Completing The 100 NRIs – 2026: Meet the Final Honorees
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This article forms part of The 100 NRIs, a special edition by Entrepreneur Middle East spotlighting the most influential non-resident Indians shaping business, innovation, and investment across the region.
AYOOSH NAKKRA
Chairman and Founder, ARC SHIP Group
AYOOSH NAKKRA is a highly experienced maritime professional with over 20 years of expertise in vessel operations, marine engineering, and technical management. His specialisms include oil and gas tankers, offshore support vessels, and LPG carriers. As the Founder and Chairman of ARC SHIP Group since 2018, he has played a key role in driving fleet optimisation, operational efficiency, and ensuring compliance with international maritime standards.
Prior to establishing ARC SHIP, Nakkra held positions as Fleet Technical Manager and Technical Superintendent, gaining extensive experience in dry-docking, charter readiness, and successfully managing ISM and ISPS audits. His career has included key roles in high-profile projects for organisations such as NPCC, ADNOC, and Technip, where he enhanced fleet performance and streamlined technical processes.
A seasoned maritime technical professional, he possesses a strong background in negotiation, account management, and engineering, with a proven track record of working across diverse operational environments. He sailed on tankers for over a decade as a Senior Engineer Incharge, further developing his practical knowledge of vessel systems and operations. He holds a Bachelor of Engineering (B.Eng.) in Mechanical Engineering from Pune University, India.
ARC SHIP Group epitomises excellence within the maritime industry, offering comprehensive marine solutions centred on ship safety management, innovative marine products manufacturing, and fleet management services. The company’s diverse portfolio includes oil and chemical tankers, offshore vessels, container ships, general cargo vessels, and plans for expansion into bulk carriers.
The company also ensures life-saving appliances and fire- fighting equipment meet IMO and SOLAS standards through inspection, testing, and certification. ARC SHIP’s regional footprint spans the UAE, Oman, and India, built on a strong local network complemented by a globally recognised service standard. In the UAE, it supports major ports including Dubai, Fujairah, and Ras Al Khaimah, providing 24/ 7 response teams and emergency call-out services.
JAYANT LAL GANWANI
Vice Chairman and Chief Executive Officer, Lal’s Group
JAYANT LAL GANWANI’S journey into the heart of Dubai’s business landscape is a compelling story of vision and growth. Leading a diversified UAE conglomerate, as the Vice Chairman & CEO of Lal’s Group, he oversees ventures spanning retail, real estate, logistics, and hospitality.
With a management degree from NYU’s Stern School of Business and completion of the Presidents’ Leadership Programme at Harvard Business School, Ganwani combines academic excellence with practical expertise. He joined the family business in 1986, progressing through key finance and operational roles before taking the helm.
Under his leadership, Lal’s Group has solidified its place as one of the UAE’s most prominent retail giants. The group operates hundreds of stores and franchise brands, including Daiso, Homes r Us, and Mom Store. It also owned and managed iconic malls like the former Lamcy Plaza and Arabian Centre. In real estate, Ganwani co-founded Signature Developers with Regal Group, delivering landmark projects such as 118 Downtown.
Founded in 1979, Lal’s Group has built a reputation for scaling international and regional brands across retail and lifestyle sectors. Operating across the UAE, KSA, Qatar, Bahrain, Kuwait, and Oman, it manages multiple outlets, including U.S. Polo Assn., Carter’s, and Daiso Japan. Beyond retail, the Group has diversified into healthcare, education, FMCG, and real estate, with projects like The Residences JLT and Signature Mansions. With a focus on innovation and customer value, Lal’s Group continues to drive long-term growth across the GCC.
In December 2025, Lal’s Group announced the topping out of Bliss Tower in Dubai Land Residence Complex (DLRC), marking a milestone for its flagship residential development, Pure Bliss. Developed in collaboration with GRID, Bliss Tower is part of Dubai’s 2040 Urban Master Plan, prioritising green spaces and sustainable living.
KARUNAKAR R. SHETTY
Founder, Chairman and Director, Peninsula Hospitality Group
FOUNDED in 1981 by the visionary Karunakar R. Shetty, Peninsula Hospitality Group has established itself as a leading entity within the hospitality industry, with a rich legacy spanning over four decades across the UAE and India. The company’s origins trace back to a modest restaurant venture in Mumbai in 1980, which has grown into a diverse portfolio of brands and properties through strategic expansion and unwavering commitment to excellence.
Shetty’s entrepreneurial acumen facilitated rapid growth, resulting in the development of some of India’s most esteemed hospitality brands. In 1992, the group expanded into the UAE with the launch of the Canary Restaurant, followed by the opening of the President Hotel and Marco Polo Hotel in Dubai’s bustling business district. These iconic properties have become landmarks in their respective market segments, attracting a loyal clientele and cementing the group’s reputation for quality and service.
Today, Peninsula Hospitality Group boasts a portfolio of over 35 brands, including six hotels and 25 signature restaurants, lounges, and clubs across both the UAE and India. Its flagship properties include the Peninsula Grand Hotel in Mumbai and Dubai’s renowned President and Marco Polo Hotels, the latter being among the longest-operating hotels in the Emirates. Among its notable venues in Dubai is The Stables, located on Sheikh Zayed Road, a cosy neighbourhood British-inspired venue celebrated for its lively performances and culinary excellence.
