Hasan Abdullah Ismaik

Hasan Abdullah Ismaik
Born Kuwait
Nationality JordanJordanian Living in the United Arab Emirates
Occupation Entrepreneur and chairman of a number of prominent investment companies in the Middle East
Known for First Jordanian billionaire and the third-youngest billionaire in the Middle East

Hasan Abdullah Ismaik is a Jordanian businessman and Chairman of Hasan Abdullah Mohammed Group (HAMG Group), a UAE-based group of investment companies founded by Ismaik in 2006. He owns Marya Development & Real Estate Investment LLC, a private investment company in the United Arab Emirates with a diversified investment portfolio that includes projects worth US$4 billion. He is the Chairman and majority shareholder of the German sports club TSV München von 1860 GmbH & Co; Chairman of Al-Ashmal Real-Estate Investment Co. in Jordan; Vice Chairman of Al Manara International Jewellery in Abu Dhabi, and Chairman of publicly-listed Masaken for Land and Industrial Development Projects (Masaken Capital). In 2014, Forbes Magazine listed Ismaik as the first Jordanian billionaire and the third-youngest billionaire in the Middle East. [1][2]

Career

Ismaik launched his career as a real estate entrepreneur in Jordan, Saudi Arabia and the United Arab Emirates, with a specific interest in the oil and gas sectors. Following the introduction of the freehold property law that sparked the real estate boom in Dubai, he transferred his business focus to the UAE market where he continued to build an impressive track record of commercial achievements.[1]

Investments

Leveraging his comprehensive investment acumen and extensive experience in the United Arab Emirates and Saudi Arabia, Ismaik acquired a solid reputation as one of the most influential business leaders across the Gulf countries (GCC), the Middle East and Africa. He pushed plans to diversify his investment portfolio and explored new investment and asset acquisition opportunities in industries as diverse as energy, real estate, construction, transportation, retail and architectural design services.[1][3] In 2006, Ismaik founded HAMG Group, an Abu Dhabi-based group of investment companies. In addition to HAMG, Ismaik has commercial interest in a wide range of industries including real estate, retail, and architectural design services, among others, across the United Arab Emirates, GCC and the Middle East.[3]

HAMG Group includes the following subsidiary companies:
Marya Investments: A UAE-based private investment company that has interest in a wide range of industries spanning real estate, healthcare, education and general investments. Its flagship projects include Shams One in Dubai Marina and MARYA Down Town - Dubai; the latter comprises four central landmark towers overlooking the marina and the Burj Khalifa, along with a range of residential and serviced apartments.

Studio International Interior Design LLC: A leading UAE-based design consultancy that specialises in creative design solutions across a comprehensive range of disciplines. Studio International’s expertise covers interior design, architecture, transport and product design, landscape design, structural engineering, lighting design, MEP service design, brand development and graphics.[3]

Al Manara International Jewellery: One of the leading retailers of world-class watches and jewellery in the United Arab Emirates. Established in 1973, Al Manara International Jewellery was acquired by HAMG in partnership with Ahmed Seddiqi & Sons. It boasts the largest portfolio of finest Swiss watch and jewellery brands across a network of fourteen luxury boutiques in Abu Dhabi and Al Ain. Having built a reputation as one of Abu Dhabi’s premier retailers of luxury watches and jewellery, Al Manara operates a broad range of renowned brands including Patek Philippe, Breitling, Chopard, Audemars Piguet, Piaget, Dior, Baume & Mercier, Hublot, and Tag Heuer.[4] [5]

TSV München von 1860 GmbH & Co.: Ismaik bought 60 per cent of TSV München von 1860 Munich, a German sports club owned by the UAE-based private investment company HAMG. The club was established on 17 May 1860 following a merger with a number of local clubs.[3]

