Mohamed Bin Issa Al Jaber
| Mohamed Bin Issa Al Jaber | |
|---|---|
| Born | 1959 Jeddah, Saudi Arabia |
| Occupation | Businessman |
| Known for | MBI Group |
| Net worth | $12.66 billion |
Mohamed Bin Issa Al Jaber (Arabic محمد بن عيسى الجابر, DIN 31635 Muḥammad bin ʿĪssā al-Ǧābir, born 1959 in Jeddah) is an Arab businessman and philanthropist. He is known for hotel and resort investments through the MBI Group, and for his philanthropy through the MBI Al Jaber Foundation, based in London. He lives in Paris, London, Vienna and Jeddah.
Mohamed Bin Issa Al Jaber is Founder, Chairman and CEO of the MBI Group.
The MBI Group activities include various entities including the following companies:
In April 2011, Al Jaber announced that he owned 80% of the Group and mentioned a 300 million euro profit for the year 2010.
Al Jaber was listed as a billionaire in March 2013 by Forbes and in May 2014 featured in The Sunday Times Rich List at number 13, the highest entry for an Arab. Arabian Business's 2013 rich list 'The world's richest Arabs' puts Al Jaber at number 2 with $12.66bn. Bloomberg Billionaires gives his net worth as $9BN as of April 2014.
In 1982, Al Jaber founded Jadawel International Construction & Development. In 1989, JJW Hotels & Resorts was established in Portugal; it currently operates 60 hotel and leisure resorts in Europe and the Middle East. In 1992, AJWA Group for Agro and Food Industries, a company of which Al Jaber is a shareholder, commenced operations following the construction of the largest rice storage and processing facility in Saudi Arabia at Jeddah Islamic Port.
In 2003, Al Jaber opened negotiations to purchase J.A. Jones Construction, a US subsidiary of Philipp Holzmann construction group. However, the negotiations were not completed.
In 2003, Al Jaber's Dorrat Al Jadawel residential compound in Riyadh was one of those targeted in an Al Qaeda attack.
In September 2003, Al Jaber and Dr Nihad Ibrahim Pacha took over the management of Quinta Vale Da Gondra Hotel e SPA (Unipessoal) Lda.
In January 2008, Portuguese press revealed that Al Jaber is expanding his business in the Algarve and investing about €200 million to buy the Hotel Dona Filipa in Vale do Lobo, the golf course San Lourenzo in Quinta do Lago, the Hotel Penina and its 3 golf courses from Starman (a joint-venture between the Lehman Brothers bank and Starwood Capital Group). Other assets in the regions are the Pinheiros Altos Golf Resort and the Formosa Hotel. In 2013 JJW Hotels and Resorts took over the management of the Penina Hotel and Golf Resort, and also announced plans for a major refurbishment of the Dona Filipa. Mohsen MBI Al Jaber, son of Mohamed Bin Issa Al Jaber, has held the role of Vice President of the Portugal sector of the MBI Group since October 2015.
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