Top 100 Expat Business Leaders 2024 | Finance World Magazine
As another remarkable year, 2024 comes to an end, we proudly unveil the Top 100 Expat Business Leaders, celebrating the individuals who have shaped industries and driven progress across the UAE. From technology and real estate to finance and healthcare, these visionaries embody global expertise, innovation, and leadership in a nation that champions opportunity and growth. Their stories are a powerful reminder of how courage, vision, and relentless challenging work can reshape the boundaries of what's possible.
As another remarkable year, 2024 comes to an end, we proudly unveil the Top 100 Expat Business Leaders, celebrating the individuals who have shaped industries and driven progress across the UAE. From technology and real estate to finance and healthcare, these visionaries embody global expertise, innovation, and leadership in a nation that champions opportunity and growth. Their stories are a powerful reminder of how courage, vision, and relentless challenging work can reshape the boundaries of what's possible.
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One way to keep momentum going is
to constantly have greater goals.
Editor’s Note
As 2024 draws to a close, Finance World Magazine
presents the Top 100 Expat Business Leaders, a
celebration of individuals who have played significant
roles in shaping industries and communities across the UAE
and beyond.
The United Arab Emirates has firmly established itself
as a global hub for business and innovation, offering an
environment that fosters success. With forward-thinking
policies, world-class infrastructure, tax-friendly incentives,
and strategic free zones, the UAE continues to attract global
talent and empower individuals to thrive. It is this unique
ecosystem, built on ambition, diversity, and opportunity, that
has enabled these leaders to make a lasting impact.
The individuals featured in this edition bring a wealth of
expertise, vision, and cultural intelligence. Their journeys
reflect a rich tapestry of experiences across industries such
as technology, real estate, finance, healthcare, energy, and
many others. Some arrived in the UAE with bold dreams
and built success from the ground up, while others brought
global insights that have helped transform existing industries.
Despite their varied paths, they all share a belief in the UAE
as a land of possibility and a commitment to contributing to
its ongoing success.
These stories are not just about professional achievements.
They are about perseverance, innovation, and the power of
blending global experience with local understanding to create
meaningful progress. Together, they demonstrate how the
UAE’s dynamic business landscape has become a catalyst
for growth and a model for excellence, driving forward both
national and global progress.
This edition is a tribute to their contributions, their
leadership, and their vision. At Finance World Magazine, we
remain dedicated to recognizing the individuals and ideas
that inspire change, drive growth, and set new standards
for success.
MCFILL MEDIA &
PUBLISHING MCFILL GROUPMEDIA &
PUBLISHING GROUP
- Ambrish Agarwal, Editor in Chief
- Ambrish Agarwal, Editor in Chief
Published by and © McFill Media & Publishing Group FZE LLC
Published by and © McFill Media & Publishing Group FZE LLC
Dec 2024 www.thefinanceworld.com 7
Contents Dec
2024
Page 54 | P.N.C Menon
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Abdulla A. Ajmal
Andrew Cook
Ahmed Abdelaal
Alex Zagrebleny
Ashraf El Afifi
Ahmed Elsheikh
Amnah Ajmal
Ankur Aggarwal
Atiq Rehman
Dr. Anand Menon
Atul Ahuja
Antonoaldo Neves
Dr. Aftab Hassan
Dr. Azand Moopen
Bal Krishen
Bharat Bhatia
Deepak Arora
Dilip Rajakarier
Dr. Dhananjay M. Datar
Erika B. Doyle
Eugene Mayne
Faizal E. Kottikollon
Feroz Allana
Farhad Azizi
Fadi Ghandour
Fazeela Gopalani
Geoffrey Alphonso
Imran Ali Khan
Huda Kattan
Dr. J.R Gangaramani
James Mathew
Jacky Punjabi
Joy Alukkas
Kami Viswanathan
Page 37 | Hatem Dowidar
Page 79 | Dr. Zulekha Daud
8 www.thefinanceworld.com Dec 2024
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Kabir Mulchandani
Khaled Soliman
Ludmila Yamalova
L.T Pagarani
Linda Fitz-Alan
Lewis Allsopp
Mazen Nahawi
Masih Imtiaz
Manoj Sureka
Manohar Lahori
Mohan G Valrani
Michel Ayat
Mudassir Sheikha
Naser Taher
Naresh K. Bhawani
Nawab Shaji Ul Mulk
Neelesh Bhatnagar
Neeraj Teckchandani
Neil Petch
Nicholas Watson
Ola Doudin
Phil Malem
Paras Shahdadpuri
Raheel Ahmed
Paul Griffiths
Patrick Chalhoub
Captain Pradeep Singh
Pavan Sharma
Rajen A. Kalichand
Ramesh Ramakrishnan
Ramy Jallad
Renuka Jagtiani
Rita Huang Zhen
Robby Thommy
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Ritesh Tilani
Ross Veitch
Ronaldo Mouchawar
Russell Mehta
Samer Abu Ltaif
Sahar Cooper
Sameh Muhtadi
Santosh Varghese
Scott Macfarlane
Shamlal Ahamed
Shayne Keith Nelson
Selim Kervanci
Sohan Roy
Sunil Vaswani
Surender S. Kandhari
Shamsheer Vayalil
Sunny Varkey
Sir Tim Clark
Thierry Sabbagh
Tom Harvey
Thomas Lundgren
Dr. Thumbay Moideen
Yogesh Bulchandani
Yasser Abdul Malak
Yusuff Ali M.A.
Zubin Karkaria
Ziad El Chaar
Page 24
Dr. Ali Asgar Fakhruddin
Page 68 | Shaista Asif
Dec 2024 www.thefinanceworld.com 9
WEALTH IS NOT MONEY.
WEALTH LIES IN MEN.
THIS IS WHERE TRUE
POWER LIES, THE POWER
THAT WE VALUE.
SHEIKH ZAYED BIN SULTAN
AL NAHYAN
FORMER PRESIDENT OF THE UAE AND RULER OF ABU DHABI
THE UAE AIMS TO BOLSTER
ITS RELATIONS WITH OTHER
COUNTRIES BASED ON THE
PRINCIPLES OF TRUST, MUTUAL
RESPECT, AND CONSTRUCTIVE
COOPERATION THAT SERVES
THE INTERESTS OF ALL.
SHEIKH MOHAMED BIN
ZAYED AL NAHYAN
PRESIDENT OF THE UAE AND RULER OF ABU DHABI
OUR PRIDE STEMS
FROM THE FACT THAT WE
ARE A COUNTRY WHERE
EVERYONE THRIVES
EQUALLY REGARDLESS
OF THEIR DIFFERENCES
SHEIKH MOHAMMED BIN RASHID
AL MAKTOUM
VICE-PRESIDENT AND PRIME MINISTER OF THE UAE, RULER OF DUBAI
Top 100 Expats
ABDULLA A.
AJMAL
Chief Executive Officer
Ajmal Perfumes
HIGHLIGHTS
Year of Establishment:
1951
Nationality:
Indian
Industry:
Beauty
Awards & Recognition:
Retail ME Icon Trailblazers
2022
Born in Mumbai and raised between India and the UAE,
Abdulla represents a new generation of business leaders
who respect their roots while embracing modern
innovations. His journey with Ajmal Perfumes is more than
just a career path; it’s a mission to carry forward a 73-year-old
family legacy of creating exceptional fragrances.
Under his leadership, Ajmal Perfumes has expanded from
a traditional oriental perfumery to a comprehensive lifestyle
brand available in over 60 countries and across 350 retail
outlets. The first store was opened in 1976 at Murshid Bazaar,
ever since his strategic approach has been to honour the company’s
heritage while simultaneously pushing its boundaries.
Abdulla’s international experience, including time spent in
the UK, has been instrumental in his approach. He introduced
a French-aligned fragrance line and developed a broader
product range that has helped Ajmal Perfumes appeal to a
global audience. His vision extends beyond selling perfumes;
he aims to create an immersive brand experience that resonates
with consumers worldwide.
Tracing back to its roots, the company began with the
world’s oldest form of fragrance – perfume oils. Inspired by
the rich oriental traditions, Ajmal has created a unique niche
in Middle Eastern perfumery. Abdulla has been instrumental
in expanding this legacy, transforming the brand from a local
enterprise to a multi-million-dollar global entity. Technology
and innovation are at the heart of Abdulla’s strategy. He is
particularly excited about how artificial intelligence and new
technologies revolutionise the fragrance industry. “We are
not just selling perfumes,” he says, “we are creating global
essences that tell stories and connect people.”
Abdulla’s commitment to the company’s values remains
deeply rooted in the foundation laid by his grandfather, Haji
Ajmal Ali. He often speaks about how the value system established
over 70 successful years continues to be his “north
star.” While embracing modern strategies, he continues to
honour the traditional craftsmanship that made Ajmal Perfumes
a respected name in perfumery. From perfume oils
to sophisticated fragrances, the brand continues to evolve
under his guidance.
His journey is a compelling narrative of how family
businesses can transform and thrive in a rapidly changing
global marketplace. With his innovative approach and deep
understanding, Abdulla is crafting a new chapter in the art
of fragrance. With his innovative approach and deep understanding
of both heritage and innovation, Abdulla is crafting
a new chapter in the art of fragrance.
16 www.thefinanceworld.com Dec 2024
Top 100 Expats
AHMED ABDELAAL
Group Chief Executive Officer
Mashreq Bank
Since 2019, the leadership of Mashreq Bank has been
marked by a visionary approach to digital transformation,
with a strong focus on innovation and customer-centric
solutions. Under his guidance, the bank has emerged as a
“challenger bank,” achieving record profits of $1B in 2022,
with significant contributions from its digital platforms such
as Neo, NeoBiz, and Neopay, which saw remarkable growth.
He has also led Mashreq’s expansion into sustainable finance,
facilitating over $15B in sustainability-linked investments in
the UAE, Egypt, and India, and securing a landmark $2.2B
loan for Bahrain’s Nogaholding.
A key proponent of digital-first banking, his strategy blends
technologies like AI, blockchain, and augmented reality to
enhance customer experience. Additionally, programs like
iValue empower employees to bring transformative ideas to
life, further strengthening Mashreq’s position in the market.
Abdelaal has also focused on expanding Mashreq’s global
footprint, particularly in emerging markets like Egypt and Pakistan,
while promoting financial inclusion through innovative
digital banking solutions. His efforts have established Mashreq
Bank as a leading figure in the rapidly evolving fintech space.
ANDREW COOK
Co-Founder and Chief Operating Officer
The Twedex Group
Andrew Cook is the Co-founder and Chief Operating Officer
of The Twedex Group, a market leader in education
that has evolved from an educational tours company
to a diverse provider of student development programs. Since
co-founding Twedex, Andrew has played a pivotal role in driving
its expansion and commercial success, establishing the
company as a key partner for schools across the Middle East.
Initially focused on educational tours, Twedex diversified
under Andrew’s leadership to offer a broad range of programs
aimed at building student confidence, character, and resilience.
This strategic shift has positioned Twedex as an industry
leader in leadership development and experiential learning,
with a growing presence across the region.
His vision and operational expertise have been crucial in
Twedex’s growth, forming strong partnerships with leading
educational institutions and expanding the company’s reach.
Today, Twedex’s innovative programs empower students with
valuable skills that extend beyond the classroom, making a
lasting impact on their personal and academic development.
Andrew continues to lead Twedex’s evolution, positioning the
company for sustained growth in the global education space.
Dec 2024 www.thefinanceworld.com 17
Top 100 Expats
ALEX ZAGREBELNY
Owner and Member of the Board
R.Evolution Group
As the founder and chairman of
R.Evolution Group, Alex Zagrebelny
has been at the forefront of redefining
digital transformation in the real
estate and architectural sectors. With a
career spanning over two decades, he
has successfully steered the company
into becoming a global leader in offering
innovative and sustainable solutions to
numerous Fortune 500 companies. Zagrebelny’s
extensive experience in digital
strategy and business development has
been key to R.Evolution Group’s success,
helping it expand its influence across
industries such as technology and retail.
Under his leadership, the company has
grown its client base and global presence,
with notable projects like the Eywa development
in Dubai, which emphasizes
health and sustainability.
ASHRAF EL AFIFI
President - India, Middle East and Africa (IMEA)
Henkel
With a career spanning over three
decades, Ashraf El Afifi has been
instrumental in shaping Henkel’s
success in the India, Middle East, and
Africa (IMEA) regions. He began his
journey with Henkel in Egypt in 1992 as a
brand manager, quickly rising through the
ranks due to his leadership acumen and
deep understanding of diverse markets.
El Afifi’s trajectory within Henkel has
been remarkable, culminating in 2011
when he became one of the company’s
top 30 executives, making history as the
first to be promoted from an emerging
market. Since becoming President of
Henkel IMEA in 2010, Ashraf El Afifi has
driven the company’s growth, expanding
its portfolio and focusing on customer
and consumer satisfaction. His strategic
vision has ensured Henkel’s leadership
across beauty care, and more with continued
success in emerging markets.
AHMED ELSHEIKH
Chief Executive Officer
PepsiCo Middle East
Ahmed El Sheikh leads PepsiCo’s
operations in the Middle East as
CEO, managing the company’s
snacks, nutrition (Quaker), and beverage
portfolios. He is instrumental in driving
PepsiCo’s Positive (pep+) strategy in the
region, which integrates sustainability
and human capital development into
the company’s core business approach.
Based in Riyadh, Ahmed brings an impressive
three-decade career in fast-moving
consumer goods (FMCG). His journey
with PepsiCo began in 2001, during which
he has held leadership positions across
multiple countries including Egypt,
Jordan, Saudi Arabia, and most recently
India, where he served as President and
drove significant business growth and
sustainability efforts. Academically, he
holds a bachelor’s degree in business
administration and has completed the
Columbia Senior Executive Program.
18 www.thefinanceworld.com Dec 2024
Top 100 Expats
AMNAH
AJMAL
Executive Vice President, Market Development
Mastercard, EEMEA
HIGHLIGHTS
Year of Establishment:
1966
Nationality:
Pakistani
Industry:
Banking
Awards & Recognition:
Top 100 Women in Fintech
across the Globe
In a world where financial landscapes shift like desert
sands, Amnah Ajmal emerges as a formidable architect of
change, transforming challenges into stepping stones of
remarkable achievement. Currently serving as the Executive
Vice President of Market Development at Mastercard for the
EEMEA region, her story is not just a career trajectory—it’s
a powerful testament to the art of reinvention.
Prior to joining Mastercard she was heading the consumer
bank franchise for Standard Chartered Malaysia responsible
for end-end P&L. She was also responsible for retail banking
strategy for Indonesia, Malaysia and Taiwan in a global role
based out of Singapore. With an impressive career spanning
global financial institutions, Ajmal has consistently demonstrated
an exceptional ability to navigate complex business
landscapes. From leading the North American product and
innovation organization to her pivotal roles at Standard
Chartered and Citigroup, she has crafted a career marked
by strategic excellence and groundbreaking achievements.
Her expertise spans multiple domains, including managing
profit and loss across 80 markets, driving digital innovation,
and leading strategic initiatives in consumer banking.
What distinguishes Ajmal is not just her professional accomplishments,
but her profound commitment to personal and
professional reinvention. As the first woman in her family to
pursue a career in financial services, she has shattered multiple
glass ceilings. Armed with a master’s degree from the London
School of Economics, she has transformed challenges into
opportunities, continuously adapting to the rapidly evolving
global financial ecosystem.
Her professional philosophy is rooted in humility and continuous
learning. Ajmal believes in the power of disrupting
oneself, surrounding oneself with intelligent individuals, and
embracing change as a catalyst for innovation. This approach
has enabled her to drive transformative strategies across
multiple business verticals, from merchants and telcos to
governments and digital platforms.
Beyond her professional achievements, Ajmal is a passionate
advocate for women’s empowerment and gender equity. Her
journey represents more than personal success; it’s a beacon
of inspiration for aspiring female professionals. She ardently
believes in creating opportunities for the next generation,
ensuring that her daughter and other young women can access
broader professional horizons. From her early days at Citibank
to her current role at Mastercard, Ajmal has consistently
demonstrated that true leadership is about adaptability, and
an unwavering commitment to driving meaningful change.
Dec 2024 www.thefinanceworld.com 19
Top 100 Expats
ANKUR
AGGARWAL
Chairman & Founder
BNW Developments
HIGHLIGHTS
Year of Establishment:
2021
Nationality:
Indian
Industry:
Real Estate
Awards & Recognition:
5th Global Business Icon Awards
Dubai 2024 in the category of
Real Estate, and many others
Born in Delhi, ’s life story is of relentless ambition,
strategic vision, and a deep commitment to making a
positive impact. Growing up in a middle-class family,
he was instilled with the values of hard work, integrity, and
perseverance. These principles became the foundation of
his inspiring journey from humble beginnings to becoming
a visionary leader in the UAE’s luxury real estate sector.
Despite his meteoric rise, Ankur remains deeply connected
to his roots, grounded in humility and guided by a spiritual
inclination that informs his personal and professional ethos.
Ankur’s academic journey began at Delhi University, where
he pursued a Bachelor of Commerce (Hons), graduating in
2008. During his time at university, he displayed an exceptional
aptitude for numbers and financial systems, which led him to
further pursue a career in Chartered Accountancy. By 2011,
he had qualified as a Chartered Accountant (CA), a significant
milestone that marked the beginning of a transformative
professional career spanning over 15 years. In May 2021,
Ankur took a bold step by founding Bricks n Woods, which
20 www.thefinanceworld.com Dec 2024
Top 100 Expats
later evolved into BNW Developments, a
company now synonymous with luxury,
innovation, and excellence. With a clear
vision, he set out to create a real estate
enterprise that would not only redefine
the industry but also deliver unparalleled
value and experiences to its clients.
BNW Developments
quickly emerged as
a game-changer in
the luxury real estate
market, managing
assets worth an
impressive AED 16
Billion within just a
few years.”
Central to the company’s success is
Ankur’s strategic partnership with Bollywood
celebrity Vivek Anand Oberoi,
who shares his vision for redefining
the real estate landscape. Together,
they combined financial expertise with
creativity and innovation, setting new
benchmarks for excellence in property
development.
BNW Developments operates on a
unique business model that provides
end-to-end real estate solutions, catering
to high-net-worth individuals (HNWIs),
family offices, and leading financial institutions.
The company handles every
aspect of the real estate lifecycle, from
land acquisition and design to project
delivery, ensuring a seamless experience
for clients. Backed by a dedicated team
of over 400 professionals and a network
of 200 Certified Public Accountants, BNW
Developments has become a trusted name
in the industry.
Ankur’s vision for innovation is reflected
in BNW ’s remarkable portfolio,
which includes standout projects such as
“Aqua Arc” in Al Marjan Islands. These
developments embody the principles
of sustainable luxury and architectural
brilliance, reshaping urban landscapes
and creating lifestyle experiences that
resonate with modern consumers. Under
his leadership, BNW has expanded its
operations beyond the UAE to India,
Russia, and other international markets,
solidifying its position as a global brand
in luxury real estate.
The company’s success is further bolstered
by its compliance with RERA-certified
practices, which ensure transparency
and trustworthiness in all its dealings.
Leveraging advanced technology and
innovative marketing strategies, BNW
navigates the complexities of the real
estate market while delivering exceptional
value to its clients.
Beyond his professional achievements,
Ankur is a strong advocate for social
responsibility. He believes that businesses
must contribute to the betterment
of society. Under his leadership, BNW
Developments actively promotes women’s
empowerment, fosters workplace
inclusivity, and supports community
development projects. These initiatives
reflect his commitment to ethical growth
and his vision of creating a positive
societal impact. With a solid grounding
in legacy business models, his goal is to
construct companies that remain strong
and relevant over time. He emphasizes a
strategic approach, balancing short-term
goals with a long-term vision and makes
sure that everyone knows exactly what to
expect and has a clear and well-defined
exit strategy before even entering into
a project.
Ankur’s dedication to his craft and
his community has earned him numerous
accolades. He has been honoured
with the Global Business Award, Icons
of the UAE, and the Leadership Award
by prominent media organizations. In
2023-2024, he was named Global Indian
of the Year and more.
In addition to his business ventures,
Ankur shares his expertise and inspires
others through the “Bricks to Brilliance”
convention. This influential platform
brings together industry professionals,
investors, and developers to exchange
ideas and elevate standards in the real
estate sector. His ability to mentor and
motivate has made him a respected figure
in the business community. Ankur’s leadership
philosophy is rooted in innovation,
integrity, and inclusivity. He believes that
true success lies in creating opportunities
for others and driving meaningful change.
As the Chairman and Founder of BNW
Developments, he has consistently pushed
boundaries, introducing groundbreaking
projects and setting new standards for
luxury real estate. His collaboration with
Vivek Anand Oberoi underscores the
power of synergy in building a brand that
challenges industry norms and delivers
unparalleled value. In recent years, Ankur
has been instrumental in reshaping the
UAE real estate market, particularly focusing
on Al Marjan in Ras Al Khaimah.
His strategic collaborations have opened
new avenues for brands, investors, and
developers worldwide, further cementing
his reputation as a visionary leader.
