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Arabian Business
09-05-2025
- Business
- Arabian Business
Celebrating legends: The icons who defined Indian excellence in the Middle East
Success doesn't just happen. It's built – over decades of ambition, resilience, and relentless pursuit of a bigger vision. It requires a willingness to dream bigger, a capacity to overcome setbacks, and an unwavering commitment to creating lasting impact. For years, Indian Aces has been the definitive platform to recognise the Indian community's extraordinary influence across the Middle East. It's a celebration of individuals who didn't simply find success in the Gulf – they redefined what was possible, elevated industries, and forged lasting legacies. Their contributions have helped shape economies, transform industries, and bridge cultures between India and the Arab world. As we prepare to launch Indian Aces 2025, we pause to reflect on the names that have graced past lists – legends who set the gold standard for leadership and achievement. Their stories are not just examples of personal triumph; they are integral chapters in the extraordinary story of the Gulf's rise as a global economic powerhouse. The titans of industry Some names need no introduction. Leaders like Yusuffali M.A., PNC Menon, and Sunny Varkey have become synonymous with dedication, excellence, and success. Yusuffali M.A., the force behind Lulu Group, didn't just create a retail empire; he transformed consumer habits across the Gulf, bringing a world-class shopping experience to millions. His leadership embodies the essence of cross-border entrepreneurship, marrying Indian tenacity with Gulf ambition. PNC Menon, meanwhile, pioneered a new era in luxury living with Sobha Realty, setting new standards for quality and craftsmanship not just in Dubai, but across the world. His story proves that perfection and persistence go hand-in-hand when building a brand that transcends borders. And Sunny Varkey, through GEMS Education, didn't merely build schools – he revolutionised the concept of education itself, providing opportunities for excellence to students from every corner of the globe. His work has impacted generations, shaping minds and futures far beyond classroom walls. These men didn't just build businesses. They built futures, communities, and dreams. The next wave of pioneers But Indian Aces has never only celebrated established icons. It has always shone a spotlight on the rising generation – dynamic leaders like Adeeb Ahamed, Shamsheer Vayalil, and Renuka Jagtiani who are redefining what leadership looks like today. Adeeb Ahamed's multi-sector empire, stretching from finance to hospitality to healthcare, illustrates the new model of entrepreneurship: diversified, resilient, and globally connected. His achievements show that success today demands agility and boldness across borders. Dr. Shamsheer Vayalil, founder of VPS Healthcare, built one of the region's largest healthcare networks, demonstrating that purpose-driven leadership can achieve both commercial success and meaningful societal impact. His story is a testament to the power of vision combined with compassion. Renuka Jagtiani took the head of Landmark Group and led it into a new era, modernising its operations, expanding its footprint, and reinforcing its reputation as a regional powerhouse in retail and hospitality. Her leadership is a masterclass in balancing legacy with innovation. These pioneers embody the spirit of a new generation: fearless, inventive, and deeply committed to creating a better future. The legacy builders Across the Gulf, a deeper story of success has been written by leaders like Rizwan Sajan, Thumbay Moideen, Ramesh Ramakrishnan, and Firoz Merchant. Their achievements span across diverse sectors – real estate, education, logistics, retail – but they share a common thread: resilience, foresight, and an enduring commitment to excellence. Rizwan Sajan's real estate ventures have shaped city skylines, while Thumbay Moideen's contributions to education and healthcare have built bridges across communities. Ramesh Ramakrishnan has steered logistics and trade into the modern era, and Firoz Merchant has created value not just through business, but through philanthropy. What binds them together is not just their business acumen – it's their role as custodians of a greater legacy: building stronger, more connected societies. A new era: 25 names per category In 2025, Indian Aces will evolve even further, honouring 100 extraordinary individuals across four distinct categories: Icons, New Mavericks, Change Makers, and Family Dynasties. Each category will spotlight 25 leaders who have reshaped industries, driven innovation, empowered communities, and carried forward the proud legacy of Indian enterprise in the Middle East. This approach is not just about breadth. It's about depth – capturing the richness of achievement across generations, sectors, and geographies. Whether you are a builder of institutions, a disruptor of norms, a champion of communities, or a guardian of family heritage, Indian Aces 2025 will honour your contribution. Each category is a celebration in itself. Each name a testament to what's possible when ambition meets opportunity, and leadership meets purpose. Nominations for Indian Aces 2025 are officially open. Entries close on May 19. Don't miss your opportunity to make history. History does not merely remember those who made it to the top. It honours those who helped shape a future for others. Ensure your story is part of that legacy.
