< Previous100 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 Aloki Batra is the visionary CEO of FIVE Hospitality and The Pacha Group, driving their phenomenal global success. Since 2017, Batra has spearheaded FIVE Hospitality’s explosive growth, identified key investments, led sales and marketing, and product development including creating FIVE’s unique investor model, where buyers purchase hotel rooms and lease them back to the operator. Under his leadership, FIVE has welcomed over 7.6 million guests from 179 countr ies across its diver se por tfolio, including three UAE hotels – FIVE Palm Jumeirah, FIVE Jumeirah Village, FIVE LUXE – along with FIVE Zur ich in Switzerland, Destino Hotel Pacha Ibiza and El Hotel Pacha in Spain, Pacha Ibiza nightclub, FIVE MODE and The Pacha Collection Fashion Lines; and a range of assets including Toy Room Clubs, and WooMoon Storytellers (Globally). The Group also encompasses FIVE Music, a joint venture with The Warner Group and the launch of FIVE Music Studio at The Penthouse Dubai. FIVE’s Dubai, Zurich and Ibiza hotel properties stood out with an average Occupancy Rate of 86 percent with an ADR of $318, and a TrevPAR of $536.07 for LTM ended 31st March 2024. From LTM ended 31st December 2019 to LTM ended 31st March 2024, total revenue grew by 349 percent from $123m in 2019 to proforma* revenue of $552m. Digital innovation is a cornerstone of FIVE's success, with 50 percent of bookings coming through Brand / Direct channels (Website, Reservation office and Walk-ins), leading FIVE Jumeirah Village to be the most reviewed hotel on Booking.com with 39,700 reviews and an impressive 9.1/10 rating. Similarly, FIVE Palm Jumeirah boasts a stellar rating of 9.2/10 and FIVE LUXE at 9.3/10 on Booking.com. Fun-dining powerhouse Batra is the visionary behind successful home-grown concepts, including Dubai’s iconic rooftop venue, The Penthouse voted DJ Mag’s #1 Nightclub in the Middle East 2023 and 2024. He also created Cinque, recognised by the Michelin Dubai Guide 2024, Gambero Rosso 2023, and Gault&Millau 2023 and 2024; Maiden Shanghai, an MSG-free gourmet Chinese experience awarded by What’s On Dubai Nightlife Awards 2022, Fact Dining Awards 2022, and BBC Good Food Middle East Awards 2022; the immersive street-food destination, Soul St.; and Trattoria by Cinque. Going global Following the opening of FIVE Zurich in 2022, FIVE acquired the legendary Spanish nightlife brand, The Pacha Group in a deal valued at €302.5m ($336.4m) in October 2023, with Batra as CEO. This acquisition includes a range of assets from the Pacha Nightclub, Destino Pacha Hotel, El Hotel Pacha, Toy Room Clubs, The Pacha Collection, and WooMoon Storytellers, expanding FIVE’s global footprint in hospitality and entertainment. Awards and recognitions Batra is recognised as CEO of the Year – Hospitality 2023 by CEO Middle East, ranks 44th in the Arabian Business Dubai 100 List for 2024, and sits amongst Arabian Business Indian Aces 50 Powerful Indians in the Middle East in 2023 and 2024. *Proforma figures include the effect of acquisition of Universo Pacha S.A as if the business combination was effective for LTM ended 31st March 2024. Aloki Batra CEO FIVE Hospitality and The Pacha Group Hospitality 57 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 100ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 10028/08/2024 12:3328/08/2024 12:33arabianbusiness.com 101 100 Inspiring Leaders 2024 Ramy Jallad serves as the Group CEO of Ras Al Khaimah Economic Zone (RAKEZ), one of the largest economic zones in the Middle East. With over 30 years of experience in foreign direct invest- ment (FDI) attraction, business and industrial park devel- opment, award-winning customer experience, mergers and acquisitions, and end-to-end digital transformation, he has played a role in shaping the UAE’s economic landscape across diverse sectors. Since joining RAKEZ, Jallad has been instrumental in driving the free zone’s growth, expanding its portfolio from 7,500 to nearly 25,000 companies. He is celebrated for his expertise in building economic zones from the ground up, crafting innovative business environments, and fostering ecosystems that transform companies into multi-mil- lion-dollar success stories. Under his leadership, a team of 460 multicultural professionals, each an expert in their field, works cohesively to achieve shared goals. Jallad has held executive roles across a spectrum of industries, including mixed-use real estate development and construction, aviation and aerotropolis hubs, oil and gas, and economic zone development and opera- tions. His experience spans leading organisa- tions like Abu Dhabi Airports, Dubai Hold- ing, TECOM Investments, Shell, and Caltex. As a globally recognised keynote speaker and industr y exper t, Jallad is known for his emphasis on innovation