Ankur Aggarwal’s journey is a testament
to the power of vision, perseverance,
and a genuine desire to create positive
change. Whether through pioneering real
estate projects, charitable initiatives,
or thought leadership, he continues to
inspire aspiring entrepreneurs around
the world. With his unwavering focus
on innovation and impact, Ankur’s legacy
is one of transformation, setting an
example of how entrepreneurship can
be a force for good.
About BNW Developments
BNW Developments stands out as a premier
real estate developer that transforms
innovative concepts into luxurious living
spaces. The company extends beyond
traditional real estate, demonstrating
expertise in strategic investments, project
management, and capital strategies
that drive comprehensive growth for its
partners. Established in the UAE, BNW
Developments has distinguished itself
in the competitive real estate market
through its commitment to exceptional
design and quality. BNW ‘s portfolio
encompasses many high-end residential
and commercial properties, characterised
by innovative architectural designs and
superior craftsmanship. Their developments,
such as the upcoming Aqua Arc
project on Al Marjan Island along with
the collection of ultra-luxury properties
showcase the company’s vision of creating
sophisticated living experiences.
Strategically positioned opposite the
future Wynn Resorts, this beachfront
development is anticipated to attract over
5.5 million visitors annually, positioning
it as an attractive investment opportunity
for HNWIs. The company’s partnerships
with global luxury brands and industry
leaders reinforce its reputation for delivering
premium real estate solutions
tailored to modern needs in the UAE
and beyond.
Dec 2024 www.thefinanceworld.com 21
Top 100 Expats
ATIQ REHMAN
Co-Founder
RB&A Partners
Atiq Rehman, Co-founder of RB&A
Partners, brings over 37 years of
extensive international banking
experience, primarily from his tenure
at Citigroup. During his distinguished
career at Citibank, he held various senior
leadership roles, including CEO of
Emerging Markets for the EMEA region.
His responsibilities spanned managing
complex transactions, corporate restructurings,
and infrastructure financing
across multiple regions.
Under his leadership, RB&A Partners
aims to bridge strategic gaps for clients
in emerging and developed markets,
reinforcing their position as a trusted
advisor for transformative transactions.
Rehman’s leadership style combines a
keen understanding of market dynamics
with a commitment to fostering long-term
partnerships.
DR. ANAND MENON
CEO and Success Sculptor
Empowered Performance FZ LLE
Dr. Anand Menon is the CEO of
Empowered Performance FZ
LLE, a firm that specialises in
leadership development, coaching, and
performance enhancement. He combines
business strategies with psychological
principles to deliver transformative results
for clients across various sectors. With
an Executive Doctorate in Education
Psychology, Dr. Menon has held senior
roles in management and coaching,
impacting organisations like Emirates
Airlines and DAMAC Properties. He
is known for his innovative programs,
including the ATARI Sales Impact and
Peak Performance Selling. Under his
leadership, Empowered Performance
has grown rapidly, becoming a prominent
provider of tailored coaching, workshops,
and consulting services, with a significant
presence in the Middle East .
ATUL AHUJA
Chief Technology Officer
Noventiq
With nearly 30 years of experience
in technology and business
management, Atul Ahuja has
made significant contributions to global
digital transformation. As the Chief
Technology Officer (CTO) of Noventiq,
Ahuja is responsible for driving innovation
in AI, automation, and R&D, helping
businesses adapt to an ever-evolving
digital landscape. Before this role, he
held leadership positions at Microsoft,
Citrix, and Tata Infotech. Ahuja’s expertise
played a pivotal role in expanding
Noventiq’s presence across the Middle
East, Africa, and Asia, and the company
saw a revenue of $1.6 billion in FY2023.
Under his leadership, Noventiq plans
to continue its growth and expand its
global footprint, with a focus on proprietary
technology development and
partnerships with industry leaders like
Microsoft and AWS.
22 www.thefinanceworld.com Dec 2024
Top 100 Expats
ANTONOALDO
NEVES
Group Chief Executive Officer
Etihad Aviation Group
HIGHLIGHTS
Year of Establishment:
2003
Industry:
Aviation
Nationality:
Brazilian
Antonoaldo Neves is a seasoned aviation industry leader
with an impressive track record of transforming airlines.
Currently serving as the Group Chief Executive Officer
of Etihad Aviation Group, he brings extensive experience from
previous leadership roles in the airline sector. Before joining
Etihad, Neves led TAP, Portugal’s national airline, where he
successfully turned the company around, improving customer
service and boosting passenger numbers while supporting
Portugal’s tourism growth.
Earlier in his career, he served as President of Azul Airlines
in Brazil, guiding the company to a successful initial public
offering on the New York Stock Exchange. His professional
journey also includes working as a partner at McKinsey &
Company, where he developed strategic plans for Brazil’s
aviation sector. Originally trained as a civil engineer, Neves
has strong academic credentials, holding an MBA from the
University of Virginia’s Darden School of Business and a
Master’s in Corporate Finance from PUC-Rio’s IAG Business
School. His diverse background and strategic leadership have
positioned him as a notable figure in the global aviation industry.
At Etihad Airways, Neves is driving remarkable growth,
with the airline experiencing an impressive 40% expansion in
Q1. The company has ambitious plans to achieve 30% growth
in both 2024 and 2025, leveraging strong industry credit to
facilitate fleet expansion through strategic aeroplane rentals.
The airline’s route network is strategically expanding across
Southeast Asia, the Gulf Cooperation Council (GCC) region,
Europe, and the United States.
Looking towards the future, Neves is potentially preparing
Etihad for an Initial Public Offering (IPO), focusing on key
strategic objectives such as margin expansion, demonstrating
consistent growth, and increasing financial transparency. The
company is also making significant strides in sustainability,
with a notable $13 billion investment in Brazilian biofuels,
reflecting Neves’s commitment to sustainable aviation practices.
A unique aspect of Neves’s leadership is his holistic
approach to customer experience.
He emphasizes the importance of quality across all passenger
classes, with a particular focus on enhancing comfort and
luxury even in economy class. This approach underscores
his belief that every segment of the airline’s service is crucial
to overall success. By prioritizing innovation and customer
satisfaction, he continues to be a transformative force in the
aviation industry, combining strategic leadership with a forward-thinking
approach. His vision is to make transportation
a memorable experience for all passengers.
Dec 2024 www.thefinanceworld.com 23
Top 100 Expats
DR. ALI ASGAR
FAKHRUDDIN
Chairman
Sterling Perfumes Industries LLC
HIGHLIGHTS
Year of Establishment:
1998
Nationality:
Indian
Industry:
Beauty and Fragrance
Awards & Recognition:
FTIEA 11th International Excellence
& Global Leadership
Awards 2024
Dr. Ali Asgar Fakhruddin has masterfully transformed
Sterling Perfumes Industries into a global beauty
enterprise, redefining innovation and artistry in the
industry. As a Board Member of Fakhruddin Holdings, he
guided the company’s evolution from a modest trading setup
into an innovative manufacturer in over 130 countries.
Founded in 1998, Sterling Perfumes quickly advanced from
contract manufacturing to a sophisticated brand specializing
in beauty and personal care products.
Born into a family with a rich entrepreneurial legacy, Dr.
Fakhruddin inherited more than just a business—he inherited
a vision. Fakhruddin Holdings, established in 1963 by
his father, the late Fakhruddin Ebrahimji, initially focused
on trading, cosmetics, and property development. Building
on this foundation, Dr. Fakhruddin has expanded Sterling
Perfumes into a global powerhouse with a diverse portfolio
of five distinguished brands—ARMAF, Hamidi, ARMAF
Beauté, Risala, and Cosmo Cosmetics. These brands resonate
with consumers worldwide, offering an extensive range of
high-quality products that reflect global beauty trends.
Dr. Fakhruddin’s approach to business is deeply rooted
in innovation and artistic expression. For him, beauty is a
product and a journey of storytelling and evoking emotions.
This philosophy is reflected in Sterling’s commitment to research
and development, where a dedicated team of artisans
and scientists continuously push the boundaries of fragrance
creation. Strategic global partnerships have also been pivotal
to this success. By collaborating with renowned master perfumers
like Arturetto Landi and Christian Provenzano and
working with prestigious fragrance houses such as Mane,
CPL Aromas, and Givaudan, Sterling Perfumes consistently
delivers extraordinary, multicultural fragrance experiences.
Under his visionary leadership, Sterling Perfumes has also
become a beacon of corporate social responsibility. Driven
by his belief in the power of collective action, Dr. Fakhruddin
has spearheaded initiatives that demonstrate a compassionate
approach to business. Sterling has partnered with
organizations like Magical Smiles UAE and Dubai Police to
support labour camps and distribute sanitisers, showcasing a
commitment to community welfare. An alumnus of European
International University-Paris, Dr. Fakhruddin continues to set
new benchmarks in the global beauty industry by combining
innovation, quality, and social responsibility. His leadership
has transformed Sterling Perfumes from a regional trading
company into a global brand that celebrates the art of beauty
and connects people through the art of fragrance.
24 www.thefinanceworld.com Dec 2024
Top 100 Expats
DR. AFTAB HASSAN
Founder and Chairman
Global Association of InsureTek Professionals (GAIP)
With nearly three decades of professional experience,
Dr. Aftab Hasan stands as a testament to visionary
leadership, entrepreneurial spirit, and transformative
innovation. A first-generation entrepreneur, Dr. Hasan
has been instrumental in driving multi-million-dollar growth
across diverse sectors including Energy, Offshore, Marine,
Oil & Gas, IT, and Insurance & Reinsurance. His journey is
not just about business expansion, but about fundamentally
reimagining how industries can evolve and adapt.
Dr. Hasan was among the select few who helped draft the
blueprint of modern Dubai in the 1990s, serving on steering
committees that would transform the emirate into a global
business hub. His periodic contributions to Dubai Trade Magazine
during this era offered insightful perspectives on global
economic trends that were ahead of their time.
His professional portfolio is remarkably diverse. As an
elected representative on the Insurance Business Group of the
Dubai Chamber of Commerce & Industry and a member of the
United Nations Office for Disaster Risk Reduction’s Private
Sector Alliance, Dr. Hasan bridges business innovation with
global social responsibility.
DR. AZAD MOOPEN
Chairman and Managing Director
Aster DM Healthcare
Starting with a single clinic in Al Rafa, Dubai, in 1987,
Dr. Azad Moopen transformed the healthcare landscape
across the GCC and India, creating one of the largest
healthcare networks in the region. Today, Aster DM Healthcare
includes 27 hospitals, 126 clinics, and over 302 pharmacies,
employing more than 34,000 professionals across seven
countries. Moopen’s vision focused on providing accessible,
high-quality medical care, which fueled the rapid expansion
of Aster DM Healthcare.
Moopen’s philosophy of “Healthcare with a Heart” extends
beyond business success. He founded Aster Volunteers, a
global initiative offering free healthcare services and disaster
relief to underserved communities. The program has impacted
millions by providing free surgeries, health checkups, and
support for those in need, regardless of their economic status.
Aster DM Healthcare has also led in healthcare innovation,
with Moopen championing advancements in telemedicine, particularly
during the COVID-19 pandemic, to ensure continued
care for patients remotely. His efforts to combine medical
technology with compassionate care have set new standards
in healthcare management.
Dec 2024 www.thefinanceworld.com 25
Top 100 Expats
BAL
KRISHEN
Chairman
Century Group
HIGHLIGHTS
Awards & Recognition:
Most Influential CEO in
Investment Services
Industry:
Financial Services &
Diversified
Most Promising Business
Leaders of Asia
With over two decades of senior management expertise
in the investment and financial services sector, Bal
Krishen is a visionary leader and the inspirational
force behind the Century Group. His journey began with
Century Financial and reflects a legacy of progress driven
by innovation, community empowerment, and principled
leadership. His astute business acumen and people-centric
leadership were instrumental in catapulting the phenomenal
growth of the SCA licenced Century Financial as a prominent
investment services provider in the UAE. He subsequently
also introduced Century Private Wealth, a DFSA-regulated
asset and wealth Management firm.
His visionary leadership led to further diversification and
expansion across many varied businesses evolving into the
creation of the Century Group—a diversified global enterprise
with a robust presence in real estate, technology, banking
solutions, insurance, manufacturing, logistics, and beyond.
Krishen’s strategic foresight continue to shape industries,
foster growth, and deliver impactful solutions across global
markets.
Bal Krishen’s leadership style emphasizes empowering
people, fostering a high-performance culture, and maintaining
agility in dynamic markets. His unwavering commitment to
integrity and transparency has strengthened trust among clients
and stakeholders, further cementing the Group’s reputation
as a trusted partner. Beyond business, Bal Krishen is deeply
committed to uplifting communities and driving meaningful
change. As a part of his Social and community endeavours,
he champions initiatives that enhance financial literacy for
the underprivileged, creates opportunities for underserved
communities, and promote environmentally conscious practices.
His philanthropic, community, and sustainability commitments
reflect his dedication to leaving a positive impact
on society. Recognized for his transformative leadership,
Bal Krishen has received numerous industry accolades,
highlighting his exceptional contributions to the industry. His
vision, resilience, and passion for excellence have shaped the
Century Group into a pioneering organization that empowers
individuals, fosters innovation, and drives progress, ensuring
its enduring legacy as a global leader.
About Century Group
Century Group is an executive recruiting and professional
staffing firm specializing in accounting and finance talent for
Fortune 500 enterprises, and more. With a comprehensive
portfolio including Century Financial, Century Private Wealth,
Century Bank Brokers, Century Info Tech, and CenturyIQ
Solutions, they provide diverse professional services.
26 www.thefinanceworld.com Dec 2024
Top 100 Expats
BHARAT BHATIA
Founder and CEO
Conares
The Founder and CEO of Conares, Bharat Bhatia, has
made significant contributions to the UAE’s industrial
sector, particularly in steel manufacturing. Beginning
his journey in 1988 with Conares as a steel trading company,
his leadership transformed it into one of the region’s largest
steel producers, with a production capacity of 1.5 million
tonnes annually. Conares manufactures key products such as
rebar, steel pipes, and colour-coated coils, supporting major
infrastructure projects like the Dubai Metro, Etihad Rail, and
Expo 2020.Under Bharat Bhatia’s guidance, the company expanded
its manufacturing capacity, including the development
of a state-of-the-art steel plant to enhance self-sufficiency.
Conares has also made strides in sustainability, aiming to
become a “green steel producer” by reducing its carbon
footprint through advanced technologies. Diversifying into
real estate and the food and beverage sectors, the company’s
strategic $200 million investment in raw materials production
further strengthens its market position and reduces reliance
on external suppliers. His commitment to social responsibility
is reflected in the Conares Foundation, which supports
initiatives in education, healthcare, and welfare.
DEEPAK ARORA
Managing Director
DRA Group Of Companies
When Deepak Arora arrived in Dubai as a young architecture
graduate in 1976, few could have imagined the
transformative impact he would have on the region’s
construction industry. His journey from a newcomer to a pioneering
entrepreneur is a testament to vision, resilience, and
strategic innovation. In 1980, Arora took his first bold step,
registering his initial contracting company in Ras Al Khaimah.
This marked the beginning of what would become the DRA
Group, a powerhouse of construction and design that would
go on to reshape Dubai’s architectural landscape.
Today, the group’s portfolio is remarkably diverse—from
elegant villas and sophisticated office complexes to sophisticated
manufacturing facilities, expansive warehouses, and
critical power stations. Recent landmark projects include
Emirates Airline’s massive call centre, the Emirates Aviation
College for Aerospace and Academic Studies, and the overflow
centre for dnata’s cargo business at Dubai Airport Free Zone.
DRA Group specializes in steel and concrete structures,
having established itself as a frontrunner in infrastructure
development across the Middle East. Deepak Arora’s journey
reflects the very essence of Dubai’s transformative spirit.
Dec 2024 www.thefinanceworld.com 27
Top 100 Expats
DILIP
RAJAKARIER
Group Chief Executive Officer & CEO
Minor International & Minor Hotels
HIGHLIGHTS
Year of Establishment:
1978
Nationality:
Sri Lankan
Industry:
Hospitality
Awards & Recognition:
Outstanding CEO - Investment
Analysts Association 2024
From a modest portfolio of 12 hotels in Southeast Asia to
a global hospitality powerhouse spanning 536 hotels and
resorts in 56 countries, Dillip Rajakarier has emerged
as a transformative leader in the international hospitality
industry. His journey with Minor International began in 2007
as Chief Finance & Investment Officer, quickly ascending
through the ranks with promotions to COO in 2008 and CEO
of Minor Hotels in 2011, before being appointed Group CEO
in January 2020. He has driven the company’s rapid global
expansion, which today includes more than 550 properties
in 60 countries.
A strategic visionary with a background in finance and
information technology, Rajakarier has been instrumental in
reimagining what a modern hospitality company can be. Under
his leadership, the company’s core Anantara brand has grown
from just a handful of properties to a leading operator with
43 luxury properties in operation. His dealmaking prowess
is particularly evident in landmark acquisitions that have
reshaped the company’s global presence.
The 2018 acquisition of NH Hotel Group stands out as a
pivotal moment, this strategic move transformed Minor International
(MINT) into a truly global hospitality company,
expanding its footprint across the Middle East, Asia Pacific,
Europe, South America, Africa, and the Indian Ocean.
Rajakarier’s leadership was particularly tested during the
COVID-19 pandemic, a period that would have challenged
even the most experienced executives. Instead of merely
surviving, he guided Minor International to its best-ever
financial results in 2022, a testament to his strategic resilience
and forward-thinking management. The group plans
to open 200+ hotels in the next three years, which will add
about 40,000 rooms. They have a strong pipeline, with about
80 hotels already in progress.
A true global citizen, Rajakarier spent over two decades
in London before relocating to Bangkok, bringing with him a
unique international perspective. His role extends far beyond
traditional leadership, overseeing the company’s overarching
strategy across all business units, including corporate shared
services of legal, IT, and finance, as well as talent development
and business culture. With a mandate to expand MINT’s
core businesses—hospitality, restaurants, and lifestyle—into
globally recognized leaders, Rajakarier continues to push
the boundaries of what a modern hospitality company can
achieve. His journey exemplifies how visionary leadership,
technological understanding, and strategic thinking can
transform a regional player into a global powerhouse
28 www.thefinanceworld.com Dec 2024
Top 100 Expats
DR. DHANANJAY
M. DATAR
Chairman & Managing Director
Adil Trading
HIGHLIGHTS
Year of Establishment:
1984
Nationality:
Indian
Industry:
Retail
Awards & Recognition:
Bharat Ratna Dr. Babasaheb
Ambedkar Award 2024
Dr. Dhananjay Datar’s extraordinary journey is a testament
to entrepreneurial resilience and vision. Landing
in Dubai in 1984 with just $8 in his pocket and a
dream to expand his father’s small grocery store, Datar has
transformed Adil Trading into a sprawling spice and food
empire that spans the Gulf Cooperation Council and beyond.
Known as the ‘King of Spice’, Datar has built a remarkable
business ecosystem that imports and exports a diverse range
of products including spices, flours, pulses, rice, pickles, nuts,
and dried fruits. His Mumbai-based company, Masala King
Exports, has become a cornerstone of his business strategy,
supplying a network of 26 supermarkets across the UAE and
India, and serving prestigious clients like Dubai Duty-Free
and five-star Dubai hotels.
Datar’s success is rooted in a simple yet powerful philosophy:
determination, honesty, customer service, and courtesy.
Starting with the trust of the Indian expatriate community,
he quickly understood the importance of providing the
right products at the right time. This keen understanding of
customer needs transformed a small family business into a
billionaire enterprise.
The company’s growth has been strategic and family-driven.
His wife Vandana serves as the financial director, bringing
financial discipline and management expertise. Their sons,
Hrishikesh and Rohit, have introduced cutting-edge technologies
like artificial intelligence, e-commerce, and online
marketing to the business.
Beyond business, Datar has established special trade routes
across multiple countries, including the USA, Canada, Kenya,
Switzerland, Italy, and several Gulf nations. His entrepreneurial
spirit extends to supporting young Indian entrepreneurs,
helping them export their products to Gulf markets. He has
been recognized for his philanthropic work, generously donating
to orphanages, schools for underprivileged children,
and social welfare projects. His efforts were acknowledged
with a special award for social entrepreneurship by Master
Deenanath Mangeshkar Smruti Prathishthan in Mumbai.
Looking forward, Datar aims to expand the company’s organic
produce, reflecting a commitment to providing healthier
food options and encouraging a better lifestyle for people in
the GCC. From a 19-year-old with $8 to a respected business
magnate, Dr. Dhananjay Datar’s story is a powerful narrative
of immigrant entrepreneurship, strategic growth, and unwavering
commitment to quality and service. His journey from a
humble beginning to becoming a successful business leader
continues to inspire many.
