{{Short description|Diversified conglomerate based in the UAE}} {{Infobox company | name = Al Ghurair Group | logo = AlGhurairLogo.JPG | logo_size = 75px | type = [[Privately held company|Private]] | foundation = {{start date and age|1960}} in [[Dubai]], [[United Arab Emirates]] | founder = [[Saif Ahmad Al Ghurair]] | location = Dubai, United Arab Emirates | area_served = [[United Arab Emirates|UAE]], [[Gulf Cooperation Council|GCC]], [[Middle East and North Africa|MENA]], [[Europe]], [[Asia]], [[Australia]], [[North America]] | key_people = [[Abdul Rahman Saif Al Ghurair]] (Chairman)<br>Majid Saif Al Ghurair (CEO) | industry = [[Conglomerate (company)|Conglomerate]] | divisions = Manufacturing<br>Real estate<br>Investments | subsidiaries = Taghleef Industries<br>Gulf Extrusions<br>Taweelah Aluminium Extrusion Company (TALEX)<br>Al Ghurair Iron & Steel<br>Arabian Packaging<br>Arabian Flexible Packaging<br>Arabian Can Industries<br>BurJuman Centre<br>Al Ghurair Real Estate | homepage = {{URL|http://www.alghurair.com/}} }} '''Al Ghurair Group''' ({{langx|ar|مجموعة سيف الغرير}}), also known as '''Saif Al Ghurair Group''', is a [[Dubai]], [[United Arab Emirates]]–based business group founded by the Al Ghurair family.<ref name = internationaldirectory>{{cite news | title = Al Ghurair Group |publisher = International Directory of Company Histories |volume = 143}}</ref> A diverse conglomerate, it has operations in the [[Middle East]], [[North Africa]], [[Europe]] and [[North America]].<ref name = internationaldirectory/> The grandsons of Al Ghurair Group founder Ahmad Al Ghurair run the group. [[Abdul Rahman Saif Al Ghurair]] is chairman and Majid Saif Al Ghurair is the [[chief executive officer]].<ref name = majid>{{cite web| url = http://gulfnews.com/news/gulf/uae/general/majid-saif-al-ghurair-new-chairman-of-dsmg-1.473269 | title =Majid Saif Al Ghurair new chairman of DSMG | date=11 January 2009 | publisher =Gulf News | access-date=8 August 2014}}</ref><ref name = constructionweek2014>{{cite web| url = http://www.constructionweekonline.com/article-28744-2014-construction-week-power-100-51-60/ | title =2014 Construction Week Power 100: 51-60 | date =22 June 2014 | publisher = Construction Week Online | access-date =8 August 2014}}</ref>
==Overview==
===Divisions=== The group has three main lines of business: manufacturing, real estate, and investments.<ref name = internationaldirectory/> The group's manufacturing businesses include petrochemicals, aluminium and steel, and packaging.
Its petrochemical subsidiaries include Taghleef Industries and Adeka Al Ghurair Additives, a chemical additives manufacturer.
Aluminium extrusion companies Gulf Extrusions and Taweelah Aluminium Extrusion Company (TALEX), and The Royal Engineering Fabrication Company (REFCO), an aluminium fabricator for automobile parts, represent the group's aluminium businesses. Gulf Extrusions is one of the largest extrusion plants in the Gulf region.<ref>{{cite web| url = http://www.industrysourcing.com/articles/251208.aspx | title = Gulf Extrusions' Modar Al Mekdad: on commitment and quality | author = Zainab Mansoor | date = 2012-01-04 | publisher = Industry Sourcing | access-date = 13 August 2014|archive-url=https://web.archive.org/web/20140814071046/http://www.industrysourcing.com/articles/251208.aspx|archive-date=2014-08-14}}</ref>
The Al Ghurair Group's packaging businesses include Arabian Packaging, a [[Corrugated fiberboard|corrugated packaging]] manufacturer, Arabian Flexible Packaging, and Arabian Can Industry, a manufacturer of multipurpose cans. The manufacturing division also includes Al Ghurair Iron & Steel, a cold rolling and galvanizing complex located in [[Mussafah]]. CAFU a petrol delivery app which was launched in 2018 has seen growth in the market also.<ref>{{Cite web |last=Release |first=Press |title=CAFU surpasses two million fills; reveals UAE residents are increasingly choosing on-demand car services over waiting in line at petrol stations |url=https://www.zawya.com/en/press-release/cafu-surpasses-two-million-fills-reveals-uae-residents-are-increasingly-choosing-on-demand-car-services-over-r6ywt1d4 |access-date=2023-02-28 |website=www.zawya.com |language=en}}</ref>
