The 50 Richest Indians in the GCC

By | March 28, 2017
The 50 Richest Indians in the GCC

Thumbay Moideen – (2bn)

Last year was a solid year for Dubai-based Thumbay Group. It announced in June that its construction subsidiary would build $326m of new healthcare and residential projects in the Gulf, including six new hospitals and 12 clinics in the UAE, Qatar, Egypt, India and elsewhere. The group plans to recruit 10,000 new employees to support its planned growth, taking the current 4,000 staff to around 15,000 by 2021.

11. | Industry:Diversified | Company:Thumbay Group | Designation:Founder | Country:UAE | Value (US$):(2bn)

A third-generation entrepreneur, founding president Thumbay Moideen was thrust into business at an early age, handling the mantle of the conglomerate established by his father Ahamed Hajee Mohiudeen and grandfather Yenepoya Moideen Kunhi, and expanding the firm even further. Following numerous business trips from India to the UAE over five years, he decided to establish the Thumbay Group in 1998. It has since ventured into health education, healthcare, medical research, diagnostics, retail pharmacy, health communications, information technology, retail opticals, wellness, hospitality, distribution and real estate.

As well as Thumbay Hospital in Dubai, Moideen established Gulf Medical College in Ajman, which led to the launch of GMC Hospitals, with locations in Ajman, Fujairah and Sharjah. The latest addition to Thumbay Group’s growing number of healthcare services is the Thumbay Clinics, with locations in Dubai, Ajman, Umm Al Quwain and RAK.

Moideen said the UAE healthcare sector was poised to grow at an annual rate of 12.1 percent to $71.3bn by 2020. His son, Akbar Moideen Thumbay, is vice-president of Thumbay Group’s healthcare and retail division.

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