Looking ahead, Peninsula Hospitality Group has an array of exciting projects in development, including Bluff, Great Indian Biryani (Dubai), The Daily Spread, Rush Café, Kori Rotti, Vruksha, Fish Fetish, Coconut (Dubai/India), and Legends. These initiatives reflect the company’s commitment to growth, diversification, and maintaining its position as a leader in the hospitality sector.
KAMRAN GHANI
Chief Executive Officer, Empire Developments
GHANI HOLDINGS, established in 1995, is a prominent diversified conglomerate
in the UAE, with interests spanning hospitality, tourism, trading, automobiles, and real estate. Under the visionary leadership of Kamran Ghani, the company has built a reputation for operational excellence, innovative management, and strategic growth. Ghani Holdings manages a broad portfolio of investments and subsidiaries, including the Park Regis Business Bay hotel, Zone Tourism, Hot Wheels Car Rental, Colombia Used Cars and Auto Spare Parts, and Plazzo Development Real Estate.
As the Chief Executive Officer of Empire Developments, Ghani is responsible for steering the company’s strategic direction and overseeing its rapid expansion. His leadership has been
instrumental in establishing Empire Developments as a key player in Dubai’s real estate market. He actively drives the development of innovative projects, implements customer-centric initiatives like flexible payment plans, and ensures the delivery of high-quality, affordable homes. Ghani’s hands-on approach and strategic vision continue to propel the company’s growth, reinforcing its reputation for excellence and reliability.
His vision for Empire Developments is centred on creating homes that combine quality with affordability, ensuring timely delivery and exceptional finishings. This customer-centric approach has driven its rapid growth, making it a leader in Dubai’s competitive real estate market.
Empire Developments is dedicated to constructing properties that combine aesthetic excellence with superior craftsmanship, all while emphasising long-term sustainability. The company’s objective is to set a new benchmark for quality, safety, and environmental responsibility across every market they serve. By prioritising energy efficiency, eco-conscious materials, and smart building systems, Empire Developments aims to deliver developments that meet the evolving needs of modern urban environments.
Under Ghani’s guidance, the conglomerate continues to exemplify innovation, operational efficiency, and strategic growth, shaping the UAE’s corporate and real estate sectors.
JOY ALUKKAS
Chairman, Joyalukkas Group
UNDER JOY ALUKKAS’ LEADERSHIP as Chairman and Managing Director of Joyalukkas Jewellery, the company has become a global powerhouse, renowned for its artistry, innovation, and expansive reach. As of 21 January 2026, Alukkas boasts a real- time net worth of US$5.2 billion.
Jewellery runs in his blood, being the son of Varghese Alukka, a jewellery store owner. His journey began in 1987 when he arrived in the UAE to open his family’s first overseas store in Abu Dhabi. In 2000, he took a bold step by launching his own brand, Joyalukkas, marking the start of a rapid expansion across India. The brand’s growth was propelled further by establishing a strong presence in India, transforming it into a key market for the company.
Today, Joyalukkas operates across multiple regions, with his son John Paul managing the international operations. The brand now has a significant footprint in India, the MENA region, the US, UK, Singapore, and Malaysia. Recognised for its commitment to quality, Joyalukkas was the first jewellery retailer to receive ISO 9001:2008 and ISO 14001:2004 certifications. Its extensive network includes over 85 showrooms in India alone.
Beyond business, Joyalukkas is dedicated to corporate social responsibility through the Joyalukkas Foundation. The foundation spearheads philanthropic initiatives focused on housing development, education, and healthcare, particularly supporting communities in semi-urban and rural areas.
In July 2025, Joyalukkas secured a US$136 million working capital facility from Emirates NBD. This milestone supports its long-term expansion plans across the GCC and into international markets including the UK, USA, Canada, and Australia. Since 1987, Joyalukkas has combined craftsmanship and precise design to serve over 10 million customers in 13 countries, strengthening its global footprint. The deal is seamlessly integrated with Emirates NBD’s advanced digital platforms, offering real-time visibility and operational efficiency.
K.P.BASHEER
Chairman, Western International Group
K.P. BASHEER transformed a modest start into a formidable business empire that challenges global giants.
As Founder and Chairman of Western International Group with operations spanning retail, electronics, fashion, food, and e-commerce, he has reshaped the regional landscape with strategic vision and relentless innovation. His leadership has built a diversified group that now operates in over 90 countries, employing more than 35,000 people and serving millions of consumers.
Born in Kerala, India and raised in an entrepreneurial family, Basheer began his career in Bahrain in 1983. In 1998, he launched GEEPAS in Dubai, disrupting the consumer-electronics market dominated by multinationals. GEEPAS quickly became a household name across the GCC and Asia, recognised for quality and value. Over the years, he expanded the Group’s portfolio, creating more than 30 brands and establishing flagship ventures such as Nesto Hypermarkets and Mark & Save, which have cemented Western International Group as a regional retail powerhouse.
Under his guidance, the conglomerate has strengthened supply chains, launched e-commerce platforms, and introduced value- retail concepts, offering accessible products across multiple
markets. Basheer’s strategic focus on value and consumer accessibility has driven the group’s growth in diverse sectors, including household goods, garments, travel accessories, and footwear.
