Dubai Holding: From used furniture to Dh100bn billion

Dubai Media City

Gergawi receives nod to hand over reins of Dubai Holding

By Angel Chan

DUBAI: According to Mohammed Al Gergawi, Chairman, Dubai Holding started from rented offices with used furniture some 18 years ago.

Today, the group businesses and projects operate in 21 countries, with 22,000 employees and assets exceed Dh100 billion across different sectors.

Dubai Holding Commercial Operations Group 2016 Highlights:

  • Dubai Holding net profit was up 8% to Dh6.32 billion.
  • Total revenue was up 16% to Dh16.84 billion
  • Region’s first design and innovation university, Dubai Institute of Design and Innovation
  • Jumeirah Group continued global expansion in China and Turkey; opened Jumeirah Al Naseem with 430 hotel rooms
Mohammed Gergawi
Mohammed Gergawi

Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding announced that his mission as Chairman of the group had come to an end, paving the way for another talented person to take over. Gergawi will now dedicate his full time and effort to his duties in the government.

He said he has obtained the blessing of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, after having put Dubai Holding.

Sheikh Mohammed Bin Rashid Al Maktoum commented that the performance of Dubai Holding was exceptional since its inception 18 years back, where it had added creative, innovation based new sectors to the economy by establishing specialized parks in media, content, technology, knowledge, design research and sciences in addition to a world-class name in the hospitality sector.

“We thank Mohammed Al Gergawi for his excellence in the all the responsibilities he was overlooking, his performance in Dubai Holding was exceptional and we appreciate his service to his country in the different fields”.

“Dubai Holding added real value to our national economy, and Mohammed Al Gergawi is a role model for responsible, successful and sincere officials,” he said.

“Eighteen years back, we chose Mohammed Al Gergawi through number of secret shoppers who were following his performance. We gave him the responsibility of tackling a lot of challenges and he succeeded, and we gave him our trust after we saw his dedication and sincerity in servicing his country. He and his distinguished fellow Emarati compatriots are appreciated and thanked for their achievements and dedication,” he added.

Al Gergawi took a trip down memory lane to the beginnings of Dubai Holding, sharing his reminiscences.

“We started at Dubai Holding 18 years ago in rented offices with used furniture and with a small loan. Today, the group businesses and projects operate in 21 countries, with 22,000 employees working in various sectors. When we first started, we were faced with a challenging situation, as we only had one remote piece of land in Dubai and only Dh200 million loan. Today the group’s assets exceed Dh100 billion across different sectors.”