and his ability to simplify complex business challenges. Expanding horizons RAKEZ stands as a leading business and industrial powerhouse, strategically posi- tioned in Ras Al Khaimah. It offers a wide range of customisable solutions to global investors, currently housing almost 25,000 companies from more than 100 countries, covering over 50 industries. This makes it one of the largest economic zones in the region. RAKEZ provides both free zone and non-free zone entity formations, offering clients seamless access to rapidly grow- ing markets in the Middle East, North Africa, Europe, and South and Central Asia, thanks to the emirate's major logis- tical hubs. The economic zone is highly customer-centric, providing cost-effective, efficient services with simplified business setup processes, fast-track visa and license issuance, and top-tier services through one-stop shops. RAKEZ also offers a variety of facility options, including shared workstations, offices, warehouses, and land for development across its specialised zones. RAKEZ is committed to nurturing investors worldwide within its supportive ecosystem, where businesses can collaborate and thrive. Ramy Jallad Group CEO Ras Al Khaimah Economic Zone (RAKEZ) Industry 58 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 101ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 10128/08/2024 12:3328/08/2024 12:33102 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 59 Widely recognised as a trailblazer in the advancement of modern aviation, Adel Abdullah Ali has contributed to the air transport and tourism sector in the broader Arab world, particularly for his role in establishing Air Arabia, the first low-cost carrier in the MENA region, in October 2003. This opened an unexpected market niche in the region, soon transforming it into a thriving sector. As the visionary behind Air Arabia, Ali has steered it to become the largest low-cost carrier in the MENA region. It also became the first publicly owned airline in the Arab world, holding the title of the region’s largest by market value. Leveraging his extensive 28 years of experience with industry giants such as Gulf Air and British Airways, Ali guided Air Arabia to establish itself as one of the world’s best-run low-cost carriers, consistently achieving profitability. Ali’s leadership has strengthened Air Arabia’s business model, facilitating the expansion of operations, entry into new ventures, and diversification into additional revenue streams. Presently, the group boasts a successful portfolio of businesses and projects, offering travel, tourism, and hospitality services globally. Rising numbers In 2024, despite rising costs and slower yield growth due to various economic and geopolitical factors, Air Arabia reported a turnover of AED3.19bn ($8.6bn) in the first half of the year, marking a 13 percent increase year-on-year. From January to June, more than 8.9 million passengers travelled with the airline across its hubs, representing a 16 percent growth compared to the same period in 2023. At the same time, Air Arabia added three new aircraft to its fleet, bringing its total to 77 owned and leased Airbus A320 and A321 aircraft. It also expanded its network by launching 16 new routes across its operating hubs in the UAE, Morocco, Egypt, and Pakistan. Additionally, the airline has demonstrated a keen commitment to environmental sustainability, implementing a circular economy approach for all in-flight service items, which are biodegradable. All food and beverage packaging and containers are also now 100 percent recyclable. Alongside leading this consistent upward trajectory at Air Arabia, Ali assumes the distinguished role of chairman at various entities, including Sharjah Information Systems Associates, Alpha Sharjah Catering, Alpha Aviation Academy, and Cozmo Travel. Moreover, he brings his expertise to the board of Sharjah Aviation Services, where his strategic insights contribute to the growth and development of the aviation sector. Furthermore, Ali occupies board positions within Air Arabia subsidiaries, showcasing his commitment to diverse aviation ventures. He lends his guidance and leadership acumen to Air Arabia (Maroc) stationed at Casablanca’s Mohamed V International Airport, and also plays an instrumental role at Air Arabia (Egypt) located at Alexandria’s Burj Al Arab International Airport, ensuring operational excellence and driving strategic initiatives to enhance the aviation landscape. These varied roles underscore Ali’s multifaceted contributions to the aviation and travel industry, positioning him as a key figure in shaping the future trajectory of these esteemed organisations. Adel Abdullah Ali Group CEO Air Arabia Aviation ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 102ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 10228/08/2024 