Arabian Business
26-04-2025
- Business
- Arabian Business
UAE unveils massive 25mn sq ft ‘Downtown UAQ' development project
The Crown Prince of Umm Al Quwain, Sheikh Rashid bin Saud bin Rashid Al Mualla, has unveiled plans for an extensive new development called Downtown UAQ during a ceremony at the UAQ Chamber of Commerce & Industry. The project, described as a 'Coastal City Within a City', spans 25 million square feet and features 11 kilometres of shoreline, including 7 kilometres of beach and beach park, the Emirates News Agency (WAM) said in a statement. The development is structured around three districts: North Beach, Trade Centre, and South Beach. Crown Prince launches Umm Al Qaiwain's 11km UAE waterfront city development Downtown UAQ will include a trade centre, commercial offices, five-star hotels and resorts, entertainment facilities, retail destinations, and residential communities. The project is designed to accommodate approximately 150,000 residents and aims to balance residential, commercial, and public spaces. Sobha Realty, a multinational developer, has partnered with the Government of Umm Al Qaiwain for the project. The first phase will include residential, commercial, and hospitality communities. 'Downtown UAQ is not merely a project, but a vision brought to life. We are proud to partner with the Government of Umm Al Quwain to create a destination that embodies innovation, sustainability, and serene luxury,' PNC Menon, Founder of Sobha Group said. A key feature of the development is a 15 million square foot Trade Centre Free Zone, which will operate under an independent legal framework to attract international businesses and investment. The project emphasises environmental sustainability, with over 50 percent of the land dedicated to open and green spaces.
Zawya
23-04-2025
- Business
- Zawya
Moody's Ratings upgrades PNC Investments LLC (Sobha Realty)'s CFR to Ba2
Dubai: PNC Investments LLC (PNCI), the parent company of global luxury real estate developer Sobha Realty, has received an upgrade in its Corporate Family Rating (CFR) from Moody's Ratings, which raised the rating to Ba2/stable from Ba3/stable. Additionally, the senior unsecured rating of PNCI's existing $500 million sukuk issued by Sobha Sukuk Limited has been affirmed at Ba2, all outlooks remain stable. This upgrade reflects PNCI's continued strong sales, robust construction activity, and significant improvement in credit metrics. In 2024, revenue rose to AED 8.9 billion from AED 6.5 billion in the previous year. Moody's-adjusted debt to EBITDA improved to 1.7x from 2.7x in 2024 and is expected to further strengthen to 0.9x in 2025. As the second largest privately held residential developer in Dubai by sales, Sobha Realty continues to demonstrate the strength of its Backward Integration Model, allowing full control from design to delivery. This, coupled with a strong backlog of more than AED 23 billion, positions the company to navigate evolving market dynamics effectively while delivering on its commitment to excellence and timely project delivery. To read more, please reach the full report: About Sobha Realty Sobha Realty is an international luxury developer committed to redefining the art of living through sustainable communities. Established in 1976 as an interior decoration firm in Oman by PNC Menon – a visionary entrepreneur, the company has grown its presence with developments and investments in the UAE, Oman, and India. For nearly five decades, Sobha Realty has been redefining the real estate value chain through 'Backward Integration,' by leveraging its inherent in-house capabilities of conceptualisation, design, and development. Today, the firm has developed into one of the most prominent and premium real estate developers in the UAE as well as aims to become a global real estate developer, with its essence, the 'Art of the Detail,' remaining deeply embedded in the organisation's DNA. With a proven track record of delivering projects ahead of schedule, the company has eleven masterplans across the UAE and is continually expanding its presence in the city with a number of other prominent projects. The flagship community of Sobha Realty (Sobha Hartland) is a thriving community that is home to over 11,000 residents.