Today, the Group’s brands include Geepas Electronics and Appliances, Nesto Supermarkets, Royalford Kitchenware, Olsenmark Electronics, and Gala Supermarkets, among others. Headquartered in Dubai, the conglomerate continues to expand its footprint across the Middle East, Africa, South Asia, and Europe, constantly enriching its portfolio with new brands and divisions. Basheer’s vision has positioned his group as a major regional player, shaping the future of retail and consumer goods in the region.
MAQSOOD MUHAMMED
Founder and Chairman of AFM Holding
MAQSOOD MUHAMMED, Founder and Chairman of AFM Holding, is a seasoned entrepreneur with a distinguished background in technology and real estate. His leadership has steered
the company from its origins as an IT solutions provider into a diversified conglomerate operating across intelligent transportation, renewable energy, property development, and retail sectors.
Muhammed’s journey began in India, where he grew up in a family that emphasised resilience and responsibility. Supporting his family from a young age, he balanced education with work, which fostered a relentless drive to succeed.
He graduated with a BSc in Information Technology from Mahatma Gandhi University, laying the foundation for his technical expertise. His early career included roles as a hardware engineer and education consultant, along with certifications that strengthened his industry credentials. In 2000, he moved to the UAE, working as an IT systems engineer with the UAE Navy, gaining valuable experience in complex technological environments. Later, he served as a network engineer at Dubai Municipality, further honing his skills.
In 2022, he launched AFM Properties, focusing on redefining excellence in Dubai’s vibrant real estate market. His diverse portfolio includes residential and commercial properties across the UAE and internationally. He leverages his technical acumen to optimise operations, marketing, and financial performance, ensuring maximum value for investors and tenants alike. Beyond property, he has expanded into alternative energy with Geo Power, digital marketing through Digistromer, and media production with Media Stream. His entrepreneurial spirit is exemplified by the launch of MNGTS, his cryptocurrency initiative.
Under Muhammed’s leadership, the company’s strategic focus includes deepening real estate investments, expanding renewable energy projects, and scaling digital and retail ventures. The goal is to develop a connected ecosystem where technology enhances every aspect of the business, promoting responsible growth that benefits communities and stakeholders.
NARESH KUMAR BHAWNANI
Founder and Chairman, West Zone Group
NARESH KUMAR BHAWNANI, Founder and Chairman of West Zone Group, is the driving force behind transforming a single supermarket into a major retail and diversified enterprise across the UAE. His visionary leadership has positioned the Group as a prominent regional conglomerate, renowned for its extensive footprint and commitment to excellence.
Relocating from India in the late 1980s, Bhawnani immersed himself in the UAE’s burgeoning retail and hospitality sectors, seizing opportunities for growth and innovation. On 2 December 2005, he opened the first West Zone supermarket in Mirdif, Dubai, laying the foundation for what would become a formidable retail empire.
Over the years, the Group has expanded into logistics, real estate, construction, hospitality, and technology, now operating over 150 retail outlets, including hypermarkets, supermarkets, and convenience stores, across the UAE and beyond.
A key milestone was the acquisition of Safestway, three Giant outlets, and G-Mart, which significantly boosted the group’s market position. Each store is carefully tailored to meet community needs, offering a mix of high-quality products and exceptional customer service. Central to its operations is a state-of-the-art distribution centre, ensuring seamless supply of several global brands.
Beyond retail, Bhawnani’s focus extends to hospitality, with properties like West Zone Plaza and West Zone Pearl Hotel Apartments. Strategically located near Dubai’s major attractions, these establishments exemplify his dedication to providing world-class services and convenience.
Bhawnani’s leadership is characterised by innovation, strategic expansion, and a strong social ethos. His vision continues to drive West Zone Group’s growth, reinforcing its reputation as a trusted name in the UAE’s commercial landscape, committed to enriching lives and fostering sustainable development.
His visionary leadership has positioned the group as a prominent regional conglomerate, renowned for its extensive footprint and commitment to excellence.
VASU SHROFF
Founder and Chairman, Regal Group
VASU SHROFF has established the Regal Group as a multi-billion-dollar conglomerate, with interests spanning textiles, technology, real estate, and investments. Arriving in the UAE as
a 19-year-old in 1960, he began his entrepreneurial journey with a single trading store. Demonstrating astute business acumen, he expanded Regal Traders to encompass multiple locations across Dubai, Abu Dhabi, and Ras Al Khaimah, transforming it into a dominant force in the GCC textiles sector.
Under his visionary leadership, the Regal Group diversified its portfolio into various sectors, including technology, manufacturing, and financial services. Notably, Regal International has pioneered advancements in sports technology, while Regal Technologies serves the satellite market with high- and low-voltage systems. The Group’s Dubai-based investment arm, Regal Group of Investments, continues to support strategic growth across multiple industries.
Shroff’s influence has been instrumental in shaping the UAE’s business landscape since his arrival. He is widely recognised as Dubai’s ‘textile king’ and remains an influential figure in regional commerce. Beyond his commercial pursuits, he is deeply committed to philanthropy, supporting initiatives in education, healthcare, and community development. His dedication is exemplified by his efforts to establish 101 temples worldwide, reflecting his spiritual and cultural commitments.