12:3328/08/2024 12:33arabianbusiness.com 103 100 Inspiring Leaders 2024 For the past five years, Yousef Al Obaidly has been making strides in the Middle East’s broadcasting landscape as the Group CEO of beIN MEDIA GROUP, a leading regional independent sports, entertainment and media group that operates in 43 coun- tries and has the world’s largest portfolio of sports rights. In this role, Al Obaidly heads beIN MENA, beIN SPORTS France, Americas and Asia-Pacific, as well as beIN’s Holly- wood movie studio, MIRAMAX, and the group’s new OTT MENA-based streaming platform, TOD. This platform, which launched in 2022, was the official streaming partner of the FIFA World Cup Qatar 2022 and an integral part of beIN’s vision and strategy for a digital future. Under Al Obaidly’s guidance, the group has transformed into a global entertainment powerhouse. In 2019, the group sold a minority 49 percent stake in MIRAMAX to Viacom- CBS for $375m. In July 2024, beIN SPORTS reported it set a new record for cumulative viewership of more than 1.2 billion of its multilingual coverage of the month-long EURO 2024, a 27 percent rise on the EURO 2020 tournament. Earlier this year, it also secured exclusive rights to the FIA Formula One World Championship in 25 countries across the MENA region and Turkey from the start of the 2024 season until the end of the 2033 season. This collaboration will also include Doha becoming a dedicated regional content production hub, which will harness beIN’s world-leading production capabilities. Promoting the media industry Al Obaidly, a Seattle University graduate, has spent the past two decades driving the sports and creative industries forward in the region. He played an instrumental role in the launch of Al Jazeera Sport, which later transformed into beIN Sports, kicking off the interna- tional expansions of the network by introduc- ing new sports channels in France, the US, Canada and dozens of countries across the Asia-Pacific. Concurrent to his significant responsibilities at beIN MEDIA GROUP, Al Obaidly is also CEO of Digiturk, the largest PayTV operator in Turkey, founded in 1999, with a mix of sports and entertainment content via 200-plus chan- nels serving millions of Turkish subscribers across 160 coun- tries. Al Obaidly further contributes to the media, sports and technology sectors by serving as an esteemed board member for beIN MEDIA GROUP, but also as a member of several other boards, including MIRAMAX, Paris Saint-Germain Football Club, Premier Padel, Qatar Tennis Federation, Qatar Sports Investments, and Ooredoo Group. His dedication to the media industry also extends to the protection of intellectual property, a subject he is publicly passionate about, as he believes it ensures the creative indus- tries will remain a thriving source of entertainment across the world. Moreover, his admiration of the world of sports does not only stem from Al Obaidly’s illustrious career in broadcast media, as he is also a former professional tennis player, having participated in the David Cup, among other major global tournaments. Yousef Al Obaidly Group CEO beIN MEDIA GROUP Media 60 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 103ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 10328/08/2024 12:3328/08/2024 12:33104 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 Michel Ayat’s jour ney in the automotive industry has been an inspiring one marked by creative leadership and an unparalleled commitment to excellence, from pioneering automotive strategies to shaping industry standards. For almost 35 years at AW Rostamani Automotive Group, 17 of which as CEO, Ayat has played an instrumental role in managing some of the world’s most celebrated automotive brands across Nissan, INFINITI, and Renault as part of Arabian Automobiles Company (AAC). He also leads AWR Trading Company, the official distributor of world premium brands in allied businesses such as TOTAL Lubricants, AMARON Batteries, CEAT Tires, FORTRON Automotive Treatments, and X-Cool Heat Control Films. Additionally, he oversees AWR Mobility, which offers inno- vative and quality mobility options for UAE consumers, with renowned Shift Car Rental standing as the most established entity of AWR Mobility, boasting a fleet of over 11,000 vehicles. Recently, under his guidance, AWR also acquired exclusive distributor rights to Chery, Zeekr, and Smart. Industry leader AWR Automotive Group has emerged as a leading automotive and mobility company in the region, with over 50 facilities inclusive of all brands and business units, spanning showrooms, pre-owned showrooms, service centres, and spare parts outlets across the UAE. Ayat’s strategic prowess led him to introduce the Balanced Scorecard (BSC) concept that revolutionised strategic planning and performance measurement. This inno- vative approach