Dec 2024 www.thefinanceworld.com 29
Top 100 Expats
ERIKA
B. DOYLE
Founder and Managing Director
Drink Dry
HIGHLIGHTS
Year of Establishment:
2021
Nationality:
Lithuanian
Industry:
Foods and Beverages
Awards & Recognition:
Entrepreneur Woman SME
Leaders Award for F&B
Leader 2022
Erika Doyle is the visionary founder and Managing
Director of Drink Dry, the UAE’s first and only non-alcoholic
drinks marketplace. What began as a personal
frustration with the lack of premium alcohol-free drinks in
the region has transformed into a groundbreaking business
that is reshaping beverage consumption in the Middle East.
Launching Drink Dry in February 2020, just as the global
pandemic was unfolding, Doyle faced unprecedented challenges.
However, she approached these obstacles with a characteristic
blend of determination and strategic thinking. Instead of rushing
to market, she took time to build solid foundations, working
closely with local authorities to ensure product compliance
across retail, hospitality, and export channels. This meticulous
approach became Drink Dry’s most significant unique
selling point, establishing the company as the go-to expert
in non-alcoholic beverages. Her entrepreneurial journey was
initially a one-woman show, with Doyle handling every aspect
of the business. From those early days, she has grown Drink
Dry into a dynamic team of passionate professionals. She
takes particular pride in the talented group she now manages,
finding inspiration in their expertise and commitment to the
company’s mission of bringing sophisticated, adult-targeted
zero-alcohol alternatives to the market.
The business’s growth has been remarkable. As a non-drinker,
Doyle’s motivation was deeply personal. She recognized a gap
in the market for premium, adult-oriented alcohol-free drinks
and was determined to fill it. Her approach went beyond simply
selling products; she aimed to revolutionize the drinking
culture in the Middle East, offering sophisticated alternatives
that look and taste like their alcoholic counterparts.
Doyle embodies the changing landscape of entrepreneurship
in the region. She is part of a new wave of startup founders
who are making the ecosystem more inclusive and encouraging
women to lead innovative changes. Her philosophy of facing
fears head-on and turning challenges into opportunities has
been crucial to her success. From navigating complex regulatory
environments to building a comprehensive non-alcoholic
beverage marketplace, Doyle has consistently demonstrated
resilience, creativity, and a commitment to her vision. As Drink
Dry continues to grow and expand, she stands as a pioneering
entrepreneur who has not just created a successful business
but is actively changing perceptions about non-alcoholic
beverages in the Middle East. By emphasizing sustainability
and innovation, she has redefined consumer expectations for
non-alcoholic products. Erika Doyle’s journey is a testament
to how visionary leadership can reshape industries.
30 www.thefinanceworld.com Dec 2024
Top 100 Expats
EUGENE MAYNE
Founder and Group CEO
Tristar Group
Starting with three used trucks in
1998 in Dubai, Tristar Group has
grown into a global leader in integrated
liquid logistics. Today, the company
operates over 1,000 road tankers,
pick-ups, and flatbed trailers across the
Middle East, Africa, and Asia. With a
presence in 12 countries, including the
Pacific island of Guam and Haiti, Tristar
serves the petroleum and chemical
industries. The company employs more
than 1,800 people and has experienced
a consistent compounded annual growth
rate of 30% under the leadership of its
CEO. In addition to its logistics services,
Tristar offers specialized warehousing in
the GCC and owns a fleet of four lube oil
barges in the UAE, chartered to major oil
companies. Committed to sustainability,
Tristar is actively adopting green practices
to minimize its environmental footprint.
FAIZAL E. KOTTIKOLLON
Founder and Chairman
KEF Holdings
In the late 1990s, Faizal E. Kottikollon
founded Emirates Techno Casting
(ETC), one of the world’s three most
technologically advanced foundries
specializing in valve casting. By 2012,
ETC was sold to Tyco International for
over $400 million, and Kottikollon used
the capital to establish KEF Holdings,
a DIFC-based firm focused on offsite
manufacturing technology across industries
like healthcare, education, sports,
and agriculture. Apart from his business
ventures, Kottikollon is a committed humanitarian.
As the co-founder and director
of the Faizal and Shabana Foundation,
he works on creating sustainable initiatives
aimed at building a more equitable
society. His philanthropic efforts reflect
his deep commitment to giving back and
fostering positive social change.
FEROZ ALLANA
Director
IFFCO Group of Companies
From bagels to ketchup and cake
mix to margarine, IFFCO, founded
in 1975, stands as one of the Gulf’s
largest and most successful food manufacturing
and distribution companies.
The company operates across various
sectors, including FMCG, commodities,
oils, frozen foods, and institutional
services, and also produces related
derivatives and intermediates. Some
of IFFCO’s well-known brands include
London Dairy, Tiffany, Noor, Rahma,
Igloo, and Al Baker.
But IFFCO is only one part of the Allana
family’s success story. In India, Allana
Sons Ltd is a global leader, with interests
spanning food production, marine
products, retail, pet foods, and product
distribution. His vision and business
acumen not only drive his business but
also ensure his expertise is utilized by
the Indian government.
Dec 2024 www.thefinanceworld.com 31
Top 100 Expats
FARHAD
AZIZI
Chief Executive Officer
Azizi Developments
HIGHLIGHTS
Year of Establishment:
2007
Nationality:
Afghani
Industry:
Real Estate
Awards & Recognition:
Middle East Property
Developer of the Year
Farhad Azizi stands as a dynamic entrepreneur whose
professional journey spans multiple sectors, with real
estate development at the heart of his success. As the
CEO of Azizi Developments, he has transformed the company
into Dubai’s premier real estate developer, creating thousands
of residential and commercial properties that have reshaped
the city’s skyline. His roots in Dubai, combined with international
education and experience, have positioned him as
a truly global business leader.
By leveraging his keen business insights, Azizi has elevated
Azizi Developments to a prominent position in the regional
real estate market, garnering significant recognition and
prestigious awards. With a robust academic background,
Azizi brings a global perspective to his work. He completed
his undergraduate studies in International Business and
Languages at the University of Tulsa in Oklahoma and later
earned a Master’s in Business Administration from Suffolk
University in Boston. His linguistic versatility is notable,
with fluency in English, Pashto, and Farsi, complemented
by conversational skills in German, French, Russian, Hindi,
and Arabic – a testament to his international outlook and
cultural adaptability.
Growing up in Dubai and educated both locally and internationally,
Farhad’s path is a blend of cultural experiences. After
graduating from the University of Tulsa and completing his
MBA in Finance Management from Boston-Suffolk University,
he established a successful business footprint in Germany.
His international background allowed him to bring a unique
perspective back to the UAE, where he took the helm of his
family’s businesses with a vision of unprecedented growth.
Customer satisfaction drives Farhad’s approach to business.
His hands-on, transparent leadership style has become a
hallmark of Azizi Developments, with the company currently
developing over 40,000 homes worth billions of dollars.
This includes an ambitious project featuring the world’s
second-tallest skyscraper, demonstrating his commitment to
pushing boundaries in real estate development.
Beyond real estate, Farhad is a strategic visionary who sees
potential in diversification. He is actively expanding the Azizi
Group’s interests into Europe and North America, exploring
opportunities in real estate, banking, and hospitality. A family
man with deep international connections, Farhad splits
his time between Dubai and various European countries.
His personal journey reflects the global, ambitious spirit of
modern Dubai - a city that continues to inspire his work and
vision for the future.
32 www.thefinanceworld.com Dec 2024
Top 100 Expats
FADI
GHANDOUR
Executive Chairman
Wamda Group
HIGHLIGHTS
Year of Establishment:
2014
Industry:
Financial Services
Nationality:
Lebanese
Best known as the co-founder of Aramex, Fadi Ghandour
transformed a local logistics company into a global
enterprise with a presence in 90 countries and over
250 offices.
During his 30-year tenure as CEO, Ghandour achieved a
groundbreaking milestone by taking Aramex public on Nasdaq,
becoming the first Arab company to do so. His entrepreneurial
journey extends far beyond logistics, spanning digital technology,
hospitality, fitness, wellness, and security sectors. As the
Executive Chairman of Wamda Group, Ghandour continues
to support entrepreneurship across the MENA region. He
established Wamda Capital, a venture capital firm with a
$75 million growth fund dedicated to nurturing and building
entrepreneurial ecosystems. This initiative has been crucial
in supporting emerging startups and innovative businesses
throughout the Middle East.
His entrepreneurial acumen is evident in his diverse investments.
Ghandour was a founding partner of Maktoob.com,
the world’s largest Arab online community, which was later
acquired by Yahoo!, demonstrating his ability to identify and
develop promising digital ventures. He has also been a board
member of Abraaj Capital and a founding board member
of Endeavor Jordan, further solidifying his influence in the
regional business landscape.
Beyond business success, Ghandour is deeply committed
to social impact. He founded Ruwwad for Development, a
community engagement platform that supports marginalized
communities through education, civic engagement, and financial
inclusion across multiple countries. This non-profit organization
focuses on empowering displaced and underserved
communities in Lebanon, Palestine, Jordan, and Egypt. His
philanthropic efforts extend to supporting sports and community
development. Ghandour co-founded and continues
to support Al-Riyadi, one of the leading non-profit sports
clubs in Jordan, showcasing his commitment to community
building beyond the business realm.
Ghandour’s academic and professional contributions are
equally impressive. He serves on the Advisory Board of the
Suliman S. Olayan School of Business at the American University
of Beirut, contributing to the development of business
education in the region.
A serial entrepreneur and philanthropist, Ghandour has
been instrumental in launching and investing in numerous
companies and non-profits. His approach goes beyond traditional
business models, focusing on creating sustainable
ecosystems that drive social and economic progress.
Dec 2024 www.thefinanceworld.com 33
Top 100 Expats
FAZEELA
GOPALANI
Partner
EY Academy MENA
HIGHLIGHTS
Year of Establishment:
1989
Nationality:
British
Industry:
Accounting and Finance
Awards & Recognition:
Top 35 Women of Influence
in the Arab World 2021
As a Partner at EY and a distinguished Fellow of the
Association of Chartered Certified Accountants (FCCA),
Fazeela Gopalani’s journey is a testament to strategic
vision, unwavering commitment, and a profound dedication
to nurturing talent across the Middle East and beyond.
Gopalani’s professional narrative is rich with international
experience that seamlessly blends global expertise with
regional ambition. Her career trajectory began in the United
Kingdom, where she managed her accounting practice, before
making a significant move to the UAE over 15 years ago. Her
most notable professional chapters include a pivotal tenure
at ACCA, where she served as Head of Education and subsequently
Head of ACCA for Eurasia and the Middle East. In
these roles, she wasn’t just managing operations across 22
countries, but orchestrating the professional development
of a vibrant community of 35,000 students and members.
Currently leading the EY Academy for the MENA region,
Gopalani’s work is laser-focused on talent development. Her
comprehensive programs are designed to upskill organizations
and prepare future leaders in critical domains: finance, accounting,
leadership, artificial intelligence, and sustainability.
Her approach is deeply aligned with strategic national
visions, particularly Saudi Arabia’s Vision 2030. By developing
professional capabilities, she is directly contributing to the
Kingdom’s ambitious transformation goals, ensuring that the
workforce is not just prepared, but primed to lead.
Beyond her corporate achievements, Gopalani has been a
powerful advocate for professional and gender inclusivity.
Her mentorship has encouraged numerous nationals across
the Gulf Cooperation Council (GCC) to pursue ACCA certifications,
with a special emphasis on supporting women’s
advancement into senior management positions. Her board
memberships reflect this commitment. From King’s School Al
Barsha to the University of Birmingham, and organizations
like LANA Technology and the Sparkle Foundation, she consistently
leverages her expertise to drive meaningful change.
What distinguishes Gopalani is her holistic approach to
professional development. She doesn’t just see skills training
as a technical exercise, but as a pathway to broader societal
transformation. Her work supports the UAE’s remarkable
achievement of gender parity in government, and her international
initiatives demonstrate a commitment to building
sustainable, inclusive economies. As the business landscape
continues to evolve rapidly, driven by technological innovations
and global economic shifts, professionals like Fazeela
Gopalani are crucial.
34 www.thefinanceworld.com Dec 2024
Top 100 Expats
GEOFFREY ALPHONSO
Chief Executive Officer
Alef Education
A
thought leader in education technology, Geoffrey has
been listed among most reputed lists including the
‘Top 30 CEOs’ and the ‘100 Most Inspiring Leaders’ in
the Middle East. Geoffrey brings a background of strategic
thinking. He has over 25 years of experience implementing
business transformations in the North American, Australian,
and Middle Eastern markets and has held senior positions in
EdTech, telecommunications, and finance globally.
Prior to joining Alef Education, Geoffrey was General Manager
and Head of Pearson Education’s digital business practice
in the Middle East and Africa for over nine years. Geoffrey
currently sits on the board of THAKI – a non-governmental
organisation that provides digital education products and
services to underprivileged children in the MENA region – and
is a member of the Forbes Technology Council.
Under his leadership, Alef Education has grown from a
startup in 2016 to a prominent organisation. As CEO of Alef
Education and founding member of the AI award-winning Alef
Platform, Geoffrey leads the overall vision, design, innovation,
and product portfolio to cater to global growth at scale. He
has rapidly expanded the company into five new markets,
serving more than 1.1 million learners.
IMRAN ALI KHAN
CEO and Co-founder
Dubizzle Group
Founded in 2005, Dubizzle Group has become one of
the most successful online classifieds platforms in the
MENA region. It provides a broad range of services,
including real estate, automotive, and job listings. Under the
leadership of CEO Imran Ali Khan, the company has grown
into a dominant force in the region. With a background in both
engineering and business, Khan has played an integral role
in Dubizzle’s expansion and success. Khan’s leadership has
been crucial in steering the company through rapid growth
and technological evolution, making Dubizzle an indispensable
platform for buyers and sellers in the region. He has focused
on creating a seamless, user-friendly experience that integrates
tech-driven solutions to meet customer needs more effectively.
The company’s key platforms, including Bayut (real estate)
and Zameen (property listings), have transformed the digital
classifieds landscape in the UAE and beyond. With plans to go
public in 2025, Khan’s strategic direction for Dubizzle Group
aims to solidify its market dominance and pursue further
regional and international growth. Through his leadership,
Dubizzle has not only expanded its footprint across the MENA
region but also built a strong foundation for future expansion.
Dec 2024 www.thefinanceworld.com 35
Top 100 Expats
HUDA
KATTAN
Co-Founder
Huda Beauty
HIGHLIGHTS
Year of Establishment:
2013
Nationality:
Iraqi
Industry:
Beauty & Cosmetics
Awards & Recognition:
Digital Innovator of the
Year - 2017
In the glittering world of global beauty, some entrepreneurs
don’t just follow trends—they create them. Huda Kattan is
one such visionary who transformed a passionate hobby
into a billion-dollar cosmetics empire, redefining both beauty
standards and entrepreneurial success. Born to Iraqi parents
in Oklahoma City, Kattan’s story is a testament to the power
of reinvention and staying true to one’s calling. Though she
earned a finance degree from the University of Michigan–
Dearborn, she courageously stepped away from a traditional
career path to follow her passion: makeup artistry. This bold
choice would ultimately revolutionize the beauty industry.
Kattan’s entrepreneurial journey began in Dubai, where she
not only refined her makeup skills but also laid the groundwork
for her brand. In 2010, she launched a WordPress blog to share
makeup tutorials and tips. Her genuine passion and relatable
approach quickly resonated with a growing audience, setting
her apart in the crowded digital space. While pursuing her
career, Kattan met her now-husband, Chris Goncalo, during
her time at the University of Michigan-Dearborn. After moving
to Dubai in 2006, the couple welcomed their first child, Nour
Gisele, marking the start of an exciting new chapter.
In 2013, Huda Beauty was born, debuting with a line of
false eyelashes that caught the attention of celebrities like
Kim Kardashian. What began as a modest product line swiftly
grew into a comprehensive cosmetics brand, offering everything
from eyeshadow palettes to foundations. Kattan’s deep
understanding of consumer desires, paired with her mastery of
social media marketing, propelled the brand to global acclaim.
By 2020, Kattan had amassed over 47 million Instagram
followers, evolving from a makeup artist into a global beauty
influencer and entrepreneur. Her journey transcends traditional
business narratives, showcasing the rise of a digital-age
entrepreneur who blends authenticity, creativity, and strategic
vision. Expanding her billion-dollar empire, Kattan ventured
into new territories, launching Kayali fragrances and Wishful
skincare—both of which quickly gained cult followings. Her
relentless drive to meet unmet beauty needs continues to
fuel her success.
Huda Kattan’s story embodies cultural representation, female
entrepreneurship, and the transformative power of pursuing
one’s passion. She hasn’t just created a beauty brand; she
has inspired a generation to embrace their individuality and
chase their entrepreneurial dreams. Through Huda Beauty,
Kattan has also contributed to philanthropic efforts, proving
that with courage, creativity, and determination, personal
passion can evolve into a global phenomenon.
36 www.thefinanceworld.com Dec 2024
Top 100 Expats
HATEM
DOWIDAR
Group Chief Executive Officer
e&
HIGHLIGHTS
Year of Establishment:
1976
Nationality:
Egyptian
Industry:
Telecommunications
Awards & Recognition:
Global Merit Leader CEO
of the Year 2023
As the Group CEO of e&, Hatem Dowidar has emerged
as a transformative leader who is redefining the
telecommunications landscape. With a unique blend
of technical expertise and strategic acumen, Dowidar has
steered the company from a traditional telecom operator to
a dynamic global technology group. His journey began with a
solid foundation in engineering, holding a Bachelor’s Degree
in Communications and Electronics Engineering from Cairo
University, followed by an MBA from the American University
in Cairo that sharpened his business leadership skills.
Joining e& (formerly Etisalat) in September 2015, Dowidar
quickly ascended through the ranks, becoming Group CEO
in 2020. Under his leadership, the company has expanded its
global footprint to 38 markets, serving 154 million subscribers
with a brand portfolio valued at $10.9 billion. Dowidar’s
professional journey is marked by remarkable achievements
and global recognition. He led e& to become the Fastest
Growing Technology Brand in the Middle East and Africa.
His approach goes beyond mere business growth, focusing on
digital empowerment and strategic partnerships that create
meaningful societal impact.
Before e&, Dowidar built an impressive career with Vodafone,
serving in various leadership roles including CEO of
Vodafone Egypt and holding key positions across multiple
markets. His expertise extends beyond telecommunications,
with board memberships in diverse organizations including
Vodafone Group, Etihad Etisalat Company, and Maroc
Telecom. Internationally, he contributes to global dialogues
as a member of the GSMA and the United Nations Internet
Governance Forum leadership panel.
A standout example of Dowidar’s innovative approach
is the establishment of telehealth services in collaboration
with the American Hospital, demonstrating how technology
can be leveraged to enhance societal well-being. His vision
extends beyond business metrics, focusing on bridging digital
divides and empowering communities through technological
innovation. At the heart of Dowidar’s leadership is a commitment
to transformative technology. He sees e& not just as
a telecommunications company, but as a catalyst for global
digital transformation. With a global workforce of over 46,000
employees, he continues to push the boundaries of what a
technology company can achieve, consistently delivering
value to customers and stakeholders alike.
As the telecommunications landscape continues to evolve,
he stands at the forefront by reimagining the role of technology
in connecting and empowering societies worldwide.
Dec 2024 www.thefinanceworld.com 37
Top 100 Expats
DR. J.R. GANGARAMANI
President and Executive Chairman
Al Fara’a Group
Born in Mumbai, Dr. JR Gangaramani moved to the UAE
in 1974 to serve as a construction manager for the Dubai
World Trade Centre, the tallest building in the GCC
at the time. Six years later, he founded his own contracting
company, which eventually led to the creation of Al Fara’a
Construction & Industrial Group.
Al Fara’a has earned a reputation for offering a wide range
of services, including construction, ready mix, electro-mechanical
services, and interiors. The company’s impressive
project portfolio includes hospitals, bridges, towers, malls,
and villas. With a workforce of 18,000 employees across the
UAE and India, Al Fara’a has grown to become a prominent
player in the industry. In 2009, Gangaramani established the
Al Fara’a Foundation to harness the collective power of the
group’s companies and strategically meet stakeholder needs.
The foundation operates with a focus on five key pillars: care,
empowerment, growth, challenge, and nurture, ensuring a
sustainable and value-oriented approach to its initiatives.
Through these efforts, Al Fara’a aims to create a positive
impact on society and contribute to long-term community
development. Al Fara’a is committed to building a better future.
JAMES MATHEW
CEO & Managing Partner
UHY James
As the CEO and Managing Partner of UHY James Chartered
Accounntants, James Mathew has redefined the
essence of financial expertise, turning numbers into
powerful narratives of business growth and societal impact.
UHY James is the independent UAE based member firm of
UK headquartered global audit network - UHY International.
UHY International ranks among the top 20 global audit networks
and has an impressive footprint across 100+ countries.
Leading a dynamic team across multiple emirates in the UAE,
he has revoltuionised UHY James by empowering businesses
with comprehensive solutions in audit, assurance, advisory,
tax and technology. Headquartered in Dubai, the firm has a
robust footprint across Abu Dhabi, Sharjah and Fujairah.
