Top 12 Richest Malayalee Businessmen in the UAE

Dubai: Business setup in Dubai or UAE has been a prominent choice for Indian entrepreneurs and business owners, as the location serves as the gateway to prominent international markets, has a close relationship with India, offers a favorable business environment, low corporate tax rates, and much more.

Indian business leaders are dominating the UAE market, and the recent list of 50 richest Indians in the Emirates, launched by a Dubai-based weekly business magazine, Gulf Business, has provided strong proof of their local influence.

Here is the List of Top 12 Richest Malayalee Businessmen in the UAE:

1. Dr. Ravi Pillai

This Kerala-born entrepreneur, by building one of the leading global business empire, the RP Group, has secured first rank among the top 12 Dubai-based billionaire Keralites. The group operates across various sectors and has become a prominent business figure in the Middle East, Asia, Australia, and Africa. For his great contributions to the community's welfare, he has been awarded the Padma Shri.

• Company Name: RP Group
• Designationation: Chairman
• Net worth: $4.2 billion
• Industry: Construction & infrastructure, hospitality, retail, etc.

2. M.A. Yusuff Ali

One of the most prominent business figures in the Middle East, M.A. Yusuff Ali, is next on the list of the 12 richest Keralites in UAE. By building a global business empire, the LuLu Group, which primarily operates in the retail sector. Apart from his sharp business mind, he is well known for his philanthropic work.

• Company Name: LuLu Group International
• Designationation: Chairman and Managing Director
• Net worth: $3.6 billion
• Industry: Retail

3. Sunny Varkey

The next Kerala-born and Dubai-based billionaire on the list is Sunny Varkey, who is well-known for his efforts to improve education globally. To provide quality education to students from all backgrounds, he established the GEMS Foundation 25 years ago. For his goodwill and philanthropic work, he has been awarded the Rajiv Gandhi and Padma Shri awards.

• Company Name: GEMS Education
• Designationation: Chairman
• Net worth: $2.6 billion
• Industry: Education

4. Azad Moopen

Born in the small village of Kerala, Kalpakkancheri, this business leader is a gold medalist MBBS and chairman of the globally leading healthcare business, Aster DM. To increase the access of medical education to a wider group of people, he has invested in many medical institutions.

• Company Name: Aster DM Healthcare
• Designationation: Chairman
• Net worth: $1 billion
• Industry: Healthcare

5. Shamsheer Vayalil

The founder of VPS Healthcare, which operates many hospitals, pharmaceutical manufacturing plants, and medical centers across the Middle East, is next on the list. The business leader has made a great dominance in the healthcare sector by establishing the largest network of hospitals in the Gulf.

• Company Name: VPS Healthcare
• Designationation: Founder
• Net worth: $1.5 billion
• Industry: Healthcare

6. PNC Menon

The next Keralite on the list is the chairman of the Middle East’s leading real estate business, Sobha Group, which is well-known for its excellent development and interior work. This Omani-based billionaire started his business journey by establishing an interior decoration firm in Oman.

• Company Name: Sobha Group
• Designationation: Chairman
• Net worth: $1.2 billion
• Industry: Real estate

7. Joy Alukkas

The next Kerala-born business tycoon on the list of the top 12 richest Indians in UAE is the owner of Joyalukkas Group, which has established a benchmark in the global jewelry industry. He is well-known for his innovative and strategic retail and jewelry trade strategies.

• Company Name: Joyalukkas Group
• Designationation: Owner
• Net Worth: $1.3 billion
• Industry: Jewelry Retail

8. Faizal Kottikollon

The next Keralite on the list is the CEO of KEF Holdings, which is primarily known for its investments in the infrastructure, healthcare, and technology sectors. Apart from his sharp industrialist vision, he is well-known for his empathic and philanthropic contributions.

• Company Name: KEF Holdings
• Designationation: CEO
• Net Worth: $1.1 billion
• Industry: Infrastructure, technology, healthcare, etc.

9. Korath Mohammed

The founder of Korath Group is next on the list, and the group has a strong presence across UAE, Qatar, Oman, and Saudi Arabia. Primarily, the group is focused on retail business and runs department stores selling brands like watches, luggage, electronics, etc.

• Company Name: Korath Group
• Designationation: Owner
• Net Worth: $900 million
• Industry: Diversified

10. Adeeb Ahmad

The CEO of the leading finance business in the UAE, LuLu International Exchange, is one of the richest and most influential business leaders. His business empire is headquartered in Abu Dhabi and operates across 80 locations across the country.

• Company Name: LuLu International Exchange
• Designationation: CEO
• Net Worth: $800 million
• Industry: Finance

11. K. Muraleedharan

The founder and chairman of SFC, one of the successful food & beverage businesses in the Emirates, is next on the list. His hospitality company is well-known for its fine dining options, premium hotels, and quality catering services.

• Company Name: K. Muraleedharan
• Designationation: Chairman
• Net Worth: $750 million
• Industry: Food & Beverage

12. Dilip Rahulan

The founder of Pacific Controls, the pioneering provider of real-time managed services and business intelligence solutions, is next on the list. The company operates globally and primarily provides IoT services.

• Company Name: Pacific Controls
• Designationation: Founder
• Net Worth: $750 million
• Industry: Technology

From healthcare and retail to technology and finance, these 12 richest Keralites have marked their dominance across the Middle East by building their successful business empires. These are all recognized for their stellar contributions in the UAE market and are role models for those who aspire to business setup in Dubai.

Keralite Business Leaders Hold $20 Billion, Making Up 26% of UAE’s Richest Indians

Around 26% of the top 50 richest Indians' UAE net worth is held by these top 12 richest Keralite business leaders (nearly $20 billion), reflecting the South Indian business owners' growing dominance in the region.

Gulf Business has released this list by taking their assets, shareholdings, and projected company value into consideration. These Indian-born billionaires are inspirations for many future business leaders who wish to start a company in Dubai, UAE.

From healthcare and retail to technology and finance, these 12 richest Keralites have marked their dominance across the Middle East by building their successful business empires. These are all recognized for their stellar contributions in the UAE market and are role models for those who aspire to a setup business in Dubai.