led AAC to be the first privately owned UAE company honoured with the Palladium Balanced Scorecard Hall of Fame Award for Strategy Execution. Ayat’s leadership also propelled the company to prestigious awards such as the Mohammed Bin Rashid Al Maktoum Business Award and the Dubai Quality Gold Award, underscoring its unwavering commitment to excellence. In 2023, AAC received Nissan’s Global Aftersales award for a record 23rd time since the award’s inception in 1981. Ayat’s leadership has positioned the company as an industry benchmark for excellence, evident in its ISO accreditation and unwavering commitment to quality management systems. In June 2024, AAC notably began development of a parts distribution centre that aims to serve as a hub for industry innovation and excellence at Dubai Industrial City. The state- of-the-art centre, which is scheduled to be completed in 2025, will have a built-up area spanning over 32,500 sq m and will house 150 employees who will work to enhance safety, produc- tivity, and commercial efficiencies. Beyond AWR, since 2019 Ayat has also been the Chairman of the Dubai Car Dealers Business Group (DCDBG), which was established under the umbrella of the Dubai Chamber of Commerce and aims to unite the voices of automotive distrib- utors and foster public-private sector dialogue on important matters impacting the automotive sector in Dubai. Beyond the UAE, Ayat’s achievements within the automo- tive sector are just as exemplary, expanding AWR’s operations into potential emerging markets with the acquisition of a Honda dealership in Delhi and Westway Nissan & Brayleys in the UK, representing leading automotive brands such as Honda, Kia, Mazda, Renault and Dacia. 61 Michel Ayat CEO AW Rostamani Automotive Group Mobility ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 104ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 10428/08/2024 12:3328/08/2024 12:33arabianbusiness.com 105 100 Inspiring Leaders 2024 The name Sunny Varkey does not only foster admi- ration across the Middle East, but the entire world. An entrepreneur and philanthropist, Varkey is a passionate educationalist who has devoted his entire adult life to raising the standard of education around the globe. He passionately believes in its power to reduce poverty, prejudice, and conflict, and so he founded GEMS Education after taking over the running of a single school, which had been established by his teacher parents after their move to Dubai in 1959 from their native India. Today, GEMS educates more than 170,000 students from 176 countries, with 420,000 alumni, and it is now the world’s largest operator of K-12 schools, globally renowned for its blend of high educational standards, solid core values, innovation, excellence, and choice at all fee points. Varkey and the GEMS organisation is driven by a core belief that every child has genius within, and it is the duty of all schools to find that unique talent. Its international footprint extends to 49 schools across the UAE, Qatar and Egypt. It also expanded this year with the opening of two new schools in the UAE, in Dubai South and Masdar City in Abu Dhabi. Guided by his passionate conviction that every child has a birthright to a quality education, Varkey founded the Varkey Foundation in 2011 with several initiatives underlining the key role that teachers play in our society around the world. This includes the $1m Global Teacher Prize, launched in 2015. Varkey also signed the Giving Pledge, an initiative founded by Bill and Melinda French Gates and Warren Buffett, where he committed to donate more than half of his wealth to charity to help support teachers across the world. Further- more, he has forged key partnerships with the World Economic Forum, Microsoft, Unesco, and The Clinton Global Initiative to further his agenda of finding solutions to world education issues. Unparalleled contribution to education Among his many accolades, Varkey has been honoured by the Government of India for his contributions to education with the Padma Shri Award and Rajiv Ghandi Award, two of the country’s highest civilian honours. In 2011, the UAE Ministry of Education conferred an award of distinction for Varkey’s service to education. The following year, he was named a UNESCO Goodwill Ambassador for Education Partnerships and in 2016 he was appointed a member of Harvard University’s Global Advisory Council. While Varkey remains integral to GEMS Education, his son Dino now leads the daily operations of the company as Group CEO. In July, Dubai Islamic Bank led a $3.25bn financing facility for GEMS. The deal, described as the larg- est leveraged buy-out transaction in the region, was under- written by a consortium of UAE banks. The sustainabili- ty-linked facility, along with investment from a group led by Brookfield Asset Management, has enabled