Finance World Magazine| Edition: February 2024

Cover Story
Family Traditions,
Business Triumphs:
UAE’s Core Enterprises
Buti Obaid Al Mulla
Chairman, Mohamed & Obaid AlMulla Group
Sector: Diverse | Establishment: 1942
The Mohamed & Obaid AlMulla Group stands as
a testament to the rich heritage, cultural pride,
and modern progress that define the United Arab
Emirates. An embodiment of success that intertwines
tradition with contemporary approaches, the group is a
dynamic force in the UAE’s business landscape, with a
legacy dating back to 1942.
Founded as a private, family-owned business in the
construction sector, the Mohamed & Obaid AlMulla Group
has evolved into one of the UAE’s most dynamic business
entities, showcasing a blended approach to success.
The second generation of the AlMulla family now leads
the group, upholding the mission and vision set by their
forefathers. Early on, the group became a role model for
incorporating corporate governance laws, positioning itself
as a forward-thinking entity in its business operations.
The group’s diversified portfolio spans strategic sectors
crucial to Dubai’s international fame. From its roots
in construction, the Mohamed & Obaid AlMulla Group
has expanded into hospitality, healthcare, real estate,
and travel & tourism, establishing iconic brands in each
domain. The AlMulla Plaza and the American Hospital,
offering robotic surgery services, are just a few examples
of their impactful contributions to the healthcare and
real estate sectors.
Operating with a profound sense of patriotism and
pride for the UAE’s values, the AlMulla Group’s growth
is intricately linked with the nation’s progress over
seven decades. With divisions in healthcare and pharmaceuticals,
hospitality, and real estate, the group plays
a significant role in the economic fabric of the UAE. The
American Hospital, Monrol U.A.E., Unimed, and Stay Well
Pharmacies contribute to the healthcare division, while
Ishraq Hospitality and AlMulla Travel & Tourism enrich
the hospitality portfolio. Real estate projects, including
AlMulla Plaza, further underscore the group’s commitment
to Dubai’s development.
Under the leadership of Mr. Buti Obaid AlMulla, the
Chairman, the group embraces a progressive and goal-oriented
outlook. The values inherited from the forefathers,
rooted in culture and heritage, guide the group as it prepares
for an international take-off, aligning itself with its
global counterparts.
With interests in healthcare, hospitality, real estate,
and travel and tourism, the Mohamed & Obaid AlMulla
Group has left an indelible mark on the UAE’s economic
landscape. From successful robotic surgeries at the American
Hospital to owning stakes in prominent companies
like Dubai Insurance and Emirates Investment Bank, the
group’s influence is far-reaching. Employing 3,000 people
and contributing significantly to various sectors, the
Mohamed & Obaid AlMulla Group continues to shape the
UAE’s business narrative with a perfect blend of tradition
and modernity.
34 www.thefinanceworld.com February 2024