solutions for company formation in the UAE. They provide comprehensive advice on choosing the appropriate corporate structure and jurisdiction, in addition to addressing all technical, administrative, and financial aspects of setting up a business in the UAE.
As the journey of business setup extends beyond the initial establishment, Decisive Zone provide a range of additional services to ensure a business is operational post-establishment. Key expertise includes support in accounting, marketing, HR, and more. Decisive Zone handles every aspect of business setup, from company formation to visa processing and liaising with UAE government agencies, offering the flexibility to own a business without the burden of navigating through complex documentation and registration processes.
Decisive Zone Bankers plays a critical role in finance management, facilitating payment receipt and transaction processes. Individual banking clients benefit from streamlined finance management and access to services without the usual bureaucratic hurdles. Decisive Zone Bankers enables international banking for clients requiring global financial connectivity.
Name: Faizal Kottikollon
Designation: Founder and Chairman
Company: KEF Holdings
Industry: Industry
Hailing from a family of Kerala-based industrialists, Kottikollon completed his education in engineering followed by advanced studies in management. Kottikollon’s entrepreneurial spirit was ignited early in his career, leading to the establishment of Al Ahamadi General Trading in Ajman in 1995. Demonstrating foresight and business savvy, just two years later, in 1997, he founded Emirates Techno Casting FZE (ETC) in Sharjah. Under his leadership, ETC quickly ascended to become a leader in the global foundry manufacturing landscape, specialising in high-quality castings for the oil and gas industry among others.
The strategic sale of ETC to Tyco International in 2012 was a watershed moment in Kottikollon’s career. This significant transaction provided him with the resources and impetus to further diversify and expand his entrepreneurial endeavours. Following his initial successes, he founded KEF Infra One Industrial Park, a pioneering facility spanning 42 acres that introduced a comprehensive offsite manufacturing approach to the construction industry.
This facility has been instrumental in the development of significant projects such as Embassy 7B, Infosys, Indira Canteens, GEMS Modern Academy, KMCH Medical College & Hospital, Bosch, and Lulu Mall Lucknow, the largest mall in India, contributing to nearly 3 million sq m of total development. In 2018, the entity merged with the Softbank-supported Katerra, achieving billables of $3.7 billion. In recognition of his contributions to the sector, he was appointed to Prime Minister Shri Narendra Modi’s esteemed ‘Champions of Change for Infrastructure’ panel.
Giving back to the community
Kottikollon’s vision transcends mere business pursuits, as demonstrated by the establishment of the Faizal and Shabana Foundation alongside his wife, Shabana, in 2007. This philanthropic venture is dedicated to creating a meaningful impact in education, healthcare, and humanitarian aid, making a positive difference globally.
A prime example of their work is the transformation of the 120-year-old Government Vocational Higher Secondary School for Girls in Nadakkavu, Calicut, Kerala. This institution is now celebrated as the best government school in India, serving as a model for 966 other government schools adopting the Nadakkavu framework.
The latest endeavour by KEF, Tulah, represents a pioneering step in integrated healthcare systems, positioning itself as an innovative wellness retreat. Tulah aims to provide a holistic approach to lifestyle diseases backed by an approach that includes diagnostic testing, Ayurvedic treatments, and a focus on addressing root causes to promote overall well-being.
The forthcoming 30-acre facility is designed to offer a comprehensive healthcare programme that integrates fitness, clinical wellness, spa services, wellness education, and more, with medical expertise sourced from Meitra, KEF’s flagship hospital, enriched by Ayurvedic practices, Tibetan medical rituals, and a holistic living academy.
Name: Firoz Merchant
Designation: Founder and Chairman
Company: Pure Gold Group
Industry: Retail
Merchant, despite encountering numerous obstacles during his early life, successfully founded his first Pure Gold Jewellery store in 1989, transforming his vision into a tangible business. Over the years, this initial venture has grown into Pure Gold Jewellers, a distinguished entity in the integrated diamond and jewellery manufacturing and retail sector within the MENA region and Asia. Today, Pure Gold Jewellers stands as a multinational conglomerate, incorporating Pure Gold Jewellers, La Moda Sunglasses, Pure Gold Properties, along with significant real estate investments spread across numerous countries.
In 2002, Pure Gold Jewellers was recognised for its commitment to quality and excellence by achieving ISO certification. This milestone was followed becoming the first and only jeweller to be awarded the World Diamond Mark, underscoring its prominence and dedication to the highest standards in the jewellery industry.
As a leading jeweller in the Middle East and Asia, Pure Gold Jewellers has secured exclusive rights to retail gold and diamond jewellery across several prestigious duty-free outlets in the region, including but not limited to Dubai Duty Free, Abu Dhabi Duty Free, Kuwait Duty Free, and Jordan Duty Free. Looking forward, Pure Gold Jewellers is poised for further expansion, with strategic plans in place to extend its duty free retail presence globally.
In June 2023, Pure Gold Living, the group’s property division, announced new residential project launches following the early completion of its first project, the $27 million PG Upper House. The new projects, with a total investment of $81.6 million, include two residential developments in key Dubai locations.
Social initiatives
In addition to his business endeavours, Merchant actively participates in various social initiatives through the Pure Gold Group, lending support to reputable organisations such as the UAE Genetic Diseases Association, the UAE Ministry of Health, the UAE Red Crescent Society, Dar Al Ber Society, and Bait Al Khair Society, among others.
As the proprietor of Pure Gold in Dubai and a distinguished philanthropist, Merchant has made a significant contribution of $272,000 to assist in releasing over 900 prisoners from diverse correctional facilities across the UAE, ahead of the holy month of Ramadan 2024. his philanthropic effort is designed to settle the fines of these prisoners, thereby enabling their reunification with their families.
Through the establishment of ‘The Forgotten Society’ initiative in 2008, Merchant has demonstrated an ongoing commitment to the welfare of prisoners, among other philanthropic activities. To this end, he has allocated $6 million towards the welfare of prisoners, facilitating the release of more than 20,000 individuals since 2008. This has been achieved through strategic partnerships with law enforcement officials at central jails throughout the UAE.
Merchant’s contributions go beyond financial settlements; he also ensures the provision of air tickets for the released individuals, facilitating their return to their home countries. For the current year, Merchant has established an ambitious goal to further his philanthropic mission by assisting in the release of an additional 3,000 prisoners.
Name: Jigar Sagar
Designation: Founder and CEO
Company: Triliv
Industry: Diversified
From the young age of 10, Jigar Sagar was immersed in the business world, starting in his father’s retail shop. His early foray into business propelled him to become a significant figure in the UAE’s entrepreneurial scene. A pivotal moment in his life occurred at his Bachelor’s degree graduation ceremony, when Sheikh Mohammed bin Rashid Al Maktoum inspired him to play a role in the UAE’s prosperity, igniting his vision for the future.
Sagar has over 15 years of experience and has been involved in more than 15 ventures, which collectively are valued at over $350 million. Recognising his aptitude for numbers early on, he pursued a Master’s in Finance at the University of Melbourne.
Sagar is the founder of Triliv, a consultancy firm dedicated to fostering entrepreneurship. This venture stems from his deep-rooted desire to build a legacy that empowers and encourages entrepreneurial ventures for upcoming generations. As the managing partner of Creative Zone, he has played an instrumental role in establishing it as the largest and most trusted business setup advisory firm in Dubai, serving as a cornerstone for entrepreneurs and SMEs in the Middle East.
Under his leadership, Creative Zone has gained a stellar reputation for excellence and expanded its services, becoming an indispensable resource for businesses in the dynamic Middle Eastern market. Sagar has demonstrated a dedication to blazing new trails through projects like EZMS, a company offering a global cloud-based solution that digitises operations and is currently valued at $50 million. He also was involved in the creation of AppiZap, an AI-based no-code system projected to be worth over $100 million.
In 2015, he founded Set Hub, originally called Business Incorporation Zone, which has helped launch over 25,000 businesses since its inception. His entrepreneurial accomplishments also include Al Taasis, Créo, Al Taj Medical Center, MPlatform, and O Square Communications, highlighting his extensive impact across diverse industries. Sagar’s drive to pioneer innovative ventures shines through in his array of successful companies.
Sagar’s transition from finance manager to founder, partner and investor epitomises resilience, strategic foresight, and a deep-seated dedication to nurturing the entrepreneurial environment in the UAE.
About Triliv
Triliv was born out of Sagar’s mission to create a legacy to promote and enable entrepreneurship for future generations. To achieve this, Triliv serves as a holding vehicle for him to invest in and create multiple ventures that fit into the entrepreneurship ecosystem.
He strives to create an institution catered to entrepreneurs where they can receive education, mentorship, consultation, and support from various successful subject matter expert organisations, which will enable entrepreneurs to accelerate their business from 0 to 1 and then grow from 1 to 100. Triliv’s revenues will be reinvested to ensure the institution not only thrives financially, but also steadfastly upholds its mission beyond mere profit generation.
Name: K P Basheer
Designation: Chairman
Company: Western International Group
Industry: Retail
From modest beginnings in Bahrain in the year 1983, the group has evolved into a household name in the UAE. The multifaceted conglomerate comprises of diverse verticals with successful brands in electronics, retail, household goods, garments, travel accessories, fashion, footwear and more.
Today, the group employs over 35,000 personnel which are spread across 12 countries. Headquartered in Dubai, the group continues to strengthen its presence across the Middle East, Africa, South Asia, Europe and subcontinent with new brands and divisions constantly enriching the portfolio. Their group of companies includes Geepas Electronics and Appliances; Nesto Supermarkets and Hypermarkets; Royalford Homeware and Kitchenware; Olsenmark Electronics and Appliances; Geepas.com; Geepas Technologies; TrendyMe; Zeal; Gala Supermarkets, and many more.
About Nesto
Founded in 2004 by Basheer, Nesto began as a retail endeavour and has rapidly become a favoured choice among consumers. Today, with over 100 outlets spread across the GCC and India, Nesto stands as one of the fastest-growing retail chains. The retail chain has experienced significant growth from its humble origins and as an integral part of the Western International Group, Nesto has redefined industry standards through the implementation of an innovative business strategy.
The brand is unwavering in its commitment to delivering convenience, accessibility, and premium quality products at competitive prices to its clientele. This approach has not only facilitated Nesto’s expansion across various nations in the GCC but has also endeared the brand to hundreds of thousands of consumers within a relatively short period. Presently, Nesto distinguishes itself from competitors by offering a distinct shopping experience that customers value and seek to revisit repeatedly.
In its pursuit of operational excellence, Nesto has established one of the largest warehouses in the UAE, encompassing an impressive 40,000 sq m. This facility plays a crucial role in Nesto’s operational strategy, enabling the integration of multi-level functions and real-time decision-making to ensure optimal stock levels at all times.
The state-of-the-art warehouse, featuring 35 loading bays with thermally insulated pneumatic dock shelters to minimise heat gain, accommodates an extensive range of products including groceries, footwear, apparel, and equipment. It serves as the central distribution hub for Nesto’s retail channels, supported by one of the largest fleets of modern delivery vehicles in the region. This not only strengthens the brand’s supply chain efficiency but also contributes to job creation for thousands, underlining Nesto’s significance within the UAE’s economic landscape.
In October 2023, Nesto Group announced plans to invest approximately $26 million in Bahrain, marking the opening of four new stores within the next six months. The upcoming hypermarkets, situated in Muharraq, Busaiteen, Isa Town, and Askar in Bahrain, are nearing the completion of their construction phase. This expansion underscores Nesto Group’s confidence in the ongoing economic growth of Bahrain. Currently, the group employs 200 Bahraini nationals, reflecting the company’s commitment to integrating local talent into its success.
Name: Kiran Asher
Designation: Founder and Group Managing Director
Company: Al Ansari Global
Industry: Construction
Upon his arrival in Muscat in 1975, Asher dedicated himself to revitalising the business legacy established by his great-grandfather. With roots in India and inspired by familial ties to Oman, he founded Al Ansari Trading Enterprise as a commission agent, being its sole employee. Over the past five decades, the company has evolved into a premier, trusted provider of integrated solutions across diverse sectors including hospitality, luxury, infrastructure, utilities, energy, sustainability, and industrial domains, demonstrating Al Ansari’s extensive market presence.
The Al Ansari Group, founded in 1975, was a response to the burgeoning infrastructure demands within the Sultanate of Oman. Since the inception of the enterprise, Asher has been instrumental in guiding the company’s expansion across the GCC and Asia. His leadership has significantly contributed to the group’s diversification, managing a wide array of business operations encompassing manufacturing, trading, services, and real estate.
Al Ansari has broadened its geographical footprint, executing projects in countries such as the UAE, Qatar, KSA, India, and Sri Lanka, with a mission to inspire and enhance business performance through human values.
Throughout his career, Asher has held numerous leadership roles, notably on the board of Oman Cricket and the board of directors for Indian Schools. As a visionary leader based in Muscat, he is committed to delivering superior services and driving innovation within the Al Ansari Group.
The group, with its headquarters in Wadi Kabir, specialises in construction, government, defence, agriculture, healthcare, tourism, energy, telecommunications, utilities, and transport sectors. They have expertise in building products, integrated hospitality solutions, utility infrastructure, and energy & sustainability solutions.
About Al Ansari Trading
Al Ansari Trading Enterprise is renowned for its comprehensive building, infrastructure, and engineering solutions. With a workforce of 4,000 employees and operations in India and the UAE, the company is poised for further expansion. As an ‘Excellent Grade’ entity recognised by the Tender Board of Oman and certified by ISO 9001:2008, the group’s integration technologies division is at the forefront of system integration, offering solutions in data centres, computer systems, networking, standby power, e-mobility, telecom, and digital transformation.
Al Ansari excels in creating efficient, intelligent ecosystems through AIoT systems, security and surveillance, access management, and building management systems, enhancing operational efficiency and security. Moreover, Al Ansari’s e-mobility solutions extend to electric vehicles, scooters, and charging infrastructure, championing eco-friendly and cost-effective transport solutions in line with global sustainability objectives.
Addressing climate change necessitates tackling carbon dioxide emissions. The Decarbonisation & Sustainability Division of Al Ansari is dedicated to pioneering solutions for the capture, reduction, and elimination of CO2 emissions. Through the utilisation of sophisticated technologies and methods, the division captures and sequesters CO2 emissions and devises strategies aimed at minimising the overall emission.