GEMS to refinance its existing debt and facilitate the exit of minority shareholders, allowing the education provider to propel towards sustainable growth. Sunny Varkey Founder and Chairman GEMS Education Education 62 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 105ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 10528/08/2024 12:3328/08/2024 12:33106 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 As the first female CEO of a UAE-based bank, Hana Al Rostamani is widely recognised for her role as a change leader. At First Abu Dhabi Bank (FAB), the largest bank in the UAE with over $320bn in total assets, where she’s led the charge since 2021, she focuses on embedding a culture driven by innovation, diversity, and inclusion. Under her leadership, FAB announced its record performance with a first half 2024 net profit at $2.28bn, the highest ever achieved by the group in a half-year period, marking a 16 percent year-on-year growth and the bank’s consistent upward trajectory. Its results were driven by double-digit growth across interest and non-interest income sources, helped by strong business momentum, expansion in net interest margin, and an improved revenue mix. In March 2024, the bank announced a significant partnership with MasterCard, heralding an exclusive long-term global collaboration that extends their longstanding relationship in the EEMEA region. The transformative agreement, covering key markets such as the UAE, KSA, Oman, and Egypt, will unite these industry frontrunners to drive advancements in the digital payments landscape across the region. To date, Al Rostamani has accumulated over 25 years of experience in banking and financial services and previously held the role of deputy group chief executive officer and group head of Personal Banking at FAB. In this capacity, she spearheaded the transformation of FAB’s consumer bank, instilling a customer and digital-first mindset. Sustainability plans Sustainability is another top priority for Al Rostamani. With her guidance, FAB is strategically advancing towards sustainable growth and prosperity. A significant milestone was marked in 2023 during COP28 in Dubai, when FAB unveiled plans to offer over $135bn in sustainable and transition financing by 2030. This pledge underscores Al Rostamani’s unwavering commitment to responsible and ethical banking practices. Additionally, Al Rostamani currently chairs the Global Council on the Sustainable Development Goals, with a specific focus on development goal 7, ‘Affordable and Clean Energy.’ Before joining FAB, she spent years shifting the face of the male-dominated financial landscape through various roles in both domestic and international contexts at First Gulf Bank, Citibank, and AW Rostamani Group. Today, she also serves as a board member of several entities, including Buna, a cross- border payment system by the Arab Monetary Fund aimed at strengthening investment ties among Arab economies, as well as the Institute of International Finance (IIF), the supervisory board of the International Institute for Management Development (IMD), and the executive board of the US-UAE Business Council. She has also served as an independent director in Emirates Integrated Telecommunication Company (du) and was vice chairperson of the Emirates Institute for Banking and Financial Services. She is currently a member of MasterCard Advisory. Al Rostamani is a graduate of George Washington University in the US, where she earned a Bachelor of Science in Business Administration and a Master of Science in Informational Management. Hana Al Rostamani Group CEO First Abu Dhabi Bank (FAB) Banking 63 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 106ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 10628/08/2024 12:3428/08/2024 12:34arabianbusiness.com 107 100 Inspiring Leaders 2024 Maaz Sheikh is one of the masterminds behind StarzPlay, which is ranked consistently among the region’s top three subscription video on demand services. It has an extensive variety of premium content covering Hollywood movies, TV shows, documentaries and same-time-as-the-US series – plus live sports, dedicated kids’ entertainment and Arabic content – to 19 countries across MENA and Pakistan. Earlier this year, at the Arabian Business Leadership Summit 2024, Sheikh revealed StarzPlay is currently ranked number 2 in the MENA region as an OTT platform with an 18 percent market share as of 2023. Popular platform Sheikh co-founded StarzPlay in 2015, driven by a passion for emerging technologies and offering the best possible user experience to viewers. Today, as CEO and with more than 25 years of experience in the media and technology sector behind him, he is responsible for leading the platform along its upward trajectory, which has seen it reach more than 2.9 million subscribers, showing