Welcome to the Indian Aces section of our magazine, where we showcase the most influential and respected Indian businesspeople operating in the Middle East. With a long history of trade and cultural exchange between India and the Middle East, it is no surprise that Indian entrepreneurs and executives have played a significant role in the region’s economy.
In this section, we feature a diverse group of Indian business leaders who have made their mark in sectors ranging from finance and real estate to healthcare and technology. We hope that our readers will find inspiration in the stories of these accomplished individuals, and gain a deeper appreciation for the important role that Indian businesspeople continue to play in the Middle East.
No list could truly be exhaustive in measuring the role that NRIs have had in the Arabian Gulf, with the deep trade links between the region and India leading to a long cultural and economic exchange. For every individual featured in this list, there are countless others who could also have been featured.
The Indian Aces list represents a unique opportunity to recognise the contributions of Indian business leaders to the development and growth of the Middle East’s economy. These individuals have not only achieved success in their respective fields but have also demonstrated a commitment to social responsibility, sustainability, and community engagement.
Through their innovative approaches, leadership, and entrepreneurial spirit, they have contributed to building bridges between India and the Middle East, forging strong partnerships and collaborations that benefit both regions. We are proud to feature these outstanding individuals in our magazine, and we hope that their stories will serve as an inspiration to the next generation of Indian business leaders operating in the Middle East.
RANK: 1
NAME: Yusuffali MA
COMPANY: LuLu Group
DESIGNATION: Chairman and managing director
INDUSTRY: Retail
Ali has driven the Group’s ambitious growth to transform it into one of the most successful corporates with an annual turnover of $8bn globally. Headquartered in Abu Dhabi with its 60,000 plus strong workforce from 42 different nations, LuLu has diversified into multiple areas with retail at the forefront. A momentous highlight for Ali was his election as the director board member of the Abu Dhabi Chamber of Commerce & Industry (ADCCI) by the UAE business community, the first time that elections were held for the ADCCI, and the first time an expatriate was elected to the Director Board.
He was also unanimously elected by the board members as the vice-chairman of the prestigious Trade Committee of the ADCCI, followed by his appointment in 2021 as ADCCI’s second vice chairman, making him the only non-Arab to be in the director board of ADCCI four consecutive times.
Just last month, Lulu Group has further expanded its presence in the Eastern Region by opening its latest hypermarket in Saudi Arabia. The hypermarket, which is also 30th in the kingdom, was inaugurated by Hamad Bin Mohammed AlbuAli, Vice President of the Chamber of Commerce Eastern Province in the presence of Ali and other dignitaries.
The 100,000 sq ft single level hypermarket is located in Al Rakkah district and showcase abundant range of fresh fruits, vegetables, meat and seafood from around the world, an in-house bakery to serve up fresh-baked breads and cakes, as well as shopping options that tap into new award-winning trends. These include a wide selection of plant-based meat substitutes and foods, a special organic and superfood selections and an extensive ‘free-from’ range varieties.
A special feature will be the unique emphasis on food products grown and produced in Saudi Arabia – farmed fish, the best cuts of locally slaughtered lamb and beef in the meat section, Saudi coffee, Saudi-grown fruits and vegetables and also delicacies made in Saudi Arabia.
“We are proud to see yet another great retail addition to our growing circle of iconic stores which is a testimony to the fact that the LuLu Group has continued to expand and invest in the kingdom even through the challenging pandemic months”
Yusuffali MA
RANK: 2
NAME: LT Pagarani
COMPANY: Choithrams
DESIGNATION: Chairman
INDUSTRY: Retail
Founded by Thakurdas Choithram Pagarani in West Africa in 1944, his son LT Pagarani is the force behind its transformation, particularly in the GCC region, where four outlets have recently launched in Dubai and Abu Dhabi. With a foothold for over seven decades in 25 countries, he has steered the expansion of Choithrams into Oman, Bahrain, and Qatar.
Also, Choithrams continues to work with Dubai Municipality as part of its integrated strategy to reduce food waste and to recycle food waste. Aligned with the Dubai Clean Energy Strategy 2050 which strives to make Dubai a global centre of a green economy and clean energy, Choithrams is on-board to help make it a reality. With the installation of a solar plant by SirajPower, the UAE’s leading solar energy provider in the region, its distribution operations and food production warehouses in Dubai’s Al Quoz district are powered by 100 percent renewable energy.
Choithrams’ UAE distribution expertise spans over four decades, and its long-standing relationships with partners are testament to the retailer’s success in the UAE. The company’s multiple distribution centres across the Emirates helps it optimise on cost efficiencies, and its coverage of over 18,000 outlets across all channels strengthens the company’s position in the industry.
Over three decades of local experience has earned Choitrams a position amongst the top FMCG trade partners in Oman, giving the company access to preferential trading terms. Its portfolio comprises of many power brands with established category leadership including Rainbow, Coca-Cola, and Betty Crocker.
RANK: 3
NAME: Adnan Chilwan
COMPANY: Dubai Islamic Bank
DESIGNATION: Group CEO
INDUSTRY: Banking
A recognised expert in Islamic banking and finance, Chilwan is a key figure in the growth and progression of the sector backed by an extensive banking career that spans over two decades.
Establishing Islamic banking and finance as a global norm rather than being considered an alternative, he steered the growth of Islamic finance as DIB became a member of UAE Trade Connect, a commercialised blockchain platform co-created by Etisalat Digital, Avanza Innovations, and multiple banks in the UAE in February 2022.
Previously, he also held the role of the president commissioner at PT Bank Panin Dubai Syariah TBK. In 2022, DIB became the first Islamic bank in the UAE to go live with the Arab Monetary Fund’s Buna system, the regional cross-border payment platform which will enable financial institutions and central banks to receive and send cross-border multicurrency payments in a transparent and cost-effective manner.
Last month, DIB has successfully priced its second Sustainable Sukuk – a landmark $1bn 5.5-year senior issue with a profit rate of 4.80 percent per annum, representing a spread of 102.4 bps over 5-Year US Treasuries.
The Sukuk was issued in line with DIB’s Sustainable Finance Framework, which was created to facilitate financing of green and social initiatives and projects.
This deal achieved several landmarks including the largest issuance by a Middle East financial institution in the international capital markets since June 2021 and the largest-ever sustainable issuance by a Middle East financial organisation.
RANK: 4
NAME: Adeeb Ahamed
COMPANY: LuLu Financial Holdings
DESIGNATION: Managing director
INDUSTRY: Finance
A multitalented entrepreneur helming multiple companies across the financial services, and hospitality segments, Ahamed forayed onto his entrepreneurial journey in 2009 when he founded LuLu Financial Holdings – a financial services conglomerate whose investments serve banking institutions, business houses, local and international corporations as well as individuals.
Today, Ahamed has managed to take the company from strength to strength with key physical and digital investments in 10 countries across the Middle East, Indian sub-continent, and APAC regions, operating over 260 branches and processing nearly $10bn transactions annually.
The company’s newly formed NBFC division in India, LuLu Finserv, offers an array of lending schemes and services with a vision to disrupt the growing microfinance sector.
Ahamed’s business acumen hasn’t gone unnoticed, and he today holds positions on the senior advisory board of the South Asia Regional Strategy Group (RSG) at the World Economic Forum (WEF), as well as the World Tourism Forum Lucerne and the Al Maryah Community Bank in the UAE. He is also the founding member of the UAE-India Business Council (UIBC) – UAE chapter.
Highly inspired by the quote, “Educate a boy, and you educate an individual. Educate a girl, and you educate a community”, Ahamed prioritises public service activities that particularly focuses on girls’ education and women empowerment as well as supports health related initiatives that give back to the elderly and differently abled people in need.
Ahamed is also the owner of several iconic hotels around the world, including the Great Scotland Yard in London, Waldorf Astoria in Edinburgh, Pullman Downtown Dubai, Sheraton Oman and Port Muziris Kochi. These hotels are owned under his hospitality investment company, Twenty14 Holdings. Founded in 2014, the company has invested nearly $1bn to build an asset portfolio of properties spread across the UK, Europe, GCC, and India.
“As India navigates a period of global economic shocks, the country’s economic resilience has managed to hold steady. Youth and MSMEs, two foundational strengths of the country have been part of this growth story”
Adeeb Ahamed
RANK: 5
NAME: Sunil Kaushal
COMPANY: Standard Chartered Africa and Middle East (AME)
DESIGNATION: CEO
INDUSTRY: Banking
In addition to his current role, Kaushal is also a member of Standard Chartered’s global management team, the highest executive body within the bank. With approximately 34 years of banking experience in diverse markets across North Asia, Southeast Asia, South Asia, and the MENA region, Kaushal’s wealth of banking experience has steered him to helm senior roles across wholesale, retail, and SME banking over his 24 years with the group.
Prior to this, Kaushal held the role of the regional CEO of Standard Chartered South Asia and CEO India. Outside of the Standard Chartered Bank, he has served as the head of Corporate Banking in UAE; head of Originations and Client Coverage in Singapore; global head Small and Medium Enterprises and New Ventures in Singapore; and the CEO of Standard Chartered Bank (Taiwan).
Prior to joining Standard Chartered in 1998, Kaushal held various positions in investment banking, corporate finance and commercial banking and foreign exchange at NatWest Markets, SocGen-Crosby, and American Express Bank in Mumbai, India.
Steering the success and the acceleration of Standard Chartered’s digital transformation in the AME region, Kaushal backed the launch of digital banks across nine key markets across Africa. The bank also digitised its wealth management offering and has grown accounts by around 700,000.
The successful establishment of these digital banks through his visionary leadership have served as a testament to the bank’s growing digital footprint in the region and a robust presence as a leader in digital banking technologies. In March 2021, Kaushal joined MoneyTap, one of the leading Fintech companies in India, as a Global Advisor.