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 an estimated Proforma EBITDA margin of 37% 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 estimated Proforma revenue of $570 million, with an estimated Proforma EBITDA totaling $210 million*.
Throughout 2023, FIVE Palm Jumeirah and FIVE Jumeirah Village consistently achieved an average occupancy rate of 92 percent, outperforming competitors by 27 percent. The Average Daily Rate (ADR) stood at $304, with performance metrics showing TrevPAR at $702, which is 2.3 times higher than its comparative set. From 2019 to 2023, total revenue experienced a substantial growth of approximately 363 percent, escalating from $123 million to $570 million*. Notably, 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.
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 nearly $2 million, supporting both local and international partnerships. This includes a significant donation exceeding $200,000 to a foundation focused on literacy and the empowerment of girls.
Sustainable indulgence
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, surpassing global heavyweights like Melia Hotels, Apple, among others. According to Cornell University’s benchmark, FIVE’s carbon footprint per night is five times lower than the average UAE luxury resort. A night at FIVE is equivalent to five nights at a similar UAE luxury hotel, according to a database of over 25,000 global hotels.
Successful acquisitions
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. The acquisition was funded through a Green Bond issuance and a Revolving Credit Facility (RCF). FIVE will utilise Pacha Group’s success for global expansion, transforming Pacha’s Destino Hotel into a FIVE brand and launching Lío at FIVE LUXE in 2025.
Offering an eco-friendly experience
FIVE Palm Jumeirah stands out for its carbon footprint, which is five times lower than that of its counterparts, according to a hotel carbon footprint benchmarking study by Cornell University’s Hotel Sustainability Benchmarking (CHSB) program. The hotel is powered entirely by solar power and features advanced water recapture systems, which are used to nourish its extensive greenery, enriching the luxury property with verdant surroundings. It has achieved the highest green building rating from the Dubai Land Department, becoming the world’s first hotel to earn a 3-star SPIRE Smart Building Rating, in addition to receiving LEED Platinum certification.
FIVE LUXE is set within an eco-conscious architectural design that has garnered the prestigious LEED Platinum rating, the highest of its kind globally for five-star hotels. This property is a beacon of innovation, featuring a comprehensive array of on-site and off-site renewable energy technologies alongside highly efficient energy systems. These initiatives reflect a deep commitment to environmental stewardship without compromising on the opulence and extravagance that define the FIVE brand.
From solar panels that harness the sun’s power to sophisticated water recycling systems that contribute to the lush landscapes, every detail is meticulously crafted to reduce the environmental footprint. This project represents the culmination of years of expertise and a bold vision for the future of luxury hospitality, offering guests an immersive experience that blends indulgence with eco-friendly practices.
Under Mulchandani’s leadership, FIVE has implemented a series of initiatives aimed at reducing environmental impact. These include the elimination of one million plastic bottles per hotel annually through the adoption of glass bottling, the replacement of single-use plastics with eco-amenities like toothbrushes and combs, the diversion of plastic straws from landfill through the use of biodegradable alternatives, and the replacement of plastic mini bottles with refillable dispensers.
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(*2023 Proforma Revenue and Proforma EBITDA figures include estimated unaudited revenue and EBITDA figures of FIVE and unaudited management accounts of Pacha as if Pacha was acquired on January 1, 2023.)
Name: Lal Bhatia
Designation: Chairman
Company: Hilshaw Group
Industry: Investment
Amulti-faceted authority with diverse experience across multiple sectors, Bhatia is an author, poet, investor, and advisor with over 35 years of experience marked by adaptability, innovation, and visionary leadership. His career encompasses the pioneering new ventures, leading change management initiatives, and overseeing strategic acquisitions, making significant contributions to both the business and arts sectors.
His strategic insight serves as a driving force behind transformative projects, ranging from introducing AI-driven agriculture in the UAE’s deserts to navigating through industry disruptions. Bhatia is recognised as a visionary, transforming potential into tangible progress, and seamlessly integrating sustainability with technology to pioneer eco-conscious living solutions.
The Hilshaw Group, under Bhatia’s guidance, operates as a Dubai-based multi-family office and investment advisory firm, managing a fund size of $500 million. The firm specialises in providing funding and investment resources for the real estate sector, utilising advanced technologies, market data, and analytics to innovate and redefine industry standards. The group offers a suite of services designed to optimise operations and boost performance through exclusive data insights and solutions, including portfolio monitoring, investor reporting, and investment insights, among others. Following a strategic transformation, the Hilshaw Group has expanded its presence with offices in Thailand, Italy, and Russia, with its investment and acquisition headquarters located in Dubai, UAE.
Bhatia also holds positions as the chairperson for David & Goliath Films since August 2018, and is the chairperson and director of UAE STRAT: 2071 since December 2022, a think tank focused on enhancing the UAE’s global position through research and advocacy on humanitarian and environmental issues.
In August 2023, Bhatia played an instrumental role in establishing a strategic partnership through a joint venture with Aeolus, a company renowned for its expertise in aviation services. This collaboration was strategically designed to venture into the domain of aircraft leasing, special flight operations, and a range of associated services, marking a significant expansion in this sector. The partnership commenced with an initial fleet consisting of 20 commercial aircraft, setting a strong foundation for its operational capabilities.
About David & Goliath Farms
Bhatia serves as the chairman of David & Goliath Farms, UAE, since July 2023. This innovative agricultural project is set to dominate a market projected to reach $6.30 billion by 2028, having already generated approximately $5.53 million in carbon credits. David & Goliath Farms exemplifies a novel approach to agriculture through vertical farming and advanced technology, emphasising the cultivation of exotic fruits and enhancing sustainability through the production of carbon credits.
The effective generation of carbon credits by David & Goliath Farms highlights a pioneering approach to utilising environmental initiatives for economic gain.
Name: Naresh Bhawnani
Designation: Founder and Chairman
Company: West Zone Group
Industry: Retail
Originating from a family of entrepreneurs in India, Bhawnani relocated to the UAE in the late eighties. This placed him at the heart of the UAE’s rapidly expanding retail and hospitality sectors, setting the stage for a journey of growth and innovation. On 2 December 2005, his entrepreneurial career was marked by the opening of his very first supermarket in Mirdiff. This heralded the birth of the West Zone Group, with Bhawnani at its helm, initiating a trajectory of expansion that would redefine the retail landscape in the region.
About the West Zone Group
Over the course of two decades, the West Zone Group has evolved from its humble beginnings with a single store to emerge as a formidable retail conglomerate, boasting in excess of 125 retail establishments. The group’s comprehensive portfolio now spans a wide array of sectors, including supermarkets, hypermarkets, building contracting, shopping malls, hotels and hospitality, food and beverage, real estate, and several others.
Distinguished as a holistic destination for both everyday essentials and niche specialty products, each West Zone store is strategically designed to address the nuanced needs of the communities it serves.
This approach is rooted in a deep-seated heritage of offering consumers high-quality products, exemplary customer service, and value.
Central to the group’s operational excellence is its state-of-the-art distribution centre, which plays a key role in ensuring a seamless supply of over 5,000 global brands to its retail outlets. Supermarkets and hypermarkets remain the cornerstone of the group’s business activities, underscoring its commitment to leading the retail sector. The group’s aggressive expansion strategy was significantly bolstered by strategic acquisitions, including a $10 million investment to acquire the Safestway supermarket chain, three branches of Giant, and G-Mart from the Giant Group, marking a new era of growth and diversification.
The hospitality division of the West Zone Group is another testament to its overarching goal of providing unparalleled convenience and the highest standard of service. Properties such as The West Zone Plaza and West Zone Pearl Hotel Apartments are designed to offer an inviting and comfortable experience for guests. Positioned strategically near Dubai’s major tourist hotspots, the West Zone Hotel Apartments not only offer easy access to the city’s attractions but also a suite of amenities that cater to the diverse needs of guests. This unique combination of location, comfort, and convenience positions the West Zone Hotel Apartments as a premier choice for travellers seeking an exceptional stay in Dubai.
Through strategic leadership, a commitment to innovation, and a dedication to customer satisfaction, the group is poised to scale greater heights, further establishing its prominence in the UAE’s commercial domain and beyond. This journey of transformation from a single retail outlet to a leading conglomerate is a reflection of Bhawnani’s visionary leadership and the West Zone Group’s relentless pursuit of excellence in all its endeavours.
Name: LT Pagarani
Designation: Chairman
Company: Choithrams Group
Industry: Retail
Established by Thakurdas Choithram Pagarani in West Africa in 1944, a pivotal element of his strategy was the creation of the Choithrams Remembrance Trust in 1959, initiating the group’s sustained commitment to philanthropy and its profound impact on millions of lives. The group has undergone significant transformation under the leadership of his son, Pagarani, especially within the GCC region. Boasting a presence of over seven decades in 25 countries, he has guided Choithrams’ expansion into Oman, Bahrain, and Qatar.
About Choithrams
The brand provides customers with a unique hybrid shopping experience, featuring over 50 outlets in key locations across the UAE, a strong online platform via Choithrams.com, and a mobile-optimised delivery network. This network ensures customer reach through various platforms, including Instashop, Talabat, Deliveroo, El Grocer, and Noon. The brand maximises customer accessibility through a mobile-first delivery network, partnering with platforms like Instashop, Talabat, Deliveroo, El Grocer, and Noon. Known for its wide range of local and international products, Choithrams is favoured by expatriates for its imported goods selection. Its ‘Green Goodness’ initiative promotes organic and eco-friendly products, reflecting its commitment to health and environmental sustainability.
With ambitious expansion plans, Choithrams has forged partnerships for enhanced delivery services and opened 10 new stores in the UAE in 2023, reinforcing its market leadership. Aiming for continued growth, Choithrams has unveiled ambitious plans for a significant expansion across the Gulf region and includes launching new stores in the UAE, Bahrain, and Qatar.
Recently, Choithrams commemorated its 50th golden jubilee anniversary in the region, a milestone celebrated with the introduction of a special edition 50-year logo. This logo will be featured across all Choithrams corporate literature throughout the anniversary year, symbolising the group’s legacy and ongoing contributions to the communities it serves.
Key partnerships
Choithrams has established itself as a significant player in the retail market across the UAE and GCC, holding exclusive rights to sell Tesco and SuperValu products in the UAE. It operates more than 70 supermarkets and has a strong distribution network that reaches over 18,000 outlets. The brand is well-known for its partnerships with global brands and its commitment to quality, showcased through its in-house brands, Goodness Foods, and Leone. This extensive retail and distribution presence, combined with a focus on quality, solidifies Choithrams’ position in the market.
Sustainability goals
Choithrams has taken significant steps in sustainability and technology, reducing plastic and food waste, and adopting sustainable sourcing and process automation for fresh imports. The company is transitioning to one hundred percent renewable energy, in line with its longstanding Planet 7 Sustainability framework, which integrates technology to achieve ESG goals, including waste reduction and clean energy use. This effort supports social inclusion and gender parity, contributing to one of the retail sector’s success stories.
Aligned with net carbon zero goals, the company collaborates with Dubai Municipality to reduce and recycle food waste, aligning with the Dubai Clean Energy Strategy 2050 to promote a green economy. A solar plant installed by SirajPower in Al Quoz, Dubai powers its operations with renewable energy, demonstrating a commitment to operational excellence and environmental stewardship. Choithrams aligns with the UN Sustainable Development Goals, tackling food waste and supporting the UN World Food Programme and the UAE Food Bank, donating over 6 million meals and promoting the Zero Hunger campaign.
Choithrams has reduced its carbon footprint by transitioning its main distribution centre to renewable energy and upgrading lighting and refrigeration systems. The partnership with Emirates Nature WWF’s ‘Rethink Plastic’ campaign reduced plastic bag use by over three million in its first year, and through its membership with the Global Reporting Initiative, Choithrams leads in retail sustainability in the UAE, supporting the UN SDGs.
Moreover, partnerships with Mohammed bin Rashid Global Initiatives, including Dubai Cares, UAE Food Bank, and Al Jalila Foundation, reflect Choithrams’ commitment to creating a positive, long-term impact. Its 14-year association with Dubai Cares includes building schools in Nepal and Senegal and supporting local awareness campaigns.
Recent expansion
In September 2023, Choithrams celebrated the opening of its ground-breaking store in Dubai’s bustling Marina Wharf 2 area. This store stands out as the UAE’s first operationally women-run supermarket, a significant achievement for the brand. Managed entirely by a female staff covering all positions from stockers and cashiers to the store manager, this initiative underscores Choithrams’ commitment to promoting gender diversity and empowering women in the workforce.
This aligns with the UAE’s goals for gender diversity, offering women equal opportunities for employment, training, appraisal, and promotion, thereby positioning Choithrams as a pioneer in fostering an inclusive work environment.
Operating 24 hours, seven days a week, the store also provides a complimentary home delivery service, catering to the diverse needs of its customers. It distinguishes itself by offering a selection of niche products for women that are hard to find elsewhere, reflecting Choithrams’ ongoing dedication to diversity, equality, and inclusion. By empowering women and advocating for gender diversity, Choithrams continues to lead by example in the UAE’s corporate landscape.
Name: Nitish Jain
Designation: Founder and President
Company: S P Jain Global Group
Industry: Education
A distinguished figure in the Asia Pacific region, Jain is celebrated for his contributions to evolving business education and enhancing global job prospects for business students. Merging his expertise as an educationist, philanthropist, entrepreneur, and advocate for technology, Jain’s active participation in key professional organisations, such as the FICCI and the Young President’s Association, underscores his commitment to industry excellence.
Beyond his professional endeavours, Jain is deeply involved in social welfare, serving as a trustee for several organisations including the Sukhanand Ashram (Dharamshala) Trust and the SP Jain Welfare Foundation, among others. These trusts, many initiated by his family, aim to support education and medical aid for underprivileged families.
SP Jain Global, an Australian institution, was inspired by the principle that global business practices necessitate a global approach to business education. This philosophy has led to the development of an international educational model that offers students immersive experiences across the East, West, Middle East, and India, promoting a comprehensive understanding of global business dynamics.
Under Jain’s guidance, the institution has achieved numerous milestones and is committed to a student-centric approach to education. Catering to a diverse student body from India and across Asia with aspirations for international study, the institution has expanded its reach to include campuses in Sydney, Singapore, Mumbai, Dubai, and, most recently, London.