steady year-on-year growth, with the backing of investors like Lionsgate, GE, and the Abu Dhabi Investment Office. StarzPlay’s strategic pillars include: Localisation and building content for the MENA audience; partnerships and creating win-win distribution and content deals with companies like Ooredoo, STC, UFC, Disney, and ICC; and agility, adapting the model to cater to evolving content and audience preferences across Western, Arabic, anime, and sports genres. It has thousands of prime titles including exclusive StarzPlay Arabia original content such as Kaboos, Say Yes to the Dress Arabia, Baghdad Central, STARZ Original content such as Power, Outlander, Spartacus, and The White Queen, as well as a range of content with add-ons such as AD Sports, Premier Sports (Rugby), NBA League Pass, and STARZPLAY Sports, the dedicated sports package covering football (Italian Serie A and Dutch Eredivisie leagues), wrestling (All Elite Wrestling), cricket, UFC Arabia, boxing, basketball and more. StarzPlay Arabia has also secured tie-ups with a host of leading global studios, including Lionsgate, MGM, Warner Bros, Universal, Discovery, and Sony Studios, along with regional producers such as UMS, Eagle Films, and Falcon. The platform allows subscribers to watch its full HD and 4K content via most internet-enabled devices, smart TVs, and game consoles, and is widely available on regional IPTV services. Its iOS and Android apps – installed on over three million devices – also allow downloads for offline playback. In early 2021, STARZPLAY Arabia secured its first independent financing in the region of $25m (AED 92m) from Abu Dhabi-based Ruya Partners. In 2022, E-Vision, from e& and ADQ, an Abu Dhabi-based investment and holding company, acquired a majority equity stake of circa 57 percent in the company at a valuation of $420m. This is a significant achievement for the platform which is now fully capitalised to independently grow the business further. Establishing its headquarters in Abu Dhabi with ADIO’s support has also enabled StarzPlay to further strengthen the production of regionally relevant original content for its subscribers. Maaz Sheikh CEO and Co-founder Starzplay Media and Entertainment 64 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 107ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 10728/08/2024 12:3428/08/2024 12:34108 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 Mohammad Ali Rashed Lootah has many impressive achievements to his name, not least of which being appointed to his current role in Dubai Chambers in October 2022. In this capacity , he super vises the implementation of strategic initiatives aimed at enhancing the ease of doing business in Dubai, supporting global business expansion, attracting foreign investment, and advancing the digital economy. The decision aligned with the Chambers’ commitment to fulfilling the leadership’s vision to advance Dubai’s global economic status, and its dedication to enlisting competent and experienced leaders to maintain the emirate’s momentum towards further accomplishments. Dubai Chambers is a non-profit public entity dedicated to advancing Dubai’s global standing by empowering busi- nesses, offering innovative value-added services, and facil- itating access to influential networks. In March 2021, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the reorganisation of Dubai Chamber. This restructuring resulted in the formation of three chambers for the emirate: the Dubai Chamber of Commerce, the Dubai International Chamber, and the Dubai Chamber of Digital Economy. These entities now operate collectively under the umbrella of Dubai Chambers, which is leading the charge for innova- tion among chambers globally through its Chamber Model Innovation (CMI) framework, a pioneering imitative for which it received recognition from the International Chamber of Commerce (ICC) in April 2024. This framework, intro- duced at the World Chambers Conference in Dubai in 2021, aims to accelerate innovation within chambers worldwide. The CMI framework, devised and launched by Dubai Cham- bers, offers a systematic approach to enhancing the effective- ness of the Chambers of Commerce in response to evolving business landscapes and global challenges. Since its inception, Dubai Chambers has conducted 17 training courses on the CMI framework, benefiting over 1,500 employees and offi- cials from 638 chambers worldwide. Huge responsibilities Through his current and former roles, Lootah has been shaping Dubai’s economic landscape for years. He has also successfully led the transformation of several government services to smart services. Previously, he held the position of CEO at the Commercial Compliance & Consumer Protection for Dubai’s Department of Economy and Tour- ism. In this role, he oversaw consumer protection, business