Beyond corporate achievements, James’ impact resonates
through his profound commitment to societal development.
He is the Independent Director and Audit Committee Chair for
one of the largest healthcare groups in India. With millionaire
migration gaining momentum in the UAE, James Mathew
powered by 30+ years of experience plays a pivotal part in
adding value to global businesses venturing into the UAE and
transforming the economic environment at an intrinsic level.
38 www.thefinanceworld.com Dec 2024
Top 100 Expats
JACKY PANJABI
Group Managing Director
Jacky’s Group
At just 17, Jacky Panjabi left his homeland with nothing
but ambition and a dream. His first glimpse of Dubai
during a chance stopover between London and Hong
Kong would become the pivotal moment that would define
his entire career. When most would have hesitated, Jacky
saw potential in a city going through its first recession—a
decision that would prove transformative.
What began as a modest mail-order business has blossomed
into Jacky’s Electronics, a multinational enterprise spanning
consumer electronics, entertainment, FMCG, and specialized
technology solutions. From creating its own home appliances
brand ‘Venus’ to establishing Jacky’s Business Solutions
LLC, the group has consistently demonstrated an ability to
innovate and diversify. The company’s international reach
is impressive. Jacky’s Gulf FZE has become a key re-export
arm, driving growth across the Middle East, CIS, and African
markets. Jacky’s Logistics Worldwide LLC further strengthens
the group’s operational capabilities, offering comprehensive
logistics support. From a young entrepreneur taking a chance
to the leader of a multinational enterprise, his journey embodies
the spirit of innovation.
JOY ALUKKAS
Chairman and Managing Director
Joyalukkas Group
The story of Joy Alukkas is a remarkable tale of entrepreneurship,
vision, and family heritage. Born in 1956
in Thrissur, Kerala, Joy was part of a large family with
15 children. His journey began in a modest 220-square-foot
jewellery store started by his father, Alukka Joseph Varghese,
the same year Joy was born. From a young age, Joy was
fascinated by the family business. After graduating from St
Thomas College, Joy joined the family business in 1976. By
1987, he had set up his first store in the UAE, marking the
beginning of what would become the Joyalukkas Group. In
2002, Joyalukkas strategically entered the Indian market by
establishing its headquarters and opening its first showroom
in Kochi, Kerala. Following a split in the family business, Joy
gained the freedom to expand rapidly.
Today, Joyalukkas is a global brand present in 11 countries,
including the United States, United Arab Emirates, India,
United Kingdom, Singapore, Malaysia, Qatar, Oman, Bahrain,
Kuwait, and Saudi Arabia. But Joy’s vision extends beyond
jewellery. The group has diversified into exchanges, silk
fashion, real estate, and even philanthropic efforts through
the Joyalukkas Foundation.
Dec 2024 www.thefinanceworld.com 39
Top 100 Expats
KAMI
VISWANATHAN
President - ME, Indian Subcontinent and Africa
FedEx
HIGHLIGHTS
Year of Establishment:
1989
Nationality:
Indian
Industry:
Logistics
Awards & Recognition:
Middle East’s Top 30
Logistics Leaders
Kami Viswanathan stands at the forefront of global
business leadership as the President of FedEx for the
Middle East, Indian Subcontinent, and Africa (MEISA),
overseeing operations across 84 countries.
With a career spanning over two decades, Viswanathan has
seamlessly navigated between consulting, entrepreneurship,
and corporate leadership. She joined FedEx in February 2021,
bringing with her a wealth of experience and a proven track
record of driving strategic growth. Her role involves charting
the rapid expansion of FedEx in the MEISA region, with a
particular focus on developing strategic partnerships and
commercial initiatives in key markets like India, the UAE,
and Saudi Arabia.
A gold medalist from the National Law School of India
with a BA, LLB (Hons.) degree, Viswanathan further distinguished
herself by earning an MBA from Harvard Business
School. This exceptional educational background has been a
cornerstone of her professional success, providing her with
a robust foundation for strategic leadership. Viswanathan’s
impact extends beyond her corporate role. She is a fellow of
the Aspen Global Leadership Network and serves on several
prestigious boards, including the US-India Business Council
and the Harvard Business School South Asia Advisory Board.
Her commitment to giving back is evident in her involvement
with non-profit organizations like the Music Academy Madras
and the American International School Chennai.
At FedEx, Viswanathan is particularly focused on driving
transformation in India, the Middle East, and Africa. Her
approach combines strategic marketing, commercial growth,
and corporate innovation, positioning her as a key driver of
the company’s expansion in these dynamic regions. She leads
corporate innovation efforts out of India, demonstrating her
ability to identify and leverage emerging opportunities.
Kami Viswanathan represents a new generation of global
leaders – those who seamlessly blend technological innovation,
strategic thinking, and a global perspective. Her journey
from a gold-medal-winning law student to a top executive at
a global logistics giant is a powerful narrative of ambition,
adaptability, and continuous learning. Driven by a passion for
progress, she inspires others to pursue excellence and harness
the power of innovation to tackle complex global challenges.
As she continues to shape the future of FedEx in the MEISA
region, Viswanathan remains committed to driving business
transformation, supporting emerging markets, and creating
innovative solutions that connect businesses and communities
across the globe.
40 www.thefinanceworld.com Dec 2024
Top 100 Expats
KABIR MULCHANDANI
Founder and Chairman
FIVE Holdings
A
visionary in both luxury hospitality and real estate, Kabir
Mulchandani has been instrumental in transforming
FIVE Holdings into a key player in the global luxury
market. With a solid background in business and investments,
Mulchandani has overseen the development of renowned
properties like FIVE Palm Jumeirah Dubai and FIVE Zurich,
which have set new benchmarks for high-end living and guest
experiences. His focus on delivering innovative designs and
exceptional service has helped elevate the company’s profile
in the competitive hospitality sector.
Mulchandani’s leadership has led to the rapid growth of
FIVE Holdings, with plans for international expansion and
a public listing by 2025. Under his direction, the company
has built a strong reputation for its lavish offerings, contributing
significantly to Dubai’s luxury tourism landscape. His
entrepreneurial journey, which began in India, has also been
marked by a deep commitment to philanthropy, such as his
initiative, Project Udaan, which provides life-saving surgeries
to children in India. Through Project Udaan, Mulchandani has
helped countless children with congenital heart defects, showcasing
his dedication to making an impact beyond business.
KHALED SOLIMAN
Group Chief Executive Officer
Jashanmal National Co
As the Group CEO of the 102-year-old Jashanmal Group,
Khaled Soliman has masterfully steered a century-old
business from traditional brick-and-mortar operations
to a cutting-edge, omni-channel enterprise. His professional
journey is marked by an exceptional ability to navigate complex
business transformations. When he joined Jashanmal in
2017, the company was a traditional retailer with 100 physical
stores across the GCC region. Recognizing the impending
digital revolution, he immediately reimagined the business’s
operational strategy.
Under his leadership, the management team embraced digital
technologies even faster than their customers. Within two
years, the company had recovered to pre-pandemic business
levels and even expanded its retail footprint from 100 to over
150 stores. One of Soliman’s most significant achievements
has been the successful launch of Jashanmal’s e-commerce
platform. In just one year, online sales contributed more than
4% of the group’s total turnover. When he’s not transforming
retail strategies, Soliman enjoys a balanced life. An avid golfer
and water sports enthusiast, he’s also a passionate Liverpool
Football Club fan.
Dec 2024 www.thefinanceworld.com 41
Top 100 Expats
LUDMILA YAMALOVA
Founder and Managing Partner
HPL Yamalova & Plewka
As a remarkable legal professional, Ludmila Yamalova
has redefined the boundaries of legal practice in the
UAE. As the Founder and Managing Partner of HPL
Yamalova & Plewka DMCC (LYLAW), she brings a unique
blend of international expertise and local insight to the legal
landscape. Born in Ukraine and educated at the University of
Texas, Yamalova boasts an impressive professional journey
spanning two continents, with extensive legal experience in
both the United States and the UAE.
Licensed by the State Bar of California and recognized in
Dubai’s legal circles, Yamalova transcends traditional legal
practice. Her professional expertise extends far beyond conventional
legal counsel, earning her reputation as the region’s first
verified “TikTok Lawyer” and a pioneering media personality.
Through her acclaimed podcast “Lawgical” and active media
presence, she has transformed legal communication, making
complex legal insights accessible to a broader audience.
Her professional trajectory is distinguished by high-profile
roles, from Associate General Counsel at a NASDAQ-listed
company in Silicon Valley to managing critical patent litigation
and global corporate matters.
L.T. PAGARANI
Chairman
Choithrams
LT Pagarani is the driving force behind the remarkable
growth and transformation of Choithrams, a supermarket
brand with roots dating back to 1944, when it was
founded by Thakurdas Choithram Pagarani in West Africa.
As the current chairman, Pagarani has expanded Choithram
& Sons into a global name, with a presence across Europe,
North America, Africa, and the Middle East. His vision led
to the opening of Choithrams’ first store in the UAE over 30
years ago, and the brand now operates more than 25 stores
across the GCC.
Under Pagarani’s leadership, Choithrams has not only thrived
as a business but has also made significant philanthropic
contributions. The company has donated millions of dollars
to causes such as the UN World Food Programme, showcasing
Pagarani’s commitment to giving back to the community.
Through Choithram International Foundation, the supermarket
chain’s charitable arm, Pagarani has extended its
support to various initiatives, including a recent emergency
grant to the Al Jalila Foundation, part of the Mohammed bin
Rashid Al Maktoum Global Initiatives. This philanthropic focus
highlights his dedication to social responsibility.
42 www.thefinanceworld.com Dec 2024
Top 100 Expats
LINDA
FITZ-ALAN
Registrar and Chief Executive
Abu Dhabi Global Market Courts
HIGHLIGHTS
Year of Establishment:
2015
Nationality:
Australian
Industry:
Finance
Awards & Recognition:
100 Most Powerful
Businesswomen 2023
Linda Fitz-Alan’s journey is a remarkable story of ambition,
innovation, and dedication to transforming the legal
landscape. As the Registrar and Chief Executive of Abu
Dhabi Global Market Courts, she has carved a unique path
that spans continents and challenges traditional approaches to
judicial services. From her roots in Australia to the dynamic
legal environment of the Middle East, Fitz-Alan’s career is a
testament to perseverance, innovation, and a commitment
to making a meaningful impact.
In November 2022, Linda pioneered and launched an additional
two world-first projects: the introduction of blockchain
technology for the global enforcement of commercial
judgments and “mediation in the metaverse”. The first-ever
blockchain technology to be used in the global enforcement
of commercial judgments verifies the authenticity of judgments,
driving sustainable change in the justice sector. The
“mediation in the metaverse” service is transforming mediation
into the next-generation approach to settling disputes. As a
champion for gender equality, Linda serves on the Advisory
Council of Masdar’s Women in Sustainability, Environment and
Renewable Energy (WiSER) platform, and also leads ADGM’s
Gender Equality Initiative, which has strategic partnerships
with several local and international organisations.
Since joining ADGM Courts in September 2015, Fitz-Alan
has been instrumental in transforming the judicial landscape.
Her most significant achievement is the groundbreaking ADGM
eCourts Platform, launched in 2018, which revolutionizes access
to justice by removing geographical and time constraints.
This innovative digital court allows parties to participate in
hearings from anywhere in the world, a game-changing approach
to dispute resolution that sets new global standards.
Her leadership extends beyond technological innovation.
Fitz-Alan has been a strong advocate for ESG (Environmental,
Social, and Governance) and sustainability initiatives,
embedding these crucial principles into the core of the ADGM
Courts’ operations. She oversees the court-annexed mediation
scheme and the state-of-the-art ADGM Arbitration Centre,
positioning the institution as an international trailblazer in
judicial services.
Driven by a personal philosophy of continuous challenge
and improvement, Fitz-Alan has turned the ADGM Courts
into a model of modern judicial innovation. She has created
a platform that makes justice more accessible, efficient, and
responsive to the needs of a global community. Through strategic
reforms and a commitment to embracing technology, she
has set a new standard for judicial excellence and inclusivity.
Dec 2024 www.thefinanceworld.com 43
Top 100 Expats
LEWIS ALLSOPP
Chairman
Allsopp & Allsopp
Fifteen years ago, Lewis Allsopp’s journey began in a
small Jumeirah villa, where he single-handedly managed
everything from operations to sales. What emerged was
not just a business, but a blueprint for entrepreneurial success
in one of the world’s most dynamic real estate markets.
Allsopp’s approach has been nothing short of revolutionary.
Where others saw challenges, he saw opportunities. His
leadership philosophy transcends traditional business models,
combining unwavering determination with a profound
commitment to mutual success. This approach has not only
propelled his company forward but has also influenced the
broader Dubai real estate industry’s operational paradigms.
Today, Allsopp & Allsopp Real Estate stands as a testament
to strategic vision. With over 650 employees spread across
Dubai, the company has evolved far beyond its initial real
estate roots. Strategic diversification has been key—establishing
successful subsidiaries in financial services, executive
search, and property management that create a comprehensive
ecosystem of services. His journey is a powerful reminder that
with vision, dedication, and strategic thinking, it’s possible
to turn modest beginnings into extraordinary achievements.
MAZEN NAHAWI
Founder and Group CEO
CARMA
Founder and CEO of CARMA, Mazen Nahawi has created
a global platform that helps brands navigate the complex
media landscape. What began in 1984 and was strategically
relaunched in 2016 has now grown into a powerhouse
serving over 3,500 brands and organizations worldwide.
CARMA stands as a testament to Nahawi’s innovative
approach, blending cutting-edge technology with human
expertise. With a global team of over 600 staff spanning five
continents, the company has positioned itself as the premier
media intelligence service provider, offering real-time data
insights and sophisticated communications evaluation programs.
But Nahawi’s entrepreneurial spirit extends beyond
CARMA. He is also the founder of SOCIALEYEZ, the leading
social marketing agency in the Middle East, demonstrating his
ability to identify and capitalize on emerging media trends.
His leadership extends to industry advocacy as well. As an
Executive Board Member at MEPRA and former president of
FIBEP, Nahawi has been instrumental in shaping the media
intelligence profession. From a single company to a global
network, he has consistently demonstrated an extraordinary
ability to understand and shape the media landscape.
44 www.thefinanceworld.com Dec 2024
Top 100 Expats
MASIH
IMTIAZ
Chief Executive Officer
Imtiaz Developments
HIGHLIGHTS
Year of Establishment:
2014
Nationality:
Afghani
Industry:
Real Estate
Awards & Recognition:
Rising Developer of the Year
2024
Steering a prominent real estate development company
through rapid growth and extraordinary achievements
is a challenge few leaders are prepared for.
Masih Imtiaz, CEO of Imtiaz Developments, has not only
embraced this challenge but excelled in it. Known for his
ability to transform bold visions into actionable results, Masih
has guided Imtiaz Developments through Dubai’s competitive
real estate landscape, establishing it as a leading name in the
industry. Recognised among the 150 Most influential figures
in construction and real estate in the Middle East, Masih
continues to shape the future of real estate with his innovative
leadership. Imtiaz Developments builds upon its legacy
of an international construction company founded in 1993,
with operations spanning Afghanistan, the US, and Africa.
The company boasts an impressive history of collaborating
with esteemed clients such as the UAE Government, World
Bank, Asian Development Bank, and USAID on major projects,
including residential and commercial towers, infrastructure
developments, power plants, and airports.
In 2014, the company diversified into luxury real estate
development, establishing Imtiaz Developments in Dubai.
Under Masih’s leadership, it has evolved into one of the
UAE’s leading boutique developers, delivering high-quality
residential projects that cater to modern lifestyles while
pushing the boundaries of design and sustainability. With a
portfolio of over 18 projects, Imtiaz Developments continues
its strategic expansion across Dubai. Key highlights include
six developments in Jumeirah Village Circle, four in Dubailand
Residential Complex, and eighteen waterfront projects in
Dubai Islands, showcasing its commitment to creating iconic
communities.
The company’s success is reflected in its remarkable sales
growth, with revenues increasing from AED 100 million to
AED 3 billion in just two years. This achievement has been
complemented by prestigious accolades such as the Rising
Developer of the Year Award 2024 and the Rising Star Developer
Award 2023. Masih’s contributions have also been
personally recognised.
He’s the recipient of the Industry Personality of the Year,
underscoring his ability to lead with innovation and purpose.
For Masih, success is about more than numbers—it’s about
creating vibrant communities that inspire, connect, and enhance
lives. Imtiaz Developments is dedicated to redefining
real estate by delivering projects that embody excellence and
sustainability. With Masih Imtiaz at the helm, the company
remains committed to shaping the future of urban living
with developments that reflect innovation, community, and
exceptional quality.
Dec 2024 www.thefinanceworld.com 45
Top 100 Expats
MANOJ
SUREKA
Managing Partner
Synergy Fin. Consulting
HIGHLIGHTS
Nationality:
Indian
Industry:
Financial Services & Consulting
Manoj Sureka is a well-recognized name in finance and
business investment advisory, known for his visionary
leadership. His experience showcases a blend of
strategic acumen and expertise, making a significant impact
on Dubai’s financial landscape. His innovative mindset and
confident expertise have been key drivers of his success in
financial consulting, both in Dubai and beyond. Armed with a
solid academic foundation, he holds a Chartered Accountancy
degree from ICAI and a commerce degree from the prestigious
St. Xavier’s College, Kolkata. This strong educational
background laid the groundwork for his illustrious career in
the financial sector.
Over the years, Manoj has built a remarkable professional
legacy through impactful tenures at leading financial institutions,
including RAK Bank, Mashreq Bank, National Bank of
Fujairah, and SREI Finance. His extensive experience and deep
understanding of financial markets have positioned him as a
trusted thought leader in the industry. Leveraging this wealth
of experience, Manoj spearheaded the growth of Synergy Fin.
Consulting, transforming it into a financial advisory firm that
transcends traditional consulting paradigms.
The firm stands as a strategic partner for corporations
seeking innovative and sophisticated financial solutions.
They specialize in fundraising and financial advisory services,
excelling in critical domains such as private equity, debt structuring,
trade finance, and strategic corporate partnerships.
With over two decades of experience in the financial sector,
Manoj and his team have cultivated an expansive network of
relationships across the GCC and Far East regions, connecting
with key financial institutions, sovereign funds, and institutional
investors in financial hubs like Hong Kong, Singapore,
and the Middle East. The company’s tailored services address
complex corporate financial challenges, ranging from private
equity fundraising to intricate debt and trade finance solutions.
Synergy also provides expert guidance in mergers and
acquisitions, joint venture structuring, and strategic financial
advisory, enabling businesses to transform their visions into
tangible economic success.
Manoj has helped many businesses grow by providing
them access to funding at the right time, ensuring they can
seize critical opportunities. Manoj’s contributions to the financial
and business ecosystem have earned him significant
recognition, including his inclusion on the Advisory Panel
for the prestigious Divya Chakra Award 2023. This honour
underscores his commitment to excellence and his broader
impact on the financial sector. He continues to inspire and
lead, helping businesses unlock their strategic potential and
driving the financial landscape toward a future defined by
growth and opportunity.
46 www.thefinanceworld.com Dec 2024
Top 100 Expats
MANOHAR LAHORI
Group Chairman
Palmon Group
In 1984, a chance encounter with Sultan Ahmed Bin Sulayem,
then-chairman of DP World, led Manohar Lahori
to establish the Palmon Group in Dubai. Lahori, who was
then operating a garment manufacturing business in Mumbai,
visited the Jebel Ali Free Zone, which was under development,
and saw its potential as a growing trading hub. He set up
operations there in 1985, and this marked the beginning of
the group’s expansion.
By the late 1990s, however, the rise of Chinese manufacturing
forced Palmon to shut its garment factory in Jebel Ali.
Over the years, the company diversified into several sectors,
including logistics, warehousing, food and beverage, and interior
design. The group has also made significant investments
in real estate, both in the UAE and internationally.
The leadership of Palmon has transitioned to a new generation.
Manohar Lahori’s daughter, Meher Mirchandani, now
serves as the managing director and CEO of Meher & Riddhima,
the fashion division. His son Chirag Lahori handles business
development and operations, while another son, Kunal, and
his wife manage the food and beverage division, including
the brand Pret To Go.
MOHAN G. VALRANI
Co-Founder and Mentor
Al Shirawi Group
Al Shirawi Group, a prominent UAE-based conglomerate,
operates across manufacturing, engineering, trading,
and real estate sectors. Founded in 1971, it has grown
into a regional leader, employing over 10,000 people, with a
steadfast focus on innovation and excellence.
Mohan G. Valrani, a Chartered Accountant and visionary
entrepreneur, co-founded the group alongside Abdulla Al
Shirawi. His early career in Mumbai equipped him with robust
financial expertise, which he integrated into the group’s operations,
ensuring sustained growth over the decades. Valrani’s
financial discipline and leadership have been instrumental in
steering the group toward long-term success.