About S P Jain School of Global Management
Guided by Jain’s vision, SP Jain Global is committed to preparing its students for the technology-centric business landscape. Boasting several firsts, SP Jain Global introduced Engaged Learning Online (ELO), a pioneering online learning platform that replicates the interaction of a physical classroom online. ELO offers interactive features and employs AI, big data, and robotics to enhance the online learning experience, making it effective irrespective of students’ physical locations. Also, the curriculum across its programmes, including its MBA programme, integrates cutting-edge technologies to equip students with the tools to drive innovation in their careers.
The globally recognised S P Jain School of Global Management has expanded its footprint by recently launching its latest campus in London, the S P Jain London School of Management (SPJ London). SPJ London received formal accreditation from the Office for Students (OfS) in the UK to issue degrees in 2023. This accreditation establishes SPJ London, a constituent of the SP Jain group, as the first institution of Indian origin to be recognised by the UK’s regulatory authority for higher education.
In addition, a collaborative arrangement has been formalised between SPJ London and the SP Jain School of Global Management (SP Jain Global), enabling students to participate in academic sessions across the network’s campuses in Dubai, Singapore, Sydney, and Mumbai. SP Jain Global students were provided the option to enrol for specific terms or opt for transfers to SPJ London, thereby augmenting their international academic exposure.
Name: Shaji Ul Mulk
Designation: Founder and Chairman
Company: Mulk International
Industry: Industry
Established in 1982 and led by Ul Mulk, Mulk International Group is a global conglomerate boasting a diverse portfolio that spans construction, renewable energy, plastics, and healthcare sectors. With a net worth of $2.7 billion, the group manages 18 companies worldwide, maintaining operations across the US, Europe, India, the UAE, Oman, and Ghana.
Under Ul Mulk’s experienced leadership, the company has forged strategic global joint ventures, resulting in notable partnerships with entities such as ALUPCO in KSA, Vallibel One Group in Sri Lanka, DACS Systems in India, and Al Hamed Group in Abu Dhabi. These collaborations have led to significant achievements, particularly in the healthcare sector and interior fitouts, under the guidance of Sheikh Khalid Al Hamed and Sheikh Majid Al Nuaimi.
Furthermore, Ul Mulk guides the Mulk Foundation, which is dedicated to community support through various initiatives. These include providing free medical clinics, establishing libraries, offering aid to disabled children, and facilitating an orphan marriage programme.
About Mulk International Group
The group’s flagship brand ALUBOND has grown into the world’s largest metal composite brand with operations in 11 countries and market reach of 90 countries. Also, their A2 fire-rated aluminium composite panel, ALUBOND A2, positions it as the world’s largest manufacturer of such panels and has transformed the group to become the world’s largest manufacturer of aluminium composite panels, boasting an installed capacity of 25 million sq m with installations spanning over 100 countries.
The group’s $500 million investment in Zim Cyber City signifies its expansion into real estate in the USA and the UK, featuring projects like the ongoing Zim Cyber City in Zimbabwe, a mixed-use development in Mount Hampden, New Harare. This 46,000 sq m landmark project is managed through the locally registered subsidiary, Zimbabwe Global Investments (ZGI), operating under the Special Economic Zone (SEZ) programme approved by Emmerson Mnangagwa, President of Zimbabwe.
Mulk Med Healthcare was launched in 2010 and provides physiotherapy, telemedicine, and diagnostic services, including the Mulk Med Healthcare Virtual Hospital. The group is also gaining recognition for introducing the T10 cricket league, a global brand with leagues in the UAE, Africa, US, Sri Lanka, Europe, and India, boasting a viewership of over one billion since its launch in 2017.
In October 2023, Mulk International entered a joint venture with Ajman Holding, led by Sheikh Abdul Aziz Al Nuaimi. This partnership strategically positions both companies to utilise their collective expertise, networks, and resources effectively.
An essential element of this collaboration is the T10 Cricket League, a globally recognised cricket event. This alliance aims to elevate the league to new levels of international recognition, increasing the sport’s visibility and offering unmatched cricket experiences to audiences worldwide.
Furthermore, supported by Ajman Holding, ALUBOND is expected to achieve significant expansion, exploring new markets, and solidifying its status as a construction material industry leader.
Name: Nayeem Moosa
Designation: Managing Director
Company: Gentur Security
Industry: Security Services
Established in 2004 with a vision to become the region’s leader in providing efficient and world-class event security solutions, Gentur has gained popularity in the region due to its commitment towards delivering fool-proof security. Under Moosa’s guidance, Gentur has expanded its operations globally across the UAE, Qatar, Kuwait, India, Oman, Malaysia, Bahrain, KSA, and Singapore.
With over 20 years in business and around 1,500 total guards, the company has become a regional premier security provider that has secured major events across the UAE, including Robbie Williams Live in Concert 2020, the Dubai Run, Asia Cup 2022, and more. Moosa’s team has also provided close protection services to high-profile Hollywood celebrities including Will Smith, Tom Cruise, Jennifer Lopez, and Kim Kardashian, as well as to several top Bollywood celebrities, such as Shah Rukh Khan, Salman Khan, Kareena Kapoor Khan, and more.
Backed by Moosa’s leadership, today, Gentur Security Services ranks as a leading security company in the UAE with partnerships across major malls and arenas, including Dubai Mall, Mall of Emirates, Dubai Sports City, and Coca-Cola Arena. Gentur Security operates in all market segments, and they invest heavily in staff training to deliver the highest level of service to their customers. The company continues to make significant investments in technology to ensure that both of their internal and external processes deliver outstanding customer service and security enhanced by real-time monitoring and response.
About Gentur Security Services
Gentur has established associations with several leading corporate entities, including Emaar Properties, Emaar Mall Group, The Dubai Mall, Burj Khalifa, DMCC, and Dubai Festival City. The company prides itself on securing 90 percent of movie promos within the region and offering close protection services to high-profile celebrities during their visits to Dubai. Gentur has specialised in providing top-tier security services for Dubai’s premier venues, catering to both intimate VIP events and large-scale gatherings.
As a UAE-based VIP security service with a global perspective, the company delivers expert personal security, VIP close protection, and tailored solutions for corporate executives, affluent individuals, government dignitaries, celebrities, and their families. Their extensive experience in VIP protection across the UAE, Qatar, Bahrain, Kuwait, Malaysia, and India has equipped it with the expertise to ensure the safety of VIPs from diverse backgrounds in any scenario.
Gentur is also the foremost provider of crowd control, event safety services, and CCTV surveillance in the UAE as well as in Qatar, Kuwait, India, Oman, Malaysia, Bahrain, KSA, and Singapore, offering end-to-end services from planning to execution. The company’s proficiency extends to traffic management, with its security personnel certified by SIRA and trained as traffic marshals, making it the leading traffic control expert in Dubai. Additionally, the company addresses the need for specialised security bouncers in high-risk venues such as nightclubs and exclusive events. The company’s bodyguards are in high demand in Dubai to ensure the protection of VIPs and celebrities.
Name: Paras Shahdadpuri
Designation: Chairman
Company: Nikai Group
Industry: Retail
Transitioning from a career in the Indian Foreign Services, Shahdadpuri took a decision in 1987 to venture into the business realm in the UK. His journey took an unexpected detour during a layover in Dubai en route to London, where he was captivated by the city’s allure and opted to set up his business base there.
Shahdadpuri was elected chairman of The Electronics Group (TEG) under Dubai Chambers in late 2022, representing the electronics sector, and led the Business Leaders Forum (BLF), which focuses on fostering large-scale investments and business establishments between India and the UAE. His active participation in community development initiatives in both India and the UAE, including support for Dubai Cares and membership in the Dubai Rotary Club, underscores his commitment to societal betterment.
His involvement with the Dubai Autism Group and Rashid Centre for the Disabled has been recognised, earning him a board position at the Rashid Paediatrics Centre for Children of Determination. Additionally, under the patronage of Sheikh Nahayan bin Mubarak Al Nahayan, he founded awards celebrating teaching excellence and student achievement at the Higher Colleges of Technology in the UAE.
About Nikai
The Nikai Group of Companies spans across electronics, appliances, food products, staffing outsourcing, and third-party logistics (3PL). The conglomerate has a global footprint in regions including the UAE, Oman, China, KSA, Egypt, Georgia, Russia, among others.
Under Shahdadpuri’s guidance, the Nikai brand achieved Superbrand status multiple times in 2011, 2016, 2017, 2018, 2020, and 2021, establishing its mark in the competitive electronics market with a portfolio exceeding 400 products.
These offerings have positioned Nikai as a strong contender against leading Japanese and Korean brands, extending its reach to 60 countries and amassing a customer base of over 65 million. The conducive business climate in the UAE, along with India’s extensive talent reservoir, has provided a solid base for Nikai Group to thrive and secure its position as a major market contender.
Beyond the corporate sphere, Shahdadpuri’s commitment to fostering India-UAE business ties has made significant societal impacts. His acumen was acknowledged through his election as the president of the Indian Business and Professional Council (IBPC), recognised by Dubai authorities as the premier organisation for this purpose. His effective leadership prompted calls for his re-election, serving from 2013 to 2015, during which he played a key role in promoting India-UAE business collaborations and cultural exchanges, significantly enhancing their economic and trade relations.
Expanding into key markets like the UAE, Oman, KSA, and Qatar, Nikai’s electronics division has refreshed its e-commerce approach to meet growing consumer interest. Recently, Nikai entered Egypt, aiming to transform the consumer sector with its extensive home appliance and electronics range. Spotnik Technologies, part of the Nikai Group, has made significant strides in AI, smart centres, and VR solutions, introducing the UAE’s first urban digital twin platform, Smart City Studio.
Name: PNC Menon
Designation: Founder and Chairman
Company: Sobha Group
Industry: Construction
Motivated by a dedication to superior performance, an unwavering commitment to quality, and a compassionate understanding of social responsibility, Menon embarked on his entrepreneurial venture with modest origins in India. This journey led to the establishment of an interior decoration enterprise in Oman in 1976.
Undertaking prestigious projects, including the design and decoration of royal palaces and elaborate mosques in Muscat, his business, Service and Trade Company, rapidly expanded its operations to Bahrain, Qatar, and the UAE. In recognition of his contributions and the impact of his work, Menon and his family were honoured with Omani citizenship by the Sultan of Oman. Having resided in the Gulf for the past 48 years, Menon has made Dubai his home since 2003, further solidifying his presence and influence within the Middle Eastern business landscape.
Venturing into real estate
Guided by a commitment to transparency and dedication, Menon established himself as a leader in the market, known for his consistent quality in construction and interior design. Following his achievements in the Middle East, Menon ventured into the emerging Indian real estate sector, recognising the need for quality construction services. In 1995, he founded Sobha Developers, selecting Bangalore as its headquarters. Sobha Ltd, now a publicly traded company with a market capitalisation of $1.5 billion, with operations across 24 cities and in 13 states in India.
Over the past five years, Sobha has consistently achieved recognition for its outstanding development work, distinguishing itself within a competitive field of more than 12,000 developers across India. This acclaim is a testament to the group’s commitment to delivering projects that meet the highest standards of quality in both construction and design aesthetics. The foundation of Sobha’s success lies in its holistic approach to development, which encompasses meticulous planning, innovative design, and exceptional execution. Each project undertaken by Sobha reflects the company’s dedication to excellence, from the initial concept phase through to the final completion.
Furthermore, Sobha’s achievements in the real estate sector are underpinned by its adoption of cutting-edge technologies and sustainable practices, aligning with global standards and contributing to the creation of environmentally friendly and energy-efficient buildings. As Sobha continues to expand its footprint, the group remains dedicated to pushing the boundaries of innovation in the real estate industry, setting new benchmarks for quality and sustainability.
As the India business continued to grow, Menon began exploring international opportunities to fuel further growth and, as a result, he founded PNC Investments in 2011 to bring the Sobha brand to the UAE. After entering the Dubai market, Menon launched Sobha Hartland and District One. Sobha Hartland is a $4 billion luxury mixed-use development spread over 8 million square feet. District One, an $8 billion joint venture with Meydan Group, includes 1,500 ultra-luxury villas.
Currently, under Menon’s strategic leadership, the Sobha Group has expanded its footprint across Dubai with seven master plans, demonstrating a commitment to broadening its presence within the emirate through multiple projects. Among these, the flagship community of Sobha Realty is Sobha Hartland, a community providing homes to over 11,000 residents and encapsulating the essence of luxury and sustainability. In addition to Sobha Hartland, the group has initiated several other master plans including Sobha Hartland II, The S Tower, Sobha SeaHaven, Sobha Reserve, Sobha One, among others.
Philanthropic initiatives
Menon also possesses a deep commitment to philanthropy. Believing firmly in the importance of contributing to society, he has pledged 50 percent of his wealth to charity and is a participant in the Giving Pledge initiative by the Bill & Melinda Gates Foundation alongside Warren Buffet. His philanthropic endeavours are diverse, focusing on education, health, employment, water, sanitation, and housing, among others. Menon views these efforts not as charity but as a duty to give back to society. His philanthropic activities span across multiple sectors, demonstrating his dedication to making a meaningful impact on society through diverse contributions and projects aimed at improving lives and fostering sustainable development.
In the UAE, Menon’s contributions have significantly supported social empowerment, education, and healthcare initiatives. He is actively involved with the Rashid Centre for People of Determination and the Al Jalila Foundation, contributing to medical innovation and treatment of severe illnesses. His donations include $13.6 million to the One Billion Meals Endowment fund and $1.3 million to the BAPS Hindu Mandir in Abu Dhabi, reflecting his commitment to cultural diversity and social development.
In Oman, Menon has pledged $24.9 million over the next decade to build 300 homes for orphaned and disadvantaged families. In India, through the Sri Kurumba Educational and Charitable Trust, he supports various CSR programmes. His initiatives include adopting economically backward areas, constructing 1,000 homes for underprivileged families, and launching educational and vocational training programmes to empower the disadvantaged and promote environmental sustainability. Menon is dedicated to embedding sustainable practices throughout his companies’ operations, ensuring environmental protection and the welfare of the community through a commitment to responsible, ethical, and strong governance.