With a Bachelor of Commerce Degree from Bombay University, India, Kaushal also earned his postgraduate qualification as a Chartered Accountant from the Institute of Chartered Accountants of India. To enrich his educational qualifications, he has also completed general management courses at Harvard Business School, INSEAD, Oxford University, and London Business School.
We remain committed to investing in our differentiated international network, our affluent client business and market-leading digitisation initiatives to help our clients achieve prosperity, as we continuously aim to be an industry leader across the region
Sunil Kaushal
RANK: 6
NAME: Suresh Vaidhyanathan
COMPANY: Ghassan Aboud Group
DESIGNATION: Group CEO
INDUSTRY: Diversified
Instrumental in key strategic roles with the region’s foremost business conglomerates for over two decades, Vaidhyanathan is an accomplished business leader with a wealth of experience spanning over multiple countries in the MENA region across multiple business sectors.
In his current role, he steers the growth across a diverse portfolio of businesses which include healthcare, retail, food, automotive, logistics, eB2B digital platforms, and hospitality. Notably, the group is engaged in two strategic public-private partnerships with the Abu Dhabi Ports Group in establishing the Abu Dhabi Food Hub – KEZAD and the Global Auto Hub.
He also leads the group’s digital transformation foray with the launch of B2B digital platforms – BuyGro and BuyParts24 and other upcoming transformative projects.
The group’s award winning hospitality brand Crystalbrook Collection has made a mark for itself in the Australian market, themed on sustainability. Grandiose supermarket is undergoing rapid expansion as a premium retail brand in the UAE with an emphasis on food and unmatched customer experience. The group is also a market leader in the automotive value chain with a reach of more than 100 countries.
RANK: 7
NAME: Shamsheer Vayalil
COMPANY: Burjeel Holdings
DESIGNATION: Founder and chairman
INDUSTRY: Healthcare
A trained radiologist who aspired to work on developing medical facilities and enhancing the quality of healthcare in the Middle East, Dr Vayalil launched VPS Healthcare in 2007 backed by a vision to deliver affordable, accessible healthcare services to individuals in need.
In just over a decade, VPS Healthcare has transformed into an integrated healthcare network with a presence in the GCC region, India, and Europe with 22 operational hospitals, around 13,000 employees, and over 125 medical centres.
In May 2022, VPS Healthcare consolidated its GCC assets under a new holding company, Burjeel Holdings, which will operate around 60 assets across a range of brands. This makes it one of the largest integrated health networks in the region and will cater to all brackets across diverse levels of socio-economic segments across a range of brands, just some of which include Tajmeel, Medeor Hospital, Burjeel Hospitals, Lifecare Hospital, and LLH Hospital.
At the eighth edition of the World Government Summit at Expo 2020 Dubai, which aims to reinforce the UAE’s capabilities as a regional knowledge hub as well as focus on developing its healthcare and other core sectors, VPS Healthcare is the Healthcare Partner.
Also eyeing medical education with the recent collaboration with Cumming School of Medicine of the University of Calgary, Canada, VPS Healthcare is now expanding into medical education, training, and research as the first time the university will be offering its three-year MD programme will be offered outside of Canada and the US with VPS hospitals guaranteeing residencies at its multiple hospitals.
RANK: 8
NAME: Kabir Mulchandani
COMPANY: FIVE Global Holdings
DESIGNATION: Founder and chairman
INDUSTRY: Hospitality
Known in the industry as a market disruptor and a market leader, real estate developer Mulchandani is the force behind the FIVE Hotels & Resorts in Dubai, a hotspot for millennials seeking award-winning experiential lifestyle experiences amidst Dubai’s burgeoning hospitality landscape.
Always a digital-first brand, FIVE Hotels and Resorts enjoys over 54 percent of all its bookings coming in directly through FIVE’s very own proprietary website/reservations teams.
FIVE Hotels and Resorts has established itself as the ultimate party and lifestyle destinations in Dubai and successfully welcomed over five million guests of over 192 nationalities to FIVE’s award-winning, entertainment-driven venues and over 4550 musically driven events with over 476 top DJs, since inception.
This year, FIVE Palm Jumeirah and FIVE Jumeirah Village have consistently ranked number one in their respective STR comp-set.
FIVE Jumeirah Village is the most reviewed hotel on Booking.com with over 36,000 reviews and a rating of 9/10. FIVE Hotels and Resorts is also 510 percent more searched for on Google than other comparative hotels such as W, Ritz Carlton, Mandarin Oriental and Four Seasons and enjoys a widespread engaged community of over 909,000 followers across all of its social media platforms.
Significantly, FIVE was able to impressively maintain its EBITDA from 2019 to 2020, despite the challenging environment.
RANK: 9
NAME: Dr Sanjay Parashar
COMPANY: Cocoona Clinics
DESIGNATION: Chairman
INDUSTRY: Healthcare
Embarking upon his career in India, Dr Parashar worked in multiple medical institutes in Nagpur, Delhi, and Mumbai. After attaining a Master’s degree in general surgery, he opted to specialise in the field of plastic surgery.
Endowed with several skills including sculpting, art, and ambidexterity, he travelled globally to work in leading institutes in the US, South Korea, Bahrain, and Australia. He also worked with globally renowned plastic surgeons, including Prof. David, Dr. Tony Moore, Prof. Lan Jackson, to name a few, Dr Parashar has further learned and refined his skills across laser surgery, craniofacial surgery, and aesthetic surgery.
And now backed by over three decades of experience, he is one of the busiest surgeons in Dubai and in the region who is known for the lowest possible complications and most importantly, gifted with the art of wound-healing.
Since his arrival to Dubai in 2005, he has harboured a dream to make Dubai the Beverly Hills of the Middle East. He has authored two books, contributed in a few and written a host of medical papers. To date, he has performed over 15,000 surgeries.
Dr Parashar chairs the scientific committee of Emirates Plastic Surgery society; is the National Secretary of International Society of Aesthetic Plastic Surgery (ISAPS); and is also the president of FUE Asia.
Other key achievements include helming Beverly Hills Plastic Surgeons by Cocoona, a medical software and IT Company, as well as managing a premium skin-care range under the brand, SkinbyCocoona, in addition to a ladies Salon, Salon 900 by Cocoona.
RANK: 10
NAME: Prashant Goenka
COMPANY: Emami
DESIGNATION: Director
INDUSTRY: Retail
Steering the success of Emami and transforming it into one of India’s fastest growing healthcare and personal care companies in the international markets, Prashant is driven by a vision to amplify safe and natural personal care brands.
Today, Emami boasts an enviable portfolio of over 300 products under many brands like Creme21, Navratna, Kesh King, 7 Oils in One, Boroplus, Smart & Handsome, Zandu etc. The company has established a reputation for creating product categories from scratch and carving out a disproportionate share of those categories in the personal care and healthcare segments.
With current international operations spanning over 65 countries, headquartered in UAE, Prashant has spearheaded the business, turbocharged growth and constantly focused on innovation in Middle East, Russia, South East Asia. Under his leadership, Emami has established its offices and manufacturing in multiple international locations.
Multiplying the organisation’s revenues by multiple-fold, Prashant led the acquisition of the iconic German brand previously owned by Henkel, Creme21, with a high equity in the skincare industry for over 50 years. More importantly, it was Prashant’s longstanding pledge to champion inclusion and diversity and to also adapt to international culture.
Delivering extraordinary results, Prashant is a resourceful solutions provider, brave and displaying passion and integrity in the building of successful brands within the global marketplace. Prashant is active across key chambers and professional organisations and ex city chapter chair of the Young President Organisation; YPO.
As one of the successful Indian business leaders in this part of the world, he believes the best is yet to come. He lives by the mantra of dreaming big, continuous learning and constantly moving forward. In that process, he acknowledges it’s alright to fail, but rise up with such a spring and an attitude that tomorrow is ours to win.
“We treaded beyond our comfort zone to be fearless and take larger strides whilst aligned to our corporate goals”
Prashant Goenka
RANK: 11
NAME: Sunil John
COMPANY: ASDA’A BCW Middle East
DESIGNATION: President
INDUSTRY: Media
At the heart of the media and communications business in the Middle East for over 25 years, John has led ASDA’A to become the benchmark PR consultancy in the Arab world. In 2008, after WPP Group acquired a majority stake, he relaunched the firm as ASDA’A BCW.
During the pandemic, he steered the firm through a strategic reset to make ASDA’A BCW and its offerings agile and relevant to the changed landscape. He also spearheaded the annual ASDA’A BCW Arab Youth Survey in 2008 which went on to become globally recognised, widely cited pieces of public opinion research by media and policymakers. He has embraced a digital-first mind-set while delivering integrated and creative communications through ASDA’A BCW’s Power of Three.
This includes the seamless integration of data and digital into PR through two fully owned subsidiaries, namely, PSB Middle East for research and Proof Communications for digital, social and design. The agency’s public affairs team has helped in shaping public policy at both the national and regional levels by offering counsel across a diverse range of issues that impact both the business environment and the public good.
And December 2022 marked a triumphant moment for the Group when ASDA’A BCW made history in the PR and marketing space by winning the Best Agency-UAE and the Best PR/Communications Agency of the Year awards at the Campaign Agency of the Year Middle East awards.
The accolades celebrate the best in creatives, agencies, digital, integrated marketing agencies, events and experiential, and media buying agencies.
RANK: 12
NAME: PNC Menon
COMPANY: Sobha
DESIGNATION: Founder and chairman
INDUSTRY: Construction
After making a formidable mark in the interior design industry in Kerala, Menon arrived in Oman at age 26 to set up his venture. Over time, he helmed multiple interiors contracts, including the sultanate’s famed Qaboos Grand Mosque. As he gained traction in the Gulf region, Menon entered India’s property sector in 1995 by launching Sobha which transformed into one of India’s largest real estate companies.