A former chairperson of the India Club Dubai, Shroff co-founded the Indian High School. His journey from a young salesman and Hindi teacher to a prominent business magnate has significantly shaped the Middle East’s textile supply chain, leaving an enduring legacy of enterprise and community service.
DR. SIDDEEK AHMED
Chairman and Managing Director, Eram Group
DR. SIDDEEK AHMED has transformed Eram Group from its modest origins in the 1990s into a diversified conglomerate comprising over 126 offices spread across 16 countries in Asia and Europe. The group’s extensive regional footprint has established it as a key partner within the industry.
Headquartered in Al Khobar, KSA, and supported by regional offices in Dubai, the group operates across sectors including oil and gas, power and utilities, travel, food, healthcare, and automotive.
Dr. Ahmed has strategically positioned Eram Group across Asia, Europe, and North America, forging successful alliances with globally renowned organisations.
His significant contributions extend beyond business into social impact. Notably, Eram Scientific’s e-toilet network has deployed over 2,500 units in India, earning the country’s first Swachh Bharat hackathon victory and multiple international sanitation awards. The Group’s portfolio also features ITL World, recognised as one of the GCC’s leading travel management companies, alongside recent expansions such as Arabian Power Electronics Company and Qemat Al-Sihha Medical Center in KSA.
In 2025, Eram Holdings achieved B+ and BB+ credit ratings from S&P Global, underscoring its robust growth trajectory. Dr. Ahmed’s commitment to innovation continues through
collaborations like Wibes Eram, a partnership with Italy’s DMI Wibes to deliver industrial software solutions, including predictive maintenance platforms and IIoT solutions across the region.
Eram Holdings is a people-driven organisation, led by a highly experienced team comprising a functional board and strategic business unit heads with decades of expertise. All companies within the group are certified under ISO standards and under the visionary leadership of Dr. Ahmed; Eram Group has embedded Environmental, Social, and Governance (ESG) principles into every aspect of its operations to create a better world for all.
Dr. Ahmed has strategically positioned Eram Group across Asia, Europe, and North America, forging successful alliances with globally renowned organisations.
SANJAY ADVANI
Managing Director and Group Head of Emerging Markets, Julius Baer
SANJAY ADVANI is the Managing Director and Group Head of Emerging Markets at Julius Baer, with nearly 30 years of experience in private banking across the UAE, Singapore, and India. He is recognised for his strategic leadership, client relationship expertise, and market expansion skills.
Previously, he served as Managing Director at Julius Baer from June 2024 to May 2025. Prior to this, he was NRI Segment Head at UBS Dubai, where he led a team focused on the NRI client base, utilising negotiation and performance management to foster growth. His career also includes leadership roles at Credit Suisse, managing senior bankers and high-net-worth client portfolios in the GCC and African markets.
Advani’s professional background features positions at DBS Bank, Société Générale, and Citibank, where he contributed to regional growth initiatives and client acquisition strategies.
His broad experience encompasses developing market entry strategies and strengthening client relationships across diverse regions.
Julius Baer, the first wealth management firm established in Dubai International Financial Centre holds licence number 1. The firm has established itself as one of the largest international wealth managers in the Middle East, benefiting from Dubai’s robust regulatory environment and strategic location as a global financial hub.
Julius Baer Dubai leverages Dubai’s transparency, strategic location, and reputation as a global financial centre to act as a gateway for clients pursuing cross-border financial solutions and investment opportunities. Its presence in Dubai highlights the firm’s dedication to the Middle East market and its commitment to providing customised wealth management services within a secure and well-regulated setting.
DR. SHARAD NAIR
Co-Founder and Chairman, Tranquil Infra Developers
TRANQUIL DEVELOPERS, under the visionary leadership of Dr. Sharad Nair, is a prominent name in Dubai’s real estate landscape, specialising in creating innovative communities
that leverage the city’s evolving infrastructure. With a strong focus on mid-market developments, Tranquil Infra Developers is committed to delivering accessible, well-connected residential projects that cater to the needs of investors and residents alike.
Dr. Nair is also the Founder of SIB DMCC, a leading institution recognised for its innovation in commercial brokerage and international trade. Holding a doctorate in Management, he has built an illustrious career spanning global finance and trade, establishing himself as a respected industry figure.
His professional journey includes leadership roles at some of the world’s most renowned financial institutions, including UBS, Julius Bäer, Barclays, Sarasin Alpen, Mashreq Bank, Standard Chartered, and Citibank. Beyond banking, Dr. Nair has demonstrated notable entrepreneurial drive, venturing into venture capital since 2014, supporting the growth of various start-ups and fostering innovation.
As a recognised thought leader, he regularly speaks at international banking conferences and guest lectures at top universities worldwide. His dedication to social responsibility is evident through his board membership with the Women’s Entrepreneurship Initiative and his role in establishing a Women’s Financial Literacy programme in India.
At Tranquil Developers, Dr. Nair continues to guide strategies that navigate complex financial landscapes, ensuring compliance, growth, and innovation. As Dubai accelerates the development of the new Metro Blue Line, Tranquil is positioning itself at the forefront of the city’s infrastructure-led growth. Projects like Blossom76 in Jumeirah Village Circle (JVC) exemplify Tranquil’s focus on creating thriving communities that will benefit from future metro connectivity, aligning with industry trends of capitalising on infrastructure expansion to meet rising demand for accessible, well-connected living spaces.