Al Ghurair Real Estate oversees the group's real estate portfolio. The group also operates shopping malls, including the [[BurJuman|BurJurman Centre]] and Reef Mall.<ref name=companyprofile>{{cite web| url = http://www.alghurair.com/index.php?option=com_content&task=view&id=13&Itemid=194 | title = Company profile | access-date = 13 August 2014}}</ref> The Group's financial investments include a major stake in [[Mashreq Bank]].<ref>{{cite web | url = http://www.mashreqbank.com/uae/en/images/MB-Annual-Report-2013-English.pdf | title = Annual Report 2013 | publisher = Mashreq | access-date = 13 August 2014 | archive-date = 4 March 2016 | archive-url = https://web.archive.org/web/20160304042218/http://www.mashreqbank.com/uae/en/images/MB-Annual-Report-2013-English.pdf | url-status = dead }}</ref>
===Key people=== Majid Saif Al Ghurair is [[chief executive officer]] of the Al Ghurair Group.<ref name = majid/> He is the chairman of Drake & Scull International and the Middle East Council of Shopping Centers and a board member of Investcorp Bank BSC.<ref>{{cite web | url = http://www.nasdaqdubai.com/exchange/about-us/directors | title = Board of Directors | publisher = NASDAQ Dubai | access-date = 13 August 2014 | archive-date = 19 November 2020 | archive-url = https://web.archive.org/web/20201119155242/https://www.nasdaqdubai.com/exchange/about-us/directors | url-status = dead }}</ref> He is also a member and Young Global Leader of the [[World Economic Forum]].<ref name = weforum>{{cite web| url = http://www.weforum.org/young-global-leaders/majid-s-al-ghurair | title = Majid S. Al Ghurair | publisher = World Economic Forum | access-date = 13 August 2014}}</ref> Majid Saif Al Ghurair graduated from Al Ain University with a bachelor's degree in [[accounting]].<ref name = weforum/>
Abdul Rahman Saif Al Ghurair is the chairman of the Al Ghurair Group.<ref name = constructionweek2014/> He is the former chairman of the [[Dubai Chamber of Commerce and Industry]].<ref>{{cite web| url = http://issuu.com/global-citizen/docs/gc17/21 | title = Profiting in Peru | author = Heba Hasham | date = November–December 2013 | publisher = Global Citizen | access-date = 13 August 2014}}</ref>
== Early history (1960–1989) == The history of the Al Ghurair Group traces back to the 1930s when Ahmad Al Ghurair and his son Saif were [[pearl hunting|pearl divers]] in [[Dubai]].<ref name = internationaldirectory/> In 1960, as the business was successful and growing, Ahmad Al Ghurair founded the Al Ghurair Group to oversee the family's business interests.<ref name = internationaldirectory/> Ahmad Al Ghurair later turned the management of the family's business interests to his five sons: Saif, Abdulla, Majid, Marwan, and Jomaa.<ref name = arabianbusiness>{{cite web| url = http://www.arabianbusiness.com/arabian-business-rich-list-2010-367763.html?view=profile&itemid=367814#.U7VipvldXwg | title = The Al Ghurair family $6.52bn | publisher = Arabian Business | access-date =18 August 2014}}</ref> Saif became the chairman of the Al Ghurair Group, a position he held until the 1990s.<ref name = arabianbusiness/> The Al Ghurair Group built the United Arab Emirates' first cement factory, flour mill, and sugar refinery.<ref name = internationaldirectory/><ref>{{cite web| url = http://www.constructionweekonline.com/article-23143-2013-construction-week-power-100-61--70/5/ | title =2013 Construction Week Power 100: 61 - 70 | date =2013-06-28 | publisher =Construction Week Online | access-date =18 August 2014}}</ref>
The group founded the Bank of Oman (later Mashreq Bank) in Dubai 1967.<ref name=mashreqbank>{{cite news | title = Mashreqbank PSC |publisher = International Directory of Company Histories |volume =149}}</ref> In 1969, the group bought minority owner [[Ottoman Bank]] out of its 15 percent share of the bank.<ref name=mashreqbank/> The bank had assets of over {{Currency|3 billion|AED}} by 1978.<ref name=mashreqbank/> It had become the largest private bank in the United Arab Emirates by the 1980s.<ref name=mashreqbank/> The bank changed its name to Mashreq Bank in 1994.<ref name=mashreqbank/>