In 2003, Menon moved to Dubai and founded Sobha Group which primarily focuses on luxury residential and commercial projects. The company’s first signature residential project, the S tower on Sheikh Zayed Road will offer luxury amenities and innovative smart living features.
Currently, Menon is steering two of Dubai’s key projects, namely Sobha Hartland, the $10bn Mohammed Bin Rashid District One development luxury freehold master development scheduled for completion by 2025, and Sobha Hartland 2 for completion at a later date.
On 21 February 2023, Sobha inked a major deal with DMCC, the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise, to develop Verde by Sobha, its first project in the Jumeirah Lakes Towers (JLT) district. Set to complement the district’s luxury residential offering, the project is expected to exhibit Sobha Realty’s signature style and sophistication.
The company’s unique ‘Backward Integration’ model which leverages the full suite of Sobha’s talent from design to development will further benefit the new project. The new luxury development will comprise 58 floors, seven podiums with one to three-bedroom apartments.
RANK: 13
NAME: Yogesh Mehta
COMPANY: Petrochem Middle East
DESIGNATION: CEO
INDUSTRY: Energy
Driven by passion and a need to succeed, Yogesh Mehta established the brand in 1995 at age 35 which today, is considered one of the best in the chemical industry. With an annual turnover in excess of $2bn, Petrochem is the largest chemical distributor in the Middle East and the 12th largest distributor in the world.
Apart from their state-of-the-art tank farm in Jebel Ali Free Zone in the UAE, the company also has two large bulk chemical storage terminals in Egypt (Adabiya and Port Said) that can store more than 55 kt of various chemicals and a drumming and logistics facility in KSA which has not only expanded their portfolio, but has created economies of scale.
Petrochem distributes chemicals across pharmaceutical, oilfield, and paint, coating, printing and packaging industries, in more than 32 countries. Under his leadership, Petrochem Middle East has now expanded into chemical trading, tank leasing and logistics.
With new expansion plans already underway, Petrochem is newly tripling its chemical storage and distribution capacity with stainless steel tanks with manufacturing and blending capability in Jebel Ali investing more than $95m to committing to sustainable development in UAE.
Construction of this large bulk storage terminal has already started a few months ago to complete in late 2025. Petrochem have offices in China, Singapore, Taiwan, London, Egypt, and India with their corporate head office in Dubai.
Mehta earned his Bachelor of Science degree in Chemistry from Mumbai; India and his first job was at his father’s chemical manufacturing factory in western India. It was here that Mehta honed his innate leadership skills and gained valuable hands-on business experience. He then went on to open his own chemical trading business, which enjoyed limited success.
Mehta is a Harvard Business School Alumni and a trustee board member of GSN, Global Sustainability Network, supporting human rights and abolition of child slavery. He is also the vice chairman and Trustee of the iconic BAPS Temple being built in Abu Dhabi and a board member of the Education for Employment ( EFE) Middle East chapter. Mehta’s contribution to the Dubai music and culture and arts is legendary and has promoted several events regularly.
“When I was contemplating a career change in my life, many people said that Dubai is a land of opportunity. I came to try my luck here, but I did not know the massive growth potential that was waiting for me”
Yogesh Mehta
RANK: 14
NAME: Sunny Varkey
COMPANY: GEMS Education Group
DESIGNATION: Founder and executive chairman
INDUSTRY: Education
Dubai’s education pioneer who has established a global education empire, under Varkey’s leadership, GEMS now owns and operates over sixty schools in the MENA region alone. Today, the Group is the largest non-governmental operator of private K-12 schools in the world, boasting around 140,000 students from 175 countries.
Born in Kerala, the family moved to Dubai in 1959, and at age four, Varkey moved home to attend boarding school. He returned to Dubai in 1970, by which time his parents had already launched ‘Our Own English High School.’ He took over the school in 1980 and since then, has never looked back. He established the Varkey Foundation which supports the $1m Global Teacher Prize, widely recognised as the most prestigious prize in education. As a UNESCO Goodwill Ambassador, Varkey has signed up to The Giving Pledge, which pledged half of his wealth to charity.
Many GEMS schools have partnered with EduCCate Global to strive toward reducing their environmental impact systematically. The Westminster School in Dubai was the Middle East’s first Centre of Excellence in Sustainability and Climate Change Learning and is the largest school in the world to have attained this ranking.
The students at another GEMS school, FirstPoint School-The Villa, spent one year working with Siemens-certified energy engineers to survey their school to strategise a solution to boost energy efficiency. During the year-long internship offered to students in Year 12, they managed assets counting and site walks, and installed instruments and analysed energy consumption.
RANK: 15
NAME: Aloki Batra
COMPANY: FIVE Hotels and Resorts
DESIGNATION: CEO
INDUSTRY: Hospitality
A leading tour de force at FIVE Hospitality, Batra’s ethos at FIVE Hotels and Resorts reflects an ecosystem with high quality property hardware and cutting-edge experiential software, enabling the brand to drive high performance for both customer satisfaction scores and revenue records, and has consistently outperformed competitors. In his current role, Aloki is credited for rapidly selling out FIVE Palm Jumeirah’s Luxury Residences for $400m.
He is the creative genius behind hugely successful home-grown concepts such as Dubai’s iconic rooftop destination, The Penthouse, FIVE’s signature Italian, Cinque and MSG-free, gourmet Chinese, Maiden Shanghai at FIVE Palm Jumeirah along with immersive street-food dining experience, Soul St. and Jumeirah Village Circle’s first ever nightclub, The Mansion at FIVE Jumeirah Village.
FIVE Hotels and Resorts now welcomes a new and exciting chapter with the FIVE ‘COME PLAY’ logo and tag line, ‘COME PLAY’ reaffirms FIVE’s premier position as an immersive 360-degree luxury lifestyle entertainment destination like no other, inviting ‘FIVERs’ from across the globe to Come Play. Batra lays emphasis on creating bespoke ‘Vibe at FIVE’ experiences for FIVE’s guests which compete successfully against stand-alone F&B venues and hotels, and nightlife destinations; all under one roof.
FIVE’s guest base is primarily made up of the digitally savvy, modern hospitality customer, therefore, Batra identified the importance of focusing on FIVE’s digital-first strategy. FIVE’s constantly evolving digital presence that showcases FIVE’s complete experiential offerings.
RANK: 16
NAME: Rizwan Sajan
COMPANY: Danube Group
DESIGNATION: Founder and chairman
INDUSTRY: Construction
Filling the gap for affordable housing in the UAE, Sajan’s entrepreneurial journey was initiated when he established a brokerage business with buying and selling building materials for the hundreds of projects during the Dubai construction boom. Soon after saw the launch of Danube Properties, a development company whose first Dreamz by Danube scheme in 2014 sold out within hours of its launch.
Next, Sajan launched the trio Glamz, Starz and Miraclz in 2016. And now, Danube Properties has forayed into the high-end real estate development market with Viewz, a set of twin high-rise towers with apartments and Sky Villas. Launched in partnership with Jumeirah Lakes Towers (JLT) master developer, DMCC, the project will feature Aston Martin furnished amenities and interior common areas. Viewz will be developed within Cluster K and not only is Danube Properties first project in JLT but is also the Group’s first luxury property project.
As part of the group’s Corporate Social Responsibility (CSR) drive, Sajan set up the Danube Welfare Centre in November 2015 to give back to society and help foster a positive transformation in the lives of labourers in Dubai.
A non-profit social organisation licensed by the UAE’s Community Development Authority, The Danube Welfare Centre provides a wide range of free training courses to help unskilled workers boost their language skills and thereby, helping them to further develop their careers. The initiative offers a three-month basic English programme that enables the workers to improve their communication skills, works on personality development and grooming.
RANK: 17
NAME: Ashish Panjabi
COMPANY: Jacky’s Group
DESIGNATION: COO
INDUSTRY: Retail
An entrepreneur at heart who is passionate about technology, Panjabi was initially involved in the finance side of the business but assumed responsibility in his family-run business in 2004 with involvement in the e-business aspects.
He launched the first e-commerce electronics website in the UAE in the year 2000 followed by his role as COO of Jacky’s Business Solutions, a company focused on selling B2B solutions across diverse realms, including digital fabrication, manufacturing solutions, humanoid robots for commercial and educational applications, Samsung B2B solutions, classroom, and STEM solutions, and more.
He also holds the position of COO of Jacky’s Retail LLC since 2014 where he is responsible for running a dedicated chain of brand shops for Samsung, with stores located across the UAE.
Based in Dubai, the group spearheads five subsidiaries, which include Jacky’s Electronics, Jacky’s Middle East, Jacky’s Business Solutions, Jacky’s Gulf, and Jacky’s Logistics Worldwide (JLC) LLC, which was established as an independent entity in 2005.
Offering professional logistics support to the Group’s in-house operations in addition to serving third party logistics requirements, JLC operates a 10,300 sq m warehouse in Jebel Ali Free Zone (JAFZA) with a capacity of 21,000 pallet positions and bulk storage area; and in Al Aweer, Dubai, a storage facility for containers.
With 10 loading and unloading bays, the storage areas are both ambient and temperature-controlled as well as fully racked and CCTV-monitored.
RANK: 18
NAME: Faizal Kottikollon
COMPANY: KEF Holdings
DESIGNATION: Founder and chairman
INDUSTRY: Construction
Hailing from a family of Kerala-based industrialists, Kottikollon forayed initially into the oil and gas sector with the launch of Sharjah-based foundry Emirates Techno Casting LLC in 1997.
