Finance World Magazine| Edition: February 2024
This edition of Finance World magazine delves into the intricate tapestry of family businesses that form the backbone of the UAE's economic landscape. While the world marvels at the skyscrapers that adorn the horizon, it is the stories of resilience, tradition, and financial acumen within these family enterprises that define the nation's economic fabric. The cover story highlights some of the influential family businesses that traverse diverse sectors within the UAE, weaving together a narrative that profoundly influences the nation's economic trajectory. Furthermore, articles such as 'Exploring The AlMulla Brothers' Visionary Approach to Healthcare' and 'Innovation in Elevation: Al Habtoor Real Estate's Landmark Projects of 2023' navigate the influential role of family businesses in driving growth within diverse sectors. Moreover, the magazine explores regulatory initiatives taken by the UAE to boost family businesses within the country and their consequential impact on the economy. Articles including, 'The Economic Significance of Family Businesses in the UAE' and 'UAE's Unified Registry Launch: Strengthening Family Business Governance' provide insights into these regulatory measures. Keep yourself up to date with all financial sector news with our current news segments. Each person can find something unique from us. We believe our readers deserve real value from what we have to offer.
This edition of Finance World magazine delves into the intricate tapestry of family businesses that form the backbone of the UAE's economic landscape. While the world marvels at the skyscrapers that adorn the horizon, it is the stories of resilience, tradition, and financial acumen within these family enterprises that define the nation's economic fabric.
The cover story highlights some of the influential family businesses that traverse diverse sectors within the UAE, weaving together a narrative that profoundly influences the nation's economic trajectory. Furthermore, articles such as 'Exploring The AlMulla Brothers' Visionary Approach to Healthcare' and 'Innovation in Elevation: Al Habtoor Real Estate's Landmark Projects of 2023' navigate the influential role of family businesses in driving growth within diverse sectors.
Moreover, the magazine explores regulatory initiatives taken by the UAE to boost family businesses within the country and their consequential impact on the economy. Articles including, 'The Economic Significance of Family Businesses in the UAE' and 'UAE's Unified Registry Launch: Strengthening Family Business Governance' provide insights into these regulatory measures.
Keep yourself up to date with all financial sector news with our current news segments. Each person can find something unique from us. We believe our readers deserve real value from what we have to offer.
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Cover Story<br />
Family Traditions,<br />
Business Triumphs:<br />
UAE’s Core Enterprises<br />
Abdullah Mohammed<br />
Juma Al Naboodah<br />
Chairman, Saeed & Mohammed<br />
Al Naboodah Group<br />
Sector: Diverse | Establishment: 1958<br />
In 1958, brothers Saeed and Mohammed Al Naboodah<br />
laid the foundation for what would become one of the<br />
most esteemed family companies in the UAE - the Saeed<br />
& Mohammed Al Naboodah Group. With a workforce of<br />
over 10,000 individuals representing nearly 50 nationalities,<br />
the group has evolved into a powerhouse with a diverse<br />
portfolio spanning civil engineering, building, MEP, and a<br />
multitude of sectors including automotive, transportation,<br />
travel, electrical, logistics, agriculture, smart cities, real<br />
estate, and renewable energy.<br />
At the heart of the enterprise is the parent company,<br />
Saeed & Mohammed Al Naboodah Holding LLC, overseeing<br />
the management of two main divisions: Al Naboodah<br />
Construction Group (ANCG) and Al Naboodah Commercial<br />
Group (ACG). Renowned for delivering world-class<br />
projects and services that surpass client expectations, Al<br />
Naboodah has become a trusted brand synonymous with<br />
quality and sustainability.<br />
In 2010, the group diversified into multiple sectors,<br />
presenting an impressive portfolio of global brands, and<br />
solidifying its position as one of the leading conglomerates<br />
in the UAE. In 2014, Al Naboodah Group Enterprises<br />
(ANGE) was established to streamline management processes,<br />
consolidating the group’s activities. Al Naboodah’s<br />
commitment to corporate governance and sustainability<br />
was formalised, leading to the issuance of its first Sustainability<br />
Report in 2016, adhering to GRI standards.<br />
In 2018, as the UAE celebrated the Year of Zayed, Al<br />
Naboodah marked ‘60 Years of Excellence’ since its inception.<br />
The group continued to build on its sustainability<br />
vision, issuing its second GRI-compliant Sustainability<br />
Report and securing the Happiest Working Environment<br />
award for the second consecutive year.<br />
Aligned with the UAE Vision 2021 and National Innovation<br />
Strategy, 2019 saw the launch of Al Naboodah’s Smart<br />
Cities business, focusing on Smart Buildings and Smart<br />
Mobility. Adding to its public transportation portfolio,<br />
the group introduced the RTA Optare Solo, a UK-manufactured<br />
low-floor city bus developed in partnership with<br />
the Roads & Transport Authority.<br />
With an extensive range of offerings, including agriculture,<br />
automotive, construction, electrical, logistics,<br />
real estate, and more, Al Naboodah Group Enterprises,<br />
under the visionary leadership of its Chairman, continues<br />
to thrive as a beacon of excellence, sustainability, and<br />
innovation, with an annual revenue of $2.71 billion and<br />
a commitment to shaping a brighter future for the UAE<br />
and beyond.<br />
32 www.thefinanceworld.com <strong>February</strong> <strong>2024</strong>
Change language