#24/04 • April 2023 UAE: AED 15 KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 Inclusive of VAT CREATIVE TOXICITY Abdallah Abu-Sheikh, CEO and co-founder of Astra Tech, on why putting workers under pressure is the key to successarabianbusiness.com 3 Contents April 2023 www.arabianbusiness.com SUBSCRIBE NOW +971 4444 3000 www.itp.com/subscription arabianbusiness#arabianbusinessarabianbusiness COVER STORY Technology Abdallah Abu-Sheikh, founder of tech ecosystem Astra Tech, reveals the secrets behind building a billion-dollar empire EVENTS The $7m horse auction at Dubai World Cup The sale took place in the presence of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai WOMEN’S EXCELLENCE AWARDS KSA Women Excellence Awards winners revealed More than 150 attendees gathered to celebrate the inspirational winners of the Arabian Business KSA Women Excellence Awards in Riyadh 18 FIRST WORD As the tourism industry continues to grow, it’s essential that we work towards a more sustainable future 14 Matthew Amlot Managing Editor matthew.amlot@itp.com o hat more 224 Vol. 24/04, April 2023 FIVE THINGS TO KNOW ABOUT... SUSTAINABILITY Moving towards net zero Embracing sustainability represents both risks and opportunities for the tourism and hospitality sector UPFRONT Middle East leads charge in return to $1.4tn business travel market Business travel in the region is recovering faster than any other areas of the world, according to experts GENDER EQUALITY Why we can’t afford to ignore gender equity anymore Employees and employers will both benefit from increased diversity 10 3238 50 Contents April 2023 The advantages of starting a restaurant business in Dubai Ramy Hachem, founder of multi-dimensional business solution provider RAYVEN, on why the f&b industry in the emirate is set for another year of growthLeadership Summit 2023 Wednesday, 21 st June 2023 Dubai, United Arab Emirates An ITP Media Group event Learning from legends For commercial and event enquiries: Saraswati Agarwal GROUP COMMERCIAL DIRECTOR Tel: +971 4 444 3352 GSM: +971 52 895 2214 E-mail: saraswati.agarwal@itp.com Daniel Fewtrell DIRECTOR OF AWARDS & MARKETING Tel: 971 4 444 3684 E-mail: daniel.fewtrell@itp.com SCAN TO VISIT THE WEBSITE6 Vol. 24/04, April 2023 SUBSCRIBE NOW www.itp.com/subscriptions +971 4 4443000 ȨǔǜȨǚǘ VIEWS #24/02 • February 2023 UAE: AED 15 KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 Inclusive of VAT The unstoppable mind and machine behind a billion-dollar global restaurant empire ȨǔȱǠǗǙǣǖȨ interviews Dynasty From luxury to real estate: Inside the world of Abbas Sajwani KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 Inclusive of VAT #24/01 • January 2023 INDEPTH NEWS #24/03 • March 2023 THE AMY ROKO PHENOMENON KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 Inclusive of VAT PUBLISHED BY AND © 2023 ITP MEDIA GROUP FZ-LLC. 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PO Box 500024, Dubai, UAE Tel: +971 4 444 3000 Offices in KSA, UAE, UK, US, and INDIA ITP MEDIA GROUP CEOAli Akawi MANAGING DIRECTOR Alex Reeve DEPUTY MANAGING DIRECTORAnil Bhoyrul EDITORIAL EDITOR-IN-CHIEFRob Corder, rob.corder@itp.com MANAGING EDITOR Matthew Amlot, + 971 4 444 3264, matthew.amlot@itp.com SUB EDITOR Edward Liamzon, +971 4 444 3474, edward.liamzon@itp.com ARABIANBUSINESS.COM INDIA EDITOR James Mathew DESIGN SENIOR DESIGN MANAGER Geri Batara Sonny DESIGNER Mohammed Irqsosy STUDIO VIDEOGRAPHER Muhammad Kaleem PHOTOGRAPHER Marwan Elsayed VIDEO EDITOR Liju Cheruvathur PRODUCTION & DISTRIBUTION PRODUCTION MANAGER Denny Kollannoor PRODUCTION COORDINATOR Mahendra Pawar SENIOR IMAGE EDITOR Emmalyn Robles EVENTS & MARKETING DIRECTOR OF AWARDS & MARKETING Daniel Fewtrell, +971 4 444 3684, daniel fewtrell@itp.com CIRCULATION DISTRIBUTION COORDINATOR Avinash Pereira CIRCULATION EXECUTIVE Rajesh Pillai ADVERTISING GROUP COMMERCIAL DIRECTORSaraswati Agarwal, +971 4 444 3352, saraswati.agarwal@itp.com SENIOR COMMERCIAL MANAGERNeha Sikri, +971 4 444 3353, neha.sikri@itp.com SENIOR COMMERCIAL MANAGERSamir Glor, +971 4 444 3320, Samir.Glor@itp.com ITP GROUP CEO Ali Akawi CFO Toby Jay Spencer-Davies CORPORATE WEBSITEitp.com CIRCULATION CUSTOMER SERVICE +971 4 444 3000 WEB arabianbusiness.comwww.wtm.com/atm/itp Part of:Destination Partner: Official Partners: DUBAI Mon 1 - Thu 4 May 2023 Working Towards Net Zero #ATMDubaiFIRST WORD | Matthew Amlôt, Managing Editor 8 Vol. 24/04, April 2023 H ello and welcome to the April issue of Arabian Business. As we move into the second quarter of 2023, we are proud to bring you an issue that highlights some of the most inspiring and thought-provoking leaders in the Middle East. Speaking of thought-provoking, this month our cover story features Abdallah Abu-Sheikh, a tech entrepreneur who has taken an unconventional approach to leadership. In our interview with him, he discusses his belief in the power of creative toxicity and the importance of putting employees under heavy pressure. It’s a fascinating read, and one that is sure to challenge your preconceived notions of what it means to be a successful leader. The full story is well worth a read and begins on page 18. As we continue to explore the latest trends and issues in the Middle East, we are excited to bring you two impor- tant topics that are increasingly relevant in today’s world: the importance of net zero to hotels and the move towards a circular economy. In our feature on net zero, we take a closer look at the hotel industry and its role in reducing carbon emissions. We discuss the challenges that hotels face in achieving net zero, and highlight some of the innovative solutions that are being implemented across the region. As the tourism industry continues to grow, it’s essential that we work towards a more sustainable future, and we hope that this article inspires hotels to take action. Turn to page 32 for the full story. In addition, we feature an article on the circular econ- omy, which is gaining momentum as a way to reduce waste and promote sustainable practices. We explore how busi- nesses in the Middle East are embracing the circular econ- omy model, and the benefi ts it can bring to both the envi- ronment and the economy. From reducing waste to promoting innovation, we believe that the circular econ- omy has the potential to transform the way we do business in the region. We’re also thrilled to feature highlights from the Arabian Business KSA Women’s Excellence Awards, beginning on page 22, which celebrate the achievements of women who are leading the future in the kingdom. These women are breaking barriers, challenging norms, and paving the way for a more inclusive and equitable society. And fi nally, we present our list of 50 inspiring women leaders. These are women who are making a diff erence in their industries, their communities, and the world at large. They are role models for all of us, and we are proud to share their stories with you. With that I’ll let you get to reading. Until next time. Breaking barriers, challenging norms MATTHEW AMLÔT @MatthewAmlot Women in the Middle East continues to achieve and inspire a new generationNext >