Thu 17 Dec 2009 05:32 AM
The Galadari Family
43

The Galadari Family

Industry: Retail

Company: Ilyas and Mustafa Galadari Group

Country: United Arab Emirates

Wealth: 2 Billion

Fuelled initially by the entrepreneurial vision of the late Abdul Rahim E Galadari, the late Abdul Latif E Galadari, and the late Abdul Wahab E Galadari in the early 1960s, as Galadari Brothers Group, the next generation created a new wave of companies. It was from this generation that another three brothers created the Ilyas & Mustafa Galadari Group, started by Ilyas & Mustafa Galadari, as well as Galadari Investment Office, formed by their younger brother Rashid AW Galadari.

The Galadari's wealth is largely invested in real estate, including City of Arabia, a 20 million sq ft plot on the Emirates Road. The land is earmarked for the Mall of Arabia, a project that will see the Galadaris build the largest and most expensive mall in the world.

The brothers' other assets include manufacturing concerns, a major taxi firm, a driving school, restaurants, hotels, and Sunseeker Yachts Middle East.

Finally, Rashid AW Galadari's GIO holding group - which has designs on becoming "the world's pre-eminent luxury holding company" - has a global licence to develop real estate and hospitality projects in a joint venture with Gianfranco Ferre, the Italian couture fashion house.