Sobha’s backward integration model
Sobha inculcates a comprehensive backward integration model, a unique approach that has been featured as a case study on Backward Integration by Harvard Business School, showcasing its innovative practices in real estate development. The organisation boasts a complete array of competencies and internal resources capable of overseeing a project’s lifecycle from its initial conceptualisation through to its ultimate completion.
Name: Prashant Goenka
Designation: Director
Company: Emami
Industry: FMCG
Based in the UAE, Prashant steers Emami, a foremost entity in the FMCG industry renowned for its swift growth across international markets. Under his leadership, Emami is undergoing a transformation, evolving from a distinguished Indian brand into a dynamic global player. This transition is guided by the company’s mission to enrich lives by promoting health and beauty through natural means, with a special emphasis on Ayurveda and herbal products within its diverse portfolio.
Prashant, whose passion lies in innovating within new-age business sectors and setting higher diversification standards, is dedicated to broadening Emami’s esteemed brand presence globally. His strategic direction is underscored by a commitment to innovation, adaptability, and the continuous pursuit of excellence. Currently, Emami’s extensive product range, which includes notable Indian brands has established a presence in over 70 countries. These regions span the MENA region, Southeast Asia, the SAARC countries, Africa, Eastern Europe, Russia, and the CIS countries.
Over his 25-year tenure, he has been instrumental in propelling Emami’s journey of international expansion. This is evidenced by the establishment of Emami offices in the GCC countries, SAARC, and Russia and the establishment of manufacturing units globally, thereby reinforcing Emami’s commitment to quality and innovation. As a result, Emami has experienced significant revenue growth in recent years, with a notable 20 percent increase in FY23, particularly highlighted by its achievements in the MENA region. This growth exemplifies Emami’s unwavering focus on customer-centricity, understanding of local preferences, and the ability to forge strong connections that enhance consumer engagement and contribute to the company’s financial success.
Strategic acquisitions and forays into new markets have been key to Emami’s expansion strategy. To Prashant, the three factors that have contributed to his company’s growth and expansion into new markets are innovative product development, strategic partnership with local distributors, and a strong focus on consumer preferences. As a visionary, he modeled his company to prioritise continuous research and development to stay ahead of time and to sustain its edge in current markets. He believes that it is important to maintain a customer-centric approach to ensure that they meet the evolving needs and preferences of their consumers.
Key achievements
Beyond his business endeavors, Prashant’s upbringing in a value-oriented joint family has instilled in him a strong foundation of moral values and integrity. He emphasises the importance of compassion and shared humanity, guiding his commitment to social responsibilities. His commitment to fostering inclusion, diversity, and the adaptation to international cultures in Emami’s operations is noteworthy.
He is actively involved in launching and investing in contemporary, natural, and herbal brands that align with the philosophy of benefiting both the individual and the community at large. Prashant’s engagement extends to prominent chambers and professional organisations, including active memberships in the Indo-German Chamber of Commerce and the Confederation of Indian Industry (CII), and a key role as a member and former chapter chair of the Young Presidents’ Organisation (YPO) in Kolkata, India.
Name: Prateek Suri
Designation: Founder and Chairman
Company: Maser Group
Industry: Diversified
One of the youngest and most prominent influence in world of technology in Africa and Gulf, Prateek Suri stands at the helm of Maser, a pioneering consumer electronics powerhouse reshaping the African market landscape from its Sub-Saharan Africa to Middle East. As CEO, Suri has orchestrated a remarkable ascent, transforming Maser into a profitable hardware unicorn and etching his name among Africa’s most influential business leaders.
Recently included in the esteemed Arabian Business Power list, Suri’s strategic acumen and bold vision have propelled Maser to unprecedented heights. Under his stewardship, the company has not only captured market share but has also revolutionised the industry, catering to the burgeoning demand for affordable yet cutting-edge smart TVs and related devices among African consumers. Maser is now the highest seller of smart TVs in Africa.
Suri says: “Dubai stands as a beacon of innovation, seamlessly blending tradition with cutting-edge technology. Its global influence in technology and business is unparalleled, symbolising a convergence of cultures and ideas that propel progress on a truly international scale.”
Suri’s entrepreneurial foresight has extended beyond the realm of consumer electronics, as evidenced by the establishment of MDR Investment, an investment arm of Maser Group. With a keen eye for opportunity, Suri’s investment vehicle targets defunct yet asset-rich ventures, revitalising them with strategic injections of capital. Ventures spanning African mining of natural resources, shipping, and global acquisitions have fallen under Suri’s purview, positioning him as a formidable force in the international business arena.
His adept utilisation of the UAE’s advanced infrastructure has been pivotal in Maser’s meteoric rise, providing a springboard for global expansion and strategic alliances across diverse markets. The company’s valuation, now exceeding $2 billion, is a testament to Suri’s visionary leadership and relentless pursuit of excellence.
Not content with personal success, Suri’s African Financial Federation serves as a catalyst for the aspirations of budding entrepreneurs across the continent, empowering them to realise their dreams and contribute to Africa’s burgeoning economic landscape.
As sub-Sahara’s youngest billionaire, Suri epitomises the spirit of innovation and resilience, driving Maser and its affiliated ventures towards unprecedented growth and impact on a global scale. With a penchant for transformative ventures and a commitment to fostering economic empowerment, Suri continues to chart new territories, leaving an indelible mark on the world of business and beyond.
Beyond work and inspired by global leaders, Suri believes philanthropy is something he is super keen on. In the world of corporate dominance, Suri embodies a commitment beyond business pursuits. His focus extends profoundly towards charitable cause and CSR activities in Africa.
Name: Raj Rana
Designation: CEO
Company: Citymax Hotels
Industry: Hospitality
With over three decades of experience in international business management and leadership across the UAE, KSA, Qatar, Kuwait, Egypt, South Asia, the USA, Canada, the Caribbean, Latin America, and Russia, Rana has held regional-level profit and loss (P&L) responsibilities. He has a proven track record in business scaling, developing, and implementing growth strategies, conducting mergers and acquisitions, initiating brand launches, and steering business turnarounds.
His expertise also includes forming high-performing teams and fostering solid relationships with family-owned enterprises, multinational corporations, joint venture partners, management firms, master franchisors, mall operators, and key industry stakeholders. Prior to his role at Citymax Hotels and Foodmark, he was appointed as the CEO of Radisson Hotel Group for South Asia.
Rana joined Citymax Hotels by Landmark Group as its CEO in November 2019, later appointed to the role of CEO of Citymax Hotels & Foodmark (part of Landmark Group) in May 2020. Under his leadership, Foodmark has successfully expanded to include international F&B brands across over 30 locations in the Middle East, including Nandos and Carluccios. As he leads Citymax Hotels and Foodmark, Rana’s strategy aims at promoting growth and providing value to customers, stakeholders, and employees.
Citymax Hotels, aligning with the industry’s trend towards the mid-market segment, caters to a broad spectrum of travellers by offering exceptional value at competitive prices. The introduction of Citymax Business Bay into the four-star hotel category underscores the brand’s ambition to establish this property as its flagship and to enhance the versatility of its portfolio.
The brand has been recognised for its excellence, earning the title of the World’s Leading Budget Hotel Brand consecutively from 2014 to 2019 at the World Travel Awards, among other accolades. Currently, the Citymax brand portfolio includes Citymax Hotel Bur Dubai; Citymax Hotel Business Bay; Citymax Hotel Al Barsha; Citymax Hotel Al Barsha At The Mall; Citymax Hotel Sharjah; Citymax Hotel Ras Al Khaimah; and in Egypt, Citymax Hotel Aswan and Citymax Hotel Aqua Park.
In May 2023, Citymax Hotels earned the 2023 Travellers’ Choice Award from Tripadvisor, a highly respected platform within the travel community. Notably, this recognition was bestowed upon four of Citymax Hotels’ in Al Barsha, Business Bay, and Sharjah, underscoring the brand’s commitment to excellence and strategic location advantages that cater to the convenience of guests.
Sustainability initiatives
In its commitment to sustainability, Citymax Hotels has undertaken significant initiatives with the support of Dubai Sustainable Tourism. Efforts include the donation of old clothing and recycling over 31,000 kilograms of materials such as cardboard, paper, plastic, tins, and glass. The Citymax team has implemented measures to promote environmental responsibility among guests, ranging from water conservation signs in multiple languages to the adoption of QR menus and digital business cards to reduce paper usage.
Name: Ramesh Ramakrishnan
Designation: Chairman
Company: Transworld Group
Industry: Logistics
Since its inception in Mumbai in 1977, Transworld Group has evolved from a simple shipping agency into a dynamic shipping and logistics powerhouse. Under the leadership of Ramakrishnan, who took the reins in 1989 after the demise of his father, the company launched Shreyas Shipping in 1993, marking the beginning of its expansion into international waters, including the US, and its transition into a public limited company.
Today, Transworld Group is involved in a broad spectrum of activities such as ship owning & management, supply chain management, warehousing, road transportation, air freight, freight forwarding, feeder services, liner, and shipping agencies, covering a diverse range of cargo types.
Over the past four decades, Transworld Group has witnessed substantial growth in its fleet size, both in terms of quantity and capacity. The company’s fleet now comprises 14 container vessels, 1 multi-purpose vessel, 9 bulk carriers, and 3 newly added tanker vessels, with plans for further expansion. The strategic acquisition of new tonnage has also rejuvenated the fleet, reducing its average age to under 15 years.
The group’s strategic headquarters is located in the Jebel Ali Free Zone, Dubai, reinforcing its global presence with additional offices across the US, Far East, Middle East, and the Indian subcontinent. Transworld Group offers a plethora of end-to-end solutions including integrated digital solutions, e-commerce, ship management, and aviation, among others.
Reducing greenhouse emissions
Transworld Group has set a goal to achieve carbon neutrality by 2043, focusing on reducing greenhouse gas emissions across all its operations. Transworld Group’s commitment to sustainability and corporate responsibility is highlighted in its latest sustainability report for the fiscal year 2022-2023, titled ‘Leading by Values, Built on Trust.’ This report, adhering to GRI and SASB standards, aligns the group’s initiatives with the UN’s Sustainable Development Goals (SDGs), showcasing significant achievements such as a reduction in Scope 1 emission intensity and energy consumption.
The report underscores the group’s efforts in implementing ESG Key Performance Indicators, conducting sustainability surveys for suppliers, and its vision to empower over 250,000 individuals through various programmes focusing on marine environment stewardship, health, food and water security, arts, education, civic engagement, gender diversity, and equity. Through these initiatives, Transworld Group is paving the way for a sustainable future, leveraging its industry expertise to make a positive impact on the planet and its people.
A significant development in 2023 was the formalisation of an agreement with DP World’s Jebel Ali Free Zone (JAFZA) to build a new, state-of-the-art distribution centre. Spanning over 50k m2 and designed to accommodate both dry and temperature-controlled storage, this facility marks a major expansion for Transworld Group, effectively doubling its capacity in the region and enhancing the logistics infrastructure within the Free Zone. The construction is expected to begin in early 2024 and conclude by 2025, following the inauguration of Transworld Group’s Cold Chain Distribution Centre in JAFZA.
Name: Ravi Pillai
Designation: Founder and Chairman
Company: RP Group
Industry: Construction
Hailing from a family of farmers in Kerala, Dr. Pillai established RP Group in the 1970s after his small construction firm shut shop, prompting him to migrate to KSA. Between 1985 and 1990, the group expanded to 5,000 employees; procured business from a petrochemical major in KSA; and secured major contracts in Al Jubail. By the nineties, Pillai had expanded the business to other GCC countries and began construction for oil and gas as well as petrochemical and steel companies, emerging as a leading regional general contractor.
And today, the group covers sectors including construction, infrastructure, retail, hospitality, and healthcare. The group are a preferred partner for some of the largest companies in the world that are actively involved in developing the hydrocarbons industry across the Middle East.
RP Group aims to strengthen its role as a leading diversified conglomerate, with ventures in construction, real estate, hospitality, healthcare, education, IT, and retail. Guided by principles of strategic significance, operational excellence, reliability, and community commitment, RP Group leverages its broad and service-focused business portfolio to position itself as a top global diversified entity.
With a firmly established foothold of over four decades in the Middle East region, across nine countries, extending in 20 cities, the group is well established across the hospitality sectors in both the UAE and India. Boasting over seven hotels in Kerala and the GCC region, Pillai has purchased two more properties in Pune, and are setting up a 200-villa luxury resort in the Maldives. The group’s successful subsidiary Taj RP International has completed the Crowne Plaza Dubai Marina, with RP Global also developing two projects in Business Bay and on Sheikh Zayed Road, worth $1.5 billion.
The RP Group has underlined its exceptional competency in hospitality services in the UAE and India. The Raviz Group is an ancillary of the RP Group of Companies, with a portfolio of resorts and hotels in the UAE and India.
Foray into information technologies
In 2010, RP Group expanded into the information technology sector, recognising the essential role of cutting-edge technology in the growth and development of both individuals and businesses. The group now boasts two IT companies, including Cutwatr, which is dedicated to creating innovative solutions that address complex business challenges for its clients. Many of the world’s rapidly expanding organisations depend on the expertise of their team to navigate difficulties and enhance their growth and profitability.
RPTECH, registered with the Software Technology Parks of India (STPI), is based in Technopark, Trivandrum, Kerala. Since its inception in 2010, RPTECH has specialised in Enterprise Resource Planning, Infrastructure Management Services, and Web solutions and Mobility.
Operating in India as RP Techsoft International under the RPTECH brand, the company serves both government and private sector clients. It has forged strategic technological and project alliances with leading industry players like CISCO, HP, SAP, among others, to deliver top-notch services.
Name: Rishi Kapoor
Designation: Co-CEO
Company: Investcorp
Industry: Investment
In his current position since 1992, prior to his current role, Kapoor helmed several key leadership positions within Investcorp between 2003 and 2015, including that of chief financial officer. In addition to the credit management, absolute returns, real estate, and strategic capital businesses globally, he oversees the firm’s private equity businesses in both North America as well as in India.
Kapoor is also a member of the board of directors for Gulf Air Group, Bahrain Airport Company, and Gulf Aviation Academy, in addition to the National Bank of Bahrain. He is also a member of Duke University’s Middle East regional advisory board as well as a member of the Oxford Energy Policy Club. And as a member of the board of directors for National Bank of Bahrain, Kapoor also chairs its risk & compliance committee.