DEV SHETTY
Founder and CEO, Gaston International
DEV SHETTY is a distinguished business leader and entrepreneur specialising in the coloured gemstones industry, with over 20 years of experience in driving strategic growth and successful turnarounds for leading mining companies. In January 2025, he announced the launch of Jemora Gemhouse, an innovative Dubai-based auction house dedicated to rare and high-value polished coloured gemstones. This venture aims to revolutionise the gemstone market by connecting owners with an exclusive network of international buyers.
In 2024, Shetty founded Gaston, a UAE-headquartered business group with a diverse portfolio spanning multiple sectors. The group predominantly invests in base and precious metals mining, gemstones, and advisory services. As the Founder and former CEO of Fura Gems Inc., Shetty transformed the organisation from a sole proprietorship into a global leader
in coloured gemstones. Fura Gems oversees the mining of emeralds, rubies, and sapphires across Colombia, Mozambique, and Australia.
Previously, as a Board Member and Chief Operating Officer at Gemfields, Shetty was instrumental in turning around the company’s fortunes. He played a key role in developing the world’s largest emerald mine in Zambia and the largest ruby deposit in Mozambique, solidifying his reputation as a pioneer in the sector.
Beyond mining, Shetty has made notable contributions to marketing and industry branding, collaborating with luxury brands, gemstone laboratories, and manufacturers to promote sustainability and visibility. He has championed innovative initiatives such as the mine-to-market programme for origin- certified pink sapphires and blockchain-based provenance solutions.
In August 2025, Gaston International completed the acquisition of Lucapa Diamond Company and its various interests. This strategic deal, included Lucapa’s comprehensive portfolio
of exploration and mining assets, most notably the highly productive Lulo diamond mine in Angola.
This article forms part of The 100 NRIs, a special edition by Entrepreneur Middle East spotlighting the most influential non-resident Indians shaping business, innovation, and investment across the region.
AYOOSH NAKKRA
Chairman and Founder, ARC SHIP Group
AYOOSH NAKKRA is a highly experienced maritime professional with over 20 years of expertise in vessel operations, marine engineering, and technical management. His specialisms include oil and gas tankers, offshore support vessels, and LPG carriers. As the Founder and Chairman of ARC SHIP Group since 2018, he has played a key role in driving fleet optimisation, operational efficiency, and ensuring compliance with international maritime standards.
Prior to establishing ARC SHIP, Nakkra held positions as Fleet Technical Manager and Technical Superintendent, gaining extensive experience in dry-docking, charter readiness, and successfully managing ISM and ISPS audits. His career has included key roles in high-profile projects for organisations such as NPCC, ADNOC, and Technip, where he enhanced fleet performance and streamlined technical processes.
A seasoned maritime technical professional, he possesses a strong background in negotiation, account management, and engineering, with a proven track record of working across diverse operational environments. He sailed on tankers for over a decade as a Senior Engineer Incharge, further developing his practical knowledge of vessel systems and operations. He holds a Bachelor of Engineering (B.Eng.) in Mechanical Engineering from Pune University, India.
ARC SHIP Group epitomises excellence within the maritime industry, offering comprehensive marine solutions centred on ship safety management, innovative marine products manufacturing, and fleet management services. The company’s diverse portfolio includes oil and chemical tankers, offshore vessels, container ships, general cargo vessels, and plans for expansion into bulk carriers.
The company also ensures life-saving appliances and fire- fighting equipment meet IMO and SOLAS standards through inspection, testing, and certification. ARC SHIP’s regional footprint spans the UAE, Oman, and India, built on a strong local network complemented by a globally recognised service standard. In the UAE, it supports major ports including Dubai, Fujairah, and Ras Al Khaimah, providing 24/ 7 response teams and emergency call-out services.
JAYANT LAL GANWANI
Vice Chairman and Chief Executive Officer, Lal’s Group
JAYANT LAL GANWANI’S journey into the heart of Dubai’s business landscape is a compelling story of vision and growth. Leading a diversified UAE conglomerate, as the Vice Chairman & CEO of Lal’s Group, he oversees ventures spanning retail, real estate, logistics, and hospitality.
With a management degree from NYU’s Stern School of Business and completion of the Presidents’ Leadership Programme at Harvard Business School, Ganwani combines academic excellence with practical expertise. He joined the family business in 1986, progressing through key finance and operational roles before taking the helm.
Under his leadership, Lal’s Group has solidified its place as one of the UAE’s most prominent retail giants. The group operates hundreds of stores and franchise brands, including Daiso, Homes r Us, and Mom Store. It also owned and managed iconic malls like the former Lamcy Plaza and Arabian Centre. In real estate, Ganwani co-founded Signature Developers with Regal Group, delivering landmark projects such as 118 Downtown.
Founded in 1979, Lal’s Group has built a reputation for scaling international and regional brands across retail and lifestyle sectors. Operating across the UAE, KSA, Qatar, Bahrain, Kuwait, and Oman, it manages multiple outlets, including U.S. Polo Assn., Carter’s, and Daiso Japan. Beyond retail, the Group has diversified into healthcare, education, FMCG, and real estate, with projects like The Residences JLT and Signature Mansions. With a focus on innovation and customer value, Lal’s Group continues to drive long-term growth across the GCC.
