Dubai is one of the greatest and strongest countries in the business world. But who are the minds behind such a success?
When you think of Dubai, what’s the first thing that comes to mind? Perhaps it’s the stunning architecture or the bustling city life. But beyond its iconic landmarks and vibrant atmosphere, Dubai offers a wealth of opportunities for entrepreneurs. With its strategic location, business-friendly environment, and diverse economy, Dubai has emerged as a hub for innovation and entrepreneurship. From tech startups to luxury brands, entrepreneurs from around the world are drawn to Dubai’s dynamic market and endless possibilities.
Here are 3 of the most famous and richest Emirati businessmen living in Dubai.
Mohamed Alabbar
The man behind the renowned marvels like the Burj Khalifa and The Dubai Mall, Mohamed Alabbar, is a brilliant entrepreneur. Establishing a new standard in residential development, he has a knack for building buildings of never-before-seen magnitude. He is the founder of Emaar Properties.
Not only is Mohamed Alabbar the chairman of Eagle Hills, a well-known real estate development company in Abu Dhabi, but he is also a leading real estate developer in Dubai with Emaar Properties. Some domestic success stories, like the booming internet marketplace Noon.com, are impacted by him as well.
Alabbar has completely changed the Middle East’s urban development scene with his unwavering dedication to quality and push for innovation. His innovative approach has revolutionized the worldwide real estate market by setting new standards for architectural creativity and economic expansion.
Mohamed Alabbar is making a lasting impact on the real estate development industry by leading by example and having a clear strategic goal. Alabbar’s contributions are still crucial to Dubai’s continuous development as it develops into a worldwide center of innovation and advancement.
Hussain Sajwani
Renowned business magnate Hussain Sajwani, the brains behind DAMAC Properties, is frequently referred to as the “Arab Trump.” Sajwani had a knack for real estate, which helped him stand out from the competition thanks to his creative marketing approach. Having gained notoriety in the market, he offered property buyers extravagant incentives such as Lamborghinis, BMWs, and jet skis.
Sajwani’s road to success was marked by desire and tenacity since he was raised in an entrepreneurial household. After being sent to the US for an elite education, he returned to Dubai well-versed and driven to succeed. Sajwani quickly broadened his horizons after beginning with a catering company that catered to esteemed customers like Bechtel.
A significant turning point was reached in 2001 when UAE legislation allowed foreigners to acquire real estate in Dubai. Sajwani changed his career by going into real estate after seeing an opportunity. He started DAMAC Properties in 2002 to change Dubai’s skyline. DAMAC got momentum immediately, selling out of its first property, Marina Terrace, in record time by implementing creative techniques including selling units before they were finished.
Ten years later, DAMAC Properties is one of the top development firms in the Middle East, with revenue reaching previously unheard-of levels. Forbes has named DAMAC as one of the fastest-growing businesses in the world. Hussain Sajwani’s vision, perseverance, and unshakable dedication to quality have contributed to DAMAC’s success.
Majid Al Futtaim
With a $6.2 billion net worth, Majid Al Futtaim became the richest person in Dubai, United Arab Emirates, in 2023, although he passed away in 2021. His influence extends across multiple industries as the chairman of the privately held Majid Al Futtaim Group, which has investments in real estate, entertainment, and automobile distribution.
Majid Al Futtaim has received multiple honors for his services to development, philanthropy, and entertainment throughout his remarkable career. Among these awards is the esteemed Arabian Business Awards Lifetime Achievement Award, which acknowledges his long-lasting influence on the business environment in the area.
His significance is further demonstrated by the World Economic Forum’s designation of him as a Young Global Leader, which is a testament to his innovative leadership and vision.
Majid Al Futtaim received these prestigious honors in addition to the Order of Zayed medal from the UAE President, which is evidence of his continuous commitment to the development and prosperity of the country.
Furthermore, Forbes Middle East named him “The Leader of Tomorrow,” noting his ability to influence business and society in the area and beyond, in recognition of his extraordinary potential. Majid Al Futtaim’s remarkable accomplishments and progressive endeavors have left a lasting impression on the global scene.