The group founded Gulf Extrusions, an [[aluminium]] [[extrusion]] plant, in 1976.<ref name = emirates247>{{cite web| url = http://www.emirates247.com/eb247/companies-markets/construction/gulf-extrusions-eyes-2012-to-start-abu-dhabi-venture-2009-12-16-1.22743 | title =Gulf Extrusions eyes 2012 to start Abu Dhabi venture | author =Sona Nambiar | date =2009-12-16 | publisher =Emirates 24/7 | access-date =18 August 2014}}</ref> The plant opened in 1979.<ref name = emirates247/> The Al Ghurair Group opened [[Persian Gulf|the Gulf's]] first shopping mall, Al Ghurair Centre, in 1981.<ref>{{cite news |url=http://www.meed.com/al-ghurair-centre-dubais-coming-city-within-the-city/1785395.article| title = Al-Ghurair Centre {{ndash}} Dubai's coming 'city within the city'|date=1998-10-09|publisher =Middle East Economic Digest}}{{subscription required}}</ref><ref>{{cite web| url = https://www.thenationalnews.com/business/dubai-s-oldest-mall-al-ghurair-centre-in-dh2bn-retail-space-expansion-1.467782/ | title = Dubai's oldest mall Al Ghurair Centre in Dh2bn retail space expansion| author = Gillian Duncan| date = 2013-02-20| publisher =The National | access-date =18 August 2014}}</ref> Arabian Packaging, a producer of [[Corrugated fiberboard|corrugated packaging]], was founded by the group in 1982.<ref>{{cite web| url = http://issuu.com/moftuae/docs/thehighflyers | title =The Highflyers | date = 2011 | publisher =United Arab Emirates | access-date =18 August 2014}}</ref>
==Modern history (since 1990)== In the 1990s brothers Saif Ahmad and Abdulla Al Ghurair decided to split the Al Ghurair Group and create two complementary companies. Saif Al Ghurair retained the chairmanship of the Al Ghurair Group (now also known as Saif Al Ghurair Group). [[Al Ghurair Investment]] (also known as Abdulla Al Ghurair Group), was spun off from the Al Ghurair Group. Al Ghurair Investment, chaired by Abdulla Al Ghurair, focused on the family's finance, food, and construction businesses.<ref name = internationaldirectory/><ref name = arabianbusiness/> The restructuring of the Al Ghurair Group was completed by 1994.{{Citation needed|date=May 2023}}
The Al Ghurair Group opened the [[Burjuman|BurJuman Centre]], a luxury shopping mall, in 1991.<ref name = gulfnewsfebruary>{{cite web| url = http://gulfnews.com/business/retail/dubai-still-has-room-for-testing-new-mall-concepts-1.1285641 | title =Dubai still has room for testing new mall concepts | author = Manoj Nair| date =3 February 2014 | publisher =Gulf News | access-date =21 August 2014}}</ref> The BurJuman was the second shopping mall to open in Dubai.<ref name = gulfnewsfebruary/> It was expanded in a {{currency|1.4 billion|AED}} renovation in 2004.<ref>{{cite news | title = BurJuman expansion project moves into final construction phase. |date =10 March 2003 |publisher=Al-Bawaba News}}</ref><ref>{{cite news | title = Unique world-class entertainment launched to celebrate opening of BurJuman extension |date=25 September 2004 |publisher=Middle East Company News}}</ref> The metro station located near BurJuman was renamed to BurJuman station in 2012.<ref>{{cite web| url = http://gulfnews.com/news/gulf/uae/danube-burjuman-hop-on-to-the-dubai-metro-1.1103917 | title = Danube, Burjuman hop on to the Dubai Metro | author = Shafaat Shahbandari| date = 12 November 2012| publisher = Gulf News| access-date =21 August 2014}}</ref>
The Al Ghurair Group founded Dubai Poly Film, a manufacturer of [[Polypropylene#Biaxially oriented polypropylene .28BOPP.29|biaxially oriented polypropylene]], in 1998.<ref>{{cite news | title=UAE Taghleef Industries To Raise BOPP Films Output of Omani Unit by 35,000 T/Year |date =23 October 2006 |publisher=Omani News Digest}}</ref> The Al Ghurair Group established Arabian Can Industry a year later in 1999.<ref name = cantech>{{cite news | title =Arabian heights. |publisher = CanTech International |date=11 December 2008|volume= 16 |issue =2}}</ref> Arabian Can Industry originally made three-piece food cans and later expanded to manufacture a variety of cans for foods and both edible and industrial oils; neck-in-cans and cans with plastic handles; and can components such as lids.<ref name = cantech/>
The Reef Mall, a {{currency|220 million|AED}} shopping mall, opened in February 2005.<ref>{{cite news | title =Dubai: REEF Mall launched |date=24 February 2005 |publisher=Al-Bawaba News}}</ref> The mall targeted middle income customers and is located in the [[Deira, Dubai|Deira]] area of Dubai.<ref name=mall2002>{{cite news | title =Saif Al Ghurair to invest Dh200m in Deira mall. |author=Manoj Nair. |date=25 December 2002 |publisher=Gulf News (Dubai, UAE)}}</ref> The construction project was paid for by the Al Ghurair Group without outside funding.<ref name=mall2002/>
