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Richest Indians in Gulf

Dr P Mohamed Ali is among the top richest Indians in Gulf.Through Building Galfar back in year 1972.

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Richest Indians in Gulf

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  1. RichestIndiansinGulf By Construction week online

  2. Micky Jagtiani • Worth:$2.65bn • According to Arabian Business retail king Micky Jagtiani on $2.65 billion. • Nearly $1 billion ahead of second placed BR Shetty, founder of the NMC Group. • Jagtiania’s Landmark Group is now one of the Gulf’s biggest retail empires, with 900 stores in 15 countries. • Its operations turnover $3.2 billion per year, employing 31,000 staff. • The company was launched in Bahrain in 1973 with just a single store.

  3. BR Shetty, NMC Group • Worth: $1.7bn • Managing director and CEO of the Abu Dhabi-based New Medical Centre (NMC) Group of companies. • Interests in hospitals and hospitality also diversified into sectors including pharmaceuticals, financial services, retail, real estate and IT. • In 2009, the President of India awarded him one of the country’s highest civilian honours, the ‘Padma Shri’.

  4. Chhabria family, Jumbo Group • Worth: $1.45bn • The owner of the $2.5 billion transnational conglomerate, Jumbo Group. • Major acquisitions were the following six companies:  • Shaw Wallace (liquor manufacturer), • Dunlop India and Falcon Tyres (both rubber tire manufacturers), • Hindustan Dorr Oliver (water treatment and pollution control projects), • Mather & Platt (pump-set manufacturers) • Gordon Woodroffe (freight carrier). • The total asset value of these companies ran to about $600 million

  5. Yusuff Ali MA, Emke • Worth: $1.3bn • One of the largest Indian-owned conglomerates in the Gulf. • Owner of the Lulu chain of hypermarkets. • Named by The Wall Street Journal as one of the twenty most influential people in the UAE. • Received one of the country’s highest civilian honours, the ‘Padma Shri’. • Been conferred with the prestigious ‘PravasiBharatiyaSamman Award’; the highest Indian government award given to non-resident Indians.

  6. PNC Menon, Sobha Developers • Worth: $1.25bn • He founded Sobha Developers, named after his wife in Bangalore. • Omani citizen PNC Menon, took the No. 754 spot in Forbes’ 2007 list of the world’s top billionaires. • Born in Kerala, Menon migrated to Oman in 1976 to launch an interior decorating business with a partner. • Sobha Developers is one of the largest companies in Oman’s construction industry.

  7. Ramesh Prabhakar, Rivoli • Worth: $950 million • Ramesh Prabhakar is the managing partner, of the UAE-based Rivoli Group. • One of the region’s largest importers and retailers of luxury brands. • The group’s brand portfolio includes names such as Montblanc, Longines, Dunhill, Links of London, Kenzo and Vertu. In 2007, Dubai International Capital acquired a “significant” stake in the group. • The company’s stores now offer products ranging from watches and menswear, to accessories, gift items and eyewear

  8. RajenKilachand, Dodsal Group • Worth; $900m • Founded more than six decades ago in Mumbai. • Interests in engineering, mining, trading and hospitality. • “My aim is to have the company build on its existing strengths in the EPC sector and develop into a group which becomes a knowledge-based conglomerate and a manufacturer of high technology products for nuclear, space and defence,” Kilachand says in a note on his group’s website.

  9. Tony Jashanmal, Jashanmal Group • Worth: $800 million • With roots dating back to 1919. • Jashanmal’ is a household name across the Middle East. • The group began trading in Basra, Iraq, with a single store. • Today, executive director Tony Jashanmal leads a UAE-based corporation with multi-channel activities across the GCC and India. • Its interests range from logistics to travel retail, with a diverse product group that includes home appliances, luggage and print media.

  10. Dr P Mohamed Ali, Galfar • Worth: $725m • As the founder of Galfar Engineering and Contracting Co, Dr P Mohamed Ali has earned his stripes as one of the Gulf’s leading entrepreneurs. • From its start in 1972, the firm has grown into the single largest private sector employer in Oman. • Annual turnover of more than $1bn and more than 27,000 staff. • Dr Ali is the founder of the Oman Petroleum Alliance and the former vice chairman of the state-backed Omanisation Joint Committee. • Dr Ali has been awarded the Oman Civil Order for his services to the sultanate and, in 2004, received the coveted Outstanding Non-Resident Indian Award.

  11. Sunny Varkey, GEMS • Worth: $650m • Founder for Global Education Management Systems (GEMS). • education group, GEMS, has morphed from a single Indian primary school to the biggest provider of K12 education in the world. • Teaches 100,000 students in 100 schools across 11 countries. • Awarded the ‘Padma Shri’ in recognition of his contribution to education and social services. 

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