Its petrochemical subsidiaries include Taghleef Industries and Adeka Al Ghurair Additives, a chemical additives manufacturer. The Al Ghurair Group opened the BurJuman Centre, a luxury shopping mall, in 1991. [22] Arabian Can Industry originally made three-piece food cans and later expanded to manufacture a variety of cans for foods and both edible and industrial oils; neck-in-cans and cans with plastic handles; and can components such as lids. Al Ghurair Investment is one of the largest diversified family business groups in the Middle East, with operations in seven distinct industry sectors: foods, resources, properties, construction, energy, transportation and ventures. [1] The grandsons of Al Ghurair Group founder Ahmad Al Ghurair run the group. Sheikh Mohammed bin Rashid offers condolences at the Al Ghurair family home Saif Al Ghurair, one of Dubai's most prominent businessmen, has died aged 95 Sheikh Mohammed bin Rashid, left, at the Al Ghurair family residence. From makeup mogul Kylie Jenner to Hong Kong real estate heir Jonathan Kwok, these 10 billionaires are worth $15.9 billion combined. Al Ghurair Energy is an active and trusted partner within the energy trading, and The Group's financial investments include a major stake in Mashreq Bank. [5] [29] This acquisition gave the company its first North American manufacturing plant. Home to Silicon Valley, it’s no wonder California has so many of the world’s richest. Al Ghurair and his brother Abdulla, also a billionaire, are scions of an old Dubai merchant family that harvested pearls from the Arabian Gulf. His brother Saif Al Ghurair, who passed away in August 2019, was also a billionaire. [1][10] The restructuring of the Al Ghurair Group was completed by 1994. [34] REFCO uses aluminum from the group's Gulf Extrusions subsidiary. [7] He is also a member and Young Global Leader of the World Economic Forum. Mexico's richest citizens have lost billions after an already tumultuous year for Latin America's second-largest economy turned worse. [33], The Royal Engineering Fabrication Company (REFCO), a wholly owned subsidiary of the Al Ghurair Group that manufactures aluminum parts for automobiles, opened a new fabrication plant in Jebel Ali in 2013. [31] TALEX was the first industrial project to be launched in Kizard. [29] In 2014, Taghleef Industries acquired Spanish manufacturer Derprosa Film. The EGI family members play a cohesive role, each with his own strengths, to manage the group’s diversity. (EGI) was founded by Mr. Essa Abdulla Al Ghurair in 2012, forming a board of directors comprising his four sons, bringing a wealth of experience from three generations of family enterprises. [20], The Al Ghurair Group founded Dubai Poly Film, a manufacturer of biaxially oriented polypropylene, in 1998. The manufacturing division also includes Al Ghurair Iron & Steel, a cold rolling and galvanizing complex located in Mussafah. Saif Al Ghurair passed away in August 2019. The Al Ghurair Investment portfolio also includes printing & publishing, retail, education and currency exchange. [22], The Reef Mall, a DH 220,000,000 shopping mall, opened in February 2005. Al Ghurair was born in Deira in 1924 and soon began working in the family business - pearl diving. Al Ghurair Real Estate oversees the group's real estate portfolio. Al Ghurair Investment, chaired by Abdulla Al Ghurair, focused on the family's finance, food, and construction businesses. [8] Majid Saif Al Ghurair graduated from Al Ain University with a bachelors in Accounting. Roughly half of the planet's 2,095 billionaires are now citizens of either the United States or China. [21] The Al Ghurair Group established Arabian Can Industry a year later in 1999. The group's manufacturing businesses include petrochemicals, aluminum and steel, and packaging. Most other countries have fewer billionaires this year than they did a year ago. Al Ghurair Resources is a key player in the commodities sector, specialising in grains, oils, proteins and pulses. [13] The plant opened in 1979. These are the 10 states with the largest number of the world's richest. A history of pioneering innovative businesses built on excellence, trust and responsibility. [25] The Mussafah-based DH 300,000,000 plant opened in July 2008. [2] He is the chairman of Drake & Scull International and the Middle East Council of Shopping Centers and a board member of Investcorp Bank BSC. [18][19] The metro station located near BurJuman was renamed to BurJuman station in 2012. All Rights Reserved. [27] The new company was renamed Taghleef Industries. Abdul Rahman Saif Al Ghurair serves as group chairman and Majid Saif Al Ghurair is the group's chief executive officer. Abdul Rahman Saif Al Ghurair serves as group chairman and Majid Saif Al Ghurair is the group's chief executive officer. The Al Ghurair Group's packaging businesses include Arabian Packaging, a corrugated packaging manufacturer, Arabian Flexible Packaging, and Arabian Can Industry, a manufacturer of multipurpose cans. [9], The history of the Al Ghurair Group traces back to the 1930s when Ahmad Al Ghurair and his son Saif were pearl divers in Dubai. Nippon Steel & Sumitomo Metal, one of the world's biggest steel producers, has a minority stake in Al Ghurair Steel. Despite the worst stock market crash since the 2008 financial crisis, the 20 richest Americans are worth nearly $1 trillion combined. [14][15] Arabian Packaging, a producer of corrugated packaging, was founded by the group in 1982.[16]. Long before the unification of the emirates, Mr. Abdullah had been involved in many humanitarian causes. Though stocks of the world’s biggest tech companies fell in March in response to the coronavirus pandemic, founders of tech giants, starting with Jeff Bezos, still dominate the uppermost ranks of Forbes’ new billionaires list. [1][26], In 2006, Dubai Poly Film was merged with two other companies, AKPP and Technopack. COMPANY PROFILE Essa Al Ghurair Investment L.L.C. 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[10] The Al Ghurair Group built the United Arab Emirates' first cement factory, flour mill, and sugar refinery.