About Investcorp
A leading global manager of alternative investments with six lines of businesses, including real estate, strategic capital, private equity, absolute return investments, infrastructure, and credit management, Investcorp is a leading alternative investment firm. An active investor in mid-market companies across consumption-linked sectors and in the real estate business across India, Investcorp focuses on opportunities across the retail, healthcare, SaaS, e-commerce, consumer tech, financial services, and technology sectors.
In the past four years, just a few of Investcorp’s recent investments have included NDR Warehousing, Intergrow Brands, Bewakoof.com, Zolo, Citykart, Unilog, XpressBees, and Safari Industries, amongst more. Investcorp have invested in InsuranceDekho, a leading Insurtech in India, as part of a consortium financing $150 million of growth capital towards the development of its technology platform as well as to support the expansion of the company’s network.
Investcorp is investing in the sponsor of the John F. Kennedy International Airport (JFK) new Terminal 6 Project, the ‘Project’. The investment in Corsair’s infrastructure business, now called Investcorp Corsair Infrastructure Partners, represents a newly formed partnership with Corsair Capital. Investcorp Corsair is the lead financial sponsor of the Project, and its wholly owned airports platform Vantage Airport Group, ‘Vantage’, serves as the developer, operator, and manager of the new terminal.
The $4.2 billion project will replace the current Terminal 7 with improved efficiencies and experiences for passengers by connecting international and domestic flights from Terminal 5 through a new 111,483 sq m terminal. Investcorp Corsair is a $4.8 billion global investment firm focused on transportation, logistics, and associated infrastructure subsectors.
In January 2024, Investcorp marked a decade of strategic alliance with INJAZ Al Arab, the region’s foremost non-profit business education organisation which is enhancing their dedication to empowering MENA’s youth to thrive in the global economy. Since initiating their partnership in 2013, Investcorp and INJAZ Al Arab have focused on fostering the entrepreneurial spirit among Middle Eastern youth, impacting over 13 countries. This partnership has been pivotal in providing educational programmes in workforce readiness, financial literacy, and entrepreneurship, benefiting hundreds annually.
Name: Renuka Jagtiani
Designation: Chairwoman and CEO
Company: Landmark Group
Industry: Retail
For over 30 years, Jagtiani has steered the corporate strategy of Landmark Group, significantly contributing to its emergence as a leading omnichannel retailer of locally recognised brands in the MENA region. Her role in the establishment of the high-street fashion brand Splash in 1993 was pivotal, marking a significant milestone in the group’s history. Her leadership has also facilitated Landmark Group’s successful foray into the e-commerce sector over a decade ago.
In her current role, Jagtiani is focused on furthering the group’s vision, refining its strategic direction, and identifying new business opportunities. She works in close collaboration with the leadership teams, offering her strategic insights to inform decisions that shape the group’s future trajectory. Her dedication and strategic acumen have been foundational to Landmark Group’s achievements, embodying the group’s commitment to innovation and growth.
Landmark Group has expanded into a multifaceted retail and hospitality conglomerate, boasting over 2,200 retail stores, alongside leisure and hospitality establishments across the GCC, Middle East, India, Southeast Asia, and Africa. Currently, the group stands as one of the GCC’s largest omnichannel retailers and the premier retailer of home and fashion products in India. Among its portfolio are retail brands such as Max, Splash, Babyshop, Centrepoint, Shoemart, Homecentre, Emax, Fitness First, and Funcity, among many others.
Landmark Group has transformed the retail landscape in Dubai, beginning its remarkable ascent with the inception of a single store specialising in baby products in Bahrain in 1973, founded by Micky Jagtiani. This modest beginning has burgeoned into a vast network encompassing over 2,200 retail outlets across more than 20 countries. Under Jagtiani’s visionary leadership, the group expanded its horizons into e-commerce and established the largest privately-owned logistics and distribution hub in the MENA region.
Multiple collaborations
The group is committed to fostering a positive ecosystem, actively seeking collaboration with partners to enhance their journey. In this vein, Landmark Group has partnered with The Science-Based Targets Initiative (SBTi), a joint effort among globally recognised organisations such as the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wildlife Fund for Nature (WWF). Additionally, the group has aligned with the UAE Alliance for Climate Action (UACA) as an Alliance Achiever, demonstrating its commitment to the UAE’s Net Zero by 2050 Strategic Initiative.
On 18 February 2024, Landmark Group and Emirates Schools Establishments (Taaleem) have announced their partnership to launch the ‘Superkidz’ health education programme across UAE public elementary schools. This comes within the framework of the annual Beat Diabetes initiative, coinciding with the 14th annual Beat Diabetes walk at Za’abeel Park, Dubai, which was hosted by Landmark Group and saw the participation of over 15,000 people. The Beat Diabetes initiative and the Superkidz programme initiatives are carried out in alignment with the social pillars of Dubai’s ambitious D33 Agenda, which emphasises health, well-being and social welfare for all residents of the city.
Working for a sustainable future
Landmark Group has advanced its sustainability agenda by securing green financing from its banking partners, becoming the first private sector entity to engage in a sustainability-linked loan. This initiative is part of the group’s commitment to integrating green finance products into its financial strategy, with the proceeds aimed at supporting further environmental projects.
The group has set a goal to achieve net-zero emissions for scopes 1, 2, and 3 by 2040-2050, focusing on reducing carbon emissions, waste, water use, and energy consumption across its operations. It is committed to setting science-based targets to ensure these objectives are met. Enhancing its renewable energy capacity, Landmark Group has increased its solar energy output to 8.3 megawatts, with an additional 2.1 MWp from solar installations in the UAE.
This increase covers 14 percent of its Scope 1 and 2 energy needs in the UAE, with a potential expansion to 30 percent as regulatory frameworks evolve. The group is also actively reducing waste through efficient practices and recycling initiatives, including an e-waste campaign in collaboration with Dubai Municipality. By securing green financing and committing to sustainability-linked financial products, Landmark Group is reinforcing its commitment to a sustainable future.
Other key achievements
Landmark Group’s commitment to philanthropy reaches across international borders through collaborations with the Jagtiani Foundation and The LIFE Foundation, partnering with esteemed local non-profits in India like Apnalaya, Jan Sahas, Oscar Foundation, and SAVE to tackle critical issues such as the rights of textile and garment workers and the eradication of child labour.
The group demonstrates entrepreneurial vigour in both its operations and personnel management. One of its innovative ventures, VIVA, was launched in February 2018 in the UAE and has rapidly expanded to over 84 stores in the UAE and Oman within two years, becoming a preferred destination for groceries and household items. STYLI, tailored for the young, mobile, and tech-savvy demographic in the GCC, operates as an online-only fashion platform offering seamless returns and cash-on-delivery payment options, facilitating a hassle-free shopping experience.
Additionally, Landmark Group has committed over $272 million to enhance its supply chain capabilities with the construction of the Omega DC facility. This logistics and distribution hub, equipped with more than 6,000 solar panels, is set to generate 4,200 megawatt-hours of energy annually, showcasing a significant step towards sustainability. In 2022, Landmark Group launched Logistiq, a third-party logistics enterprise leveraging artificial intelligence, big data, IoT, robotics, and automation to provide advanced logistics solutions, including B2B, international, and document deliveries.
Name: Rizwan Adatia
Designation: Chairman
Company: COGEF Group and RAF Global
Industry: Retail
A business leader and philanthropist, Adatia is an accomplished entrepreneur with businesses in 10 African countries, employing over 4,000 employees. Vision Exports was incorporated in 2007 as a rapidly developing trading network that aspires to establish long-lasting relationships between buyers and suppliers worldwide. The company’s head office is based in Dubai with branch offices in Yiwu, China as well as Nairobi, Kenya.
Originally from Porbandar, a small town in India, Currently, Adatia leads both a global commercial enterprise and a charitable organisation with activities spanning DR Congo, Mozambique, Swaziland, and Madagascar. His leadership focuses on a multi-sectoral strategy offering tailored solutions to meet the needs of underprivileged communities. He heads Vision Exports, founded in 2007, which has evolved into a dynamic trading network, dedicated to forging enduring connections between global buyers and suppliers.
Headquartered in Dubai, the company extends its operations through branch offices in Yiwu, China, and Nairobi, Kenya. Initially concentrating on meeting the demands of the Eastern African market, Vision Exports has skilfully expanded its operations to facilitate cross-trade, supported by multiple warehousing facilities worldwide, thereby broadening its ability to cater to global demands. Vision Exports has diversified its offerings by developing an exclusive range of products that combine elegance, durability, and affordability.
RAF Global, a private, non-profit organisation that works to enhance the quality of life in DR Congo, Mozambique, Swaziland, and Madagascar. With a passion for community development, Adatia works at the grass roots for uplifting lives among the rural communities across Africa and India. The NGO’s impact extends to more than one million individuals through both long-term initiatives and emergency programmes.
This initiative has garnered support and partnerships from entities with aligned goals, enhancing the reach and effectiveness of its community-focused projects. The objective is to craft innovative, actionable strategies that engage the public and address skills development, healthcare, education, financial inclusion, and self-sufficiency. Since its inception, the community work under Adatia’s guidance and has positively impacted over 600,000 impoverished households with comprehensive programmes in healthcare, nutrition, water and sanitation, education, economic empowerment (targeting women and youth), and emergency humanitarian interventions.
About COGEF
COGEF is a multi-national consumer goods group currently present in eight African countries and with operations in a vast range of sectors, including import/export trade, manufacturing, and retail. Set up in Mozambique in 2004 and currently with a countrywide presence, COGEF is the number one player in the cash & carry and retail market in the country, has therefore direct exposure to the fast-moving consumer goods sector in Mozambique. With 22 ‘Cash & Carry’ supermarkets, 130 retail-wholesale outlets, four manufacturing units and more than 2,500 employees COGEF today has shown resilience and tenacity across all segments of its business.
Name: Satish Sanpal
Designation: Chairman
Company: ANAX Holding
Industry: Investment
Sanpal, a distinguished entrepreneur renowned for his transformative initiatives, helms ANAX Holding, an innovative venture set to reshape various sectors regionally and globally. Drawing from extensive experience in media, hospitality, and real estate development, he has consistently emerged as a pioneering force in the business arena and is widely recognised for his keen eye for identifying growth opportunities. Sanpal’s forward-thinking approach, coupled with an acumen for integrating innovative concepts, has propelled his ventures to unequivocal heights.
As the driving force behind numerous enterprises, he has solidified his reputation as a visionary leader in global entrepreneurship. Sanpal’s expertise in the hospitality sector has paved the way for strategic alliances with key hotel chains worldwide, underscoring his unwavering commitment to excellence and innovation. ANAX Holding emerges as a disruptor across hospitality, nightlife, real estate, and holding sectors, poised to transform industry standards.
Sanpal’s dedication to remaining abreast of industry trends ensures that his ventures, including ANAX, stay at the forefront of emerging technologies and evolving consumer preferences.
A focus on ANAX Holding
ANAX Holding, a celebrated investment firm recognised for its expertise in managing a diverse portfolio of strategic businesses across multiple industries, stands as a beacon of innovation and growth. Founded by Sanpal with a vision to foster progress as well as transformation, ANAX Holding has emerged as a leader in strategic investments, shaping businesses and steering them towards an upward growth trajectory. The driving force behind their successes is a team of strategic, visionary individuals dedicated to fuelling growth, creating value, as well as guiding each portfolio company towards its unique objectives.
Backed by their deep industry expertise, extensive network, and advanced analytical tools, ANAX Holding identifies promising investment opportunities and empowers portfolio companies to achieve their full potential. Whether investing in emerging technologies or established markets, the company possesses the requisite skills and experience to foster success stories. Steered by expertise in managing a diverse portfolio of strategic businesses across multiple industries, ANAX Holding serves as an instrumental force in the global business landscape.
Committed to fostering sustainable growth and delivering superior returns for partners, ANAX Holdings’ mission is to strategically invest in lucrative sectors, capitalise on potential opportunities, and manage the portfolio effectively to achieve consistent and sustainable growth. Their vision is to become a leading investment firm that empowers businesses to thrive and contribute to a flourishing regional and global economy. By collaborating with dynamic companies boasting innovative business models, strong management teams, and robust competitive advantages, ANAX Holding facilitates sustainable growth and enables them to outperform their peers in the market.
Name: Shamlal Ahamed
Designation: Managing Director
Company: Malabar Gold & Diamonds
Industry: Retail
MP Ahamed, a former spice farmer and trader, founded Malabar Jewellery in 1993 in Kozhikode, Kerala, by selling part of the family property. Beginning with a staff of eight members, he quickly expanded his clientele and business into neighbouring towns. His son, Shamlal Ahamed, joined the company in 2002 after graduating in computer applications. Recognising the potential in Dubai due to the significant customer base from Gulf countries, Ahamed initiated the company’s first international expansion there.
Despite initial setbacks due to inexperience, leading to the closure of their Dubai showroom within eight months, he viewed this as a learning experience. Supported by his father’s encouragement to see failure as a growth opportunity, Ahamed continued to learn from his father, absorbing his business principles and customer-first approach.
In 2007, he took charge of Malabar Gold & Diamonds’ international expansion, choosing Sharjah for its large Asian population and starting with wholesale operations before moving into retail. His strategy of offering excellent service, competitive buy-back rates, and strong exchange policies with lifetime maintenance-built brand loyalty and trust among customers.
About Malabar Gold & Diamonds
Established in 1993, Malabar Gold & Diamonds, the flagship entity of the Malabar Group, has evolved into a global jewellery retailer with over 330 outlets across 12 countries, including a significant international footprint in India, the Middle East, Far East, the US, and Canada.
The company operates 14 manufacturing units in India and the GCC, producing premium quality jewellery and offers 12 unique jewellery brands to cater to diverse customer preferences. The company’s success is attributed to its tailored offerings, exceptional customer service, and high craftsmanship standards.
Recent innovations, such as the ‘100 Percent Value on Diamond Exchange’ policy, have been positively received, aligning diamonds as both a luxurious adornment and a valuable investment. Embracing e-commerce, Malabar Gold & Diamonds has advanced technologically, partnering with global tech giants to enhance its omnichannel retail capability, thereby improving customer service and operational efficiency.
