Al Jabber is the Saudi tycoon who heads up the MBI International group of companies that between them are worth US$3bn. It is believed that his stake is around the 50% mark. What isnt in doubt is the success of MBI it now includes real estate giant Jadawel International, JJW Hotels & Resorts which operates 55 hotels in Europe and the Middle East and the AJWA Group, one of the largest food companies in the Middle East.
JJW Hotels posted a massive jump in turnover and profits last year, which it claims put it on target to join the worlds top luxury hoteliers. During 2005, turnover grew by 78% to US$153.9m and there was a steep jump in pre-tax profits to US$20m as the company reaped the benefits of expansion in recent years. The chains expansion is expected to continue this year, in particular in the UK, with US$257m earmarked for capital.
The golf-loving Sheikh Mohamed, also bought the UKs Scotsman Hotel Group last year, reportedly attracted by the Scotsmans upmarket quirky style. Around US$250m is believed to have been earmarked to bring a portfolio of intimate luxury hotels to key European cities, Mohamed Bin Issa Al Jabber would be even richer but for the cash he has given to various charities over the years. He has funded scholarship programmes at some of the worlds finest educational institutions.
The Founding Sponsor of London Middle East Institute at the London based School of African and Oriental Studies, he has also given a generous donation to a new building at the Jeddah-based Dar El Hekmah College, an English-language, private sector womens liberal arts college. He has also been a promoter of Arab-Israeli reconciliation, including through the Olive Tree Educational Trust at London University.
Follow us on
