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2017 tycoons’ rundown: Meet the 5 wealthiest individuals in UAE

Posted by admin on November 20, 2017
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DUBAI: Did you know that the UAE is home to 21 billionaires? Yes, you read that right and it may not come as a surprise that most of their source of wealth came from tangible investment, Real Estate. In this article, Atmosphere Real Estate Group reveals UAE’s top 5.

 

1. Majid Al Futtaim

Total assets: $10.6 billion (up from $5 billion of every 2016)

Ongoing total assets: $11.4 billion (as of October 3)

Wellspring of riches: Real Estate, Retail

Worldwide rank: 125

Who is he: Majid Al Futtaim owns the Dubai-based holding company that operates shopping centers, retail and recreation foundations. Some of his well-known establishments are Mall of the Emirates which has an indoor ski and Carrefour hypermarkets.

 

2. Abdulla Bin Ahmad Al Ghurair

Total assets: $6.8 billion (up from $4.9 billion out of 2016)

Constant total assets: $7 billion (as of October 3)

Wellspring of riches: Diversified

Worldwide rank: 202

Who is he: The father of another Emirati tycoon, Abdul Aziz Al Ghurair who runs Mashreq bank, Abdulla Al Ghurair has recently pledged to donate 33% of his riches to support educational programs.

3. Abdulla Al Futtaim

Total assets: $4.1 billion (up from $ 3.1 billion of every 2016)

Constant total assets: $4 billion (as of October 3)

Wellspring of riches: Auto Dealers, Investments

Worldwide rank: 427

Who is he: Abdulla Al Futtaim is the owner of Al Futtaim Group, a corporation that exclusively sells Toyota and Honda vehicles in the UAE. His portfolio likewise incorporates well-known establishments for worldwide brands like Ikea, Marks and Spencer and Toys “R” Us.

4. Hussain Sajwani

Total assets: $3.7 billion

Constant total assets: $4.8 billion (as of October 3)

Wellspring of riches: Real Estate

Worldwide rank: 501

Who is he: Hussain Sajwani is the founder of Residential and Real Estate Developer, Damac Properties, which began in 2002. The units in his initial 38-story condo building venture were sold in under a half year before development even began. His organization tied up with Donald Trump in 2013, preceding the last turned into the leader of the United States.

5. Saif Al Ghurair 

Total assets: $2.1 billion (down from $2.2 billion of every 2016)

Ongoing total assets: $1.96 billion (as of October 3)

Wellspring of riches: Diversified

Worldwide rank: 973

Who is he: Saif Al Ghurair is the former chairman of family-claimed holding organization Al Ghurair Group. His six sons now manage the company’s businesses in the steel, packaging and retail industries.

Keep in mind, 90% of the wealthiest people on earth become so through owning a real estate. Be one, let us help you buy your first property or build your investment portfolio. Our team of RERA certified investment advisors will work towards your goal. Call us today at +971525215206 or email info@AtmosphereRealEstate.com. 

Source: Gulf News 

Photo Credit: Google 

 

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