In December 2025, Lal’s Group announced the topping out of Bliss Tower in Dubai Land Residence Complex (DLRC), marking a milestone for its flagship residential development, Pure Bliss. Developed in collaboration with GRID, Bliss Tower is part of Dubai’s 2040 Urban Master Plan, prioritising green spaces and sustainable living.
KARUNAKAR R. SHETTY
Founder, Chairman and Director, Peninsula Hospitality Group
FOUNDED in 1981 by the visionary Karunakar R. Shetty, Peninsula Hospitality Group has established itself as a leading entity within the hospitality industry, with a rich legacy spanning over four decades across the UAE and India. The company’s origins trace back to a modest restaurant venture in Mumbai in 1980, which has grown into a diverse portfolio of brands and properties through strategic expansion and unwavering commitment to excellence.
Shetty’s entrepreneurial acumen facilitated rapid growth, resulting in the development of some of India’s most esteemed hospitality brands. In 1992, the group expanded into the UAE with the launch of the Canary Restaurant, followed by the opening of the President Hotel and Marco Polo Hotel in Dubai’s bustling business district. These iconic properties have become landmarks in their respective market segments, attracting a loyal clientele and cementing the group’s reputation for quality and service.
Today, Peninsula Hospitality Group boasts a portfolio of over 35 brands, including six hotels and 25 signature restaurants, lounges, and clubs across both the UAE and India. Its flagship properties include the Peninsula Grand Hotel in Mumbai and Dubai’s renowned President and Marco Polo Hotels, the latter being among the longest-operating hotels in the Emirates. Among its notable venues in Dubai is The Stables, located on Sheikh Zayed Road, a cosy neighbourhood British-inspired venue celebrated for its lively performances and culinary excellence.
Looking ahead, Peninsula Hospitality Group has an array of exciting projects in development, including Bluff, Great Indian Biryani (Dubai), The Daily Spread, Rush Café, Kori Rotti, Vruksha, Fish Fetish, Coconut (Dubai/India), and Legends. These initiatives reflect the company’s commitment to growth, diversification, and maintaining its position as a leader in the hospitality sector.
KAMRAN GHANI
Chief Executive Officer, Empire Developments
GHANI HOLDINGS, established in 1995, is a prominent diversified conglomerate
in the UAE, with interests spanning hospitality, tourism, trading, automobiles, and real estate. Under the visionary leadership of Kamran Ghani, the company has built a reputation for operational excellence, innovative management, and strategic growth. Ghani Holdings manages a broad portfolio of investments and subsidiaries, including the Park Regis Business Bay hotel, Zone Tourism, Hot Wheels Car Rental, Colombia Used Cars and Auto Spare Parts, and Plazzo Development Real Estate.
As the Chief Executive Officer of Empire Developments, Ghani is responsible for steering the company’s strategic direction and overseeing its rapid expansion. His leadership has been
instrumental in establishing Empire Developments as a key player in Dubai’s real estate market. He actively drives the development of innovative projects, implements customer-centric initiatives like flexible payment plans, and ensures the delivery of high-quality, affordable homes. Ghani’s hands-on approach and strategic vision continue to propel the company’s growth, reinforcing its reputation for excellence and reliability.
His vision for Empire Developments is centred on creating homes that combine quality with affordability, ensuring timely delivery and exceptional finishings. This customer-centric approach has driven its rapid growth, making it a leader in Dubai’s competitive real estate market.
Empire Developments is dedicated to constructing properties that combine aesthetic excellence with superior craftsmanship, all while emphasising long-term sustainability. The company’s objective is to set a new benchmark for quality, safety, and environmental responsibility across every market they serve. By prioritising energy efficiency, eco-conscious materials, and smart building systems, Empire Developments aims to deliver developments that meet the evolving needs of modern urban environments.
Under Ghani’s guidance, the conglomerate continues to exemplify innovation, operational efficiency, and strategic growth, shaping the UAE’s corporate and real estate sectors.
JOY ALUKKAS
Chairman, Joyalukkas Group
UNDER JOY ALUKKAS’ LEADERSHIP as Chairman and Managing Director of Joyalukkas Jewellery, the company has become a global powerhouse, renowned for its artistry, innovation, and expansive reach. As of 21 January 2026, Alukkas boasts a real- time net worth of US$5.2 billion.
Jewellery runs in his blood, being the son of Varghese Alukka, a jewellery store owner. His journey began in 1987 when he arrived in the UAE to open his family’s first overseas store in Abu Dhabi. In 2000, he took a bold step by launching his own brand, Joyalukkas, marking the start of a rapid expansion across India. The brand’s growth was propelled further by establishing a strong presence in India, transforming it into a key market for the company.
Today, Joyalukkas operates across multiple regions, with his son John Paul managing the international operations. The brand now has a significant footprint in India, the MENA region, the US, UK, Singapore, and Malaysia. Recognised for its commitment to quality, Joyalukkas was the first jewellery retailer to receive ISO 9001:2008 and ISO 14001:2004 certifications. Its extensive network includes over 85 showrooms in India alone.
Beyond business, Joyalukkas is dedicated to corporate social responsibility through the Joyalukkas Foundation. The foundation spearheads philanthropic initiatives focused on housing development, education, and healthcare, particularly supporting communities in semi-urban and rural areas.
