Indians are some of the earliest ex-pats who poured into Dubai and other parts of the UAE. It is therefore no surprise now that the richest Indians in Dubai are celebrated figures, who are famous for their successes in business, and for are some of the foresight as well as business acumen that has helped them rise above the challenges that come with doing business in a foreign country.
To attain this level of success, one must have love for his new environment, this will provide a higher amount of drive to explore the country deeper, and find solutions to problems that affect the people. This deeper understanding will help one discover the best ways of doing business, and the best way to win the hearts of the populace with your brand.
One can therefore say that the richest Indians in Dubai are the most business savvy, and financially astute people in the business world of Dubai and the United Arab Emirates.
Richest Indians in Dubai
1. Micky Jagtiani
Net worth: $3.9 Billion
Industry: Retail Commerce
Mukesh Wadhumal Jagtiani was born in India and schooled in Chennai, Mumbai, and Beirut. He also enrolled in school in London, although he did not finish school. Today he is an Indian billionaire businessman based in Dubai.
Mickey Jagtiani as he is called by friends and associates is the chairman and owner of the Dubai-based Landmark Group. His businesses are vast and diverse and involve retailing of clothing, footwear, consumer electronics, cosmetics & beauty products, home improvement products, and baby products.
Micky Jagtiani is rated as the richest Indian businessman in the United Arab Emirates.
2. Feroz Allana
Net-worth: 4.3 Billion dollars
Industry: Processed Foods
Feroz Allana is one of the wealthiest Indians in the UAE. He is the owner and founder of the food manufacturer and distributor IFFCO, which he controls with the Allana Group. Irfan Allana, son of Feroz Allana is chairman of the company. Some of the brands under the Allana Group are Al Baker, London Dairy, Noor, Tiffany, Rahma, Khaleej, and the popular Igloo candy.
3. Raghuvinder Kataria
Net worth: 2.5 billion
Industry: Diversified Investments
Raghuvinder Kataria is another one of the richest Indians doing well in Dubai. He is also a British citizen. He heads the Kataria Holdings, which is a conglomerate that has businesses including real estate, automobile sales including cars, trucks, and heavy-duty vehicles. The company also has investments in property and telecommunication. The company is rapidly increasing its market share in the real estate sector of the central business district of Dubai.
4. Yusuffali MA
Net-worth: $2 billion
Industry: Retail Commerce
Yussuffali MA was born in Kerala, India, and studied in Nattika where he did his diploma in Business Management and Administration. He then went to Abu Dhabi in 1973 to seek more opportunities. His Uncle, M K Abdullah, the chairman and the founder of the LuLu Group of companies then took him under his wings.
Yusuffali MA has grown the business into a powerful empire with diverse sections including a retail arm, and a hypermarkets chain. LuLu Group International is one of the biggest retail chains in the world.
5. BR Shetty
Net- worth: $1.9 billion
Industry: Health, Diversified Investments
BR Shetty can be described as a health entrepreneur. He was born in Karnataka, India, and was educated at Manipal, India. After a brief stint working in the health sector of his local municipality, BR Shetty then went to UAE, where the success came in leaps and bounds. BR Shetty has built a health empire NMC Health and has seen mixed fortunes.
Aside from his Health empire, BR Shetty has ventured into other sectors such as global financial services and retail chains. That success, however, seems to have landed him in trouble. He has been slammed with charges of alleged fraud and forgery charges. Sources confirm that BR Shetty is cooperating with investigations and that no criminal involvement has been proven.
6. Ravi Pillai
Net worth: $1.85 billion
Industry: Real Estate, Construction, Diversified Investments
Ravi Pillai was born in what is now Kollam, Kerala, India. His parents were farmers, but they managed to give him a good education; he obtained a degree in Commerce from Cochin University. He then went to Saudi Arabia in 1978, where he had a trading business. He is now a Dubai-based Indian billionaire businessman. His company the RP Group is involved in diverse business ventures including construction and infrastructure, real estate development, hotels, healthcare and wellness, and then education.
7. Sunny Varkey
Net worth: $1.6 billion
Sunny Varkey was born in Ranni, Kerala, India, to a family of Educators. His family moved to Dubai in 1959, when he was just two years old. His father worked for the British Bank of the Middle East, and his mother taught English to local Arabs, including the royal family.
Now Sunny Varkey is one of the richest Indians in Dubai and the whole of the Middle East. He has an education empire. Sunny Varkey established the GEMS Education in 2003, and today it is a multi-billion dollar enterprise with schools operating across the UAE, Saudi Arabia, Qatar, the UK, Europe, North America, and of course India.
8. Vidya Chhabria
Net worth: 1.4 billion
Industry: Retail, Electronics
Vidya Chhabria is the wife of late Manu Chhabria who founded Jumbo, a distributor of consumer electronics with partnerships with several major electronic makers. Sony, Microsoft, Huawei, and Cisco, among others, have long histories with the company. There are several other companies in their portfolios, and the company is growing. Jumbo currently has about 2000 people on its payroll.
9. Tony Jashanmal
Net worth: $1 billion
Tony Jashanmal’s family has had a long history of doing business in the Middle East, first in Iraq in the 1910s, and then Kuwait in 1934, Bahrain in 1935, before settling in UAE where they opened stores in Dubai in 1956. Now the Jashanmal brand is one of the top fashion empires in the world; one of the largest in Dubai.
10. Pagarani Family
New-worth: $1.1 billion
The Pagarani Family is the name behind the Choithrams brand. They have several supermarkets across the country, and the company has been operating in the UAE since the 1970’s even though it was established in Sierra Leone. The company has now grown into a real international retail empire with locations across the Middle East.
The richest Indians in Dubai and the whole of the Emirates are mostly involved in the retail sales of Fast Moving Consumer Goods. There is a bit of manufacturing; but that is mostly food processing, which is also related to Fast Moving Consumer Goods. Other important sectors on this list are retail commerce, including electronics, and then fashion.