Country: Saudi Arabia
Wealth: 1.98 Billion
Dr Fawaz Al Hokair, a graduate of Loughborough University in the UK, is chairman of the Fawaz Al Hokair Group and a retail magnate credited with changing the face of fashion in Saudi Arabia. Established in 1989, the group deploys more than 1,200 staff across 5 million sq ft of prime retail estate. Al Hokair is today the single largest owner and operator of shopping malls in the kingdom with 11 centres, including the vast Mall of Dhahran.
In total, Al Hokair now boasts more than 50 international fashion brands in 750 stores. Alhokair Fashion Retail also recently completed the acquisition of NESK Group of Trading Projects LLC, which operates world-class brands including Mango, Stradivarius, Okaidi and Woman’s Secret.