In July 2025, Joyalukkas secured a US$136 million working capital facility from Emirates NBD. This milestone supports its long-term expansion plans across the GCC and into international markets including the UK, USA, Canada, and Australia. Since 1987, Joyalukkas has combined craftsmanship and precise design to serve over 10 million customers in 13 countries, strengthening its global footprint. The deal is seamlessly integrated with Emirates NBD’s advanced digital platforms, offering real-time visibility and operational efficiency.
K.P.BASHEER
Chairman, Western International Group
K.P. BASHEER transformed a modest start into a formidable business empire that challenges global giants.
As Founder and Chairman of Western International Group with operations spanning retail, electronics, fashion, food, and e-commerce, he has reshaped the regional landscape with strategic vision and relentless innovation. His leadership has built a diversified group that now operates in over 90 countries, employing more than 35,000 people and serving millions of consumers.
Born in Kerala, India and raised in an entrepreneurial family, Basheer began his career in Bahrain in 1983. In 1998, he launched GEEPAS in Dubai, disrupting the consumer-electronics market dominated by multinationals. GEEPAS quickly became a household name across the GCC and Asia, recognised for quality and value. Over the years, he expanded the Group’s portfolio, creating more than 30 brands and establishing flagship ventures such as Nesto Hypermarkets and Mark & Save, which have cemented Western International Group as a regional retail powerhouse.
Under his guidance, the conglomerate has strengthened supply chains, launched e-commerce platforms, and introduced value- retail concepts, offering accessible products across multiple
markets. Basheer’s strategic focus on value and consumer accessibility has driven the group’s growth in diverse sectors, including household goods, garments, travel accessories, and footwear.
Today, the Group’s brands include Geepas Electronics and Appliances, Nesto Supermarkets, Royalford Kitchenware, Olsenmark Electronics, and Gala Supermarkets, among others. Headquartered in Dubai, the conglomerate continues to expand its footprint across the Middle East, Africa, South Asia, and Europe, constantly enriching its portfolio with new brands and divisions. Basheer’s vision has positioned his group as a major regional player, shaping the future of retail and consumer goods in the region.
MAQSOOD MUHAMMED
Founder and Chairman of AFM Holding
MAQSOOD MUHAMMED, Founder and Chairman of AFM Holding, is a seasoned entrepreneur with a distinguished background in technology and real estate. His leadership has steered
the company from its origins as an IT solutions provider into a diversified conglomerate operating across intelligent transportation, renewable energy, property development, and retail sectors.
Muhammed’s journey began in India, where he grew up in a family that emphasised resilience and responsibility. Supporting his family from a young age, he balanced education with work, which fostered a relentless drive to succeed.
He graduated with a BSc in Information Technology from Mahatma Gandhi University, laying the foundation for his technical expertise. His early career included roles as a hardware engineer and education consultant, along with certifications that strengthened his industry credentials. In 2000, he moved to the UAE, working as an IT systems engineer with the UAE Navy, gaining valuable experience in complex technological environments. Later, he served as a network engineer at Dubai Municipality, further honing his skills.
In 2022, he launched AFM Properties, focusing on redefining excellence in Dubai’s vibrant real estate market. His diverse portfolio includes residential and commercial properties across the UAE and internationally. He leverages his technical acumen to optimise operations, marketing, and financial performance, ensuring maximum value for investors and tenants alike. Beyond property, he has expanded into alternative energy with Geo Power, digital marketing through Digistromer, and media production with Media Stream. His entrepreneurial spirit is exemplified by the launch of MNGTS, his cryptocurrency initiative.
Under Muhammed’s leadership, the company’s strategic focus includes deepening real estate investments, expanding renewable energy projects, and scaling digital and retail ventures. The goal is to develop a connected ecosystem where technology enhances every aspect of the business, promoting responsible growth that benefits communities and stakeholders.
NARESH KUMAR BHAWNANI
Founder and Chairman, West Zone Group
NARESH KUMAR BHAWNANI, Founder and Chairman of West Zone Group, is the driving force behind transforming a single supermarket into a major retail and diversified enterprise across the UAE. His visionary leadership has positioned the Group as a prominent regional conglomerate, renowned for its extensive footprint and commitment to excellence.
Relocating from India in the late 1980s, Bhawnani immersed himself in the UAE’s burgeoning retail and hospitality sectors, seizing opportunities for growth and innovation. On 2 December 2005, he opened the first West Zone supermarket in Mirdif, Dubai, laying the foundation for what would become a formidable retail empire.
Over the years, the Group has expanded into logistics, real estate, construction, hospitality, and technology, now operating over 150 retail outlets, including hypermarkets, supermarkets, and convenience stores, across the UAE and beyond.
A key milestone was the acquisition of Safestway, three Giant outlets, and G-Mart, which significantly boosted the group’s market position. Each store is carefully tailored to meet community needs, offering a mix of high-quality products and exceptional customer service. Central to its operations is a state-of-the-art distribution centre, ensuring seamless supply of several global brands.
Beyond retail, Bhawnani’s focus extends to hospitality, with properties like West Zone Plaza and West Zone Pearl Hotel Apartments. Strategically located near Dubai’s major attractions, these establishments exemplify his dedication to providing world-class services and convenience.
