Rich List-Al Tayer Family
The family-owned Al Tayer Group is present in 12 countries and comprises more than 20 companies with a workforce of 5000. Founded in 1979, Al Tayer Group represents some of the world's most renowned brands in the automobile, fashion, jewellery, perfumes and cosmetics, as well as business and service sectors in the UAE.
Several retailing deals with fashion outlets have helped to nearly double this family's wealth over the last few years. Al Tayer has brought US clothing brands Gap and Banana Republic, as well as UK luxury department store Harvey Nichols, to shopping centres in the Middle East.
In September, Al Tayer Group announced a strategic partnership with Macy's to open the first two Bloomingdale's stores outside of the United States in The Dubai Mall.
The stores are scheduled to open in the first quarter of 2010. Al Tayer Motors, run by Saeed Humaid Al Tayer, was established in 1982 and now represents major European and American carmakers, including Land Rover, Jaguar, Ford, Lincoln and Ferrari.
Saeed Humaid also runs district cooling company, Empower, which is set to build the UAE's largest pipe factory. In a joint venture with Danish pre-insulated pipe manufacturer Logstor in which Empower will hold a 51 percent stake, the company, Empower Logstor will build pipes, and is expected to exceed over $1.5bn over the next five years.
Mattar Mohammed Al Tayer is the executive director of Dubai's RTA which runs the operations for the metro system, the trams, the buses, the road network and the marine side across Dubai. Another success story has been Obaid Humaid Al Tayer Engineering, which was formed in 1981.