As Managing Director, Valrani has shaped Al Shirawi’s strategic
direction, championing sustainable growth, diversification, and
adaptability in an evolving global market. Under his guidance,
the group has expanded its portfolio to over 30 companies,
earning recognition for its commitment to quality, integrity,
and sustainability. Its investments in green technologies and
smart solutions underscore its role as an innovation leader.
Valrani’s leadership philosophy centres on empowering
individuals and fostering collective achievement.
Dec 2024 www.thefinanceworld.com 47
Top 100 Expats
MICHEL AYAT
CEO
AW Rostamani Automotive Group
As CEO of AW Rostamani Automotive Group, the leadership
at the helm has been instrumental in establishing
the company as a leader in the UAE’s automotive
sector. With a wealth of experience in the industry, he has
successfully navigated the group through significant growth
while maintaining its position as a key distributor of renowned
brands like Nissan, INFINITI, and Renault.
His leadership is distinguished by a strong focus on innovation
and operational excellence. Under his guidance, AW
Rostamani Automotive Group has adopted digital transformation
initiatives, streamlined operations, and improved
customer engagement, ensuring the company remains adaptable
in a rapidly evolving market. His approach combines a
forward-thinking vision with an unwavering commitment to
sustainable growth.
A key part of his leadership style is fostering a culture of
inclusivity and innovation within the organization, empowering
employees to contribute to the company’s success. His
ability to respond effectively to market dynamics has allowed
AW Rostamani to expand its offerings and maintain steady
growth in a competitive landscape.
MUDASSIR SHEIKHA
Co-Founder and CEO
Careem
As a visionary entrepreneur and business leader, Mudassir
Sheikha co-founded Careem in 2012, establishing it as
the Middle East’s leading ride-hailing and multi-service
platform. Under his strategic leadership, Careem expanded
from a regional response to transportation needs into a tech
powerhouse, offering services that now include ride-hailing,
food delivery, and digital payments across 100 cities in the
Middle East, North Africa, and South Asia. His efforts were
key to Careem’s acquisition by Uber in 2020 for $3.1 billion,
marking a significant milestone in the global tech ecosystem.
Sheikha’s career began at McKinsey & Company, where he
honed his expertise in technology-driven strategies. With an
MBA from Stanford University and a background in computer
science and economics, he gained invaluable experience
from his leadership roles in Silicon Valley startups. His forward-thinking
vision for Careem went beyond transportation,
with the goal of creating a “super app” that integrates a range
of services to simplify everyday life.
Sheikha’s leadership emphasizes innovation, sustainability,
and economic opportunity, particularly within the region.
Sheikha continues to shape Careem’s growth.
48 www.thefinanceworld.com Dec 2024
Top 100 Expats
NASER TAHER
Founder & CEO
MultiBank Group
With a vision to revolutionize the financial services
sector, Naser Taher founded MultiBank Group in
2005, quickly transforming it into one of the world’s
largest financial derivatives providers. The company offers
forex, CFD trading, and advanced financial solutions to millions
of clients across 90 countries, with a daily trading volume
exceeding $12 billion. Under Taher’s leadership, MultiBank
Group has set industry standards for transparency, technology,
and service excellence.
Taher’s experience in prestigious institutions like Merrill
Lynch and Citibank helped him develop a deep understanding
of global financial markets. This experience informed his
innovative approach to building a business that prioritizes
customer trust and cutting-edge technology. His commitment
to making financial services more accessible globally has been
pivotal in the company’s expansion and success. MultiBank
Group has earned over 50 international awards, a testament
to its dedication to excellence.
As a leader, Taher is known for his unwavering focus on
trust, innovation, and regulatory compliance. Beyond his
business achievements, Taher is also a philanthropist.
NARESH K. BHAWNANI
Founder and Chairman
West Zone Group
Born in Mandsaur, a small town in Madhya Pradesh,
India, Naresh Kumar Bhawnani’s business acumen was
shaped early by watching his father’s retail ventures.
Learning the fundamentals of trade from his family, he carried
those lessons with him when he arrived in the United Arab
Emirates in the late 1980s.
The group was established on December 2, 2004—UAE
National Day—in Mirdiff, Dubai. What started as a single
store has turned into a remarkable retail empire spanning
multiple sectors. Starting with his first supermarket in 2005,
Bhawnani has grown his business to over 125 retail outlets
across various sectors. Today, West Zone Group operates
more than 100 supermarkets, covering 500,000 square feet,
employs over 5,000 people, and has expanded into logistics,
real estate, hospitality, technology, and food and beverage.
Bhawnani credits much of his success to his mother, Mrs.
Radha Bhawnani, whom he calls his mentor and the real
strength behind the group. Each store’s inauguration is a
family celebration, reflecting the deep-rooted family values
that drive the business. With a strong commitment to customer
satisfaction and community, West Zone Group continues to
set new benchmarks in the region’s retail sector.
Dec 2024 www.thefinanceworld.com 49
Top 100 Expats
NAWAB SHAJI UL MULK
Founder and Chairman
Mulk Holdings
Started Mulk Holdings in 1982, Nawab Shaji Ul Mulk
envisioned a global conglomerate, growing it into a powerhouse
with a presence in 40 countries. The company
is renowned for its flagship product, Alubond USA, which is
the world’s largest producer of aluminium composite panels.
Under Mulk’s leadership, the group diversified into multiple
industries, including healthcare, real estate, renewable energy,
and sports management.
Mulk Holdings has achieved a remarkable annual turnover
surpassing $2 billion, driven by its emphasis on innovation,
sustainability, and global expansion. The founder, with a personal
net worth exceeding $1.9 billion, has played a crucial
role in positioning the company for significant growth across
diverse sectors.
Mulk is also a committed philanthropist, particularly in the
areas of education and community well-being. His leadership
style, based on adaptability continues to drive the company’s
success. With a forward-thinking vision, Mulk aims to further
expand Mulk Holdings globally, championing sustainable
practices and technological innovation. He plans to strengthen
the company’s presence in emerging markets.
NEELESH BHATNAGAR
Founder and Managing Director
NB Ventures
Neelesh Bhatnagar is the Founder and Managing Director
of NB Ventures, a venture capital firm based in Dubai,
which he founded in 2016. With a career spanning over
30 years in the Middle East, Neelesh has built a reputation
for leadership in both retail and venture capital. Prior to
establishing NB Ventures, he was the Founder and CEO of
Landmark Arabia and Emax, companies that were pioneers
in the region’s retail sector. His extensive experience in business
management and consumer insights has provided him
with a strong foundation to venture into the world of digital
investments. NB Ventures is a prominent player in the venture
capital ecosystem, focusing on startups in sectors like fintech,
foodtech, retail, sustainability, and EdTech. Since its inception,
the firm has invested in over 50 companies, nurturing emerging
businesses with high growth potential. Some of its notable
portfolio companies include Purplle, HealthifyMe, WebEngage,
and Texub. The firm’s commitment to innovation is evident
in its support for disruptive technologies and its dedication
to helping startups scale into global players.
He focuses on mentoring entrepreneurs, and connecting
them with a broad network of industry experts and partners.
50 www.thefinanceworld.com Dec 2024
Top 100 Expats
NEERAJ TECKCHANDANI
CEO and Director
Apparel Group
As the CEO and Director of Apparel
Group, Neeraj Teckchandani
has been a driving force behind
the company’s success and expansion.
Leading the group’s growth across the
Middle East, Africa, and Asia, he has
played a crucial role in building strong
partnerships with renowned global
brands, strengthening the company’s
market position. Neeraj’s strategic vision
and expertise in business development,
brand management, and operations have
been instrumental in the group’s rise to
prominence. Under his leadership, Apparel
Group has continuously innovated,
offering a wide range of fashion, lifestyle,
and beauty products. His strategic vision
and commitment have strengthened the
company’s market position. He continues
to steer the company towards further
success in the competitive retail sector.
NEIL PETCH
Founder and Chairman
Virtuzone
A
seasoned entrepreneur and startup
advocate, Neil Petch has spent
years creating, growing, and
scaling businesses while collaborating
with individuals who share his passion
for innovation. His most notable achievement
is Virtuzone, the first independent
company formation specialist in the
Middle East, dedicated to empowering
start-ups and entrepreneurs.
As Chairman of Virtugroup, founded
in 2012 to enhance operational efficiency
and drive growth, Neil oversees several
ventures, including Virtuzone Mainland,
which facilitates local company setups,
and Next Generation Equity, offering
citizenship-by-investment services in
14 jurisdictions.
Through Virtuvest, the group’s investment
arm, Neil has supported innovative
businesses such as Easy Truck, GMG
(Dubai), and VirtuTech.
NICHOLAS WATSON
CEO and Co-founder
Udrive
Udrive was co-founded by Nicholas
Watson and provides on-demand
car rental services via a mobile
app. With a fleet of over 1,000 vehicles in
the UAE, Udrive has revolutionized mobility
by offering flexible rental options,
including per-minute and per-day models.
The company’s free float fleet approach
allows users to easily access vehicles,
optimizing transportation across the UAE.
Known for its innovative business model,
Udrive has built a loyal customer base,
particularly among expats in the UAE. By
offering a hassle-free, convenient alternative
to traditional car rentals, Udrive
continues to enhance the way people
move around the region. The company’s
commitment to technology-driven solutions
and customer-centric services has
set a new standard in the mobility sector.
Dec 2024 www.thefinanceworld.com 51
Top 100 Expats
OLA
DOUDIN
Co-founder and Chief Executive Officer
BitOasis
HIGHLIGHTS
Year of Establishment:
2015
Nationality:
Jordanian
Industry:
Crypto Trading
Awards & Recognition:
Top 10 Women Behind Middle
Eastern Tech Brands 2021
Ola Doudin is the co-founder and CEO of BitOasis, the
first and largest virtual asset platform in the Gulf Cooperation
Council and Middle East region. Her journey
from an electrical engineering graduate to a cryptocurrency
trailblazer is a testament to innovation and entrepreneurial
spirit. Born and raised in Jordan, Doudin began her career
in global technology audit in London, working with Ernst &
Young before taking a bold leap into the world of digital assets.
In 2015, Doudin co-founded BitOasis in Dubai, addressing a
crucial gap in the market by creating a platform that enables
investors across the Arab world to securely buy, hold, and sell
over sixty virtual assets. What started as a side project has
grown into the region’s most significant digital asset platform,
earning Doudin the nickname “Bitcoin Pioneer” in the Middle
East. Her motivation was simple yet powerful: to provide
the next generation of investors with a local, purpose-built
platform for accessing virtual assets.
Doudin’s entrepreneurial journey wasn’t without challenges.
She left her corporate role to pursue innovative ventures,
collaborating with Aramex founder Fadi Ghandour and
meeting her BitOasis co-founder Daniel Robenek in Dubai.
Her business philosophy centres on the transformative
potential of cryptocurrency, believing it can fundamentally
reshape how people think about transactions, savings, and
investments. The platform’s success has been remarkable,
particularly with significant regulatory developments like
obtaining a special license from Dubai’s Virtual Assets Regulatory
Authority in 2023. BitOasis has become a household
name across the MENA region, reflecting Doudin’s vision of
responsible growth and compliance in the rapidly evolving
cryptocurrency landscape.
Beyond her business achievements, Doudin remains
committed to supporting entrepreneurship. She is actively
involved in initiatives that mentor tech start-ups and social
entrepreneurs, sharing insights from her own experiences.
Her approach emphasizes resilience, self-belief, and proactivity,
encouraging aspiring entrepreneurs to view setbacks
as opportunities for growth. Doudin’s vision extends beyond
immediate business success. She sees BitOasis as a potential
global player in the cryptocurrency space, committed
to shaping the industry’s future while maintaining a strong
focus on emerging markets and regulatory compliance. With
a background in electrical engineering from the University
of Birmingham and experience in global technology audit,
Doudin brings a unique perspective to the cryptocurrency
world. Her leadership of BitOasis continues to contribute to
the broader global financial ecosystem.
52 www.thefinanceworld.com Dec 2024
Top 100 Expats
PHIL MALEM
Chief Executive Officer
Serco Middle East
With over 20 years of leadership
experience, Phil Malem has led
Serco Middle East since 2019,
overseeing its expansion and solidifying
its position as a key provider of essential
public services in the region. Malem has
a strong background in engineering and
management, having held senior roles at
SNC-Lavalin and WS Atkins, contributing
to large-scale projects across Europe,
Asia, and the Middle East.
At Serco, Malem has focused on integrating
technological advancements and
sustainable solutions, driving the company’s
digital-first strategy. He emphasizes
employee engagement, fostering a culture
of inclusivity, and strategic partnerships,
ensuring Serco’s continued success in
sectors such as healthcare, transportation,
and facilities management. His
forward-thinking leadership has played
a vital role in Serco’s revenue growth.
PARAS SHAHDADPURI
Chairman
Nikai Group
Serving as an Indian Foreign Services
diplomat in China, the US,
Saudi Arabia, and Libya, Paras
Shahdadpuri transitioned to business in
the UK in 1987. After a visit to Dubai, he
relocated to the emirate and founded the
Nikai Group, now a leader in electronics,
appliances, food products, staffing outsourcing,
and restaurants. With offices
across the UAE, Saudi Arabia, China,
and other countries, Nikai exports to
60 nations and has a customer base of
over 65 million. Shahdadpuri has played
a pivotal role in fostering India-UAE
business relations, serving as president
of the Indian Business and Professional
Council and the Business Leaders Forum.
He has earned numerous awards for his
business achievements and community
service.
RAHEEL AHMED
Chief Executive Officer
RAK Bank
Raheel Ahmed joined RAK Bank in
2022. He brings over 30 years of
extensive banking experience across
Europe, Asia, the Middle East, and Africa.
A seasoned leader in transformation, he
has held senior executive roles at Standard
Chartered, Citigroup, and Barclays, and
has also served on company boards for
both Standard Chartered and Barclays.
Raheel most recently served as a
member of the Executive Committee
and Chief Product & Analytics Officer at
Barclays UK, where he was responsible
for driving the strategy and commercial
performance of personal banking products.
He also championed Diversity &
Inclusion as an executive sponsor, a
cause he is deeply passionate about.
During his tenure, Raheel led the digital
and analytics transformation, delivering
personalized and seamless products and
services to over 20 million customers.
Dec 2024 www.thefinanceworld.com 53
Top 100 Expats
P.N.C.
MENON
Founder
Sobha Group
HIGHLIGHTS
Year of Establishment:
1995
Nationality:
Indian
Industry:
Real Estate
Awards & Recognition:
Arabian Indian Czar Award
2015
In the world of entrepreneurship, few stories are as inspiring
as that of Puthan Naduvakkatt Chenthamaraksha
Menon, better known as P.N.C. Menon – a visionary who
transformed his modest beginnings into a global real estate
empire spanning multiple continents. Born on November
17, 1948, in Palakkad, Kerala, Menon’s life was marked by
early challenges that would shape his extraordinary character.
At the tender age of 10, he lost his father, forcing him
to shoulder the responsibility of providing for his family.
Financial constraints compelled him to abandon his studies
at Sree Kerala Varma College, Thrissur, setting the stage for
an entrepreneurial journey that would defy all expectations.
At 26, Menon took a bold leap, leaving Kerala for Oman with
nothing but determination and a dream. He started a small
interior decoration firm, Service and Trade Company, which
quickly became a market leader. His exceptional craftsmanship
caught the attention of royalty across the Middle East,
undertaking prestigious projects in Oman, UAE, Bahrain,
Qatar, and Brunei.
54 www.thefinanceworld.com Dec 2024
Top 100 Expats
The turning point in Menon’s career
came in the 1990s when he identified
immense potential in the real estate
sector. His most iconic achievements
include contributing to the construction
of Oman’s Sultan Qaboos Grand
Mosque and Al Bustan Palace – projects
that became standing testaments to his
extraordinary design and construction
capabilities. In a remarkable recognition
of his contributions, the Sultan of Oman
granted Menon and his family Omani
citizenship in 1995 – a rare honor that
underscored his significant impact on
the region.
In the same year, Menon founded Sobha
Developers in Bangalore, naming the
company after his wife. The move was
strategic, entering the Indian real estate
market at a time when it desperately needed
quality construction. The company’s
public offering in 2006 was a testament
to his vision, receiving an unprecedented
oversubscription of 126 times.
Today, Sobha Ltd
stands as a $1.5 billion
market-cap company
with a presence in 24
cities and 13 states
across India. For five
consecutive years, it
has emerged as the top
developer among more
than 12,000 developers
in the country.
Menon’s entrepreneurial spirit knew
no boundaries. In 2003, he expanded to
the UAE, establishing Sobha Realty with
ambitious projects that would redefine
luxury living. Sobha Hartland, a $4 billion
luxury mixed-use development, and
District One, an $8 billion joint venture
with Meydan Group, showcased his ability
to create world-class residential spaces.
His business philosophy was simple yet
profound: three elements were essential
in creating an exceptional residence
– exquisite design, uncompromising
quality, and on-time delivery of projects.
Beyond business, Menon is renowned
for his philanthropic efforts that extend
far beyond traditional corporate social
responsibility. In 2016, he and his wife
Sobha joined The Giving Pledge, a philanthropic
initiative started by Warren Buffett
and Bill Gates, committing to donate
50 percent of their wealth to charitable
causes. Through the Sri Kurumba Educational
& Charitable Trust, established
in 1994, he has supported thousands of
families in his native Palakkad district.
The trust adopted two panchayats, helping
families with low monthly incomes and
providing education to children from
2,500 poor families.
Recognition and Global Acknowledgment
Menon’s contributions have been globally
recognized through numerous prestigious
awards from Golden Peacock Lifetime
Achievement Award for Business Leadership
in 2014and more. He is also a
member of the Prime Minister’s Advisory
Council of Overseas Indians, a testament
to his significant contributions to the
nation. Married to Sobha, with whom
he shares three children – two daughters,
Bindu and Revathi, and a son, Ravi
Menon – P.N.C. Menon’s personal life is
as carefully crafted as his professional
endeavors. His approach to business and
life is deeply rooted in values of quality,
integrity, and social responsibility.
Recent Philanthropic Milestones
In February 2024, Menon made a significant
contribution of INR 110 million
(USD 1.3M) to the BAPS Hindu Mandir
in Abu Dhabi, supporting the ongoing
construction and upkeep of the temple
– another example of his commitment to
community and cultural understanding.
A Legacy of Excellence
From a small interior decoration firm to
a global real estate powerhouse, P.N.C.
Menon’s journey exemplifies the transformative
power of vision, perseverance, and
unwavering commitment to excellence.
His story transcends business success –
it is a narrative of human potential, of
rising above circumstances, and creating
meaningful impact. Today, Sobha Group
stands as a multinational real estate and
construction group with diversified global
interests. Menon continues to serve on
the Board of Governors of the Rashid
Centre for People of Determination in
Dubai and is a valued partner of the Al
Jalila Foundation.
His story is not
just about building
structures, but about
building dreams,
creating opportunities,
and making a
meaningful impact on
communities across
the globe.
P.N.C. Menon remains a beacon of
inspiration for entrepreneurs, philanthropists,
and dreamers worldwide – a
true testament to the power of ambition,
hard work, and social responsibility.
About Sobha Realty
Founded in 1976 as an interior decoration
firm in Oman by PNC Menon, Sobha
Realty has evolved into an international
luxury real estate developer with a significant
presence across the UAE, Oman,
Bahrain, Brunei, and India. The company
has built its reputation on an unwavering
commitment to exceptional quality and
craftsmanship. Sobha Realty’s property
portfolio in Dubai is diverse and impressive,
featuring prominent developments
like Sobha Hartland, Sobha Seahaven,
Sobha Orbis, Skyscape Avenue, Sobha
Reserve Villas, and Verde by Sobha.
These projects span the residential,
retail and more.
The organization’s vision extends beyond
traditional real estate development.
Aspiring to become the most trusted real
estate organization globally, Sobha Realty
is deeply committed to sustainable development.
They have aligned themselves
with the United Nations Sustainable
Development Goals and support the
UAE’s net-zero emissions target by 2050.,
integrating environmental stewardship
and social responsibility into every aspect
of their operations.
Dec 2024 www.thefinanceworld.com 55
Top 100 Expats
PAUL
GRIFFITHS
Chief Executive Officer
Dubai Airports
HIGHLIGHTS
Year of Establishment:
2007
Nationality:
British
Industry:
Aviation
Awards & Recognition:
Trinity Award 2023
Paul Griffiths is a visionary leader who has transformed
Dubai’s aviation landscape, steering Dubai Airports
through some of the most challenging times in global
transportation history. As the first CEO of Dubai Airports,
appointed in October 2007, he has been instrumental in developing
what is now the world’s busiest international passenger
airport, Dubai International (DXB), and the ambitious Dubai
World Central – Al Maktoum International (DWC).
His journey to aviation leadership is anything but conventional.
A trained organist who once won numerous local
competitions and became a fellow of the Royal College of
Organists at just 22, Griffiths pivoted from a potential musical
career to the world of travel and transportation. Starting as
a Contracts Executive with the OSL/Wings travel group in
1977, he quickly demonstrated his entrepreneurial spirit by
establishing a software company developing proprietary information
management systems for the airline industry in 1989.