An integrated facility incorporating cutting-edge engineering and design lab, Emirates Techno Casting boasts the world’s largest automatic moulding line, steel refining furnace, machine shop and research and development lab, and was rated amongst the top technologically advanced foundries in the world.
In 2012 Tyco International, bought the business for $400m, becoming the impetus for the launch of KEF Holdings’ two new verticals; KEF Investments and KEF Infra, one of the world’s largest fully integrated offsite infra manufacturing facility.
The firm specialises in offsite manufacturing technology in several industries, including healthcare, education, sports, and agriculture. Kottikollon is set to launch its first ever Tulah property, their new clinical wellness brand, in Kerala, India. The planned 30-acre facility will provide a holistic healthcare programme integrating fitness, clinical wellness, spa services, wellness education and more.
Medical expertise will be provided by from Meitra, KEF’s flagship hospital underpinned by traditional Ayurvedic practices, Tibetan medical rituals, a holistic living academy, and more. Built in a phased approach with a projected launch in March 2024, the resort will feature 130 rooms upon completion.
With Kottikollon’s aspiration to maintain the group as a social-enterprise, along with his wife Shabana, they set up the Faizal & Shabana Foundation which was founded in 2007 with over $20m invested across over 25 initiatives.
RANK: 19
NAME: Tony Jashanmal
COMPANY: Jashanmal
DESIGNATION: Group president
INDUSTRY: Retail
Born in Kuwait and educated in India and Switzerland, Jashanmal joined the Group in 1973 as managing director of the Kuwait operations. He established several new businesses, rebuilt the Kuwait operations following the first Gulf War, drove the Group’s expansion into India, and established many joint ventures.
A household name since 1919, Jashanmal has been a partner for international companies seeking to do business in the GCC region across fashion, footwear, home appliances, travel gear and publishing companies. With around 110 brands, 30 of which are exclusive to the region, Jashanmal is perpetually striving to cater to the ever-changing styles and demands of loyal customers while staying true to value.
With retail operations that span over 150 stores in the UAE, Kuwait, Bahrain and Oman, and India, their distribution network includes over 1,000 points of sale. Headquartered in Dubai with offices in Abu Dhabi, Kuwait, Bahrain, Oman, Qatar, KSA, and India, the group is at the forefront of retail and distribution activities in the UAE and is a franchise partner for leading international brands including Bally, Reiss, Brooks Brothers, Santoni, Porsche Design, MAX&Co. Replay, and many more. Group companies include Jade, Harmony, OCS, MINIML, and Trolka.
The group is an equity partner in several regional joint ventures, supported by a proprietary logistics network that manages regional and international supply chains, freight-forwarding and warehousing. Jashanmal is working to build brands in the GCC with the help of the company’s retail operations and its extensive distribution and wholesale network.
RANK: 20
NAME: Feroz Allana
COMPANY: IFFCO
DESIGNATION: Director
INDUSTRY: Retail
Established in 1975, IFFCO is an international group based in Sharjah, UAE. The Group manufactures and markets a broad range of mass-market food products, related derivatives, intermediates, and services.
Allana is a key player in the Middle East’s FMCG sector and under his leadership. The group operates businesses with 80 manufacturing operations in 37 countries. With a vast portfolio that includes over 800 brands across 20 categories, the group has diversified with its roots firmly established in manufacturing and marketing mass-market consumer products with segments of food and beverage, oils and fats, meat and poultry, personal care, confectionery, ice creams, packaging and industrial products and logistics. Just some of their brands include Tiffany, NOOR, Hayat, London Dairy, Al Baker, Khaleej, and more.
Allana’s leadership vision has made IFFCO Group one amongst the most well-known FMCG groups in the MENA region. With sustainability a cornerstone of the Group, IFFCO has marked four key focus areas to achieve their goals, including traceability, suppliers excellence, partnership and collaboration, and creating impact. Committed to sourcing and processing traceable and sustainable palm oil in their facilities, IIFCO believe that when palm oil is produced sustainably, it has the potential towards contributing to environmental conservation and social and community development.
IFFCO also measures the progress in its own processing facilities in line with specific United Nations Sustainable Development Goals’ (SDGs) key sustainability performance indicators and has bolstered a group policy on sustainable palm oil.
RANK: 21
NAME: Paras Shahdadpuri
COMPANY: Nikai Group
DESIGNATION: Founder and chairman
INDUSTRY: Retail
Before his foray into the world of business, Shahdadpuri served as an Indian foreign services diplomat in several countries. During a chance visit to Dubai, he decided to relocate to the emirate to set up Nikai.
Initially providing general trading of commodities such as rice, coffee, tea, and fertilisers across global destinations, the Group forayed into the retail food business followed by the launch of TASC, which provides outsourcing and staffing services across a diverse range of industries. Over the course of over two decades, Nikai has a footprint in over 60 countries and over 65 million customers.
Today, with over 400 electronic and household appliances in its portfolio, it considers itself a total home solutions brand. The group has diversified its portfolio to include electronics, appliances, food products, staffing outsourcing and restaurants, with offices in countries including UAE, Oman, China, KSA, Egypt, Georgia and Russia.
A brand that embodies its manifesto ‘Mr. Reliable’, he has steered Nikai to be known as a superior product at an affordable price and is one of the very few brands that has a dedicated local service centre. With a flagship logistics hub in Dubai Investments Park, a logistic facility in Umm Al Quwain, and a warehouse in Jebel Ali North, Nikai also provides integrated logistics solutions to clients.
Besides electronics, the group’s digital foray in the form of Spotnik Technologies saw significant traction in the domain of AI, smart centres and VR-related solutions. The firm has also developed Smart City Studio, the first urban digital twin platform made in the UAE.
RANK: 22
NAME: Vikas Chadha
COMPANY: Jumbo Electronics
DESIGNATION: CEO
INDUSTRY: Retail
Founded in 1974 by the late M. R. Chhabria, Jumbo Electronics is a family-owned business that today has become a diverse group of companies. With over two decades of experience with working among leading global technology companies, Chadha’s proven track record of leadership in growing and managing several businesses across various sectors and geographies aligns with the group’s ambitions.
Prior to joining Jumbo, he held several leadership roles across reputed multinational groups, including Honeywell International, L&T, Sharp Corporation, and McKinsey & Co. One of their largest business units, Jumbo Distribution is responsible for demand creation, end-to-end supply chain management and providing after-market services for their large portfolio of well-known international brands.
With a regional presence across the UAE and GCC countries and over 44 years in business, Jumbo Electronics are not only committed to maintaining their leadership position, but support championing efforts congruent with UAE Vision 2030 moving forward. The result of a rapidly automated future with the expected rapid adoption of 5G and onset of IOT (Internet of Things) could be potentially complex, especially with rising security issues which require a higher quality of service.
With this at the forefront, Jumbo Unwired has become a one-stop solution for all technological problems. Initially launched as a service collection point at retail stores, the heavy demand for technology aided services led its transformation into a provider of a 360-degree service for customers for all things related to technology.
RANK: 23
NAME: Kamal Vachani
COMPANY: Al Maya Group
DESIGNATION: Group director
INDUSTRY: Retail
Established in 1982 by businessman L.K Pagarani, Al Maya is a leading supermarket chain in the UAE, with multi-format stores serving customers for over three decades. Steering the success of the Group, Vachani helms its multiple business verticals which include the FMCG distribution of food and non-food products, processing plants in India as well as in other countries around the world, including supermarkets, Borders and Paperchase.
The group has always given preference to the brands originating from India, and in their portfolio, highlight brands including KLF Coconut Oil, Society Tea, Horlicks, and more. Under Vachani’s leadership, the company has also invested towards merchandising solution for its sales and merchandising team and information technology by having the latest mobile sales force automation (mSFA) system.
Al Maya Group is headquartered in the UAE and has strengthened its regional presence across Oman, Bahrain, Kuwait, and Qatar over the past two decades. Inculcating a technology driven business, Al Maya Group have invested in technology integration. From their Mobile Sales Force Automation (mSFA) for their sales team to Cognos, a user-friendly business intelligence tool from IBM, the group has invested in Conektr, a B2B platform which supplies over 7,000 groceries directly.
The group’s investments in technology not only boost the customer experience but are helping facilitate seamless business. Vachani announced the retailer will be including more products from Thailand to its portfolio, which already include several popular Thai products.
RANK: 24
NAME: Gaurav Sinha
COMPANY: Insignia Worldwide
DESIGNATION: Founder and CEO
INDUSTRY: Media
Recognised for his expertise in the travel and hospitality industries, Sinha held the role of head of marketing at Hilton Worldwide in the Middle East until 2002 preceded by a decade of experience in the advertising industry ending at Lowe, the global advertising giant.
One of the first companies in the then-new Dubai Media City freezone, Insignia was launched in 2003. With Sinha’s impeccable track record in launching and managing brands worldwide, the agency soon ranked as a leading brand collaborating with global giants, including Conrad, Kempinski Hotels & Resorts, Armani Dubai, Anantara Hotels & Resorts, Dubai Tourism, and more; across 20 countries. Sinha launched Insignia Travel Media Group (ITMG) in 2008 followed by Insignia Hospitality Solutions (IHS) in 2012.
He also established the region’s first independent luxury travel company, The Travel Attaché in 2012, as well as the launch of Insignia PR, which offers travel, hospitality and lifestyle brands a refreshing approach in meeting their specific marketing and communication needs.
A branding powerhouse, he is also The Luxury Marketing Council’s Middle East chapter’s brand ambassador while spearheading a luxury hotel concept within the hospitality industry.
Alongside with his wife Lucy Bruce, Sinha launched Harmony House in December 2009, a registered charity in India and the UK. The House provides food, shelter, education, and medical care for slum children and offers social support and vocational training to under-privileged mothers and young women.
