Company Insights Al Ghurair Group Manufacturing Al Ghurair Group Overview Pearl divers and traders since the beginning of the 20th century, the Al Ghurair family created the Al Ghurair Group in 1960. The group built the United Arab Emirates’ first cement factory, flour mill and sugar refinery. Al Ghurair Group remains a family-owned business and has three main lines of business: manufacturing, real estate and investments. Its manufacturing businesses include petrochemicals, aluminium and steel, and packaging. Al Ghurair Real Estate oversees the group’s real estate portfolio, and it also operates shopping malls, including the BurJurman Centre and Reef Mall. Financial investments include a stake in Mashreq Bank. Al Ghurair Group News Banking & Finance Mashreq’s earnings up as loans and deposits rise Dubai-listed lender Mashreq said its net profit rose 14 percent year on year to AED4 billion ($1.1 billion) in the first six months of 2024 on higher interest income, business expansion and minimal risk costs. Net profit before tax grew 24 percent to AED4.5 billion. Net interest income increased 17 percent year on year to […] July 26, 2024 Retail GCC retail industry concern as shoppers move online The Gulf’s retail industry remains an area of concern amid ongoing changes in consumer spending habits. The Q2 2023 edition of the Middle East Turnaround and Restructuring Survey, published by professional services firm Alvarez & Marsal, found more than two-thirds of respondents anticipated continued pressures in the sector as consumers increasingly turn to digital shopping […] September 6, 2023 Video length: 04:29 VIDEO Banking & Finance UAE family businesses: ‘bigger cake, bigger problem’ Inefficient governance and incomplete succession planning are the two main challenges facing UAE family businesses, says the chairman of Dubai Chambers. Over the past 50 years family businesses have evolved from being small operations to multi-billion-dollar conglomerates. The sector now accounts for 60 percent of the country’s GDP. “The bigger the cake, the bigger the […] May 17, 2023 Manufacturing Kezad and Al Ghurair Foods sign lease for $272m projects Khalifa Economic Zones Abu Dhabi (Kezad Group), a wholly-owned subsidiary of AD Ports Group, and Al Ghurair Foods, a part of UAE-based Al Ghurair Investment, have signed a 50-year land lease agreement for three food processing projects worth over AED1 billion ($272.31 million). The agreement marks the first phase of Al Ghurair Foods division’s investments […] April 30, 2023 EXCLUSIVE Development Gulf donors contribute a third of non-profit Spark’s funding GCC donors account for more than one-third of funding for Spark, a non-profit international development organisation that supports startups in fragile and conflict-affected countries in Mena. “The GCC is our second-largest source of funds owing to a mix of state donors, philanthropic foundations, charitable organisations and Zakat,” Spark’s founder and CEO, Yannick du Pont, told […] March 21, 2023 Analysis Banking & Finance Fintech competition means UAE banks must change to survive The banking sector in the UAE could grow faster than the nation’s economy but competition from fintechs poses a threat to the survival of banks unless they restructure their operating models, according to a senior industry official. Abdul Aziz Al Ghurair, chairman of the UAE Banks Federation, warned that banks will have to change the […] November 15, 2022 Posts navigation
Banking & Finance Mashreq’s earnings up as loans and deposits rise Dubai-listed lender Mashreq said its net profit rose 14 percent year on year to AED4 billion ($1.1 billion) in the first six months of 2024 on higher interest income, business expansion and minimal risk costs. Net profit before tax grew 24 percent to AED4.5 billion. Net interest income increased 17 percent year on year to […] July 26, 2024
Retail GCC retail industry concern as shoppers move online The Gulf’s retail industry remains an area of concern amid ongoing changes in consumer spending habits. The Q2 2023 edition of the Middle East Turnaround and Restructuring Survey, published by professional services firm Alvarez & Marsal, found more than two-thirds of respondents anticipated continued pressures in the sector as consumers increasingly turn to digital shopping […] September 6, 2023
Video length: 04:29 VIDEO Banking & Finance UAE family businesses: ‘bigger cake, bigger problem’ Inefficient governance and incomplete succession planning are the two main challenges facing UAE family businesses, says the chairman of Dubai Chambers. Over the past 50 years family businesses have evolved from being small operations to multi-billion-dollar conglomerates. The sector now accounts for 60 percent of the country’s GDP. “The bigger the cake, the bigger the […] May 17, 2023
Manufacturing Kezad and Al Ghurair Foods sign lease for $272m projects Khalifa Economic Zones Abu Dhabi (Kezad Group), a wholly-owned subsidiary of AD Ports Group, and Al Ghurair Foods, a part of UAE-based Al Ghurair Investment, have signed a 50-year land lease agreement for three food processing projects worth over AED1 billion ($272.31 million). The agreement marks the first phase of Al Ghurair Foods division’s investments […] April 30, 2023
EXCLUSIVE Development Gulf donors contribute a third of non-profit Spark’s funding GCC donors account for more than one-third of funding for Spark, a non-profit international development organisation that supports startups in fragile and conflict-affected countries in Mena. “The GCC is our second-largest source of funds owing to a mix of state donors, philanthropic foundations, charitable organisations and Zakat,” Spark’s founder and CEO, Yannick du Pont, told […] March 21, 2023
Analysis Banking & Finance Fintech competition means UAE banks must change to survive The banking sector in the UAE could grow faster than the nation’s economy but competition from fintechs poses a threat to the survival of banks unless they restructure their operating models, according to a senior industry official. Abdul Aziz Al Ghurair, chairman of the UAE Banks Federation, warned that banks will have to change the […] November 15, 2022