Al Ghurair Iron & Steel began the construction of the United Arab Emirates' first steel [[Cold rolling#Cold rolling|cold rolling]] and [[galvanization]] complex in 2006.<ref>{{cite news | title =New $85m cold rolling, galv complex set up in Abu Dhabi |author=Bianca Markram |date=15 May 2006 |publisher=Metal Bulletin}}</ref> The [[Mussafah]]-based {{Currency|300 million|AED}} plant opened in July 2008.<ref name = internationaldirectory/><ref>{{cite news | title = UAE's first cold rolling mill set to start commissioning |date = 4 July 2008 |publisher=Steel Business Briefing}}</ref>
In 2006, Dubai Poly Film was merged with two other companies, AKPP and Technopack.<ref>{{cite web| url = http://www.ti-films.com/global/en/corporate/history | title = History | publisher =Taghleef Industries | access-date =21 August 2014}}</ref> The new company was renamed Taghleef Industries. It acquired Radici Films in 2008.<ref>{{cite news | title = Taghleef Industries acquire Radici Film |date =26 April 2008 |publisher=Middle East Company News}}</ref> Taghleef Industries also acquired United States–based Applied Extrusion Technologies in 2012.<ref name = taghleef>{{cite news | title = Taghleef adds N. America's AET to assets. |author =Lauzon, Michael |publisher =Plastics News |date =9 April 2012}}</ref> This acquisition gave the company its first North American manufacturing plant.<ref name = taghleef/> In 2014, Taghleef Industries acquired Spanish manufacturer Derprosa Film.<ref>{{Cite news | title =Taghleef buys Spanish BOPP film company. |date=10 April 2014 |publisher=European Plastics News}}</ref>
In May 2011, Gulf Extrusions entered into a joint venture with Abu Dhabi Basic Industries Corporation, a subsidiary of Senaat, to create Taweelah Aluminium Extrusion Company (TALEX).<ref name = gulfindustry2011>{{cite web| url = http://www.gulfindustryworldwide.com/news/9574_New-aluminium-unit.html | title =New aluminium unit | date =1 June 2011 | publisher =Gulf Industry | access-date =21 August 2014}}</ref> TALEX was the first industrial project to be launched in Kizad.<ref name = gulfindustry2011/> Later that year, [[Nippon Steel]] acquired a 20 percent interest in Al Ghurair Iron & Steel. The investment was used to expand Al Ghurair Iron & Steel's operations in the Middle East.<ref>{{cite news | title =Nippon Steel to invest in UAE steel mill |date=17 November 2011 |publisher=Reuters News}}</ref> Al Ghurair Petrochemicals also entered into a joint venture with Japanese plastic additive manufacturer Adeka Corporation in 2011.<ref name=sciencedirect>{{cite journal| title = Adeka forms UAE joint venture, plans new polymer additives plant in China| doi=10.1016/S0306-3747(11)70096-3| volume=2011| issue = 6| journal=Additives for Polymers| pages=5–6| year = 2011}}</ref> The joint venture was named Adeka Al Ghurair Additives.<ref name=sciencedirect/>
The Royal Engineering Fabrication Company (REFCO), a wholly owned subsidiary of the Al Ghurair Group that manufactures aluminium parts for automobiles, opened a new fabrication plant in [[Jebel Ali]] in 2013.<ref name=gulfnews013>{{cite web| url = http://gulfnews.com/business/general/new-aluminium-downstream-plant-opens-in-dubai-1.1251728 | title = New aluminium downstream plant opens in Dubai| author = Zaher Bitar| date = 5 November 2013| publisher = Gulf News| access-date =21 August 2014}}</ref> REFCO uses aluminium from the group's Gulf Extrusions subsidiary.<ref name=gulfnews013/>
==See also== * [[Saif Ahmad Al Ghurair]] * [[Emaar Group]] * [[Majid Al Futtaim Group]] * [[Hayel Saeed Anam Group]] * [[Al Shirawi Enterprises Group]] * [[Al Tayer Group]]
==External links== * [http://www.alghurair.com/ Official Website] * [http://www.al-ghurair.com/ Al Ghurair Investments]
==References== {{reflist|33em}}
[[Category:Conglomerate companies of the United Arab Emirates]] [[Category:Companies based in Dubai]] [[Category:Conglomerate companies established in 1960]] [[Category:1960 establishments in the Trucial States]]