RANK: 25
NAME: Shaji Ul Mulk
COMPANY: Mulk Holdings
DESIGNATION: Founder and chairman
INDUSTRY: Industry
Founded in 1982, Mulk Holdings owns and manages seven companies under the helm of Ul Mulk who has resided in the Middle East for over two decades. As a global business powerhouse, he has steered Mulk Holdings to diversify interests in the manufacture of building facades, facade contracting, healthcare, plastics and sports assets with operations and manufacturing bases in the US, Europe, India, UAE, Oman and Ghana.
Their flagship product is the manufacture and distribution of the A2 fire-rated aluminium composite panel under the brand name, Alubond A2. The brand has grown into the world’s largest aluminium composite panel manufacturer with installations in more than 100 countries.
Expanding into the healthcare industry in 2010, the Group has launched physiotherapy centres, telemedicine facilities, and diagnostic clinics around the region. Mulk Med Healthcare is the region’s first Telehealth care ecosystem provider that has steered the soft launch of Mulk Med Healthcare Virtual Hospital which merges diverse ICT verticals and healthcare solutions. The Mulk Physiotherapy & Home Care Centre is steered by a core focus on physiotherapy and rehabilitation.
The technologically driven Global Hawk Imaging and Diagnostics offers open MRI and the ability to connect multiple centres to a central hub of medical specialists for patients to receive quality healthcare from physicians based anywhere in the world. He chairs the Mulk Foundation and is responsible for various philanthropic initiatives in the UAE and India, offering free medical check-ups, and support for disabled children.
RANK: 26
NAME: Naresh Bhawnani
COMPANY: West Zone Group
DESIGNATION: Founder and chairman
INDUSTRY: Retail
Hailing from a family of entrepreneurs in India, after arriving in the UAE in the late 1980s, Bhawnani began an upward trajectory within the country’s fast-growing retail and hospitality sectors. On 2 December 2005, he launched the first supermarket in Mirdiff, which was the impetus for the launch of West Zone Group helmed by Bhawnani.
Having grown from that single store, in just two decades, the group is a well-established retail conglomerate with over 125 retail outlets and includes a diversified portfolio with supermarkets, hypermarkets, building contracting, malls, hotels and hospitality, F&B, real estate, and more.
A one-stop-shop for essential items and specialty products, each West Zone store caters to the specific requirements of the neighborhood it is and is underpinned by a heritage of providing customers with quality products, friendly service, and the best prices.
Its state-of-the-art distribution centre processes over 5,000 global brands to its outlets while supermarkets and hypermarkets remain at the forefront of the group’s activities. The company’s expansion skyrocketed with the $10m acquisition of the supermarket chain Safestway, three Giant branches and G-Mart from the Giant Group.
Within the West Zone Group’s hospitality division, both The West Zone Plaza and West Zone Pearl Hotel Apartments provide amenities to enable a hospitable experience for their guests. The West Zone Hotel Apartments are in close proximity to many of Dubai’s major tourist attractions alongside the amenities on offer, make West Zone Hotel Apartments the perfect choice.
RANK: 27
NAME: Pratik Gauri
COMPANY: 5ire.org
DESIGNATION: Founder and CEO
INDUSTRY: Technology
The brains behind one of the world’s fastest-growing unicorns and the coiner of the term the 5th Industrial Revolution, Gauri conceptualised this as a founding principle for shaping a for-purpose world that combines sustainability, innovation, and business viability.
According to him, most of the world’s complex problems can be solved if we create traffic on the bridge between key performance indicators and social impact. The 5ire ecosystem is being built by a team of engineers and scientists and will include a layer 1 blockchain, NFT/metaverse marketplace, 5ire Wallet, and 5ire Capital.
He is focused on bringing and building an irrefutable cache of developer talent Web3 and blockchain in India and has partnered with Niti Ayog to build a Web3 training programme. This is aligned with the Indian government’s support of the adoption of Blockchain technology and resources, steering the development of the technology across both the academic and commercial sectors.
Both Gauri and 5ire have been recognised for their impact by organisations like the World Economic Forum, Entrepreneur Magazine, Economic Times, Forbes, NASDAQ, TED, Hurun India, amongst others. The tech genius has also been the recipient of Entrepreneur India’s Creative Entrepreneur of the Year by Startup and recognised as a British Petroleum Scholar, the World Economic Forum Global Shaper, as well as Al Gore’s Climate Leader.
Gauri has his hands in many pies: his other ventures include 5th Element Group India – a global impact management consultancy; Glastic – a zero-waste B2B glassware solutions brand, Let’s Do This, Let’s Go Social, and World Web3 Association. He has also served executive positions with the Tata Group.
RANK: 28
NAME: Sunil Vaswani
COMPANY: Stallion Group of Companies
DESIGNATION: Chairman
INDUSTRY: Diversified
Having spent most of his formative years in Nigeria learning about the business that would later become the Stallion Group from his father, Sunderdas Vaswani, helming his Dubai-headquartered group, Vaswani has spearheaded diversified business interests in technology, food, steel manufacturing, petrochemicals, plastics, and more.
Backed by a 52-years long history, the group operates across Asia, the Middle East and Africa as a diversified conglomerate in West Africa with an exclusive brand portfolio of automobiles including Nissan, Porsche, Audi, and more. With a presence in 18 countries, the group is now diversifying more heavily into the Middle East and consolidating its presence in sub-Saharan markets.
The focus areas include agriculture, FMCG, heavy industries, infrastructure, petrochemicals, power, and mining. Passionate about West Africa and its increasing industrialisation, he is the co-founder of the Stallion Empowerment Initiative (SEI), Stallion Group’s philanthropic arm, which regularly invests in the host communities of his factories. The initiative’s first pillar of development has been focused on education, especially considering the fact that as a region, Saharan Africa has one of the highest rates of illiteracy in the world, at a rough estimate of 64 percent.
The foundation believes it is crucial for Nigeria to set a benchmark as one of the leading economies in Africa to improve the access and opportunities available for young individuals. SEI supports two primary schools and one technical school in Warri, Nigeria. The goal is to improve enrolment and attendance rates in primary and technical high schools in the region, and its continued support through public-private partnerships (PPP) will improve infrastructure, teaching standards and access to schools for children today.
To improve the access and opportunities available for young individuals, Vaswani understands the urgency for Nigeria to establish a benchmark as a leading economy in Africa. Across healthcare, the group supports a 50-bed hospital and clinic in the Aladja region in Warri, Delta State, a mostly rural and socio economically underdeveloped area, with special wards for female and paediatric healthcare services and serves approximately 50 out patients per day.
“We want to be the Africa specialist; we want to partner with credible global names and African institutions”
Sunil Vaswani
RANK: 29
NAME: Devaki Khimji
COMPANY: Al Turki Enterprises
DESIGNATION: Executive director
INDUSTRY: Industry
Al Tasnim Group is one hundred percent Omani-owned and dates back over 40 years. Throughout its upward growth trajectory, the group has transformed to become a leading player in Oman’s construction industry that has grown from a small family business to a market leader across contracting, manufacturing of cement products, building finishes products and roads, asphalt and infrastructure works, amongst other product offerings.
Steering the transformation of Al Tasnim Group, Khimji joined in 2012 and has steered the restructuring of the Group into six main verticals, including oil and gas; civil construction; building finishes; cement products; roads and infrastructure, and product dealership training. She has played a strategic role in transforming the Group into one of the Sultanate’s most respected and trusted construction conglomerates.
By spearheading some of Oman’s most recognisable landmarks, Al Tasnim Group encompasses a diverse team of over 20,000 employees and aspires to provide Oman with international quality skills & products to align with the growth of the nation. Moreover, she has steered the Omani company through several key projects during her tenure, including Oman’s integrated tourism complex (ITC) Al Mouj, Muscat and phase 2 of Al Tasnim Group’s multi-dwelling community development, The Ras Al Hamra Development Project.
She has also served as the managing director and founding partner of India Circus Retail Pvt Ltd., an online retailer of lifestyle products in India for four years.
RANK: 30
NAME: Dhananjay Datar
COMPANY: Al Adil Trading Company
DESIGNATION: Chairman and MD
INDUSTRY: Retail
A self-made entrepreneur who recognised the gap in the local market for Indian spices, Datar embarked upon his entrepreneurial journey in 1984 as an intern in his father’s grocery shop in Dubai. Today, Al Adil Group encompasses a chain of over 50 stores spread across the GCC alongside spice factories and flour mills equipped with modern technology and an import-export company acting as an Indian arm.
Known as the Spice King across the UAE, Bahrain, Oman, KSA, and India, under his helm, he has performed a key role in bringing more than 9,500 Indian products to UAE. The Adil Group also produces over 700 products under its own brand Peacock, within categories that include ready-made flours, spices, pickles, jams, and more, and is actively expanding its presence in other Gulf countries.
With already established special trade routes in the Gulf region, USA, Canada, Switzerland, Italy, and Eretria, Al Adil Group’s outlets also have attached grinding mills, their own manufacturing unit in Dubai Investment park as well as in Al Quoz industrial area. And with more individuals’ arriving to the region from South India, the group will also focus on importing additional food items from Karnataka, Telangana, Kerala, Tamil Nadu, and Andhra Pradesh in South India. Besides excelling as an entrepreneur, Datar is a keen philanthropist who has been committed to helping those in need.
In 2021, he steered the success of the Rickshaw Ambulance, which entailed a fleet of 25 auto-rickshaw ambulances equipped with medical equipment and oxygen cylinders to transport critically ill covid patients’ in Pune, India.
RANK: 31
NAME: Ramesh Ramakrishnan
COMPANY: Transworld Group
DESIGNATION: Chairman
INDUSTRY: Logistics
Founded in Mumbai, India in 1977, Transworld Group has transformed from a shipping agency to a robust shipping and logistics conglomerate today. Ramakrishnan took over the helm in 1989 following his father’s demise, and the group went on to launch Shreyas Shipping in 1993 which later expanded its international operations to the US and converted into a public limited company.
