The Gargash family commenced trading activities in Dubai in the last decade of the nineteenth century. However, it was in 1918 that the late Ali Haji Abdulla Awazi Gargash laid the foundation for what later emerged as a leading trading house in the region.
Today, the familys interests are widespread and impressive: in the automobile world, it is the sole agent for Mercedes Benz in Dubai, through Gargash Enterprises. The family is also involved in electronics, real estate, insurance, industrial development and construction.
One of the family, Shehab Gargash, also runs Daman Securities. Last month the company announced the launch of the Alf Yad fund, a new venture capital programme that plans to invest US$30 m into promising Arab companies over the next decade. If successful, it could prove one of the familys biggest money spinners to date.
Follow us on