The company, with a reported annual turnover of $5.2 billion, currently holds the position of the world’s sixth-largest jewellery retailer. The conglomerate employs a global workforce of over 19,500 professionals from more than 26 nations, all contributing to the firm’s sustained growth.
Malabar Gold & Diamonds extends its offerings through its online platform, www.malabargoldanddiamonds.com, enabling customers to shop for jewellery remotely.
Further diversifying its portfolio, the group has launched MGD – Lifestyle Jewellery, catering to the contemporary, autonomous woman with its modern, lightweight jewellery designs. Commitment to ESG principles has been a cornerstone of the Malabar Group since its inception, focusing on significant areas such as health, housing, hunger-free world, education, environment, and women’s empowerment.
The group integrates these principles of sustainability and responsibility deeply into its business model, continually updating its ESG objectives to uphold its reputation as a socially responsible entity. In alignment with this commitment, the Malabar Group dedicates 5 percent of its profits to support related initiatives within its operational territories, affirming its dedication to societal welfare.
Global expansion and partnerships
The UAE’s Malabar Gold & Diamonds, the sixth largest jewellery retailer globally, has forayed into the 13th country by launching a showroom in Sydney. Currently, it has a retail presence of over 340 showrooms spread across India, UAE, Qatar, Kuwait, Oman, KSA, Bahrain, Singapore, Malaysia, the USA, the UK, Canada, and Australia.
It will be the largest jewellery showroom in Sydney with a collection of jewellery in 18K, 22K gold and diamonds. As staunch advocates for the ‘Make in India; Market to the World’ initiative, this move also capitalises on the robust trade ties and recent bilateral free trade agreement between Australia and India.
Malabar Gold & Diamonds is renowned globally for offering an unparalleled jewellery buying experience with convenience, and customer-friendly policies along with the ‘Malabar Promise’ of incomparable quality and service assurance. Malabar Promise includes a transparent price tag indicating stone weight, net weight, and stone charge of the jewellery, assured lifetime maintenance from any of the showrooms across 12 countries, guaranteed buyback, IGI and GIA-certified diamonds ensuring 28-point quality check of global standards, 100 percent value on gold exchange, 100 percent value on diamond exchange, 100 percent 916 hallmarked jewellery, responsible sourcing, fair price policy and fair labour practices.
Malabar Gold & Diamonds’ recent strategic partnership with Emirates NBD has supported the acceleration of its digital transformation strategy while ensuring the highest level of data integrity and security standards.
Using Emirates NBD’s financial Application Programming Interface (APIs), the bank has created an omnichannel vendor management system for Malabar Gold & Diamonds, offering real time transaction processing and status enquiry for all its suppliers. The partnership marks Emirates NBD’s first collaboration with a global jewellery client, creating a best practice payment benchmark for other members of the precious metal industry to adopt.
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.
Key achievements
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.
Philanthropic and education initiatives
Vayalil has committed his professional life to enhancing the well-being of individuals, initially serving as a physician before transitioning to spearhead a range of multifaceted healthcare organisations. He has instilled a core value of community engagement within the ethos of these entities.
Moreover, he is known for his consistent support of emerging talents, as evidenced by various initiatives aimed at nurturing young achievers over the years. Also, his dedication to fostering an environment of athletic achievement and empowerment highlights his desire to motivate new talents towards achieving success.
Vayalil actively contributes to the One Billion Meals Initiative, a visionary project initiated by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, aimed at alleviating hunger in underprivileged communities internationally. Additionally, his philanthropic efforts extend to supporting innovative challenges, such as a distinctive climate initiative at Saïd Business School, University of Oxford, and facilitating 50 complimentary cardiac surgeries for children diagnosed with congenital heart conditions, among other endeavours.
About Burjeel Holdings
What began as a singular hospital founded by Vayalil in Abu Dhabi in 2007, has transformed into a network of medical innovation, attracting top-tier medical talent from around the globe and integrating cutting-edge technology across its operations. Burjeel Holdings, a premier provider of healthcare services in the MENA region, employs a robust team of over 10,000 healthcare professionals and caters to over 5 million patients each year.
The organisation specialises in medical fields that include oncology, nuclear medicine, advanced orthopaedics and spine surgery, advanced gynaecology, foetal medicine, paediatric sub-specialties, as well as organ and bone marrow transplants. By leveraging the advanced capabilities of flagship establishments like Burjeel Medical City, Burjeel Holdings continues to expand its proficiency in delivering complex medical care.
In its strategic expansion, Burjeel Holdings has ventured into key markets, marking its presence in KSA, and has developed a comprehensive network of physiotherapy, rehabilitation, and wellness centres in the kingdom. The group has also announced the launch of the first two specialised day surgery centres in Riyadh by 2025.
Today, Burjeel Holdings oversees a network of 68 assets, including 16 hospitals and 30 medical centres. Recently, Burjeel Holdings and e& enterprise unveiled two significant partnerships set to transform healthcare in the UAE and beyond. These initiatives include the introduction of an innovative telemedicine services project which marks a leap forward in healthcare technology, with the development of an advanced cloud-based telemedicine application at its core.
Name: Siddeek Ahmed
Designation: Chairman and Managing Director
Company: Eram Group
Industry: Diversified
With an illustrious career exceeding three decades, Dr. Ahmed helms Eram Group, a globally recognised business conglomerate that spans over 40 entities across 16 countries. He has been instrumental in steering Eram Group towards its remarkable success and milestones since its foundation in the mid-1990s. His leadership has not only propelled the group’s commercial achievements but also underscored a commitment to addressing pivotal societal challenges. Ahmed’s influence extends to significant roles within the business community, including his position as Co-Chair of the FICCI Arab Council, and his involvement in various advisory capacities across business groups and government initiatives in Kerala.
Among the numerous accolades Ahmed has received, the 2021 Pravasi Bharatiya Samman Award stands out, highlighting his impactful contributions to business and societal upliftment, particularly his efforts to improve sanitary conditions, address environmental issues, and create employment opportunities for the underprivileged in India. Furthermore, his innovation in sanitation was recognised in 2015 with the Toilet Titan Award from the Prime Minister of India, honouring the introduction of India’s first e-Toilet by Eram Scientific.
In addition to his business ventures, Ahmed is deeply engaged in philanthropy, actively supporting, and initiating a range of charitable projects. His commitment to philanthropy is evident through partnerships with governments, trusts, NGOs, and individual collaborators, furthering his dedication to making a meaningful impact on society.
About Eram Group
Based in Gulf Cooperation Council (GCC) region, Eram Group is a diversified conglomerate with its global headquarters in Al Khobar, KSA, and regional headquarters in Dubai. From humble beginnings in the 1990’s and under the leadership of Ahmed, the group has now grown to over 40 well-managed companies with strategic locations in Asia, Europe and North America. The group encompasses over 40 companies across a broad spectrum of industries including oil and gas, power, construction, manufacturing, travel, healthcare, IT, media, Logistics, automotive, and training and education.
Boasting a global footprint with operations across the Middle East, Europe, Asia Pacific, and the US, the group employs a vast, multicultural workforce dedicated to delivering innovative solutions across various markets. Notable entities within the Group, such as ITL World, a leading travel management company in the GCC, and Eram Scientific, a premier R&D firm known for its award-winning sanitation solutions, are celebrated for their commitment to quality service and ground-breaking innovations.
As a first-generation family enterprise, Eram Group is deeply committed to societal and social causes, pledging to continue channelling its resources towards creating a positive impact. This includes promoting education, enhancing health and sanitation, and empowering youth and women, both through its philanthropic initiatives and collaborations with international organisations, such as the United Nations, the Bill & Melinda Gates Foundation, various governments, and NGOs. Eram Group has also successfully established social enterprises in public sanitation and educational sectors, which has won global acclaim.
Name: Siddharth Balachandran
Designation: Executive Chairman and CEO
Company: Buimerc Corporation
Industry: Investment
Balachandran, a distinguished figure in Dubai’s business landscape, is a seasoned management professional, investor, and philanthropist, boasting over 20 years of experience. His expertise lies in crafting strategies that underscore the mission of his organisation while fostering a leadership cadre that drives success and innovation.
In a notable acknowledgment of his contributions, Balachandran was honoured with the Pravasi Bharatiya Samman Award (PBSA, 2023) by the President of India, Smt. Droupadi Murmu, in Indore, India, on 10 January 2023.
This recognition marks him as the sole recipient from the GCC region for the year, as well as one of the youngest awardees in the history of this prestigious accolade. The award, which is the highest honour bestowed upon non-resident Indians (NRIs) and overseas citizens of India, celebrates outstanding contributions in various fields.
For over two decades, Balachandran has excelled as an investor, employing a value investing approach grounded in rigorous financial analysis. His acumen in the Indian financial markets has established him as a shrewd investor, particularly noted for his investments in companies with strong fundamentals and growth potential.
His leadership roles extend to serving on the board of governors of PIOCCI (Platform for Indians to Operate, Cooperate, Collaborate and Invest) in the GCC and the governing board of the Indian Business and Professional Council (IBPC) in Dubai. He is a founding member of the UAE India Business Council – UAE Chapter.
In 2006, Balachandran took up the mantle as vice chairman of the India Club, Dubai, later becoming its chairman in 2010, thereby becoming the youngest individual to hold this position. Currently, in his second term as chairman, he also holds the position of patron governor of the Indian Social & Cultural Centre, Abu Dhabi, and serves as the Director of Chinmaya International Residential School (CIRS) in Coimbatore, Tamil Nadu, India.
Balachandran’s philanthropic efforts have received widespread recognition and acclaim, significantly impacting various communities. His contributions span a multitude of causes in the UAE and India, including child and elder welfare, environmental conservation, women’s empowerment, healthcare, animal welfare, and the preservation of art, culture, and heritage.
About Buimerc Corporation
Buimerc Corporation, with its headquarters in Dubai, specialises in the identification and nurturing of high-quality asset classes. Situated within the Dubai International Financial Centre (DIFC) ecosystem, the company is committed to fostering credible businesses through strategic capital allocation.
Their investment philosophy emphasises comprehensive market research as well as industry analysis, focusing on companies with distinct core competencies and execution strategies. The company’s portfolio spans various sectors, including trading, education, real estate, as well as banking, facilitated through direct investments, or regulated financial platforms.
Name: Sima Ved
Designation: Founder and Chairwoman
Company: Apparel Group
Industry: Retail
Ganwani Ved’s journey from her birthplace in Africa to becoming a pivotal figure in the global retail industry is a tale of ambition and relentless pursuit of excellence. In the 1970s, her family relocated to Dubai, a move initiated by her father, Lal Ganwani, a visionary entrepreneur, and the founder of Lal’s Group in Dubai. Her academic pursuits took her to King’s College London, UK, where she immersed herself in the study of business management, earning both a bachelor’s degree and an MBA.
Upon her return to Dubai in the early nineties, Ganwani Ved embarked on her professional journey at the age of 20, taking up a managerial role in one of her father’s shopping malls. It was here that she learned the ropes of the retail industry, understanding the nuances of customer service, operations, and management, laying a solid foundation for her future endeavours.
The start of Apparel Group
The year 1996 marked a turning point in Ganwani Ved’s career when she, alongside her husband Nilesh Ved, identified a significant gap in the Middle Eastern market; the lack of international retail brands. Seizing this opportunity, they founded the Apparel Group, with a mission to introduce and establish global brands within the region. Starting with a few brands, today, the Apparel Group stands as a testament to Ganwani Ved’s visionary leadership and entrepreneurial acumen, boasting a portfolio of over 2,100 stores across 14 countries, encompassing more than 85 brands.
The group has been recognised for its excellence and innovation, receiving over 202 awards. Under her leadership, the company has adopted the motto ‘Exceed Expectations Everyday’, a reflection of its commitment to offering more than just products, creating memorable and immersive shopping experiences that resonate with consumers across diverse cultures and backgrounds.
The company’s success is further underscored by its diverse workforce of over 20,000 employees, who bring diverse cultural perspectives and expertise, enhancing its global footprint. With a strategic presence in the GCC, the Apparel Group has ventured beyond, making significant inroads into markets in India, South Africa, Singapore, Indonesia, Thailand, Malaysia, and Egypt. Looking to the future, plans are in motion to explore and penetrate emerging markets, with Hungary and the Philippines earmarked as key destinations.
Key achievements
A forward-thinking conglomerate, the Apparel Group focuses on achieving sustainable development goals (SDGs), the world’s best plan to build a better world for people and our planet by 2030. The SDGs are designed to bring the world to several life-changing ‘zeros’, including zero poverty, hunger, AIDS and discrimination against women and girls. Their achievement in launching F5 Global, a sustainable brand, stands as a testament to their commitment, especially since it was inaugurated by her daughter.
This dedication to innovation is evidenced in initiatives like the 6thstreet Phygital store, which is set to redefine retail. Ganwani Ved also feels strongly about the significance of omni-channel experiences, and their partnership with Nykaa exemplifies this commitment, aiming to establish an omni-channel beauty retail platform in the GCC that caters to the diverse preferences of their customers.
Philanthropic endeavours
Ganwani Ved actively engages with global organisations such as YPO and CEO, channelling her compassion for underprivileged children into impactful initiatives. Notably, she mentors her teenage daughter in launching the Athleisure brand F5global, dedicating a portion of the profits to the education of underprivileged kids. Simultaneously, she has played a key role in the mentoring and founding of the social commerce beauty platform NESSA with her eldest daughter. Her commitment to philanthropy and entrepreneurialism is deeply ingrained in her DNA, reflecting a legacy of success and positive societal impact.
Rapid expansion across the GCC and India
On 13 February 2024, the Apparel Group inaugurated 19 new stores across cities in India, the UAE, KSA, and Qatar. This expansion enhances the group’s portfolio with globally recognised brands, reaffirming its dedication to providing international brands to consumers throughout the GCC region and Asia.
In the UAE, a milestone achievement includes the opening of the inaugural ASICS store in Dubai Mall, accomplished within a commendable timeframe of 14 days. Further augmenting the retail offerings, the group introduced Bliss Bites in Index Tower, DIFC, and opened stores for Sketchers, Nine West, Aldo Accessories, la Vie en Rose, and Birkenstock in Abu Dhabi’s Reem Mall. Qatar welcomed a new Crocs store at Doha’s Landmark Mall, while KSA saw the launch of Athlete’s Co. in Riyadh’s Riyadh Park, Cold Stone Creamery in Jeddah’s Red Sea Mall, and Rituals in Jeddah’s The Village Mall, further solidifying the Apparel Group’s presence in these dynamic markets.