With over four decades of expertise and a fleet of 26 bulk and container vessels and warehousing operations, Transworld Group is headquartered in the Jebel Ali Free Zone, Dubai with offices in the US, Far East, the Middle East, and the Indian subcontinent. Providing end-to-end solutions, just some of these include integrated digital solutions, warehousing, e-commerce, ship management, aviation, ship owning, and more.
With a goal to become a carbon-neutral organisation by 2043, Transworld Group is focused on reducing their greenhouse gas emissions across all locations and businesses.
And as Transworld Group is integrating an ESG framework into their business practices, this alignment with business strategy is helping mitigate business risks while driving transformation. In January 2023, Transworld Group entered into a partnership with World Security, a DP World company, whereby both companies will collaborate to create overseas employment opportunities by recruiting, training and developing skilled professionals in the Indian subcontinent.
RANK: 32
NAME: Raj Rana
COMPANY: Citymax Hotels
DESIGNATION: CEO
INDUSTRY: Hospitality
With over three decades of international hospitality experience, Rana has held leadership positions in the US, Europe, and Asia and has been in his current role since June 2020 with Citymax Hotels and Foodmark, both part of Landmark Group.
Most recently, he held the role of the CEO of Radisson Hotel Group for South Asia with the responsibility for the region’s profit and loss and growth. With the shift towards the mid-market segment with a wider base of travellers, within this segment, Citymax Hotels offers value at an affordable price.
Located conveniently in Downtown Dubai, Citymax Hotel Business Bay is a short 10-minute drive from The Dubai Mall, Burj Khalifa and the Dubai International Financial Centre (DIFC). Citymax Business Bay’s foray into the 4-star market highlighted the brand’s ambition to position the hotel as their new flagship property as well as to boost versatility within their portfolio.
As the recipient of multiple accolades, Citymax was named the World’s Leading Budget Hotel Brand 2014 to 2019 at the World Travel Awards; Traveller’s Choice Hotel 2016 to 2018 for Citymax Hotel Al Barsha by Trip Advisor, amongst others. Now with seven hotels across the UAE and Egypt, the brand portfolio among the hotels includes a diverse selection of specialty food and beverage outlets, including Sizzling Wok, Claypot, and more.
Rana has steered Foodmark to boast some of the region’s most well-known international F&B brands, spread across the Middle East in 38 locations in the UAE, KSA, Kuwait, and Qatar. The brand portfolio includes Nandos, Carluccios, and more.
RANK: 33
NAME: Nayeem Moosa
COMPANY: Gentur Security Group
DESIGNATION: Founder and managing director
INDUSTRY: Services
Established in 2008, under Moosa’s exceptional leadership, Gentur Security Services have set the highest industry standards across all of the sectors they operate in, including event security and close protection to executive chauffeuring services and security consultancy service.
Committed to delivering high-quality security services, under Moosa’s guidance, Gentur Security Services has expanded its operations globally across several countries. And in providing their security services on a global scale with a diverse portfolio of clients, their team of experts offer professional services tailored to meet and exceed the needs of their clients.
The company has become a regional premier security provider with an annual turnover of $9.8m and has secured major events across the UAE with an impressive history including Red Fest Dxb, Unite with Tomorrow land 2017, Robbie Williams Live in Concert 2020, Dubai Run, Dubai Ride and Asia Cup 2022. And that’s not all, his team has also provided close protection services to some of the most high-profile Hollywood celebrities in the world, including Will Smith, Tom Cruise, Justin Bieber, Logan Paul, Jake Paul, Zac Efron, Jennifer Lopez, and Kim Kardashian.
On the other hand, they have also provided close protection services to several top Bollywood celebrities, such as Shahrukh Khan, Salman Khan, Akshay Kumar, Hrithik Roshan, Amitabh Bachchan, Ranveer Singh and Katrina Kaif. By 2023, Nayeem had transformed Gentur into a leading security company in the UAE, securing partnerships with major malls and arenas, including Dubai Mall, Mall of Emirates and Coca-Cola Arena.
RANK: 34
NAME: Sandeep Walia
COMPANY: Marriott International
DESIGNATION: COO Middle East
INDUSTRY: Hospitality
A seasoned hospitality professional with strategic business acumen, Walia has enabled operational and financial excellence to create market leading returns and establish mutually beneficial partnerships and relationships with stakeholders within Marriott International Middle East.
Armed with 25 years of international experience in the hotel industry, he joined Marriott International in 2005 and prior to his current role, Walia was the area vice president for the UAE where he played a key role in support of the company’s guests, hotels, and associates during the pandemic.
Before taking on his role in the UAE, he was the area vice president of Luxury Brands for Western Europe, managing the company’s luxury portfolio across Poland, France, Austria, Czech Republic, Germany, Iceland, Netherlands, the UK, and Switzerland, as well as of all BVLGARI hotels in Europe.
Inculcating a global mindset with a strong understanding of the evolving consumer landscape, following his appointment in 2021, Marriott International witnessed upward growth throughout the entire 2022. This includes expansion in the UAE marked by the launch of the flagship Marriott Resort Palm Jumeirah which is their 50th hotel in Dubai, and seven signings in the UAE.
Across the GCC region, 2022 witnessed four new properties in KSA, the launch of the Ritz-Carlton, Jordan, and seven properties added to the Group’s portfolio in Qatar. In Q1 2023, Marriott International and Etihad Airways announced their collaborative efforts to plant 12,000 mangrove trees at Jubail Island.
RANK: 35
NAME: Firoz Merchant
COMPANY: Pure Gold Jewellers
DESIGNATION: Chairman
INDUSTRY: Retail
Growing up under challenging circumstances, Merchant went on to make his dream a reality with the launch of his first Pure Gold Jewellery store in 1989 which today, has emerged as a leading integrated diamond and jewellery manufacturer and retailer in the MENA region and Asia. With over two decades in the market, Pure Gold Jewellers has matured over the years with over 150 stores across 20 countries including the Middle East and Asia.
A multi-national company comprising Pure Gold Jewellers, La Moda Sunglasses, Pure Gold Properties and real estate investments in several other countries, Pure Gold Jewellers was the first jewellery retailer to gain ISO certification in 2002 and the first and only jeweller to be awarded World Diamond Mark. The group is based upon the two pillars of excellence and innovation and prides itself on its superior quality and competitive pricing.
A leading jeweller in the Middle East and Asia, Pure Gold Jewellers currently operates as the sole retailer for gold and diamond jewellery at multiple duty-free outlets in the Middle East and Asia, including a supplier at the Dubai Duty-Free, as well as in Abu Dhabi Duty-Free, Kuwait Duty-Free, and Jordan Duty-Free. On a global scale, Pure Gold Jewellers plans to launch over 25 duty-free locations within a short period of time.
Also actively involved in multiple social initiatives steered by Merchant, Pure Gold Group has committed its support to the UAE Genetic Diseases Association; the UAE Ministry of Health, the UAE Red Crescent Society, Dar Al Ber Society, and Bait Al Khair Society, amongst others.
RANK: 36
NAME: Zulekha Daud
COMPANY: Zulekha Healthcare Group
DESIGNATION: Chairperson
INDUSTRY: Healthcare
The first recognised Indian woman medical professional and senior most female entrepreneur in the UAE, Dr Daud has tirelessly worked toward the welfare of Emiratis and expatriates, especially during a time when healthcare access was very limited in the region.
With an unwavering dedication to help others, in 1964, Dr Daud received her medical degree from the Government Medical College in Nagpur, India and arrived in the UAE to work in the Kuwaiti Mission Hospital, Sharjah.
By 1965, as a practicing physician serving patients from all walks of life, Dr Daud began practicing medicine from a small clinic in Sharjah and soon became known as Mama Zulekha. After years of hard work, Zulekha Hospital was established in Sharjah in 1992 as a 30-bed hospital with basic facilities for gynaecology, obstetrics, surgery, medicine and paediatrics.
Growing more successful over the years, in 2004, Zulekha Healthcare Group (ZHCG) was established with a second hospital in Dubai along with three medical centres and pharmacies. And today, Zulekha Healthcare Group boasts of medical centres, super-speciality hospitals, educational institutes, and pharmacies both in the UAE and India.
In 2012, Zulekha Hospital, Sharjah became a full-fledged, multi-disciplinary hospital and diagnostic centre with outpatient and inpatient facilities. In December 2016, the group announced its foray into the overseas market through the $43.6m Alexis multi-specialty hospital in Nagpur, India.
She is also well-known for her support for CSR initiatives, including education and vocational training programmes for women, clean water initiatives and public health awareness.
RANK: 37
NAME: Rishi Kapoor
COMPANY: Investcorp
DESIGNATION: Co-CEO
INDUSTRY: Investment
In his current position since 1992, prior to his role, Kapoor helmed several key leadership positions within Investcorp between 2003 and 2015, including that of chief financial officer. In addition to the credit management, absolute returns, real estate, and strategic capital businesses globally, Kapoor oversees the firm’s private equity businesses in both North America and India.
As a leading global manager of alternative investments with six lines of businesses, these include real estate, strategic capital, private equity, absolute return investments, infrastructure, and credit management. One of Investcorp’s shareholders, Abu Dhabi sovereign fund Mubadala Investment Co., began its operations in India in 2019 with investments in India across wellness, healthcare, consumer, and financial services, underpinned by technology.