Before arriving in Dubai, Griffiths served as Managing
Director of London’s Gatwick Airport, further solidifying his
reputation as a leading figure in airport management. His move
to Dubai in 2007 marked the beginning of a transformative
period for the region’s aviation sector. He has since achieved
multiple milestone moments, including the flawless launch
of Terminal 3 at DXB, opening Dubai’s second airport, and
inaugurating the world’s first purpose-built A380 facility with
Concourse A in 2013.
A significant highlight of his tenure came on December 20,
2018, when he joined Dubai Airport’s Chairman HH Sheikh
Ahmed bin Saeed Al Maktoum in welcoming DXB’s billionth
guest - a testament to the airport’s global significance. Under
his leadership, Dubai Airports continues to develop an ambitious
“Aerotropolis” project at Dubai World Central, with
plans for five runways and 12 concourses that could potentially
accommodate more than 240 million passengers annually.
Beyond his professional achievements, Griffiths is a passionate
motorsport enthusiast. He actively collects and restores
motorcycles and cars, and regularly participates in motorsport
events in the UAE and internationally. His adventurous spirit
even extends to driving a Lotus F1 car around the Hungary
circuit, reflecting the same dynamic energy he brings to his
leadership in aviation. From his early days in London to the
ambitious aviation projects in Dubai, he has consistently
demonstrated an ability to navigate complex challenges with
innovation, and strategic thinking. His journey from a young
organist to a global aviation leader is a remarkable testament
to adaptability, vision, and relentless pursuit of excellence.
56 www.thefinanceworld.com Dec 2024
Top 100 Expats
PATRICK
CHALHOUB
Group President
Chalhoub Group
HIGHLIGHTS
Year of Establishment:
1995
Nationality:
Syrian
Industry:
Retail & Luxury Goods
Awards & Recognition:
Enigma Achievement Award
for Excellence in the Luxury
Retail Industry - 2022
Patrick Chalhoub is the Group President of Chalhoub
Group, a pioneering luxury goods retailer and distributor
that has been shaping the Middle Eastern luxury
market for over six decades. Born in Damascus, Syria, and
now based in Dubai, Patrick has transformed his family’s
business into a regional powerhouse in luxury retail. Joining
the family business in 1979, Patrick was appointed co-chief
executive officer alongside his late brother Anthony in 2001.
Under their leadership, Chalhoub Group expanded from a
local enterprise to a pan-regional luxury retail giant with a
network of over 700 physical stores across the Middle East
and North Africa.
The group represents hundreds of global luxury brands,
including Versace, Jimmy Choo, Jacquemus, and several
LVMH brands. Patrick has strategically developed a portfolio
of eight owned brands, including the multi-brand accessories
boutique Level Shoes, luxury department store Tryano, and
Faces, a premium beauty chain with over 80 stores across
12 countries. Beyond business success, Patrick is a strong
advocate for sustainability and innovation. He plays a crucial
role in developing the Chalhoub Group’s sustainability strategy
through Chalhoub Impact and champions concepts like
servant leadership and reverse mentorship. His commitment
to supporting entrepreneurship is evident in his efforts to
help startups scale up.
His leadership extends to significant global and regional
boards. He serves as a board member of the UN Global
Compact, a Council Member of UAE’s Circular Economy,
and a board member of the Dubai Chamber of Commerce &
Industry. Patrick has been instrumental in establishing joint
ventures and acquisitions that have strengthened Chalhoub
Group’s position as a hybrid retailer. A notable achievement
includes the successful turnaround of the Christofle brand,
which is now owned by the group. Patrick’s approach emphasizes
embracing change, driving strategic growth, and
building long-term relationships in the luxury retail sector.
The Chalhoub Group’s innovative approach to blending
global trends with local sensibilities has cemented its reputation
as a pioneer in the Middle Eastern retail landscape.
By leveraging strategic partnerships and embracing digital
transformation, the group has expanded its influence across
countries. He is also a strong advocate of embracing change
to drive strategic growth and long term relationships. The
group’s commitment to sustainability and fostering regional
talent further underscores its role as a driving force in shaping
the future of luxury retail in the region.
Dec 2024 www.thefinanceworld.com 57
Top 100 Expats
CAPTAIN
PRADEEP SINGH
Chairman
Aethon Group
HIGHLIGHTS
Year of Establishment:
2010
Nationality:
Indian
Industry:
Shipping, Real Estate
and IT
Awards & Recognition:
AsiaOne Business
Excellence Award
Global Indian Maritime
Personality of the Year
Transitioning from an accomplished maritime career,
Captain Singh founded Aethon Group in 2010, rapidly
establishing a robust business model spanning shipping,
real estate, technology, and trading. The flagship company,
Aethon Marine Services, stands recognized globally as a
leading risk management company in the shipping sector.
Under his strategic leadership, the group has achieved
remarkable milestones, generating a consolidated annual
turnover exceeding USD 1 billion and employing over 1,000
professionals across more than 30 companies. Spectrum
Networks, another standout venture, delivers award-winning
professional IT training with a strong presence in the MEA and
APAC regions, further cementing Captain Singh’s reputation
for fostering innovation.
In 2013, he launched Karma Real Estate Development
Group, revolutionizing the UAE’s luxury real estate market.
By capitalizing on Dubai’s booming property sector, Karma
Developers achieved multi-billion-dirham success, extending
its footprint globally to Cyprus, the UK, Romania, India and
beyond. With an active project pipeline worth AED 7-8 billion
and over 5 million square feet of developed property, Karma
epitomizes his visionary approach to real estate.
In the shipping domain, Aethon Marine Services has emerged
as a global leader in risk management, which is distinguished by
strategic technological investments and adaptive capabilities.
The company has maintained leadership with an upgraded
risk management tool, by investing in custom-made software
and cutting-edge technology to maintain a competitive edge.
Academically, Captain Singh’s credentials reflect an unrelenting
pursuit of excellence. With an impressive portfolio
of advanced degrees—including an MSc from Northampton
University, an MBA from The University of Manchester, a PhD
from City University Malaysia, and an LLM from Northumbria
University, he combines intellectual rigour with practical
expertise. As a chartered accountant with qualifications from
CPA Australia, and CIMA UK and an alumnus of Harvard
Business School’s Owner President Management Program,
he exemplifies the pinnacle of continuous learning.
Beyond his business acumen, Captain Singh is a true
mentor and philanthropist. His dedication to education,
skill development, and community welfare uplifts countless
individuals. By nurturing young talent and inspiring future
leaders, he proves that success is not only about personal
achievements but also about empowering others to thrive.
His unwavering commitment to creating a positive impact
ensures his legacy extends far beyond the corporate world.
58 www.thefinanceworld.com Dec 2024
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PAVAN SHARMA
Founder, CEO and Managing Director
First Response Healthcare
With a career spanning over 25 years, Pavan Sharma
has been a catalyst for change in the healthcare
industry. As the Managing Director and CEO of
First Response Healthcare (FRH), he has been instrumental
in bringing cutting-edge healthcare solutions directly to
people home’s across the Middle East. His journey across
India, Africa, and the UAE reflects a global perspective that
transcends borders. Established in 2018, FRH has quickly
become a pioneering home healthcare provider in the Gulf
region, with over 200+ 5 star hotels across gulf region including
Kempinski, Armani, Rixos, Address, and corporates like
EMAAR, Nakheel, etc. What sets him apart is his focus on
meaningful change, bringing primary healthcare to patients’
homes and leveraging technology to enhance accessibility.
Driven by a global vision for high-quality, on-demand care,
he has revolutionized patient experiences by providing 24/7
at-home medical solutions for families.
With plans to expand across the GCC, and launch a groundbreaking
healthcare management mobile app, Sharma continues
to be at the forefront of healthcare innovation. Pavan Sharma
exemplifies visionary leadership by redefining healthcare.
RAJEN A. KILACHAND
Chairman and President
Dodsal Group
Rajen A. Kilachand, known as the ‘Pipeline King,’ built
his fortune through the Dodsal Group, a company with
a rich history of securing major infrastructure contracts
both in the UAE and internationally. Established in Mumbai
in 1948 by the Nandlal Kilachand family in partnership with
a British trading firm, Dodsal is now a Dubai-based multibillion-dollar
enterprise with 10,000 employees across the globe.
The group operates across various sectors, including energy,
industry, and infrastructure, and has completed projects in
over 22 countries spanning the Middle East, Europe, Africa,
India, and Southeast Asia.
In 2015, Dodsal made a significant natural gas discovery
in Tanzania, following an exploration agreement signed with
the Tanzanian government in 2007. The discovery in the Ruvu
Basin, located 50km from Dar Es Salaam, was hailed as Tanzania’s
largest onshore natural gas find, with the potential to
greatly enhance the country’s reserves.
The group also announced its plans to raise an additional
$300 million through bank talks to fund its gas exploration
and production ventures in Tanzania. Under Kilachand’s
leadership, Dodsal continues to evolve.
Dec 2024 www.thefinanceworld.com 59
Top 100 Expats
RAMESH RAMAKRISHNAN
Chairman
Transworld Group
As the Chairman of Transworld Group, Ramesh Ramakrishnan
has transformed a modest family enterprise
into a formidable 900-strong international corporation,
carrying forward a legacy that began with his father’s remarkable
determination. What makes Ramakrishnan’s journey
is his profound commitment to human empowerment and
societal development. Born into a family that understood
challenges intimately, Ramakrishnan drew inspiration from
his late father, and inherited a philosophy of quality, reliability,
and unwavering commitment to excellence. Headquartered
in Dubai, Transworld Group has become a pivotal player in
international trade, with diverse verticals ranging from ship
owning and management to digital supply chain solutions.
Ramakrishnan’s strategic vision has been instrumental in
positioning the company as a key facilitator of economic
growth in the UAE. By being one of the earliest movers in the
Jebel Ali Free Zone and working closely with DP World, he
has played a crucial role in supporting the region’s economic
diversification efforts. He continues to steer Transworld Group
towards innovative horizons, most recently venturing into
aviation with luxury passenger jets under the Airavat brand.
RAMY JALLAD
Group CEO
Ras Al Khaimah Economic Zone (RAKEZ)
With over two decades of leadership experience, Ramy
Jallad, the CEO of Ras Al Khaimah Economic Zone
(RAKEZ) has transformed the region into a key
global business hub. Under his visionary leadership, RAKEZ
has grown to support over 18,000 companies from more than
100 countries, spanning sectors like manufacturing, logistics,
and technology. His strategic focus has been on creating a
business-friendly environment that promotes sustainability,
innovation, and digital transformation, aligning with the UAE’s
long-term economic goals.
The zone’s rapid digitalization, including fully digitalized
services, has made it an ideal destination for both start-ups
and multinational corporations. RAKEZ offers competitive
advantages such as visa facilitation, co-working spaces, and
a prime location, enhancing its appeal to investors globally.
By fostering economic diversification, RAKEZ contributes
significantly to job creation and regional growth.
The leadership also emphasizes strong regional partnerships,
having secured collaborations with entities like Etihad Credit
Insurance, reinforcing the economic zone’s role in supporting
industrial and trade businesses.
60 www.thefinanceworld.com Dec 2024
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RENUKA
JAGTIANI
Chairperson and CEO
Landmark Group
HIGHLIGHTS
Year of Establishment:
1973
Nationality:
Indian
Industry:
Retail
Awards & Recognition:
Businesswoman of the Year
in 2012
Renuka Jagtiani, Chairwoman of Landmark Group, leads
one of the Middle East’s largest and most successful
retail empires, steering it through substantial growth
and transformation. Originally founded in 1973 by her late
husband, Micky Jagtiani, as a single children’s store in Bahrain,
Landmark Group has evolved into a multinational enterprise.
Headquartered in Dubai since 1990, it now operates over 2,200
stores across 21 countries, including the UAE, India, Africa,
and Southeast Asia, in industries ranging from fashion and
home goods to electronics and healthcare. With iconic brands
such as Max, Centrepoint, Home Centre, and Fitness First,
Landmark has become a regional leader in retail, valued for
its deep understanding of local consumer preferences and
market trends.
Under Jagtiani’s leadership, Landmark has embraced digital
transformation, with a focus on e-commerce growth and
enhanced logistics infrastructure. To meet the increasing
digital demand, she spearheaded the construction of the
state-of-the-art Mega Distribution Centre (Mega DC) in Jebel
Ali. Spanning 3.5 million square feet, this fully automated hub
employs advanced robotic systems to speed up and streamline
distribution, supporting both retail operations and third-party
logistics (3PL) services in sectors like electronics and FMCG.
This innovation ensures Landmark can adapt rapidly to market
needs, with logistics playing a pivotal role in the company’s
expansion strategy. Sustainability is a core value in her
leadership. She has integrated eco-friendly practices across
Landmark’s operations, from responsibly sourcing materials
to reducing waste and energy consumption. Notably, the Mega
DC features the region’s largest solar rooftop, significantly
reducing the facility’s environmental impact. Landmark is also
committed to achieving net-zero emissions by 2050 and has
introduced initiatives to eliminate single-use plastics, aiming
to set a new standard for environmental responsibility within
the industry. In addition to her business success, Jagtiani is
dedicated to social responsibility. Through the Jagtiani Foundation,
Landmark has contributed to health and education
projects across the UAE, GCC, and India. Her leadership is
also strengthened by the support of her three children, Aarti,
Nisha, and Rahul, who hold senior positions within the Group,
ensuring continued family leadership. Her forward-thinking
vision for Landmark Group underscores her significant influence
in the retail sector. Through ongoing innovation, expansion,
and community engagement, Renuka Jagtiani has cemented
Landmark’s position as a dynamic and responsible force in
both Middle Eastern and global retail markets.
Dec 2024 www.thefinanceworld.com 61
Top 100 Expats
RITA HUANG ZHEN
Founder and CEO
iMile Delivery
Founded in 2017 by Rita Huang
Zhen, iMile has emerged as a
leading force in Middle Eastern
e-commerce logistics, revolutionizing
last-mile delivery services. Headquartered
in Dubai, iMile quickly grew into a global
powerhouse, with operations in over 20
locations worldwide. Zhen’s professional
background encompasses technology and
supply chain management, complemented
by over 15 years of experience within
the logistics and e-commerce sectors.
Prior to establishing iMile, she occupied
senior positions in various logistics and
technology organizations. These roles
enabled her to cultivate a comprehensive
understanding of the challenges and
opportunities prevalent in the rapidly
evolving delivery market. At the core of
iMile’s success lies its advanced proprietary
technology, which has become a
game-changer in the logistics industry.
ROBBY THOMMY
Managing Director
Al Jazeera International Catering LLC
With over three decades of experience
in the food service and
hospitality industries, Robby
Thommy, the Managing Director of Al
Jazeera International Catering LLC, has
been pivotal in the company’s growth
and success. His career began in the culinary
arts, where he developed a strong
foundation before transitioning into
leadership roles. Under his direction, Al
Jazeera International Catering expanded
its services across multiple sectors, including
hospitality, corporate, and event
management, becoming a prominent name
in the UAE’s catering industry. Robby’s
expertise in operational efficiency, client
relationship management, and business
growth has helped the company solidify
its market position. His leadership philosophy
is centered around empowering
others to realize their potential, fostering
an environment of growth and success.
RITESH TILANI
Co-founder
Enhance Ventures
Founded by Ritesh Tilani in 2016,
Enhance Ventures is a prominent
venture studio in the MENA region,
focused on creating digital businesses
in sectors such as e-commerce, fintech,
and marketplaces. Tilani, with over
20 years of expertise in management
consulting, venture capital, and entrepreneurship,
has been instrumental in
the firm’s success. Enhance Ventures is
known for launching impactful startups
like Joi Gifts and equipping them with
resources, expertise, and capital to thrive
in competitive markets. Tilani’s vision
emphasizes fostering entrepreneurship
and innovation to drive sustainable growth
in the region. With plans to explore AI
and blockchain technologies, Enhance
Ventures is shaping the future of digital
transformation and business scalability
in MENA.
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ROSS VEITCH
CEO and Co-Founder
WEGO
As CEO and Co-Founder of Wego, Ross Veitch has built
a technological platform that simplifies travel booking
for millions across the MENA region, connecting users
with hundreds of airlines, hotels, and online travel agencies
through top-ranked mobile apps and websites.
His journey to tech innovation wasn’t a straight path. Before
founding Wego, Veitch was a veteran of the Asian internet
industry, establishing Yahoo!’s Southeast Asian operations in
Singapore in 1998 and leading regional product development
for over six years. His early corporate experience at Deutsche
Bank in London and Tourism Australia in Sydney provided
a unique foundation for his entrepreneurial future. Wego
stands as a testament to Veitch’s strategic vision. Backed by
heavyweight investors including Tiger Global, Crescent Group,
Square Peg Capital, MEVP, and the MBC Group, the company
has dual headquarters in Singapore and Dubai—reflecting
Veitch’s global approach to business. Beyond building Wego,
Ross has established himself as a passionate supporter of the
startup ecosystem. For more than a decade, he has been an
angel investor and advisor, working closely with entrepreneurs
and helping to nurture innovative tech ventures.
RONALDO MOUCHAWAR
Founder and CEO
Souq.com
Starting Souq.com in 2005, Ronaldo Mouchawar revolutionised
the e-commerce landscape in the Middle East,
creating the largest online shopping platform in the
region. Through innovative strategies, like cash-on-delivery
and local delivery systems, Souq.com catered to the unique
needs of Middle Eastern consumers. Under Mouchawar’s
leadership, Souq.com attracted millions of users, eventually
leading to its acquisition by Amazon in 2017 for $580 million,
a landmark deal in the Arab tech industry.
Mouchawar’s background in engineering and business gave
him the foundation to understand the region’s potential for
digital transformation. His entrepreneurial spirit and commitment
to localizing technology empowered many businesses
and created economic opportunities across the Middle East.
Beyond Souq.com, Mouchawar has been a passionate advocate
for entrepreneurship, helping startups and championing the
role of technology in fostering economic growth. His focus
on bridging the gap between traditional business models and
emerging technologies has driven many regional enterprises
to innovate and scale. He continues to mentor the next generation
of leaders.
Dec 2024 www.thefinanceworld.com 63
Top 100 Expats
RUSSELL MEHTA
Chairman and Managing Director of Rosy Blue
Rosy Blue
Russell Mehta is a seasoned diamond
industry professional serving as
the managing director of Rosy
Blue (India) Pvt. Ltd., where he oversees
all group companies in India after
more than three decades of experience.
Beyond his corporate leadership, Mehta
is deeply involved in philanthropic work,
holding board and trustee positions with
several organizations including the Rosy
Blue Foundation, Vidyamandir Trust, and
Banaskantha District Kelavani Mandal.
Professionally, Russell is actively
engaged in industry leadership roles,
being a member of the Young Presidents’
Organization, the Bharat Diamond Bourse
Management Committee, and holding the
position of vice chairman at the Gem and
Jewellery Export Promotion Council. His
academic credentials include a commerce
degree from the University of Mumbai
and a specialized diploma in diamonds.
SAMER ABU LTAIF
President
Microsoft Middle East and Africa
Samer Abu Ltaif, previously the President
of Microsoft Middle East and
Africa (MEA), led the tech giant’s
operations across one of its most rapidly
growing and diverse regions. Managing a
team of 3,000 employees across 40 offices
in 79 countries spanning three continents,
Samer oversaw a dynamic ecosystem of
over 21,000 partners. As he transitions
into his new role as President of Central
and Eastern Europe, Middle East, and
Africa (CEMA), Samer will expand his
responsibility to include 33 European
countries, bringing his leadership to a
broader global stage.
Samer joined Microsoft in 2004 and
has held various senior positions within
the company. Most recently, he was
the General Manager of Microsoft Gulf,
leading initiatives aimed at enhancing
government innovation, modernizing
education, and stimulating SME growth.
SAHAR COOPER
Chief Executive Officer
Aldar Education
Sahar Cooper is a seasoned education
leader who has made a significant
mark in the UAE’s educational
landscape. As the Chief Executive Officer
of Aldar Education, she brings a
wealth of experience spanning over 25
years in school leadership and global
education management. Taking the
reins in October 2018, Sahar has been
instrumental in guiding the organisation
through an exciting phase of growth and
transformation.
Her professional journey is a testament
to her deep commitment to education.
With 19 years of senior leadership roles
in the UAE, Sahar has built an impressive
career that includes pivotal positions
at GEMS Education and the American
University of Sharjah. With her strategic
mindset and dedication, Sahar continues
to shape the future of education in Abu
Dhabi and beyond.
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SAMEH MUHTADI
CEO
RAK Properties
With a career spanning over three decades, Sameh Muhtadi
has established himself as a transformative leader in
the real estate sector. As CEO of RAK Properties, he
has significantly influenced the company’s growth trajectory,
leading it through numerous landmark developments in Ras
Al Khaimah, UAE. Muhtadi’s extensive background includes
senior roles at well-known organizations such as Arabtec
Construction and The Morgan Stanley-Orascom Infrastructure
Fund, giving him deep expertise in managing large-scale
projects and fostering innovation in the real estate market.
