Alubond suffered a blow in 2016 when it temporarily halted production of its panels following a high-profile fire at The Address Downtown Dubai on December 31, 2015. The building’s exterior was made from Alubond cladding. However, the company moved quickly to introduce a fire-resistant version, produced at its facility in Turkey, and has since signed a deal to set up three new production plants at a $50m new facility in Sharjah, intended to be the world’s largest single location for ‘A2’ fire-resistant panels.

Parent company Mulk Holdings has other diverse business interests including healthcare, real estate, trading and commodities, as well as aluminium coil coatings, solar energy and energy generation. It employs 7,000 people across Europe, the US, Russia, India, Pakistan and the Middle East.

Founder Shaji Ul Mulk told Arabian Business he aims to transform the company into one of the most sustainable firms in the world. It is also expanding aggressively, he says, with new investments being made in an ultra-modern paint manufacturing facility in the UAE; a $20m manufacturing plant in Serbia; expansion of the plastic division, Metal Plast; and participation in the Indian government’s Make in India programme to encourage multinational and local companies to manufacture their products in India.

Ul Mulk is a keen cricket promoter and the only Indian member on the Emirates Cricket Board.

He hails from the aristocratic family of Nawabs of Kurnool, a district in the Indian state of Andhra Pradesh. The family claims to have about $700m worth of land and assets in India.