He is also a member of the Board of Directors for Gulf Air Group, Bahrain Airport Company, Gulf Aviation Academy, and National Bank of Bahrain. An active investor in mid-market companies across consumption-linked sectors and in the real estate business across India, Investcorp focuses on opportunities across the retail, healthcare, SaaS, ecommerce, consumer tech, financial services, and technology sectors. In the past four years, just a few of its recent investments have included NDR Warehousing, Intergrow Brands, Bewakoof.com, Zolo, Citykart, Unilog, XpressBees, and Safari Industries.
Very recently, Investcorp have invested in InsuranceDekho, a leading Insurtech in India, as part of a consortium financing $150m of growth capital towards the development of its technology platform.
RANK: 38
NAME: Thumbay Moideen
COMPANY: Thumbay Group
DESIGNATION: Founder president
INDUSTRY: Healthcare
The businessperson behind many firsts, in the late nineties, Dr Moideen launched his Group as an entry into medical education and healthcare services as the first expatriate in the UAE to be invited by the rulers of Ajman to start Gulf Medical University.
And today, Thumbay Group has diversified into research, healthcare, pharmacy and several hospitality businesses including its Body & Soul gyms; Terrace restaurants, flower shops, Blends & Brews coffee shops, and more. As the biggest chain of private academic hospitals in the region, the group’s healthcare division operates eight academic hospitals; five diagnostic labs; 46 retail pharmacies; and 10 family clinics. GMU has also established a state-of-the-art Centre for Advanced Biomedical Research & Innovation (CABRI).
As the first private teaching hospital in the UAE, over 2,000 students have graduated from GMU and are currently either obtaining specialisation or are working professionally in 60 different countries around the world. More recently, the Thumbay Group, The University of London, and GEMS Middle East signed an agreement is for the development and provision of online educational content designed for online audiences in the medical and health sectors as Thumbay Group will launch its Healthvarsity in May 2023.
With the aim to become a leading dedicated online healthcare education portal in the Middle East, Healthvarsity will provide healthcare professionals and students access to high-quality training, education, and professional development resources.
RANK: 39
NAME: Bharat Bhatia
COMPANY: Conares
DESIGNATION: CEO and managing partner
INDUSTRY: Industry
A pioneer in the region’s steel industry, Bhatia initiated his career when he began working in building and hardware materials trading at age 18. In 1987, he launched his first UAE-based business, Mechweld Trading Company as well as United Metal Supply Limited, a UAE-based company trading in structural steel and pipes; both for which he currently heads. In 1988, he founded Conares, a steel production and trading business, from the Jebel Ali Free Zone.
Initially focused on steel trading, he later set up manufacturing facilities in the UAE, and today, has set new benchmarks in the steel industry as a leading producer of steel pipes and tubes, rebars, and flat steel colour-coated lines. Its steel has been used in several projects in the UAE, including Etihad Rail and Expo 2020. Conares is set to expand its facilities with the announcement of the inauguration of its $40.84m colour-coated steel plant in JAFZA, Dubai.
The colour-coated steel plant, with a capacity to produce 100,000 metric tonnes (MT) of colour-coated galvanized steel coils, strips, and sheets per annum, will cater to the increasing demand in the UAE and the region, in addition to manufacturing products to export to a number of international markets.
With its growth and presence in the international markets that has continued to evolve with demand in the region, by the year 2030, Conares has a vision to increase their manufacturing capacity to up to three million tonnes and is working toward developing its export markets to align with this target.
RANK: 40
NAME: Faisal Vahedna
COMPANY: Vahedna Group
DESIGNATION: Group Managing Director
INDUSTRY: Retail
With humble beginnings, Vahedna launched his first shop, Vahedna Trading Co LLC., in Deira, Dubai in 1996, and today, the Vahedna Group includes four divisions which include wholesale; import, export, and re-export; retail; and their Vahedna e-commerce portal eDubuy.me, part of Vahedna Middle East FZE based in Dubai Airport Free Zone Authority.
On their online store, customers can shop for the latest deals, new products launch, current promotions and get connected for the latest updates and various technology trends. The portal also offers best discount rates, cash on delivery service, value deals, installation assistance, with a service warranty on all products and a dealers guarantee.
A leading retail distributor of major electronic brands in the UAE, including GE, Sony, Panasonic, Toshiba, LG, Hitachi, Dell, Philips, HTC, Super General, Supra, Samsung, Akai and Canon they are also the authorised distributor of Apple products in the UAE. In 2017, the Group registered its own brand V-TEC in the UAE, which includes high-quality products and has expanded its product segments from smartphones, action cameras and accessories to home appliances.
The group has also branched out into foods with their subsidiary, Vahedna Foods & General Trading which was established in 1996 and has grown into an international conglomerate in a span of just two decades. Vahedna Group also supports several NGO programmes in the fields of medical and education throughout the world. He strongly believes in giving back to society and helping the less fortunate and has designated a special fund for the underprivileged.
RANK: 41
NAME: Shoba Menon
COMPANY: Equity Group
DESIGNATION: CEO
INDUSTRY: Media
An independent advertising agency in Dubai since 1998, Equity Group of Companies also has a footprint in KSA and Egypt. With a humble start with just two clients and a modest team of four employees, Menon has serviced well over 20 high-profile clients on a wide variety of campaigns and provides key communications solutions.
Her initial foray into the advertising sector was with multinational agency Fortune PromoSeven, and also previously worked with global digital agency Wunderman as the MENA region’s managing director. With a high-profile client list that includes Citibank, Dettol, Samsung, Jacky’s, Hersheys, L’Oréal Paris, DP World, Peugeot, and more, Equity Group of Companies has grown exponentially across the MENA region, with over two decades of award-winning experience.
Just some of their services include branding and strategy, through-the-line advertising, direct marketing, online and new media, event planning and management, media planning and buying, and printing and publishing. The group’s companies include Equity, The Cheek, The Cheek Active, and M3 Productions, a leading, ISO-certified design, production & fabrication agency focused on visual merchandising & retail fit out & fixtures.
M3 Productions work across areas which include visual merchandising, signage anddisplay counter, fitout, promotional and point-of-sale materials (POSM), as well as corporate events, exhibitions, and more. Menon has received several awards and recognitions, some of which include an Appreciation Award for ROUTES Dubai from Sheikh Ahmed bin Saeed Al Maktoum.
RANK: 42
NAME: Renuka Jagtiani
COMPANY: Chairwoman and CEO
DESIGNATION: Landmark Group
INDUSTRY: Retail
Landmark Group has transformed the retail sector in Dubai, growing from a single store in Bahrain in 1973 founded by her husband Micky Jagtiani, to now over 2,200 retail outlets, Jagtiani has been pivotal in guiding corporate strategy for over two decades. As a cornerstone of the company’s journey, she has been instrumental in creating the high-street fashion brand Splash in 1993.
Under her leadership, the Group forayed into e-commerce and invested in the MENA region’s largest privately-owned logistics and distribution hub, with a vision to reach its customers, irrespective of where they shop. Landmark Group has been a champion for over 14 years in their endeavour to support early diabetes detection, raise awareness about diabetes in the region, and improve care within UAE’s communities, By stirring up awareness about the risks and complications of diabetes, Landmark Group urge residents to lead active lifestyles as well as test for diabetes regularly.
The Landmark Group, alongside the Jagtiani Foundation and The LIFE Foundation have worked with a network of reputed local non-profit organisations across India, such as Apnalaya, Jan Sahas, Oscar Foundation, SAVE, a reputed organisation with its roots in the Tiruppur area in Tamil Nadu, South India, that has been one of the pioneers in highlighting the issues of textile and garment workers and eradicating child labour in Tiruppur. And during the covid pandemic in 2020, the Jagtiani Foundation and The LIFE Foundation had dedicated its efforts to providing food rations and hot meals for those in need, as well as PPE kits for frontline workers.
RANK: 43
NAME: Alisha Moopen
COMPANY: Aster DM Healthcare
DESIGNATION: Deputy managing director
INDUSTRY: Healthcare
Managing the company’s operations in India and GCC, Moopen joined the company as a director in 2013, and oversees the strategic direction and development of the Aster DM Healthcare Group. She will be spearheading the expansion of the Group into new markets which is currently present in seven countries with a network of 30 hospitals, 121 clinics, and 459 pharmacies.
Dedicated to the cause of women empowerment and mental health, she was instrumental in launching the Women in Leadership programme at Aster DM Healthcare which empowers talented and capable female employees with training and growth opportunities, to shape them for leadership roles.
She has also steered Aster DM Healthcare’s recently launched Wellth, described as the first of its kind hub of integrative medicine in the UAE. Wellth will offer complementary therapies including functional medicine, nutrition therapy, Ayurveda, yoga, mental and emotional health, reiki, Chinese medicine, and homeopathy.
As one of the UAE’s first private healthcare groups to launch teleconsultation facilities at the onset of the pandemic, for 2023, Aster DM Healthcare ambition to launch more clinics, increase bed capacity, open more pharmacies in high-growth areas as well as in KSA and Bangladesh, bolster their medical value tourism segment, and fully rollout the myAster app. The app allows patients’ to book and manage in-clinic and teleconsultation appointments, avail video consultation with doctors, and enjoy free home delivery of health and wellness products in 90 minutes.
The complete version of myAster app expected to launch in 2023 and combines artificial intelligence (AI) and machine learning capabilities to provide a seamless patient experience.
“Aster DM Healthcare is aligned with the UAE’s 2031 Vision for developing the health sector by providing the best-in-class services and continually updating them. The myAster platform was launched as part of Aster’s commitment to provide equitable, unbiased access to world-class medical care, while we strive to improve the healthcare system’s readiness to manage health risks,” Moopen said.
“At Aster DM Healthcare, we continued to elevate the human experience of our workforce and reshape what, how and where work is performed by scaling virtual health services for patients and forging partnerships”
Alisha Moopen
RANK: 44
NAME: Bally Singh
COMPANY: Hoko Agency
DESIGNATION: Founder and chairman
INDUSTRY: Technology
Over the last 25 years, Singh has built numerous companies that have grown significantly and created substantial shareholder and stakeholder value.