protection, intellectual property protection, and commercial compliance. He has also held various leadership roles at the Department of Economic Development, including deputy CEO of the Commercial Compliance & Consumer Protec- tion Sector, deputy CEO of the Dubai Export Development Corporation, executive director of Corporate Quality and Excellence, and deputy director of the Information Tech- nology Department at Dubai Land Department. During this time, Lootah has become a future-focused leader and keen strategist, with proven strengths in commu- nication and negotiation honed during his many years in governance. He has demonstrated experience in many key areas, including public policy, international trade, business development, corporate quality and business re-engineering, organisational excellence, operations, and franchising. Lootah earned a Bachelor’s Degree in Computer Systems Engineering from Arizona State University in the US and an executive MBA in Strategic Management from the Higher Colleges of Technology in Dubai. 65 Mohammad Ali Rashed Lootah President and CEO Dubai Chambers Business and Industry ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 108ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 10828/08/2024 12:3428/08/2024 12:34arabianbusiness.com 109 100 Inspiring Leaders 2024 CEO RAK Properties Real estate Sameh Muhtadi is at the helm of one of the UAE’s most ambitious publicly listed property developers. A real estate industry veteran with a proven track record, he has been leading RAK Properties since 2022, formu- lating and achieving its strategy. His tenure has been marked by strategic brilliance fostering growth and greatly helping Ras Al Khaimah’s positioning as a leading tourism and investment destination. His visionary approach has propelled RAK Properties to new heights. His focus on cultivating a culture of excellence and innovation underpins the company’s growth, not just in size but in setting new standards within the real estate sector. Muhtadi’s strategic acumen has played a major role in maintaining a formidable liquidity position, enabling transformative acquisitions, and spearheading a series of project launches. Partners in progress Founded in accordance with the vision of Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, RAK Properties is committed to advancing economic growth and community development initiatives in the emirate of Ras Al Khaimah. The company seeks to enhance shareholder value through development projects in both coastal and inland areas of Ras Al Khaimah. Embracing the company’s ethos that “people make the place”, Muhtadi has substantially augmented the RAK Properties team, currently boasting a robust 200-plus workforce. In 2024, the company has showcased sustained financial growth and strategic progress. It recorded a revenue of $166 million in H1, a 19 percent year-on-year increase driven by strong demand for its diverse prop- erty portfolio and the ongoing success of its flagship developments in Mina Al Arab. The inauguration of the Anantara Mina Al Arab resort and Spa earlier this year, coupled with high-profile collaborations with esteemed global brands such as Ellington Properties and Nikki Beach, also exemplify the company’s ambitious trajectory. Muhtadi still has a robust agenda set for the year, aiming to launch seven major projects following the successful introduction of several last year. Furthermore, Ras Al Khaimah has seen increasing international demand, which, for RAK Properties, has translated to investors from 42 nationalities. Renowned in the industry for his strong corpo- rate governance, market expertise, and for building commu- nities, Muhtadi brings with him extensive international prime real estate and operational experience from Asia, the Middle East, and the US. Backed by more than 30 years of experience in real estate development and investment, construction management, project management, financial regulations, and planning, he has previously held leadership positions at Arabtec Construc- tion, The Morgan Stanley-Orascom Infrastructure Fund, Emaar Properties-Misr and Orascom-Contrack. Muhtadi’s leadership has not only achieved impressive financial milestones but has also reshaped the landscape of Ras Al Khaimah with developments that blend with nature. His dedication to both the community and the environment, combined with his strategic partnerships as well as rebrand- ing initiatives, positions him as a trailblazer, leading RAK Properties into a bright future that will significantly contrib- ute to Ras Al Khaimah’s vision for 2030, ensuring its status as a premier destination for both investors and tourists. Sameh Muhtadi 66 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 109ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 10928/08/2024 12:3428/08/2024 12:34Next >