The Middle East is a hub for entrepreneurs and business minds, particularly for Indians due to its shared cultural heritage and strong trade links. Indian immigrants have established a significant niche in the business landscape, playing a crucial role in defining businesses and driving growth across various sectors.
The Indian diaspora has emerged as a substantial economic force in the region, showcasing its visionary entrepreneurs and smart business tycoons. Start Any Business (SAB), your one-stop consultancy for Business Setup in Dubai explores the inspiring stories of the Top 10 Richest Indians in the Middle East. Their journeys are a testament to the power of vision, hard work, and the dynamic business environment of the region.
List of Top 10 Richest Indians in Middle East
Let’s explore the journeys of the Middle East’s Top 10 Richest Indians, taking inspiration from their accomplishments and learning lessons you can use to setting up a company in Dubai.
1. M.A Yusuff Ali (Lulu Group)
- Business Category- Hypermarkets and Retail
- Company Name- LuLu Group International
- Net Worth- $ 6.9 Billion
- Designation: Chairman & Managing Director
M.A Yusuffali, Lulu Group International’s chairman and managing director, leads the group of people. Yusuffali’s narrative is typical from being poor to being rich. He started with a tiny grocery shop in Abu Dhabi in the 1970s and has since expanded Lulu into a retail giant with operations across the Middle East, North Africa, and Asia.
2. Renuka Jagtiani (Landmark Group)
- Business Category– Electronics, Furniture, Fashion
- Company Name- Landmark Group
- Net Worth- $4.8Billion
- Designation:Chairwoman and CEO
Following closely behind is Renuka Jagtiani, the powerhouse chairwoman of Landmark Group. Renuka Jagtiani ranked on 2nd number in the list of top 10 richest Indians. Landmark, another retail giant, boasts popular brands like Centrepoint, Babyshop, and Splash. Jagtiani, along with her late husband Micky Jagtiani, built the company from a single store in Bahrain into a multinational conglomerate.
3. Sunny Varkey (GEMS Education)
- Business Category– Education
- Company Name- Umbrella Business Organisation
- Net Worth- $3.50 Billion
- Designation: Founder and Executive Chairman
The education sector finds representation with Sunny Varkey, the founder of GEMS Education. Today, GEMS is the world’s largest operator of private K-12 schools. Varkey’s vision to create high-quality, affordable education for all is a shining example of social impact alongside business success.
4. Ravi Pillai (RP Group)
- Business Category– Construction, Healthcare
- Company Name- RP Group
- Net Worth- $3.1 Billion
- Designation: Founder and Chairman
Ravi Pilla, the chairman of RP Group, is another prominent figure. RP Group is a diversified conglomerate with interests in construction, healthcare, hospitality, and education. The success of Pillai serves as an illustration of the value of diversity and calculated growth in a competitive sector.
5. Dr. Shamsheer Vayalil (Burjeel Holdings)
- Business Category– Hospitals, Clinics
- Company Name- Burjeel Holdings
- Net Worth- $3.3 Billion
- Designation: Founder
Healthcare finds its champion in Dr. Shamsheer Vayalil, the founder and chairman of Burjeel Holdings. Burjeel is a leading provider of healthcare services in the UAE, operating world-class hospitals and medical centers. Dr. Vayalil’s journey showcases the growing demand for quality healthcare in the region.
6. Joy Alukkas (Joyalukkas Group)
- Business Category– Jeweller
- Company Name- Joyalukkas Group
- Net Worth- $4.4 Billion
- Designation: Chief Managing Director
Diamonds might be forever, and so is the success of Joy Alukkas, the chairman of Joyalukkas Group. The company is a well-known jewelry shop having locations in the US, India, and the Middle East. The tale of Alukkas highlights how luxury products continue to be popular in the area.
7. PNC Menon (Sobha Developers)
- Business Category– Interior Decoration
- Company Name- Sobha Ltd & Sobha LLC
- Net Worth- $3.17 Billion
- Designation: Founder and Chairman
The real estate sector boasts PNC Menon, the founder of Sobha Developers. Sobha is known for its luxurious and sustainable residential and commercial projects. Menon’s focus on innovation and quality has positioned Sobha as a leader in the region’s ever-evolving real estate landscape.
8. Micky Jagtiani (Landmark Group)
- Business Category– Importers of Non-Food Iteams
- Company Name- Landmark Group
- Net Worth- $ 5.2 Billion
- Designation: Chairman and Owner
While no longer with us, Micky Jagtiani, alongside his wife Renuka Jagtiani, deserves recognition for co-founding Landmark Group. His entrepreneurial spirit and keen understanding of the Middle Eastern consumer played a pivotal role in the group’s phenomenal success.
9. Dr. Azad Moopen (Aster DM Healthcare)
- Business Category– Healthcare
- Company Name- Aster DM Healthcare Limited
- Net Worth- $ 5.9 Billion
- Designation: Chairman and Managing Director
Back to healthcare, Dr. Azad Moopen, the founder and chairman of Aster DM Healthcare, makes the list. Aster is a top supplier of integrated healthcare services, open company in Dubai in many growing fields like clinics, hospitals, and pharmacies. Dr. Moopen’s commitment to providing the community with inexpensive and easily accessible healthcare has had a major influence.
10. Rizwan Sajan (Danube Properties)
- Business Category– Building Materials, Interior
- Company Name- Danube Group
- Net Worth- $ 2.5 Billion
- Designation: Chairman and Owner
Rounding out the list is Rizwan Sajan, the founder of Danube Properties. Danube is a significant player in Dubai’s luxury real estate market, known for its iconic towers and opulent expansions. Sajan’s vision and ability to capitalize on Dubai’s growth trajectory have been instrumental in Danube’s success.
Wrapping Up
In the above article, we have discussed 10 individuals’ stories about the Middle East’s potential for success and progress, highlighting the ease of establishing a business in Dubai due to its abundance of opportunities and reducing restrictions. Entrepreneurs may draw inspiration from these experiences to open company in Dubai, and Start Any Business (SAB) consulting services can assist them get beyond obstacles in the way of starting a business and setting out on the path to success in the fast-paced Middle East.