Al Jabber is the Saudi tycoon who heads up the MBI International group of companies that between them are worth US$4.8bn. It is believed that his stake is around the 50% mark. He is one of Saudi Arabia’s most respected businessmen, and not just for his ability to make money. He was one of the few to predict the collapse of the region’s stock markets in 2006, and his sage advice is sought by investors and government officials all over the Middle East.
What isn’t in doubt is the success of MBI. It now includes real estate giant Jadawel International, JJW Hotels & Resorts – which operates 75 hotels in Europe and the Middle East – and the AJWA Group, one of the largest food companies in the Middle East.
Both Jadawel and Ajwa remain profitable companies, but Al Jabber’s interests seem to be gravitating more towards his hotel portfolio. He started by acquiring four hotels in France in 1988, and quickly extended his collection to 36 in France and 75 worldwide. He spends 80% of his time in Europe overseeing his hotels – based out of a truly lush Parisian mansion, and he is looking for further expansion in the US and Europe. MBI is achieving rapid growth by focusing on acquisitions in Europe and new construction in the Middle East. He also took a major share in fellow Saudi billionaire Prince Alwaleed bin Talal’s Kingdom Hotel Investment Group (KHI), which comprises 13 hotels managed by Four Seasons and Mövenpick.
Mohammed bin Issa Al Jabber is also well-known for his philanthropy – he would undoubtedly be richer but for the cash he has given to various charities over the years. He has funded scholarship programmes at some of the world’s 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 women’s liberal arts college. He has also been a promoter of Arab-Israeli reconciliation, including through the Olive Tree Educational Trust at London University.
This should be a big year for MBI, as it is preparing for a listing (either on the LSE or in New York), and should be a stellar year for his European hotel operations. Keep a lookout for a significant jump in his assets in 2008.
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