Hoko Group consists of several separate entities and has worked with brands including Microsoft, the Abu Dhabi Department of Culture and Tourism, and The Marriott Group, amongst others. Cognisant of the Middle East’s visionary approach toward Web3 and Blockchain industries, Singh has helped bridge the gap between the corporate, governmental and Web3 industries by providing an environment where people can network, discuss the evolution of the industry, and create synergies. Singh is no stranger to the concept of bringing different worlds together and the power of collaboration and personal experiences.
Through another one of his companies, The Rich List, Singh has curated large scale events, globally. Working around the Formula One calendar, The Rich List has created high end, bespoke, luxury experiences for high-net-worth individuals and corporate clients such as the Young Presidents Organisation, Alfa Romeo Sauber, Red Bull, Heineken, Dom Perignon and DP World. Previous attendees and performers at the events have included, Lewis Hamilton, Max Verstappen, Fernando Alonso, Valtteri Bottas, Zhou Guanyu, Pharrell Williams, Paris Hilton, Bella Hadid, Craig David, and The Weeknd, amongst others.
In 2022, Singh launched the Middle East Blockchain Awards (MEBA) to merge government, finance, and Web3 under one roof at an inaugural event held in Abu Dhabi over F1 Race Weekend. In terms of the future, various projects have already commenced, further cementing, and enhancing Singh’s work in the UAE and increasingly in KSA.
A digital asset specialist, he believes there are now many big players who accept Bitcoin, proving to those naysayers that there is indeed a strong future in embracing cryptocurrencies as legitimate methods of payment.
“Cryptocurrency is now well and truly in the realm of corporate transactions, with currency such as Bitcoin and other digital assets being used by an increasing number of companies across the world.” Singh said.
“From fashion shows to family gatherings, trade shows to weddings, the metaverse is here to make anything happen… and the more the metaverse grows, the more cryptocurrency will grow with it”
Bally Singh
RANK: 45
NAME: Sima Ved
COMPANY: Apparel Group
DESIGNATION: Founder and vice chairperson
INDUSTRY: Retail
With retail entrepreneurialism running through her DNA, Ved moved to Dubai with her parents in the 1970s. She initiated her entrepreneurial career at age 20 while working in her father’s shopping mall in the early nineties which ultimately set the tone of her business ethics.
Today, she helms one of the largest retailers and billion-dollar company in the Middle East. Her multi-award-winning global fashion and lifestyle retail conglomerate is based in Dubai with operations across the GCC with over 2025 retail stores and over 80 brands on all platforms. In Q1 2023, the Group announced plans to launch 19 new stores across several locations, including the UAE, KSA, India, Qatar, and Bahrain.
Also as part of its expansion strategy, the Group has established joint ventures and strategic partnerships, including a partnership with UAE-based home-grown concept, Project Chaiwala, alongside a joint venture with Steve Madden to expand its global presence. The recipient of multiple awards both professionally and personally, Ved is also an active member of many world organisations such as YPO and in fact, is also the first female member in YPO to set up a regional chapter (YPO MENA STAR) that started with a vision of gender equality for its membership base.
Having achieved 52 percent female members, this is the highest in YPO globally. Apparel Group is a member of the UN Global Compact and the organisation is actively working towards implementing the 17 Sustainable Development Goals which targets Goal 2: Zero Hunger and seeks to ensure the less fortunate and vulnerable have access to nutritious food.
Just last month, Apparel Group’s home-grown sustainable athleisure wear brand F5 Global joins forces with Dutch brand, Zen Running Club to launch UAE’s first-ever running shoes made from plants. Merging style, performance, and sustainability to attract the modern runner, solely on the runners and their lifestyle.
This is F5 Globals’ first international collaboration, introducing a new product category within the brand – plant-based footwear.
“Apparel Group is always proud to support any efforts to help develop awareness and solutions surrounding mental health as it affects our self-esteem and physical wellbeing”
Sima Ved
RANK: 46
NAME: Sania Mirza
COMPANY:
DESIGNATION: Former pro player
INDUSTRY: Tennis
A 36-year-old pioneering athlete who has made her mark in the world of professional tennis, Mirza is not only the only Indian female player to have made it into the top 30 of the WTA singles rankings in 2005 at her hometown competition, the Hyderabad Open, but was also the first to have won a Grand Slam title in any format.
A beacon of inspiration, Mirza made her debut in 2003 and holds the distinction of competing at four different Olympic Games and has won six Grand Slam titles in her career, three in mixed doubles and three in women’s doubles. Achieving a career-high ranking at number 27, the right-handed Mirza excelled in singles, before she went on to specialise in doubles, winning the mixed doubles at the French Open in 2012 followed two years later by the US Open win.
Her game reached new highs after her successful partnership with Martina Hingis in 2015 during which the duo gained titles at the 2015 US Open, 2015 Wimbledon, and the 2016 Australian Open.
Jumping to number one on the doubles circuit, Mirza became the first Indian woman to achieve this ranking on the WTA Tour in 2015.
Her season ended prematurely due to an injury which prompted a delay in retirement plans to February 2023 after her final match in Dubai where Mirza, alongside her doubles partner Madison Keys, lost to Veronika Kudermetova and Liudmila Samsonova 6-4 6-0. Post retirement, Mirza ambitions to mentor the women’s cricket team, Royal Challengers Bangalore.
RANK: 47
NAME: Deepa Sachanandani
COMPANY: Century Financial
DESIGNATION: Deputy head of research
INDUSTRY: Investment
With over eight years of diverse experience in equity and credit research, Sachanandani has a wealth of experience across commodities, forex, bonds, and fundamental and technical analysis of equities. Prior to her current role, she worked for CRISIL, an S&P Global Company, and DBOI Global Services (Deutsche Bank Operations International).
For almost three decades, Century Financial have been providing an array of professional services to private and corporate investors. The company has since then extended its network throughout the Middle East and Gulf countries with a vision to be the region’s first choice for global financial investments. Some of Century Financials pioneering products in the region include market neutral strategies that have been launched after years of back testing.
Committed to making investments accessible through a customer-centric approach combined with industry-leading expertise and innovative technologies, their core emphasis is on educating investors to help make informed decisions.
To accelerate sustainable leadership, Century Financial announced the ‘Sustainability & U’ project in line with the UN Sustainable Development Goals 2030 which focuses on action through partnerships. Inculcating a belief that businesses around the world have a duty to address today’s global concerns, from embracing governance that supports a well-functioning global economy to equipping stakeholders with sustainable practices that impact the economic, environmental, and social situations.
RANK: 48
NAME: Vineet Budki
COMPANY: Cypher Capital
DESIGNATION: Managing partner and CEO
INDUSTRY: Fintech
A leading force de riguer within the crypto and blockchain space on a global level, Budki has steered over one hundred investments across multiple blockchain startups, including Casper Labs, Mysten Labs, Torus, KILT and more.
With knowledge and expertise across the Web 3.0; GameFi; DeFi; metaverse; investing and venture capital; and investment in blockchain startups as a VC, and more, he has spoken on VC Investments at multiple noteworthy events. Just some of these include Token 2049 in Singapore; WEF at Davos; DCentral in Austin, Texas; Nearcon & Nearverse in Portugal; the Future Blockchain Summit and the Global Blockchain Congress, both in Dubai; as well as Blockchain Life in Moscow.
He is also the brains behind Cypher Capital, a leading multi-strategy crypto investment firm based in the UAE that invests in companies building their businesses at the blockchain protocol and infrastructure level. This could include exchanges and asset transfer protocols, stable coins, smart contract platforms, digital currencies, and utility tokens for high growth industries.
By seeking legal advice from key legal parties, it creates a tailor-made legal framework that is fully compliant with current regulations. Cypher Capital offers efficient and complete market access in the MENA region and builds ground partnerships with start-ups, enabling the establishment of relationships with other influential companies in the MENA region, Turkey, and India.
Backed by a $100m self-funded venture capital fund specifically focused on blockchain startups, Cypher Capital supports startups that intend to expand in these regions in terms of infrastructure and headcount.
RANK: 49
NAME: Mohan Valrani
COMPANY: Arcadia Education
DESIGNATION: Chairman
INDUSTRY: Diversified
Driven by a zeal to contribute to the development of the UAE, Valrani arrived in Dubai in 1966. In 1971, along with his friend and business partner, Abdulla Al Shirawi, the duo launched Al Shirawi Group, an investment vehicle of companies across different verticals, headquartered in Dubai.
Today, Al Shirawi Group boasts over 10,000 employees in over 35 companies, each pledged to contribute to the UAE’s development, across more than 17 industries, including construction, healthcare, oil and gas, logistics, plastics, parking, renewables, and more. With offices in all GCC countries, Egypt, and the USA, Al Shirawi Group is extending their physical presence across the globe and ambition to strengthen its network to serve customers across all continents.
Valrani also helms Al Shirawi Interiors, one of the most reliable ID Fit-out Contractors in the UAE with credentials of 50 years, executing over 3000 large projects in UAE. Expo audited and one of the most reliable ID fit-out contractors in the UAE. the company has executed LEED platinum projects, including the premises for civil defence, ambulance, and Dubai police.
Al Shirawi Interiors was awarded the ID Fit-out and MEP Works package of the Swedish Pavilion at Expo 2020 and also awarded to carry-out the Interior Fit-out works for the Expo Cartier Auditoire Women’s Pavilion in Dubai. In 2016, he founded the Arcadia School in Dubai, a British curriculum school with a progressive approach to education and is a member of the Board of Trustees as well as the founding chairman of the Indian High School in Dubai.
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