Now one of the UAE’s foremost business concerns, the Gargash family commenced trading activities in Dubai in the last decade of the 19th century. However, it was in 1918 that the late Ali Haji Abdulla Awazi Gargash laid the foundation for what later emerged as one of the region’s leading trading houses.
Today, the family’s 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.
Shehab Gargash has enjoyed particular success running Daman Investments. With Daman Securities listing on the DIFX this year, Daman Investments also revealed that three of its funds posted solid gains during October, on the back of both the Dubai Financial Market and the Abu Dhabi Securities Market advancing more than 20%. The Daman Second Emirates Fund increased in value by 12.8%, while the Daman Islamic Fund lifted by 6.8% and the Daman Arabian Programmed Trading Fund climbed 5.8%.
All of this points to yet another success story for the Gargash family.
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