Apparel Group is also advancing its expansion efforts in India with the recent opening of two Victoria’s Secret stores in prime locations within Gurugram and Mumbai. These new outlets reflect the company’s dedication to catering to the increasing consumer appetite for international brands in the Indian market. The launch of these stores represents Apparel Group’s commitment to offering a premium and captivating retail environment. By introducing the ‘Store of the Future’ concept, the brand seeks to provide an immersive shopping experience, thereby establishing new standards in retail innovation.
The Apparel Group’s commitment to providing an extensive omni-channel shopping experience is exemplified by its portfolio of international brands, covering fashion, footwear, and lifestyle products from the US, Canada, Europe, Australia, and Asia such as Tommy Hilfiger, Charles & Keith, Skechers, Aldo, Nine West, Aeropostale, Jamie’s Italian, Tim Hortons, and more.
Name: Sunil Kaushal
Designation: CEO
Company: Standard Chartered Africa and Middle East (AME)
Industry: Banking
In addition to his current role, Kaushal is a member of Standard Chartered’s Global Management Team, the highest executive body within the bank. With over two decades of experience within the group and over 35 years in diverse banking markets across North Asia, Southeast Asia, South Asia, Middle East, and Africa, he has held senior roles throughout his career span encompassing wholesale, retail, SME banking, and country management.
He holds a Bachelor of Commerce Degree from Bombay University, India, and a postgraduate qualification as a Chartered Accountant from the Institute of Chartered Accountants of India. Kaushal has also completed general management courses at Harvard Business School, INSEAD, Oxford University, and London Business School.
Prior to his career with Standard Chartered, Kaushal was appointed in diverse positions in investment banking, corporate finance, commercial banking, and foreign exchange at NatWest Markets, SocGen-Crosby, and American Express Bank in Mumbai, India. Within the bank, his previous roles include being the regional CEO of Standard Chartered South Asia and CEO of Standard Chartered India. He has also served as the head of Corporate Banking in the UAE, head of Originations and Client Coverage in Singapore, global head of Small and Medium Enterprises and New Ventures in Singapore, and CEO of Standard Chartered Bank in Taiwan.
He also spearheaded the acceleration of Standard Chartered’s digital transformation in the AME region, launching digital banks across nine key markets across Africa. The bank also digitised its wealth management offering and expanded accounts by over 900,000. The successful establishment of these digital banks under his leadership serves as a testament to the bank’s expanding digital footprint in the region.
About Standard Chartered AME
With a presence in 52 markets and extending services to clients in an additional 64, Standard Chartered is guided by the brand promise #hereforgood and dedicated to driving commerce and prosperity through its diversity. As a super-connector international bank, Standard Chartered is deeply rooted in AME with an unrivalled presence across 18 markets.
Standard Chartered connects the Africa and Middle East markets to each other and to global opportunities, supporting the development of the AME region by identifying financing opportunities for key infrastructure projects across a range of sectors.
Additionally, with its combined network, capabilities, heritage and local expertise, Standard Chartered is the trusted partner to help businesses, individuals and communities unlock exciting possibilities to grow their wealth, and drive progress and prosperity for generations and beyond. It is also powering the advancement of emerging nations through financing major infrastructure projects and leading in Islamic Finance solutions.
Standard Chartered is a catalyst for sustainable growth, working in partnership with governments, businesses, communities to transform banking and lives. The bank is building the new economies that set the pace in trade, innovation and sustainability, to deliver prosperity for the places it calls home.
Notable milestones include enabling the region’s inaugural Receivables Financing Facility for Siemens in the UAE and launching the world’s first transition Sukuk for Etihad. The bank acted as the sole green loan coordinator for Masdar and PT PJB on a project representing the largest floating solar photovoltaic asset under construction globally (excluding China) and as the sole sustainability coordinator for Majid Al Futtaim for the largest-ever sustainability-linked loan from a non-government related entity in the Middle East and North Africa.
In June 2023, Standard Chartered issued Saudi Arabia’s first-ever green guarantee for Larsen and Toubro, a global leader in engineering, procurement, and construction projects. The green guarantee is issued for the green hydrogen project development at NEOM.
Standard Chartered also acted as a Joint Active Bookrunner and Joint Green Structurer for the Public Investment Fund’s issuance in the form of their $3 billion green bond. This transaction marked a significant milestone, as it became the first sovereign wealth fund in history to issue a 100-year tranche and the largest ESG issuance ever seen from the region.
In 2023, the bank’s Africa and the Middle East operations posted its highest annual profit since 2015 and was the group’s fastest growing region, with an underlying profit before tax of $1.31 billion, up 66 percent (90 percent at ccy). Additionally, underlying operating income rose by 14 percent (26 percent at ccy) to $2,81 billion and income was up 29 percent (up 38 percent at ccy).
Credit Impairment net release of $91 million while loans and advances to customers were up 8 percent YoY (up 15 percent at ccy) and customer accounts were up 4 percent (up 9 percent at ccy). Risk-weighted assets were 6 percent lower and return on tangible equity increased to 16.6 percent from 9.3 percent in FY22.
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.
Background
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.
Philanthropic initiatives
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.
Environmental responsibility
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.
Furthermore, the school’s advanced thermal insulation and strategic architectural orientation are projected to lower its carbon dioxide emissions by 1,154 tonnes each year. This initiative marks the first educational establishment at Masdar City, underscoring the UAE’s dedication to fostering a sustainable future. The school’s objective is to nurture environmentally aware and socially responsible individuals for the global community. By employing innovative pedagogical approaches, students are motivated to delve into and comprehend the intricate interrelations among the environment, society, and economy.
Family first
For over six decades, GEMS Education has consistently prioritised ‘Family First’ as a fundamental value in its educational approach. As the largest private education provider in the UAE, in February 2024, GEMS Education unveiled its intention to integrate this foundational principle into a new initiative aimed at fostering global change, aligning with the UAE leadership’s vision for social transformation. This ethos is in harmony with the objectives of the Dubai Social Agenda 33, which underscores ‘Family: The Foundation of Our Nation’ as a key theme, reflecting the key role of family in the fabric of society.
In 2024, GEMS Education plans to initiate Family First activities, which will encompass a comprehensive survey on family values, including a series of monthly discussions in the style of TED Talks focusing on various facets of family support. These discussions will be conducted by known global experts and advocates. All 44 GEMS schools in the UAE and Qatar are committed to embedding the significance of family values and the importance of family within their educational curriculum, starting from the kindergarten level and continuing throughout the students’ educational journey.
Entrepreneurship programmes
On 5 July 2023, GEMS Education and 8billionideas formed a three-year strategic partnership for students, a partnership that extends 8billionideas’ EdTech resources to GEMS schools in the UAE and Qatar. The resources focus on promoting entrepreneurship, skills for the future, careers, and well-being. Teaching staff are also set to benefit from professional development modules and coaching.
The two organisations have been collaborating since the beginning of 2022, and recently signed a formal long-term agreement aimed at enhancing the learning experience of students across the GEMS network in the UAE and Qatar. 8billionideas, a UK-based education technology company, equips young people with diverse transferable skills in entrepreneurship that will support them in their future endeavours.
Name: Suresh Vaidhyanathan
Designation: CEO
Company: Abu Dhabi Food Hub, Special Projects GAG
Industry: Logistics
Vaidhyanathan is a seasoned business leader in the region, boasting a career spanning over two decades with prominent multi-business organisations. His expertise encompasses diverse business sectors and spans multiple geographies, including the Middle East, Africa, Europe, Asia, and Australia.
Currently at the helm of the Abu Dhabi Food Hub–KEZAD, a ground-breaking project encompassing a 3.3 sq km food wholesale market, the project is strategically aligned with the nation’s food security ambitions and aims to establish an unparalleled ecosystem catering to all food categories.
Throughout Vaidhyanathan’s career, he has navigated various business sectors, including automotive, hospitality, agri-business, logistics, food, retail, healthcare, aviation, real estate, manufacturing, technology, and services. In addition to his current role at Abu Dhabi Food Hub-KEZAD, Vaidhyanathan also holds the role of the CEO, Special Projects at Ghassan Aboud Group, a conglomerate in automotive, food distribution, retail, catering, hospitality, logistics, healthcare, and media verticals.
Here he leads the group’s two strategic public-private partnerships with the Abu Dhabi Ports Group – Abu Dhabi Food Hub and the Global Auto Hub. Vaidhyanathan is steering the group’s disruptive digital platforms and e-commerce business units including the FMCG B2B platform BuyGro and Auto Parts B2B platform BuyParts24.
Abu Dhabi Food Hub – KEZAD
Strategically situated between Dubai and Abu Dhabi in the UAE, Abu Dhabi Food Hub–KEZAD is a joint venture between Abu Dhabi Ports Group and Ghassan Aboud Group, in collaboration with Rungis. This signifies a forward-looking supply chain platform and a crucial component of the UAE’s food security agenda.
Envisioned to be the largest integrated ecosystem for trading all food commodities in the region, it will bring integrate traders, logistics services providers, value-added service providers, government enablers, and private commercial service providers. Functioning as a dedicated food trade zone, the hub will accommodate an extensive array of food products, ranging from fruits and vegetables, meat and poultry, seafood, dairy, dry foods, and commodities, to flowers and gourmet products.
In addition to physical trading, Abu Dhabi Food Hub–KEZAD is poised to revolutionise the digital landscape by fostering digital trade through a pioneering platform. This platform will facilitate e-commerce and streamline inbound-outbound trading formalities, all within a unified digital framework. The hub will play a key role in modernising food trade practices in the region, contributing significantly to the efficiency of the entire food supply chain.
In January 2024, Etihad Cargo, in collaboration with Abu Dhabi Airports and Abu Dhabi Food Hub – KEZAD, have established a memorandum of understanding (MoU) to launch Fresh Corridor 2.0, a comprehensive and transparent perishable goods air corridor. This project aims to expand food source diversification, develop new trade routes, and improve the availability and variety of food products for the region’s consumers.
Name: Tariq Chauhan
Designation: Group CEO
Company: EFS Facilities Services Group
Industry: Facilities Management
Boasting over three decades of expertise, Chauhan has been instrumental in transforming EFS Group into a global facilities management brand, achieving excellence across the Middle East, Africa, South Asia, and Europe. Prior to EFS, Chauhan spent decades working within, leading, acquiring, and transforming businesses across the world. He has developed a reputation for finding the potential within SMEs across various fields including IT, transaction services, and structured and trade finance services.
His influence extends beyond EFS, as evidenced by his significant roles within the UAE-Indian Business Council (UIBC) and Emerge Education. His contributions to the 2023 Coursera Emerge Education Research Report underscore the critical need for learning and development opportunities for digitally disadvantaged workers. In collaboration with notable organisations such as the Federation of Indian Chambers of Commerce & Industry (FICCI) and the Harvard India Conference, he is committed to upskilling as well as enhancing worker welfare.
Chauhan’s initiatives, notably the Tejas programme in conjunction with the National Skill Development Corporation (NSDC), have successfully empowered over 500 individuals with employment opportunities. Additionally, he spearheads EFS’s collaboration with Dawamee, a programme initiated by the Emirates Foundation aimed at fostering employment opportunities for Emirati nationals. He also f founded the Abhaar Worker Welfare Foundation, an NGO dedicated to uplifting frontline workers, showcasing his deep commitment to philanthropy and humanitarian efforts. This dedication was recognised with an Honorary D.Litt. from the University of Science and Technology Meghalaya in India.
As an author, speaker, and columnist, Chauhan disseminates valuable insights on economic trends, the global facilities management sector, and frontline workers’ well-being, employability, and leadership development in business. His bestselling debut business book, ‘Getting to Resilient Mode’, offers advice for individuals aiming for resilience and success in their endeavours. One notable area where he has excelled is in implementing a ‘People First Approach’ within the realm of human resources that has garnered him numerous accolades, including the prestigious People First Leader of the Year in GCC Government HR Awards in 2023.
About EFS Group
EFS Group was established in the year 2000 and today, stands as a formidable giant in the worldwide facilities management (FM) industry. Under Chauhan’s visionary leadership since 2009, EFS has maintained consistent double-digit growth, as he has grown EFS from a $100 million company to a billion-dollar ($1.75 billion in contracts) organisation spanning 23 countries and 25,000 employees.
Its impressive portfolio includes prestigious infrastructure projects including airports, nuclear power plants, and expansive community developments, catering to the top global multinationals and significant governmental entities, including schools and ministries across the UAE, KSA, Qatar, Bahrain, and Kuwait.
Name: Thumbay Moideen
Designation: Founder
Company: Thumbay Group
Industry: Healthcare
In the late 1990s, Dr. Moideen emerged as a pioneering force in the establishment of a business conglomerate that has significantly impacted the sectors of medical education and healthcare services in the UAE. He is recognised as the inaugural expatriate in the UAE to be invited by the Ajman leadership to establish Gulf Medical University (GMU). This set the foundation for what would become a diversified portfolio including research, healthcare, pharmacy, and several hospitality enterprises including Body & Soul gyms, flower shops, Blends & Brews coffee shops, The Terrace, and more.
In the past 25 years, Thumbay Group has transformed from launching the first private medical institute in the region to becoming a dominant force in the healthcare and education sectors. The group’s expansive reach now includes over 110 operational sites across the UAE.
Currently, the group operates the most extensive network of private academic hospitals in the region, with GMU serving as a cornerstone in the Thumbay Group’s commitment to healthcare education and research. GMU is equipped with six colleges offering 35 health professions programmes and has become a hub for students of 96 different nationalities due to its advanced clinical training facilities and the latest technological resources.
In addition, the inauguration of the Centre for Advanced Biomedical Research & Innovation (CABRI) at GMU underscores the group’s dedication to leading the way in medical research and innovation. As the first private teaching hospital in the UAE, GMU boasts a network of over 3,500 alumni who are either pursuing further specialisation or are engaged in professional roles across 60 countries. The university’s extensive academic and research partnerships with over 70 global institutions underscore its international standing and the employability of its graduates.