Bhawnani’s leadership is characterised by innovation, strategic expansion, and a strong social ethos. His vision continues to drive West Zone Group’s growth, reinforcing its reputation as a trusted name in the UAE’s commercial landscape, committed to enriching lives and fostering sustainable development.
His visionary leadership has positioned the group as a prominent regional conglomerate, renowned for its extensive footprint and commitment to excellence.
VASU SHROFF
Founder and Chairman, Regal Group
VASU SHROFF has established the Regal Group as a multi-billion-dollar conglomerate, with interests spanning textiles, technology, real estate, and investments. Arriving in the UAE as
a 19-year-old in 1960, he began his entrepreneurial journey with a single trading store. Demonstrating astute business acumen, he expanded Regal Traders to encompass multiple locations across Dubai, Abu Dhabi, and Ras Al Khaimah, transforming it into a dominant force in the GCC textiles sector.
Under his visionary leadership, the Regal Group diversified its portfolio into various sectors, including technology, manufacturing, and financial services. Notably, Regal International has pioneered advancements in sports technology, while Regal Technologies serves the satellite market with high- and low-voltage systems. The Group’s Dubai-based investment arm, Regal Group of Investments, continues to support strategic growth across multiple industries.
Shroff’s influence has been instrumental in shaping the UAE’s business landscape since his arrival. He is widely recognised as Dubai’s ‘textile king’ and remains an influential figure in regional commerce. Beyond his commercial pursuits, he is deeply committed to philanthropy, supporting initiatives in education, healthcare, and community development. His dedication is exemplified by his efforts to establish 101 temples worldwide, reflecting his spiritual and cultural commitments.
A former chairperson of the India Club Dubai, Shroff co-founded the Indian High School. His journey from a young salesman and Hindi teacher to a prominent business magnate has significantly shaped the Middle East’s textile supply chain, leaving an enduring legacy of enterprise and community service.
DR. SIDDEEK AHMED
Chairman and Managing Director, Eram Group
DR. SIDDEEK AHMED has transformed Eram Group from its modest origins in the 1990s into a diversified conglomerate comprising over 126 offices spread across 16 countries in Asia and Europe. The group’s extensive regional footprint has established it as a key partner within the industry.
Headquartered in Al Khobar, KSA, and supported by regional offices in Dubai, the group operates across sectors including oil and gas, power and utilities, travel, food, healthcare, and automotive.
Dr. Ahmed has strategically positioned Eram Group across Asia, Europe, and North America, forging successful alliances with globally renowned organisations.
His significant contributions extend beyond business into social impact. Notably, Eram Scientific’s e-toilet network has deployed over 2,500 units in India, earning the country’s first Swachh Bharat hackathon victory and multiple international sanitation awards. The Group’s portfolio also features ITL World, recognised as one of the GCC’s leading travel management companies, alongside recent expansions such as Arabian Power Electronics Company and Qemat Al-Sihha Medical Center in KSA.
In 2025, Eram Holdings achieved B+ and BB+ credit ratings from S&P Global, underscoring its robust growth trajectory. Dr. Ahmed’s commitment to innovation continues through
collaborations like Wibes Eram, a partnership with Italy’s DMI Wibes to deliver industrial software solutions, including predictive maintenance platforms and IIoT solutions across the region.
Eram Holdings is a people-driven organisation, led by a highly experienced team comprising a functional board and strategic business unit heads with decades of expertise. All companies within the group are certified under ISO standards and under the visionary leadership of Dr. Ahmed; Eram Group has embedded Environmental, Social, and Governance (ESG) principles into every aspect of its operations to create a better world for all.
Dr. Ahmed has strategically positioned Eram Group across Asia, Europe, and North America, forging successful alliances with globally renowned organisations.
SANJAY ADVANI
Managing Director and Group Head of Emerging Markets, Julius Baer
SANJAY ADVANI is the Managing Director and Group Head of Emerging Markets at Julius Baer, with nearly 30 years of experience in private banking across the UAE, Singapore, and India. He is recognised for his strategic leadership, client relationship expertise, and market expansion skills.
Previously, he served as Managing Director at Julius Baer from June 2024 to May 2025. Prior to this, he was NRI Segment Head at UBS Dubai, where he led a team focused on the NRI client base, utilising negotiation and performance management to foster growth. His career also includes leadership roles at Credit Suisse, managing senior bankers and high-net-worth client portfolios in the GCC and African markets.
Advani’s professional background features positions at DBS Bank, Société Générale, and Citibank, where he contributed to regional growth initiatives and client acquisition strategies.
His broad experience encompasses developing market entry strategies and strengthening client relationships across diverse regions.
Julius Baer, the first wealth management firm established in Dubai International Financial Centre holds licence number 1. The firm has established itself as one of the largest international wealth managers in the Middle East, benefiting from Dubai’s robust regulatory environment and strategic location as a global financial hub.
Julius Baer Dubai leverages Dubai’s transparency, strategic location, and reputation as a global financial centre to act as a gateway for clients pursuing cross-border financial solutions and investment opportunities. Its presence in Dubai highlights the firm’s dedication to the Middle East market and its commitment to providing customised wealth management services within a secure and well-regulated setting.
DR. SHARAD NAIR
Co-Founder and Chairman, Tranquil Infra Developers
