How Saif Ahmad Al Ghurair Built One of the UAE’s Largest Family Businesses

Dubai, the city of gold, is considered the first choice among billionaires and millionaires for their holiday packages. The reason is its luxurious style and aura of richness, which attract billions of people from all over the globe. 

Image credit: Gulf Business

There is great support from one of the richest successful businessmen, Saif Ahmad Al Ghurair, who shaped Dubai into a city of Gold. This article will discuss how the Al Ghurair Group formed and achieved successful distinction in Dubai.

Table of Contents

Introduction

Al Ghurair Group is a Dubai-based business company, a diversified, family-owned conglomerate with interests in manufacturing, real estate, and financial investments. This family business has gained so much popularity with its work in different sectors and participation in transforming the city.

The journey of this successful venture started in 1960 by Saif Ahmad Al Ghurair, an Emirati billionaire businessman who built one of the richest empires in Dubai City. A family member controls the company.

This business venture has played an important role in transforming Dubai’s economy with leading hands in different profitable sectors like manufacturing, real estate, and others.

At present, the Al Ghurair Group, involved in the operation of shopping malls and managing a large real estate portfolio in Dubai, continues to pursue growth opportunities while adhering to its values of excellence, innovation, and integrity.

Dubai’s Richest Businessmen

Dubai City in the UAE has some of the most successful businessmen, and Al Ghurair Group is among the ones that are known as the most prestigious and richest business group involved in real estate, manufacturing, and retail. 

One of the most reputed and advanced business groups in the UAE, the Group today has many varied industries—stretching from manufacturing flexible plastic films to extruded aluminium and galvanised steel, together with other packaging products.

This group has also opened a second Burjuman Centre and formed Taghleef Industries, which also denotes a powerful businessman who contributes to the Dubai economy and helps attract billions of travellers every year. The company has a great stock portfolio in many other companies, and one of the significant investments they made was in Mashreq. 

Founder of Ahmad Al Ghurair Business Group

Only a strong seed can be nurtured into a strong tree, and here that seed was Saif Ahmad Al Ghurair, who founded this group in 1960. His vision and dedication to success have made this business group the richest business in Dubai. 

He was born in 1924 in Deira along the banks of Dubai Creek. The eldest of five sons belonging to Ahmed Al Ghurair, he soon took over the family profession: pearl diving. Even as a teen, he would leave the shore to spend up to four months at sea, subsisting on nothing but rice, dates, and fish.

In the 1930s, the introduction of cultured pearls from Japan reduced the profitability of pearl diving as a business, and so the family branched out into trading. The small pearling boats were refurbished, extended, and loaded for long voyages, and these began taking dates from Iraq to Africa and India for textiles and teak logs for boat building. Later, they began shipping gold because Dubai was fast becoming a great centre for gold trade.

Family Members of the Al Ghurair Group

Al Ghurair Group is a family business, and all members are running it with great dedication. It was started by Saif Ahmed Al Ghurair, whose father, Ahmed Majid Al Ghurair, was a lifelong pearl diver. Saif was the elder brother among five others whose names were Saif, Abdulla, Majid, Marwan, and Jomaa, who also helped him in managing this business. 

When Saif Ahmad Al Ghurair died in Dubai in August 2019 at the age of 95 and was buried in Qusais Cemetery, Dubai, on 27 August 2019, then the business was taken over by his grandson, Al Ghurair Group founder Ahmad Al Ghurair, to run the group. Abdul Rahman Saif Al Ghurair serves as group chairman, and Majid Saif Al Ghurair is the group’s chief executive officer.

Important Facts of Saif Al Ahmad Ghurair and Al Ghurair Group

Businesses of Al Ghurair Group

Al Ghurair Group started its journey from traditional pearl diving, and then they captured the most profitable business in the city, which has been listed here:

1. Manufacturing: Al Ghurair Group is involved in the manufacturing sector of Dubai and has transformed the luxurious face of this city. This business group has worked in manufacturing some of the luxurious hotels, malls, hospitals, and other official buildings.

2. Real estate: Saif Al Ahmad Ghurair is known as a great person in the business world of Dubai, and he was involved in the real estate business, which made him among the richest landowners in Dubai, which later contributed to making Dubai a luxurious spot for millions of travellers every year. 

3. Financial Investment: A hand in financial investment is the key to success, and this was a part of the Al Ghurair Group, which helped them to manage their profit and shape their large part of income into more financial wealth. 

Conclusion

Saif Al Ahmad Ghurair is the pioneer of this business group, which is now managed by his family members. This company has transformed Dubai into a more luxurious place for tourists and other visitors who regularly take a turn to visit here. 

The journey of Saif Al Ahmad Ghurair is very impressive in the way he worked hard and was dedicated to transforming it into a successful brand in the city of gold, Dubai. He was also well-connected with the rulers of the UAE and helped them to reach this stage of recognition.