Led by Moideen, Thumbay Group distinguished itself by earning the JCI Enterprise Accreditation, a first for the UAE, underscoring its excellence in healthcare delivery across its network, which has served over 10 million patients and facilitated 70,000 deliveries. The healthcare division, known for merging innovative research with technology, features the advanced Thumbay University Hospital’s long-term care centre.
The key to the group’s growth strategy are innovation and diversification, highlighted by the Healthvarsity Ed-Tech project and the expansion of Thumbay Healthcare through franchising into markets like KSA, Egypt, and other GCC countries. GMU is also broadening its educational offerings with new degree and diploma programmes developed in partnership with the University of London and Upper Austria.
Future endeavours
The group’s future endeavours include establishing international partnerships for GMU’s Pathway in Medicine Programme and launching specialised institutes for veterinary sciences, artificial intelligence in healthcare, autism, and alternative medicine. Furthermore, the healthcare division plans to introduce a comprehensive Oncology Centre, a Cosmetology Centre, and enhance long-term care strategies, with the aim of extending Thumbay Group’s global footprint.
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.
Dedicated to innovation
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: Vardaraj Shetty
Designation: Founder and Chairman
Company: Ramee Group
Industry: Hospitality
In addition to the multiple roles he holds, Shetty is known as the ‘managing worker’ of the Ramee Group of Companies. He studied in Koteshwara Primary School in India and by the age of 18, shifted his base to Dubai. In 1985, he launched Ramee Group of Hotels, Resorts and Apartments.
He has built one of the region’s largest home-grown hospitality chains, the Ramee Group of Hotels, Resorts and Apartments, with more than 40 properties across cities in the UAE, Bahrain, Oman, and India. He is also the founder trustee of Ramee Foundation & Charitable Trust and is engaged in charitable activities. He is known for his belief in ‘education to all’ and he also believes in improving the standard of living of every individual.
About Ramee Group
The Ramee Group of Hotels, Resorts & Apartments, a distinguished multinational conglomerate, currently manages a portfolio of 42 properties, upholding superior standards throughout its operations. Led by Shetty, the group not only celebrates its current achievements but also plans to broaden its portfolio into various sectors related to the hospitality industry in the upcoming years.
With a considerable presence in the hospitality market, the Ramee Group, along with its subsidiaries, operates a wide range of hotels, resorts, and apartments in the mid-market segment. Its geographical footprint extends across key markets such as the UAE, Bahrain, Oman, and India, establishing it as a pivotal player in the global hospitality sector.
The group’s strategic expansion and commitment to excellence are evident in its yearly addition of properties to its burgeoning portfolio. Committed to delivering unparalleled guest experiences, the group emphasises hospitality as its core business focus, continually enhancing its services across its network of mid-range hotels and service apartments. At the vanguard of culinary innovation, Ramee Hotels prioritises authentic regional flavours and unique chef collaborations across its locations in Bahrain, India, Dubai, and Oman, catering to the growing demand for diverse and unique dining experiences.
Expanding beyond traditional lodging services, the Ramee Group has ventured into the culinary and entertainment industries, launching and developing several restaurant brands and live entertainment venues. Notable establishments under its umbrella include Bollywood Café, Tanatan, It’s Mirchi, R’Adda, Yeda Republic, Bombay Adda, Punjabi Tadka, as well as the Reborn Spa & Wellness Centre and Elegant Beauty Salon. These brands have earned international recognition, reinforcing the group’s influence in the hospitality industry.
The group’s presence in Dubai is marked by the Ramee Royal Hotel in Al Karama, the Regent Palace Hotel in Bur Dubai, and the Ramee Dream Hotel in Business Bay. As it eyes expansion into the luxury segment, a new property has been inaugurated in Pune, India. Moreover, the group actively manages a luxury Japanese restaurant within its five-star Bahrain property, with plans to open a new branch in Mumbai, India, underscoring its ambitious growth trajectory and dedication to enhancing the luxury dining landscape.
Name: Vijay Valecha
Designation: Chief Investment Officer
Company: Century Financial
Industry: Investment
Since his appointment at Century Financial in January 2015, Valecha has amassed over 13 years of invaluable experience in trading within the financial markets. His area of expertise extends to both fundamental and technical analysis, with a particular focus on asset management as well as the intricacies of derivative trading.
Dedicated to advocating for prudent financial management, Valecha has developed a robust interest in multiple financial disciplines, including an in-depth analysis of the global economy, behavioural finance, the evolving field of fintech, strategic retirement planning, as well as systematic and modelling methods. Additionally, he is deeply engaged in refining strategies for both short-term trading and the pursuit of long-term investment objectives.
In Valecha’s commitment to financial education, he has led numerous seminars aimed at demystifying trading strategies and the complexities of technical analysis. He is also a recognised voice in the financial community, contributing regularly to newspapers, magazines, and business broadcasts across the region.
Prior to his current role, Valecha enriched his professional background with over seven years of experience serving as a financial analyst with Edelweiss in India; Hira Global DMCC in Dubai; and later as a quant analyst at Rasmala Investment in Dubai International Financial Centre (DIFC), Dubai. His academic credentials include an engineering degree from Mumbai University and an MBA with a specialisation in Asset Management from IBM, both in India. Furthermore, he has earned the distinction of being a certified financial risk manager.
In his capacity at Century Financial, Valecha oversees the continuous monitoring and analysis of economic and market trends across a spectrum of global markets, including bonds, shares, commodities, and currencies. He is instrumental in the formulation of strategic trading initiatives and plays a key role in the educational journey of the firm’s clients. Through the regular publication of research reports, he provides insightful analysis on current financial and economic developments that hold the potential to affect both regional and international markets. By working closely with clients, he offers tailored guidance, helping them to navigate their risk and return expectations effectively.
Demystifying global financial markets
Located in Dubai, Century Financial stands as a leading hub for streamlined global investing, boasting over three decades of trailblasing in investment and trading innovation. Their mission is to demystify the global financial markets for both residents and the expatriate community, a commitment that has earned them numerous accolades as an outstanding financial service provider.
Operating with a license from the Securities and Commodities Authority of UAE (SCA), Century Financial provides an extensive array of offerings, including international market trading, over-the-counter derivatives, currency exchange, and in-depth financial analysis. They offer a diverse product range, including stocks, indices, forex pairs, commodities, and ETFs, all backed by live economic data from upwards of 30 countries.
Name: Vikas Chadha
Designation: CEO
Company: Jumbo Group
Industry: Retail
Established in 1974 by the late M. R. Chhabria, Jumbo Electronics started out initially as a family enterprise that has since evolved into a multifaceted conglomerate. Chadha, with over two decades of experience collaborating with multiple leading global technology firms, brings a wealth of leadership expertise in expanding and overseeing businesses across different sectors and regions, perfectly aligning with the group’s strategic goals.
Prior to his tenure at Jumbo, Chadha excelled in several executive positions at key multinational corporations, including Honeywell International, L&T, Sharp Corporation, and McKinsey & Co. Jumbo Distribution, one of the group’s key divisions, specialises in generating demand, managing the entire supply chain, and offering after-sales services for an array of distinguished international brands.
With its operations spread across the UAE and GCC countries for over four decades, Jumbo Electronics is dedicated to sustaining its leadership in the market while also aligning its endeavours with the UAE Vision 2030. The anticipated shift towards a more automated future, coupled with the fast-paced adoption of 5G and the Internet of Things (IoT), presents challenges, particularly in security, necessitating enhanced service quality.
At the forefront of innovation
Jumbo Enterprise, a division of the Jumbo Group since 2001, has rapidly climbed the ranks in the UAE’s IT solutions and managed services sector, impacting multiple industries including telecommunications, education, hospitality, banking, and healthcare. The company’s journey to prominence has been characterised by strategic partnerships with leading industry players, offering advanced IT solutions such as network integration, cybersecurity, hybrid IT, digital workplace solutions, and managed services. In response to the evolving digital environment, Jumbo Enterprise is expanding its service offerings to include cybersecurity and artificial intelligence integration, addressing the growing demand for these technologies.
The company has established partnerships with global technology leaders including HP, Lenovo, Microsoft, Intel, Aruba, Checkpoint, Fortinet, Nexthink, Hitachi Systems, SymphonyAI Summit, and Ricoh. Leveraging these relationships, Jumbo Enterprise offers a diverse range of services, from advisory consultations and solution design to implementation and managed services, catering to the needs of large and mid-sized businesses as well as government entities across the UAE. The company’s collaborative efforts with key organisations such as ADNOC EGA, DEWA, Alef Education, Federal Authority, Dubai Holding, Du, flydubai, Expo, ADNEC, ADCB, and Mediclinic, underscore its capacity to surpass client expectations consistently.
With a dedicated team of over 300 professionals, Jumbo Enterprise builds on the Jumbo Group’s legacy as a trusted IT distributor and retailer. This foundation supports the company’s ambitious expansion into managed services, network solutions, data centre services, security solutions, and end-user devices for enterprises.
Name: Vineet Budki
Designation: CEO and Managing Partner
Company: Cypher Capital
Industry: Fintech
Budki has become a prominent player in the global blockchain and cryptocurrency landscape, having led investments in over 100 blockchain start-ups, including well-known names like Casper Labs, Mysten Labs, Torus, and KILT. His expertise covers a wide range of domains such as Web 3.0, GameFi, DeFi, the metaverse, alongside investment and venture capital techniques tailored for blockchain start-up companies. He has shared his insights on venture capital in the blockchain space at several notable forums, including Token 2049 in Singapore; the World Economic Forum (WEF) in Davos; DCentral in Austin, Texas; Nearcon & Nearverse in Portugal; the Future Blockchain Summit and the Global Blockchain Congress in Dubai; and Blockchain Life in Moscow.
As the innovative founder of Cypher Capital, Budki leads investment efforts in businesses pioneering in blockchain protocol and infrastructure development. The firm”s investment purview includes a variety of blockchain solutions like exchanges, asset transfer protocols, stable coins, smart contract platforms, digital currencies, and utility tokens designed for growing sectors. With a significant $100 million venture capital fund earmarked for blockchain startups, Cypher Capital proactively supports unicorns in expanding their operations and teams globally.
By obtaining specialised legal advice, the company devises custom legal structures in compliance with current regulations to ensure smooth market entry in the MENA region. Cypher Capital goes beyond just investment, providing start-ups with extensive market access in the MENA region and creating vital partnerships with private and public sectors. This strategy promotes networking with other key entities in the MENA region, Turkey, and India, thus fostering a cooperative environment for blockchain innovation.
Shaping a sustainable legacy
Headquartered in the UAE, Cypher Capital is founded on the belief that investing in crypto mining is a progressive strategy. Prioritising ESG principles in all investment decisions, this approach aims to build a lasting, sustainable impact in the digital currency, public markets, and Web3 spheres. Cypher Capital boasts a remarkable 45 times return on capital across over 100 ventures, with investments ranging from $250,000 to $1 million and overseeing more than 45 assets. The company optimally positions itself to enhance returns and reduce risk in this rapidly growing asset category. The firm utilises an extensive array of financial tools, clear legal guidelines, thorough underwriting practices, and a methodical strategy to select successful projects and avoid fewer promising ones.
In January 2024, Cypher Capital co-led a strategic investment of $2.4 million in bitsCrunch, an international analytics company delivering multi-chain insights and forensic analysis for NFTs and digital assets. Supported by key entities such as Coinbase Ventures, Animoca Brands, Chainlink, Crypto.com Capital, Morningstar Ventures, Shima Capital, and including Cypher Capital, bitsCrunch leverages AI to operate a decentralised platform for NFT data. This platform empowers developers to create dependable NFT applications (dApps) and spearheads the advancement of crypto data forensics.
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 chemical 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 kt 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.
Name: Zulekha Daud
Designation: Founder and Chairperson
Company: Zulekha Healthcare Group
Industry: Healthcare
Dr. Daud, the first recognised Indian woman medical professional in the UAE, has committed herself to the well-being of both Emiratis and expatriates. In 1964, she earned her medical degree from the Government Medical College in Nagpur, India, followed by an appointment at Sharjah’s Kuwaiti Mission Hospital.
Establishing herself as a practicing physician, Daud, affectionately known as Mama Zulekha, launched her small clinic in Sharjah in 1965. Through years of hard work, Zulekha Hospital emerged in 1992, initially as a 30-bed facility providing essential services in gynaecology, obstetrics, surgery, medicine, and paediatrics. The success continued to grow, leading to the establishment of Zulekha Healthcare Group (ZHCG) in 2004. This expansion included a second hospital in Dubai, three medical centres, and pharmacies.
Today, Zulekha Healthcare Group has evolved into a comprehensive network with medical centres, super-speciality hospitals, educational institutes, and pharmacies in both the UAE and India. In 2012, Zulekha Hospital, Sharjah transformed into a full-fledged, multi-disciplinary hospital and diagnostic centre with extensive outpatient and inpatient facilities. The group further extended its reach internationally by announcing the Alexis multi-specialty hospital in Nagpur, India, in December 2016.
In addition to her significant contributions in the medical field, Daud is highly regarded for her CSR activities. Her involvement extends to backing educational and vocational training programmes specifically designed for women, spearheading initiatives aimed at providing access to clean drinking water, and leading public health awareness campaigns. Among the noteworthy campaigns she has championed are ‘Smear, Don’t Fear,’ which is focused on raising awareness about cervical cancer, and ‘Pink It Now,’ a campaign dedicated to advocating for breast cancer awareness.
About Zulekha Hospital
Zulekha Hospital has been widely recognised for its dedication to quality care and sustainable business practices. The hospital has been honoured with several prestigious awards, including the Dubai Quality Appreciation Award, the Dubai Quality Award, and the Mohammed Bin Rashid Al Maktoum Business Excellence Award. These accolades underscore the group’s unwavering commitment to delivering superior healthcare services to patients and contributing positively to the broader society.
In October 2023, over 15,000 women have availed the checks in 12 years at both Zulekha Hospital Dubai and Sharjah since the campaign first started. The ‘Pink It Now’ breast cancer awareness campaign invited women in the UAE to attend the free screenings and consultations in its hospitals. Each year, the initiative raises awareness about breast cancer, the importance of early detection and the benefit of regular check-ups.
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