Muhtadi has been instrumental in advancing RAK Properties’
mission to develop sustainable and iconic communities.
Under his leadership, the company has embarked on ambitious
projects such as Mina Al Arab, a high-end, master-planned
community offering luxury residences, hotels, and leisure
facilities set against picturesque waterfront views. His focus
on blending local knowledge with international standards has
helped position RAK Properties as a key player in the UAE’s
competitive real estate market.
Guiding RAK Properties towards Ras Al Khaimah’s Vision,
Muhtadi prioritizes innovation and environmental sustainability.
SANTOSH VARGHESE
Vice President
Toshiba Gulf FZE
As Vice President of Toshiba Gulf FZE, Santosh Varghese
has successfully driven business growth and expansion
across the Middle East, Africa, and South Asia. With
over two decades of experience in business development
and operations management, he has significantly contributed
to Toshiba’s leadership in energy, infrastructure, and digital
solutions. Under his strategic direction, Toshiba has enhanced
its market share and revenue, particularly in smart solutions,
power systems, and energy efficiency.
Santosh’s prior roles in various multinational corporations
helped him hone his expertise in integrating technology and
sustainable solutions. He has been recognized for his forward-thinking
approach, fostering innovation and efficiency.
His leadership vision emphasizes sustainability, collaboration,
and empowering clients with cutting-edge solutions.
Santosh is committed to expanding Toshiba’s presence while
upholding its environmental and technological values. Under
his guidance, the company’s financial position has continued
to strengthen, positioning it for long-term success in a rapidly
evolving market. Through his leadership, Toshiba Gulf FZE
is set to continue advancing in its operations.
Dec 2024 www.thefinanceworld.com 65
Top 100 Expats
SCOTT MACFARLANE
Co-Founder and Chief Commerical Officer
The Twedex Group
Scott Macfarlane is the Co-founder and Chief Commercial
Officer of the Twedex Group. With a remarkable 15-year
journey through the intersections of education, travel,
and sports, Macfarlane has consistently demonstrated an
uncanny ability to anticipate and shape emerging trends.
His strategic acumen has been the driving force behind the
remarkable growth of Trans World Educational Experiences
and the World School Games, transforming them from ambitious
concepts into globally recognized platforms.
The World School Games stands as a testament to Macfarlane’s
innovative approach. What began as a bold initiative
has grown into a significant international platform where
young athletes from diverse backgrounds come together
to compete, collaborate, and forge lifelong friendships. His
strategic vision has attracted schools, athletes, and sponsors
from across the globe, turning the Games into a truly international
phenomenon. Macfarlane’s approach goes beyond mere
commercial success. He views each educational experience as
an opportunity to inspire and empower the next generation.
Looking to the future, he sees continued global expansion as
a mission to broaden students’ horizons.
SHAMLAL AHAMED
MD - International Operations
Malabar Gold & Diamonds
A
computer science graduate who traded coding for
carats, Shamlal Ahamed transformed a small family
business into a global jewellery empire that now spans
12 countries and boasts over 330 outlets.
The roots of Malabar Gold & Diamonds trace back to 1993,
when Shamlal’s father, MP Ahamed, a former spice farmer,
invested everything he had into establishing a small jewellery
store in Kozhikode, Kerala. With just eight employees and an
unwavering commitment to quality, the business began its
remarkable journey. Shamlal’s entry into the family business
wasn’t a calculated career move, but a natural progression.
Having grown up accompanying his father to showrooms and
workshops, he seamlessly transitioned into the jewellery trade.
Today, Malabar Gold & Diamonds stands as a testament to
his resilience and strategic vision. The company has expanded
to 14 manufacturing units across India and the GCC, offering
12 exclusive jewellery brands. From Singapore to Malaysia,
and with plans to enter Hong Kong, Indonesia, the US, and
the UK, the company continues to grow. From a small family
store in Kerala to a global retail powerhouse, his journey
demonstrates that success is about building trust, valuing
people, and continuously adapting to new challenges.
66 www.thefinanceworld.com Dec 2024
Top 100 Expats
SHAYNE KEITH NELSON
Group CEO
Emirates NBD Bank
Shayne Nelson stands at the helm of
Emirates NBD, one of the Middle
East’s most prominent banking
institutions, leading a global workforce
of 25,000 people across 13 countries and
serving over 14 million customers. Born
and raised in Melbourne, Australia, Nelson’s
journey in international banking is
marked by strategic leadership and transformative
achievements. Nelson played
a pivotal role in the bank’s international
expansion, including strategic moves like
signing memorandums of understanding
with Israeli banks following regional
diplomatic normalization. The bank now
operates 879 branches and 4,130 ATMs
across multiple countries, including the
UAE, Egypt, India, Turkey, and several
European nations. Beyond numbers and
strategies, he represents a modern banking
leader who understands the intersection
of technology, and financial services
SELIM KERVANCI
Chief Executive Officer
HSBC MENA
Selim Kervanci is set to become the
CEO for the Middle East, pending
regulatory approval, and will report
to the Co-CEOs of Asia and the Middle
East. Kervanci brings extensive regional
experience, having been on the MENAT
Executive Committee for over a decade
and currently serving as CEO of HSBC
Türkiye. Selim has worked in regional
roles for a number of years, has been on
the MENAT ExCo for more than 10 and
is currently CEO of HSBC Türkiye. He
joined HSBC in 1996 and has extensive
knowledge and experience across a
broad range of areas including driving
transformation, growing businesses,
and delivering financial performance in
volatile markets. Over the past 28 years,
he has built wide-ranging connections
with clients, officials, and regulators
across the Middle East.
SOHAN ROY
Chairman and CEO
Aries Group
Sohan Roy founded Aries Group
in 1998, with Aries Marine as its
flagship, and has since expanded
the conglomerate’s reach across 25
countries with 66 companies. Over the
past 26 years, the group has completed
more than 85,000 projects, working with
over 8,200 national and international clients.
To commemorate its silver jubilee,
the Sharjah-based firm distributed Dhs
13.4 million to employees. The group is
also known for its extensive corporate
social responsibility initiatives, including
pensions for employees’ parents, salaries
for unemployed spouses, housing for
senior staff, and education allowances
for employees’ children. Outside of
business, Roy is a published poet and
author, having written five books and
shared daily four-line poems on social
media for five years.
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Top 100 Expats
SHAISTA
ASIF
Co-Founder and Group Chief Executive Officer
PureHealth
HIGHLIGHTS
Year of Establishment:
2006
Nationality:
Pakistani
Industry:
Healthcare
Awards & Recognition:
100 Most Powerful
Businesswomen
Where technology meets compassion, Shaista Asif
stands as a transformative force reshaping the
healthcare landscape. As the Co-Founder and Group
Chief Operating Officer of PureHealth, she represents a new
generation of leaders who understand that innovation is not
just about technological advancement, but about creating
meaningful human impact.
Asif’s leadership journey is marked by bold, strategic
initiatives that transcend traditional business boundaries.
Under her guidance, PureHealth has become a beacon of
sustainable innovation, joining the United Nations-backed
Race to Zero initiative and boldly pledging to achieve Net Zero
emissions by 2040. This commitment reflects her profound
understanding that corporate success is intrinsically linked
to environmental responsibility.
Her technological vision has been particularly groundbreaking.
Spearheading AI-driven healthcare solutions,
Asif launched Pura, the region’s first AI-backed healthcare
companion app, demonstrating how cutting-edge technology
can be leveraged to enhance human health and longevity. The
launch of PureNet, a dedicated healthcare cloud platform,
further solidified PureHealth’s position at the forefront of
digital health transformation.
Beyond technological innovation, Asif is a passionate advocate
for women’s empowerment. Her commitment to gender
equality is evident in her organization of the Remarkable
Emirati Women Summit, which brought together over 500
female leaders and senior government officials under the
patronage of Her Highness Sheikha Fatima Bint Mubarak.
Through the Emirati Women Chapter, a mentorship initiative,
she actively works to inspire and support the next generation
of female leaders.
The recent leadership restructure, which positions her
for an expanded role ahead of PureHealth’s Initial Public
Offering, is a testament to her strategic acumen and leadership
potential. Her journey exemplifies a holistic approach
to leadership—one that balances technological innovation,
environmental sustainability, and social empowerment.
Shaista Asif represents more than a corporate executive;
she is a visionary who understands that true leadership is
about creating ecosystems of positive change, where technology,
sustainability, and human potential converge to drive
meaningful progress.
Her journey exemplifies how visionary leadership can
transcend boundaries, fostering innovation and empowering
communities to shape a sustainable future.
68 www.thefinanceworld.com Dec 2024
Top 100 Expats
SUNIL VASWANI
Group Chairman
Stallion Group
With a net worth of $7.48 billion, Sunil Vaswani is a
leading Indian business figure in the Gulf. Born in
Jaipur and based in Dubai, he has built Stallion Group
into one of the largest conglomerates in sub-Saharan Africa
since its founding in 1969. Raised in Nigeria, Vaswani is one
of Africa’s biggest investors and a strong advocate for the
continent’s growth potential. His investments in Africa have
made him the wealthiest Indian in the GCC, with his influence
expected to rise as GCC countries increasingly target Africa
as the next mega-market.
The group’s major operations are concentrated in West Africa,
particularly Nigeria, where it owns cold storage facilities,
automobile distribution plants, and showrooms. It manages
international automotive brands such as Honda, Hyundai,
Porsche, Volkswagen, Audi, Skoda, Mahindra, and Ashok
Leyland, along with products like rice and building materials.
Stallion Group is also involved in rice milling, plastics, vehicle
assembly, shipping, and transportation.
Despite challenges, Vaswani remains confident about the
region’s future. He is advancing plans to create a specialist
investment company to further expand the group’s operations.
SURENDER S. KANDHARI
Chairman and Founder
Al Dobowi Group
Surender Singh Kandhari’s entrepreneurial journey began
in 1975 when he arrived in Dubai on a brief exploratory
visit, later returning to establish Al Dobowi Group in
Deira, marking the start of a thriving business venture. The
name “Al Dobowi,” meaning “the man from Dubai” in Arabic,
was granted to him by the Dubai Municipality.
From its humble beginnings, Al Dobowi Group has expanded
its operations across all areas of tyre management, from
research and design to manufacturing, distribution, and retail.
The company has become one of the largest tyre distributors
in the world, in part due to strategic partnerships with global
tyre brands. In addition to tyres, Al Dobowi has diversified
into batteries, lubricants, conveyor belt systems, and technical
rubber products, and it is the exclusive distributor of Pirelli
and Bergougnan tyres in the region.
Kandhari’s business success extended to West Africa, where
he launched Infinity Tyres, and he has played a pivotal role in
the region’s booming tyre market, projected to reach $3.6 billion
by 2021. His philanthropic contributions are also notable,
including a $20 million donation for the creation of the first
official Sikh Gurudwara in the Middle East in Jebel Ali, Dubai.
Dec 2024 www.thefinanceworld.com 69
Top 100 Expats
SHAMSHEER
VAYALIL
Founder and Chairman
Burjeel Holdings
HIGHLIGHTS
Year of Establishment:
2007
Nationality:
Indian
Industry:
Healthcare
Awards & Recognition:
Sheikh Hamdan Bin Zayed Award
for Humanitarian Aid 2017
As a visionary leader, Dr. Shamsheer Vayalil has fundamentally
reshaped the healthcare landscape in
the Gulf Cooperation Council (GCC) region through
strategic innovation, entrepreneurial prowess, and a deep
commitment to transformative healthcare delivery. Since
founding his first hospital in Abu Dhabi in 2007, Dr. Vayalil has
masterfully orchestrated the growth of Burjeel Holdings from
a single medical facility into a comprehensive, multi-faceted
healthcare powerhouse that now spans multiple countries and
encompasses a diverse range of medical services. His journey
represents more than just business expansion; it is a testament
to his profound understanding of healthcare’s evolving needs
and his ability to create integrated, patient-centred solutions
that address complex medical challenges.
As a medical doctor turned strategic entrepreneur, Dr. Vayalil
has demonstrated an exceptional ability to balance clinical
expertise with bold business vision. He has systematically built
a robust healthcare network that includes hospitals, medical
centres, homecare services, occupational health programs,
and retail pharmacies under renowned brands like Burjeel,
BMC, Medeor, LLH, Lifecare, Tajmeel, and PhysioTherabia.
His strategic acumen is perhaps most visibly demonstrated
by successfully listing two companies on the Abu Dhabi
Securities Exchange, a move that not only validates his
business model but also signals his unwavering confidence
in the UAE’s economic potential and future.
Beyond his remarkable business achievements, he is deeply
committed to social impact and philanthropy. Rooted in the
values instilled during his upbringing in Kozhikode, India, he
views healthcare as more than a commercial enterprise—it
is a platform for community development and social transformation.
His philanthropic initiatives focus on expanding
healthcare access, supporting educational opportunities, and
nurturing the next generation of global entrepreneurs. As a
respected figure on several healthcare and industry boards,
including the UAE Medical Council, he continually works to
elevate healthcare standards and create opportunities for
innovation.
The scale of Dr. Vayalil’s impact is evident in Burjeel
Holdings’ impressive network of 89 assets across the UAE,
Oman, and Saudi Arabia, which includes 19 hospitals, 47
medical centres, and 15 pharmacies. With global expansion
initiatives like the Burjeel Institute for Global Health in the
US and strategic collaborations such as exploring investment
opportunities in Saudi Arabia, and a commitment to advancing
healthcare innovation, he continues to push the boundaries.
70 www.thefinanceworld.com Dec 2024
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SUNNY
VARKEY
Founder and Chairperson
GEMS Education
HIGHLIGHTS
Year of Establishment:
1959
Nationality:
Indian
Industry:
Education
Awards & Recognition:
Padmashri Award 2009
In the world of global education, few stories are as compelling
as that of Sunny Varkey—a visionary who transformed the
landscape of learning from the ground up. Born in 1957 in
Ranni, Kerala, to Syrian-Christian educators, Varkey’s journey
from a young boy selling fruit on the roadside to becoming
a transformative force in international education is nothing
short of inspirational. His story begins with his parents’ migration
to Dubai in 1959, a time when the emirate was still a
developing frontier, bringing with them a passion for teaching
and a belief in the power of education.
From humble beginnings, Varkey’s entrepreneurial spirit
revealed itself early. At eleven, he was selling fruit by the
roadside; by his twenties, he was exploring diverse business
avenues from banking to trading. However, his true calling
emerged in 1980 when he took over his parents’ small school
in Dubai—a decision that would dramatically reshape international
education. Recognizing the critical need for quality
education among expatriate communities, Varkey began
creating schools that transcended traditional boundaries,
offering diverse international curricula and providing educational
opportunities for children who might otherwise be
marginalized.
The launch of GEMS Education in 2000 was a watershed
moment. What began as a modest educational venture rapidly
transformed into the world’s largest K-12 private education
provider, spanning over 250 schools across 13 countries. But for
Varkey, education was never merely a business proposition—it
was a profound social calling. The establishment of the Varkey
Foundation in 2010 crystallized this commitment, with
an audacious goal of positively impacting 100 impoverished
children for every student enrolled in a GEMS school.
His philanthropic vision reached new heights in 2015 when
he became the first education entrepreneur to join The Giving
Pledge, promising to donate at least half his wealth to charitable
causes. Recognized as a UNESCO Goodwill Ambassador,
Varkey demonstrated that entrepreneurial success and social
responsibility are not mutually exclusive, but fundamentally
interconnected.
Today, with his sons Dino and Jay continuing his legacy at
GEMS Education, Sunny Varkey’s journey stands as a powerful
testament to the potential of visionary thinking. From
a family of educators to a global educational powerhouse,
his story illuminates how individual determination, coupled
with a genuine commitment to societal transformation, can
reshape the future—one student at a time. His impact resonates
globally, inspiring generations to pursue excellence.
Dec 2024 www.thefinanceworld.com 71
Top 100 Expats
SIR TIM
CLARK
President
Emirates Airlines
HIGHLIGHTS
Year of Establishment:
1985
Nationality:
British
Industry:
Aviation
Awards & Recognition:
CAPA Airline Executive of
the Year - 2022
Sir Timothy Clark has played a pivotal role in transforming
Emirates from a modest two-aircraft operation into one
of the world’s most influential international airlines,
combining strategic vision with steadfast leadership. His
remarkable journey began in 1985 when he joined Emirates
as Head of Airline Planning, quickly becoming the driving
force behind the airline’s extraordinary global expansion.
Under his guidance, Emirates evolved from a regional carrier
into a global powerhouse, now serving 130 cities across six
continents and revolutionizing international air travel.
He attended Kent College, Canterbury, and is a fellow of
the Royal Aeronautical Society. Clark is also an economics
graduate from the University of London. Before joining
Emirates, Clark’s career in aviation included significant roles
at British Caledonian and Gulf Air, experiences that laid the
groundwork for his future success. However, it was in Dubai
that he truly made his mark, becoming an essential part of
the airline’s founding team and shaping its future trajectory.
His career is a masterclass in strategic planning and visionary
leadership, transforming Emirates from a small operation
into a global aviation leader that has consistently redefined
industry standards.
Clark’s impact goes beyond business metrics. As Chairman
of the Emirates Airline Foundation, he has shown a deep
commitment to social responsibility, focusing on supporting
children worldwide. This philanthropic work reflects his
belief that corporate success should go hand-in-hand with
meaningful societal contribution. His dedication to social
causes adds depth to his legacy, highlighting that his vision
extends far beyond the airline industry.
Clark’s contributions to aviation have been widely recognized,
with numerous prestigious awards. His leadership
combines strategic brilliance, operational expertise, and a
forward-thinking approach, not only transforming Emirates
but also influencing the broader aviation landscape. Now in
his mid-70s, Clark remains a dynamic and influential figure
in aviation.
From his early days in airline planning to becoming the
architect of one of the world’s most respected airlines, Clark
has consistently demonstrated an ability to anticipate industry
trends, take calculated risks, and turn ambitious visions into
reality. As he continues to guide Emirates into the future, his
legacy serves as an inspiration to aspiring leaders in aviation
and beyond, proving that with strategic thinking, determination,
and a holistic approach to business and social responsibility,
extraordinary achievements are possible.
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THIERRY SABBAGH
Divisional Vice President M&S President Middle East, KSA, CIS
Nissan Motors and INFINITI
Nissan appointed Thierry Sabbagh
as President of Nissan Saudi
Arabia on April 1, 2022, while
retaining his role as Managing Director
of Nissan Middle East. With over 20 years
of experience in sales, marketing, and
business development across MENA,
Sabbagh joined Nissan in 2018 as Director
of Sales, leading performance across
Gulf, Levant, and North Africa markets.
Promoted to Managing Director in 2019,
he has driven operational excellence and
achieved Nissan NEXT transformation
goals, fostering sustainable growth and
honoring the brand’s 70-year heritage
in the Middle East. Sabbagh holds a
Business/Hotel Management degree
from the University of West London and
a Leadership with Finance certification
from Harvard.
TOM HARVEY
General Manager - Commercial
Spinneys Dubai LLC
With a robust background in the
supermarket sector, Harvey
transitioned from the UK to the
UAE in 2017, joining Spinneys’ commercial
team. Since then, he has been a key driver
of strategic initiatives that support local
entrepreneurship and business growth.
In 2020, Harvey spearheaded the
Spinneys Local Business Incubator Programme
launch, directly aligning with the
UAE’s vision to become a global hub for
entrepreneurs. This innovative program
identifies and supports emerging local
food brands, providing them with a fast
track to market and essential resources
for growth. Overseeing a global team
across four continents, Harvey manages
product sourcing for Spinneys stores
in the UAE, Oman, and Saudi Arabia.
His leadership ensures the availability
of high-quality products and drives the
company’s commercial strategies.
THOMAS LUNDGREN
Founder & CEO
THE One
Founded by Thomas Lundgren in
1996, THE One revolutionized the
Middle Eastern home furnishings
market with its direct-to-consumer
model, offering stylish, functional, and
affordable furniture with a focus on
sustainability. Lundgren, inspired by his
experience at IKEA, aimed to create a
store that broke away from traditional
retail norms. After relocating to Dubai,
Lundgren faced significant challenges,
including securing funding, but overcame
them to open the first store in Abu Dhabi.
THE One quickly grew into one of the
region’s largest home furnishing chains
with over 20 stores across the Middle East
and North Africa. Lundgren’s innovative
leadership and commitment to customer
satisfaction have played a key role in
the company’s success and expansion.
Dec 2024 www.thefinanceworld.com 73
Top 100 Expats
DR. THUMBAY
MOIDEEN
President
Thumbay Group
HIGHLIGHTS
Year of Establishment:
1997
Nationality:
Indian
Industry:
Diversified
Awards & Recognition:
Top 100 Indian Leaders in
the UAE - 2016
Dr. Thumbay Moideen is a businessman who turned a
simple start into something remarkable. Born in Mangalore,
India, he took over his family’s business when
he was just 21 years old. His big break came when he moved
to the United Arab Emirates. His eyes were set on international
markets, and the UAE caught his attention because of
its incredible growth and business-friendly environment. A
random transit through Dubai would change his life forever.