India.com
22-04-2025
- Business
- India.com
Meet man who started business with Rs 50, now owns Rs 13290 crore company, his name is…, business is…
PNC Menon is founder of Sobha Limited, one of India's leading real estate firms. He was born in Palghat, Kerala, into a poor family. His father, a farmer, passed away unexpectedly. His mother was ill and family faced various financial struggles that also affected Menon's study so he could not complete his degree. The turning point in Menon's life came in the 1970s when he received a job offer in Oman. He used to earn only Rs 50. Later on he moved to the Middle East. He faced several challenges over there. He took a loan of Rs 3.5 lakh and started an interior design venture. After years of working he started getting high-profile projects. Some of the prestigious projects were Sultan Qaboos Grand Mosque and the Al Bustan Palace in Oman. He also collaborated with Narayana Murthy's Infosys for campus in Bengaluru. Sobha Limited In 1995, PNC Menon founded Sobha Developers, which later became Sobha Limited. It is one of India's largest real estate firms. Sobha Limited operates in 12 states across India, with a market valuation of Rs 14,789 crore. Menon expanded the company's business to the Middle East and other Arab nations.
Zawya
30-01-2025
- Business
- Zawya
Sobha unveils 2316-unit 'oasis of luxury' in Dubai Motor City
Sobha Realty, a leading global luxury real estate developer, has announced the launch of Sobha Solis, its first project of 2025. Located in Dubai Motor City, the development sets a new benchmark in active lifestyles. Sobha Solis offers 2,316 residential units, ranging from one- to three-bedroom apartments, with prices starting at AED1.01 million ($274,944). The new project features several key amenities including the first-ever Arsenal-branded gym, offering residents a world-class fitness experience. At the heart of the development is a sunken leisure pool inspired by luxury resorts, surrounded by lush greenery that creates a serene oasis within Motor City. Additional features include a jogging track, rock-climbing wall, tennis court, zen garden, pet park, and leisure and children's pools, it stated. On the new project, PNC Menon, Founder of Sobha Group, said: "The launch of Sobha Solis represents the beginning of yet another exciting year. The masterplan caters to the increasing demand for an active, wellness-oriented lifestyle in one of Dubai's thriving urban destinations." "Sobha Solis introduces the company's first-ever fully furnished apartments, a testament to the group's renowned backward integration model that ensures the highest standards of craftsmanship, quality control, and design," he stated. The development's architectural design prioritises natural light and space, with large layouts, floor-to-ceiling windows, and superior sound insulation. Each apartment is fully equipped with high-quality kitchen appliances, blending functionality with aesthetic elegance. "Strategically located in Motor City, Sobha Solis offers seamless connectivity to key locales. Thoughtfully conceptualized to cater to active living, the development reflects consumer insights and our commitment to delivering quality and excellence," said Menon. According to him, Motor City's strategic location offers excellent connectivity and a vibrant urban environment with shopping centres, dining venues, healthcare facilities, educational institutions, and recreational hubs. "This makes it a sought-after destination for investors, with industry reports highlighting an average rental yield of 9% and capital appreciation of 32%," he noted. In line with Sobha Realty's commitment to sustainability, the new Motor City project incorporates eco-friendly features, including double-glazed facades, energy-efficient HVAC systems, EV charging stations, and advanced district cooling systems. "The use of locally sourced materials further reduces the project's environmental impact, reaffirming the company's dedication to responsible development," he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