During a brief stopover, he met Ajman’s ruling family
member and started a conversation about economic development.
Moideen shared a story about an Indian town that had
transformed into a medical hub, suggesting that a medical
school could bring great opportunities to Ajman.
A few days later, Moideen was unexpectedly invited to
meet the Ruler of Ajman. When asked about his experience
in running a medical school, he candidly admitted knowing
more about timber and real estate, with his family owning
only a hospital and some educational institutions in India.
Impressed by his honesty, the ruler challenged him to build
a medical school.
Though hesitant, Moideen consulted top university experts
and conducted a thorough study, uncovering significant potential
for a medical university in Ajman. With government
support, he secured a royal decree to own an educational
institution and land for the college.
In January 1998, Gulf Medical College was established,
evolving into Gulf Medical University (GMU) a decade later.
Now one of the UAE’s top medical universities, GMU attracts
students from over 75 nationalities with its unique learning
approach. Moideen’s healthcare journey began when he built
Thumbay Hospital in Ajman in 2002 to train medical students.
This expanded into a network of four academic hospitals in
the UAE and one in India, treating patients from 175 countries
with staff from 22 nations speaking over 50 languages.
The Thumbay Group now operates in 20 different sectors.
Beyond hospitals and universities, the group has businesses
in diagnostics, medical tourism, wellness, hospitality, retail,
publishing, real estate, technology, and media. Some of their
brands include Thumbay Labs, Thumbay Pharmacy, Body &
Soul Health Club, and even a restaurant and coffee shop.
From a young man managing his family’s timber business
to a global business leader, Dr. Thumbay Moideen shows
that with vision, hard work, and the courage to take chances,
remarkable things are possible. His journey reflects an unwavering
commitment to excellence and innovation, inspiring
countless entrepreneurs worldwide.
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YOGESH BULCHANDANI
Founder & Chief Executive Officer
Sunrise Capital Real Estate
After graduating from Bentley University in 2013 with a
Bachelor of Science in Entrepreneurship and Finance,
Yogesh Bulchandani brought a unique blend of academic
rigour and entrepreneurial spirit to the UAE’s thriving property
market. His journey in real estate began with a strategic entry
into Sunrise Transcon, where he astutely identified market
opportunities that later became the foundation of his ventures.
In 2017, he established Sky Capital Group, a real estate
investment firm, which was followed by the launch of Sunrise
Capital Real Estate in 2022 – a company that would quickly
distinguish itself in Dubai’s competitive development landscape.
Bulchandani’s first major project, Legend by Sunrise,
was a statement of his innovative approach, featuring unique
spaces and awe-inspiring vertical gardens that set new standards
for urban living. As a hands-on leader, Bulchandani is
deeply involved in every aspect of the business. Each project
of Sunrise Capital is strategically located, offering not
just luxurious living spaces, but a holistic experience that
integrates advanced technologies and sustainable practices.
With ambitious goals to establish Sunrise Capital as the most
trusted name in the industry, he continues to push boundaries.
YASSER ABDULMALAK
Chairman and Chief Executive Officer
Nestlé MENA
Since assuming the role of Chairman and CEO of Nestlé
MENA in January 2022, Yasser Abdulmalak has orchestrated
a remarkable expansion that goes far beyond traditional
corporate leadership. His vision extends well beyond balance
sheets, aligning closely with regional economic development
strategies like Saudi Arabia’s Vision 2030.
Under his leadership, Nestlé Middle East has become a
powerhouse, employing over 13,000 people across 19 countries
and operating 24 factories. Malak’s career trajectory within
Nestlé is a testament to his strategic acumen. From leading
Nestlé Türkiye to managing the North East Africa region
and serving as Dairy Category Head in Switzerland, he has
cultivated a deep understanding of regional market dynamics.
The appointment to the Dubai International Chamber’s
board of directors in July 2023 further underscores Malak’s
significance in the regional business ecosystem. His leadership
has been particularly notable in driving growth, with Nestlé
MENA reporting near double-digit expansion in early 2022,
driven by a strategic focus on affordable products in Central
and West Africa. His journey with Nestlé is a blueprint for
strategic leadership in the modern business landscape.
Dec 2024 www.thefinanceworld.com 75
Top 100 Expats
YUSUFF
ALI M.A.
Chairman & Managing Director
Lulu Group
HIGHLIGHTS
Year of Establishment:
1995
Nationality:
Indian
Industry:
Hypermarkets and Retail
Awards & Recognition:
Top Civilian Honour by His
Highness Sheikh Mohamed
bin Zayed Al Nahyan
From Village Dreams to Global Retail Empire: The Extraordinary
Journey of Yusuff Ali
In the vibrant landscape of global business, few
stories are as inspiring as that of Yusuff Ali, the visionary
entrepreneur who transformed a small trading business into a
multinational retail powerhouse. Born on November 15, 1955,
in the modest village of Nattika in Kerala’s Thrissur district,
Ali’s journey is a remarkable tale of determination, strategic
thinking, and entrepreneurial brilliance.
The Humble Beginnings
Raised in a simple rural setting, Ali learned the fundamentals
of trade from his father, who ran a small local business. These
early lessons would become the foundation of his future success.
In 1973, at just 18 years old, he made a pivotal decision that
would change the trajectory of his life – moving to Abu Dhabi
to work with his paternal uncle in a small trading business.
In 1995, Ali founded LuLu Group International, initially
concentrating on trading and supplying goods across the
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Gulf region. His entrepreneurial journey
took a significant leap forward when he
expanded into the large-format retail
market, opening the first Lulu Hypermarket
in Abu Dhabi. This strategic
move revolutionized the Middle Eastern
retail sector, offering a wide range of
affordable daily-use products that catered
specifically to Gulf residents. By
2000, the group had rapidly expanded
across GCC countries, establishing supermarkets
in Dubai, Kuwait, Bahrain,
Oman, Yemen, Qatar, and Saudi Arabia.
Ali’s business acumen and passion for
quality customer satisfaction propelled
LuLu Group to unprecedented heights.
Today, LuLu Group International stands
as a global retail giant.
With an annual
turnover of US$8.4
billion, the group
employs over 65,000
people from 42
different nationalities.
The company operates more than 250
hypermarkets and shopping malls across
24 countries, sourcing products from 85
different countries.
Ali’s business vision extends far beyond
retail. The LuLu Group has diversified
into multiple sectors, including food
processing, hospitality, and real estate.
The group’s operations now span three
continents, with a presence in major
Middle Eastern and African countries,
including UAE, Oman, Qatar, Kuwait,
Yemen, Saudi Arabia, Bahrain, Egypt,
and Kenya. In India, the group has made
significant investments, including the
LuLu International Shopping Mall in
Kochi, which is currently the largest
shopping mall in the country. The group
has also expanded into other Indian cities,
including Bengaluru, Thiruvananthapuram,
Lucknow, Hyderabad, Palakkad,
and Coimbatore.
Beyond business success, Ali is equally
renowned for his philanthropic contributions.
Through the Yusuff Ali Foundation,
he has been actively supporting social
causes in education, disaster relief, and
healthcare across the UAE, India, and
other parts of the globe.
Some of his notable philanthropic
efforts include
• Joining hands with Dubai Cares to
adopt schools in Gaza and Nepal
• Establishing a multi-faith funeral center
for the Indian community in Sharjah
• Promoting products grown by special
needs communities in the UAE
• Significant contributions to disaster
relief efforts, including donations for
Gujarat earthquake, Tsunami relief,
and Kerala flood victims
The company recently achieved a
significant milestone with its initial
public offering (IPO) on the Abu Dhabi
Securities Exchange (ADX), marking
the exchange’s 100th listing. The IPO
was a massive success, with 82,000 retail
investors subscribing to the shares,
demonstrating the public’s trust in the
LuLu brand. The listing is expected to
propel Yusuff Ali’s net worth to $7.6
billion, a substantial increase from $5.3
billion in 2023.
Married and a father of three daughters,
Ali lives in Abu Dhabi. His family
has integrated into the business world,
with his daughters married to successful
entrepreneurs and businesspeople. His
leadership style is characterized by a
strong work ethic, strategic vision, and
a commitment to quality and customer
satisfaction.
A Visionary’s Legacy
Yusuff Ali represents more than just a
business success story. He embodies the
spirit of entrepreneurship, demonstrating
how vision, hard work, and strategic
thinking can transform modest beginnings
into a global enterprise. From a
small village in Kerala to the helm of an
international retail conglomerate, his
journey is a powerful narrative of ambition,
resilience, and the transformative power
of entrepreneurship. As he reflects on his
journey, Ali continues to express gratitude
to the UAE’s leadership, particularly the
late Sheikh Zayed bin Sultan Al Nahyan
and current President Sheikh Mohamed
bin Zayed Al Nahyan, crediting them for
creating an environment that allowed
entrepreneurs like him to thrive.
From a small trading center in 1974
to a global retail empire, Yusuff Ali’s
story is a remarkable testament to the
power of dreams, determination, and
strategic vision.
About Lulu Group
Lulu Retail is the largest full-line retailer
across the Gulf Cooperation Council (GCC)
region, distinguished by its impressive
market leadership in selling space, sales
volume, and store network. The organization
has strategically positioned itself as
a comprehensive retail solution provider
with a robust omnichannel presence that
spans both traditional brick-and-mortar
stores and cutting-edge digital platforms.
The company’s operational footprint
is extensive, featuring a network of 241
stores across 6 GCC countries. This
diverse store portfolio includes 116
Hypermarkets, 102 Express Stores, and
22 Mini Markets, providing customers
with convenient shopping options tailored
to various needs and preferences.
Complementing its physical presence,
Lulu Retail offers a sophisticated e-commerce
experience through its proprietary
web and mobile applications, as well
as strategic partnerships with leading
platforms like Amazon, HungerStation,
Snoonu, and Talabat.
At the core of Lulu Retail’s success is
its innovative approach to supply chain
management and sourcing. The company
sources products from 85 impressive
countries worldwide, demonstrating a
strategic commitment to mitigating supply
risks and ensuring consistent product
availability. This approach has earned
Lulu Retail recognition as a mandated
food security partner, underlining its
critical role in the region’s economic
ecosystem. The organization operates
on a philosophy of delivering the “right
products in the right place at the right
time,” which is supported by its vertically
integrated supply chain that spans from
manufacturing to retail.
Lulu Retail is part of the larger LuLu
Group International, a highly diversified
conglomerate founded by the acclaimed
business visionary Yusuff Ali M.A. The
group has established a remarkable global
presence. The company’s competitive
edge stems from its deep understanding
of consumer needs, comprehensive
supply chain integration, and ability to
adapt to changing market dynamics. By
maintaining a well-balanced product offering
and leveraging both physical and
digital channels, Lulu Retail continues to
drive innovation and expand its market
presence, solidifying its position as a key
player in the regional retail landscape.
Dec 2024 www.thefinanceworld.com 77
Top 100 Expats
ZUBIN
KARKARIA
Founder & CEO
VFS Global Group
HIGHLIGHTS
Year of Establishment:
2001
Nationality:
Indian
Industry:
Visa Services
Awards & Recognition:
Global Game Changers Award
2019
Zubin Karkaria has transformed VFS Global from a small
regional operation serving one client government to a
global leader in visa and consular services. His remarkable
journey began in 2001 when he launched the company
with just three application centres in Western India, which
has since expanded to more than 3,400 application centres
across 153 countries, serving 68 client governments and
processing over 292 million applications.
With more than 30 years of experience in the travel and
tourism industry and a proven track record of building a
global business, Zubin has successfully navigated numerous
challenges. As a strong proponent of emerging technologies,
he has been instrumental in embedding innovative solutions
into the core strategies of VFS Global.
Karkaria’s professional trajectory is marked by strategic
innovation and global vision. He established the company’s
headquarters in Dubai and formed a pivotal partnership with
Emirates in 2002 to manage UAE visa services worldwide.
This strategic move expanded the network to 40 visa centres
serving multiple client governments, solidifying VFS Global’s
position in the international market. His leadership skills were
further recognized when he served as CEO of Kuoni Group
from 2015 to 2017. His entrepreneurial journey exemplifies
how strategic vision and persistent innovation can transform
a small startup into a global industry leader.
By combining sharp business acumen with exceptional
organizational capabilities, Karkaria has not only built a
world-leading visa facilitation services company but also established
a benchmark for international business expansion in
the travel and tourism sector. Karkaria also maintains strong
family ties and cultural connections, regularly visiting the
agiary (Parsi fire temple) with his wife and three children in
Mumbai. This personal commitment mirrors his professional
approach of blending global ambition with deep-rooted values.
His ability to navigate complex international markets while
preserving personal and cultural identity sets him apart as a
truly global business leader.
The success of VFS Global under Karkaria’s leadership
demonstrates the power of innovative thinking and strategic
planning. By identifying a critical need in the global travel and
visa services market, he created a scalable business model
that has revolutionized how governments and travellers interact
with visa processing systems. His approach transformed
what was once a bureaucratic and complex process into an
efficient, user-friendly global service, setting new benchmarks
for excellence in the industry.
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DR. ZULEKHA
DAUD
Founder and Chairperson
Zulekha Healthcare Group
HIGHLIGHTS
Year of Establishment:
1992
Nationality:
Indian
Industry:
Healthcare
Awards & Recognition:
Lifetime Achievement -
Healthcare Award 2012
Breaking barriers and healing nations. Dr. Zulekha
Daud emerged as a pioneering force who transformed
healthcare landscapes across India and the UAE. From
humble beginnings as the daughter of a construction worker
to becoming a celebrated physician-entrepreneur, her story
is a powerful testament to resilience, compassion, and unwavering
determination.
When Daud arrived in the UAE in 1964, she became the first
female Indian doctor to practice in the emirate—a milestone
that would set the stage for her groundbreaking medical career.
In an era when healthcare facilities were basic and resources
scarce, she fearlessly delivered over 10,000 babies, earning
the endearing nickname ‘Mama Zulekha’ and establishing
herself as a beacon of hope for countless families.
Her entrepreneurial spirit truly blossomed in 1992 with the
establishment of her first hospital in Sharjah. What began as
a modest 30-bed facility has since evolved into the Zulekha
Healthcare Group, now one of the largest private healthcare
networks in the Emirates, treating approximately 550,000
patients annually. This remarkable growth reflects not just
her business acumen, but her profound commitment to accessible,
high-quality healthcare.
Daud’s vision extends far beyond hospital walls. Her
philanthropic efforts include establishing Zed, a vocational
training centre in Nagpur, implementing clean drinking water
initiatives, and adopting non-functional educational institutes.
Her strategic partnership with the IFC, securing a $24 million
financing deal, demonstrates her innovative approach to
expanding healthcare infrastructure.
Her contributions have not gone unnoticed. She received
the prestigious Pravasi Bhartiya Samman Award in 2019 and
was personally honoured by Sheikh Abdullah bin Zayed Al
Nahyan for her five decades of invaluable healthcare contributions.
Her community initiatives promoting early detection
of life-threatening diseases have touched thousands of lives
across India and the UAE.
Dr. Zulekha Daud represents more than a medical professional—she
embodies the spirit of transformative leadership.
Her journey from a small-town medical graduate to an international
healthcare leader illustrates how individual passion
can create systemic change, inspire generations, and bridge
healthcare disparities.
Her story is a powerful reminder that with courage, compassion,
and vision, one can heal not just individuals, but
entire communities, leaving a lasting legacy of resilience
and hope, and inspiring others to create meaningful change.
Dec 2024 www.thefinanceworld.com 79
Top 100 Expats
ZIAD
EL CHAAR
Chief Executive Officer
DarGlobal
HIGHLIGHTS
Year of Establishment:
2021
Nationality:
Lebanese
Industry:
Real Estate
Awards & Recognition:
100 Most Inspiring Leaders
2024
As the Chief Executive Officer of DarGlobal PLC, Ziad
El Chaar has transformed the company into a beacon
of luxury real estate development, targeting the most
discerning global citizens across the Middle East and Europe.
El Chaar’s professional journey is a remarkable narrative
of strategic excellence and persistent innovation. Joining
DarGlobal in May 2017, he brought with him over 20 years
of experience in real estate development and investment,
coupled with a decade of expertise in corporate governance,
board management, and regulatory compliance. His impressive
career trajectory includes pivotal leadership roles at some of
the most prominent real estate companies in the region: CEO
of Ventures and Business Development at Emaar Properties,
CEO at Dar Al Arkan Real Estate Development Company, and
Managing Director and Executive Director on the board of
directors at DAMAC Properties.
Under El Chaar’s leadership, DarGlobal has distinguished
itself as more than just a real estate company. It’s a curator of
lifestyle experiences, strategically focusing on second homes
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in some of the world’s most desirable
locations.
The company’s
portfolio spans
Downtown Dubai, the
serene landscapes
of Muscat in Oman,
and the picturesque
Costa del Sol region
in Southern Spain.
These carefully selected destinations
offer unique investment opportunities
for internationally mobile customers
seeking luxury properties that are both
exceptional to live in and promising as
investments. One of El Chaar’s most
distinctive strategies has been forging
partnerships with iconic global luxury
brands. The company has collaborated
with renowned names like Missoni, Versace,
W Hotels, and Elie Saab, creating
properties that blend aesthetic excellence
with investment value. A standout collaboration
is with The Trump Organization,
which has resulted in multiple high-profile
projects across the GCC. These include the
upcoming Trump Tower Dubai, featuring
a luxury hotel and branded residences, a
residential tower in Jeddah, Saudi Arabia,
and a $200 million Trump-branded
project in Oman.
The company’s unique approach
extends beyond traditional real estate
development. DarGlobal was originally
established to manage and develop the
international assets of Dar Al Arkan Real
Estate Development PJSC, a leading Saudi
Arabian real estate developer. Since
2007, Dar Al Arkan has delivered over
15,000 residential units. El Chaar sees an
exciting future in the sector, particularly
in hospitality assets, with plans to acquire
or build hotels in markets like Spain,
Dubai, Maldives, Athens, Marrakesh,
and London, and sell them after three
to five years of operation.
El Chaar’s vision goes beyond simple
property development. He recognizes a
growing trend among affluent international
customers – the desire for second homes,
vacation properties, and particularly,
second primary homes that emerged
prominently after the pandemic. A
significant milestone in the company’s
journey came on February 28, 2023, when
DarGlobal was admitted to the Main
Market of the London Stock Exchange.
This achievement underscores El Chaar’s
strategic leadership and the company’s
robust growth potential.
With over USD 6 billion in projects
under development, his ambitious goal
is to position DarGlobal among the top
50 global developers within the next
decade. Beyond DarGlobal, El Chaar
continues to drive innovation in the real
estate ecosystem. He serves as Chairman
of Wasalt, a leading PropTech company,
and Vice Chairman of Quara Holding,
which has established some of the biggest
names in real estate and finance,
including Dar Al Arkan, Khair Capital,
and Quara Finance.
Academically grounded with a Master’s
in Business Administration from
the American University in Beirut, El
Chaar combines scholarly insight with
entrepreneurial dynamism.He believes the
luxury second homes sector is still in its
infancy – only 10 to 15 years old – with
tremendous potential for growth. His approach
is not just about selling properties,
but about creating lifestyle experiences
that resonate with global citizens seeking
something extraordinary.For the global
elite seeking more than just a home, Ziad
El Chaar and DarGlobal offer a passport
to exceptional living – a testament to his
unique ability to transform real estate
into an art form of luxury, innovation,
and strategic investment.
We are not
just real estate
developers. We
are also a lifestyle,
entertainment
and investment
company.
About DarGlobal
DarGlobal profoundly believes in the
timeless value of luxury, a form of wealth
that inherently grows and represents
one of the most visionary investments
in our rapidly evolving world. Founded
in 2021 with the ambitious goal of revolutionizing
the global luxury real estate
market, the company seamlessly blends
extensive experience with cutting-edge
innovation to deliver properties of unparalleled
quality. The company’s homes
are meticulously crafted by world-class
architects and inspired by iconic design
and fashion influences. Each property is
constructed using premium materials
and maintained by leading experts in the
field. DarGlobal prides itself on being a
pioneer in identifying the most prestigious
and attractive locations, thereby offering
lucrative investment opportunities
to a discerning global clientele. With
a forward-looking strategy, DarGlobal
is set to expand its focus to hospitality
assets. The company plans to acquire or
build hotels in key markets like Spain,
Dubai, Maldives, Athens, Marrakesh,
and London, with the intention of selling
these properties after three to five
years of operation once their revenue
streams stabilize. This approach reflects
the company’s innovative thinking and
adaptability in the dynamic real estate
market. DarGlobal’s vision extends
beyond mere property development.
The company recognizes the emerging
trend of second homes, particularly in
the post-pandemic world, and caters to
affluent international customers seeking
luxury properties that are not just homes,
but investment opportunities and lifestyle
statements. By offering limited edition
luxury housing co-branded with iconic
names like Lamborghini and Dolce &
Gabbana, DarGlobal is redefining the
concept of real estate investment.
Dec 2024 www.thefinanceworld.com 81
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