Arabtec Holdings: In 2013, Ismaik was appointed as CEO of Arabtec Holdings, the largest construction company in the GCC, which had a total market capitalization of nearly US$6.82 billion at that time. He served as the Managing Director and CEO of Arabtec Holdings and Chairman of Arabtec Constructions.[6] In June 2014, Ismaik became the single largest investor in Arabtec Holdings after increasing his personal shareholding in the company to 28.84 per cent, putting his net worth at AED 8 billion in shares at that time.[6] Under his leadership, Arabtec Holdings embarked on a new strategy toward incremental growth. He spearheaded the overhauling of the construction company’s business, driving growth by targeting new sectors. This led to the consolidation and consequent strengthening of the firm’s operations, via acquisitions, joint ventures and strategic alliances across oil, gas, energy and infrastructure sectors in the Middle East and North Africa.[7] During his tenure at Arabtec, Ismaik formed a joint venture with South Korea’s Samsung Engineering, and signed a similar agreement with GS Engineering & Construction, one of the largest multi-faceted companies in South Korea to undertake heavy civil infrastructure work in the Middle East and North Africa.[8]

Ismaik and Park Choong Heum, CEO of Samsung Engineering during the signing of an agreement to form Arabtec-Samsung Engineering Joint Venture

He signed an MOU with the Egyptian armed forces to build one million houses in Egypt. The project - one of the biggest in the region - aimed to provide housing for lower income individuals.[9] In June 2013, the Board of Directors of Depa Limited - one of the world’s leading interior contracting companies - appointed Ismaik as its new chairman. His appointment followed a strong performance by the company across its diverse and robust project catalogue in the first quarter of the year, when the company’s revenue increased by 18 per cent to AED446 million.[10]

Masaken Capital: Ismaik is the Chairman of publicly-listed Masaken for Land and Industrial Development Projects (Masaken Capital), an Amman-based real estate firm founded in 2008. He acquired 37 per cent of the company’s capital in August 2015. Deemed one of the largest investments in the Jordanian stock market, the acquisition was tasked with supporting the Jordanian economy through promoting investments and providing job opportunities for the Jordanian workforce, in line with the vision and directives of His Majesty King Abdullah II. The company’s key investments in Jordan include the Al-Haytham commercial complex, Masaken Academy, in addition to land ownership in various regions throughout the kingdom.[11][12]

Acquisition of TSV München von 1860

In June 2011, Ismaik bought 60 per cent - an investment of 18m euros ($25.8m) - of TSV München von 1860, a German sports club based in Munich that plays in the 2. Bundesliga. Becoming the first Arab to buy a German football club, Ismaik aimed to safeguard the survival of the club that was one of the founding members of the German national Bundesliga.[13]

Ismaik commented on the acquisition:
"TSV 1860 has a great tradition and identity that ought to be preserved and supported. The club has enormous potential and a truly great and passionate fan base. I will do everything to bring TSV 1860 back into the profit zone.” [13]

Charitable and Social Responsibility Activities

Social responsibility has always been at the heart of Ismaik’s business philosophy and success. He has been actively involved in numerous social, charitable and humanitarian activities in the United Arab Emirates and Jordan.

Al Kareem Mosque opposite Emirates Palace Hotel in Abu Dhabi built by Ismaik.
Al Aziz Mosque in Reem Island, Abu Dhabi built by Ismaik.

Mosques: Ismaik has constructed several mosques in the United Arab Emirates and Jordan, including the Al Aziz Mosque in Reem Island and Al Kareem Mosque opposite Emirates Palace Hotel in Abu Dhabi; both are unique landmarks in the United Arab Emirates capital.[14]
Philanthropy and Community Engagement: Ismaik’s Al Baraka Charitable Foundation, Red Crescent Society and Zakat fund support the less privileged in Jordan. In addition to providing education to gifted children from poor families, he donates generously toward helping orphans and disadvantaged families in Jordan and throughout other countries in the Middle East.

Interests

Awards & Recognition

References

  1. 1 2 3 4 Arabtec CEO Hasan Ismaik Becomes First Jordanian Billionaire. Forbes (2 June 2104). Retrieved on 17 April 2016.
  2. ↑ Chairman's Message. HAMG Website. Retrieved on 17 April 2016.
  3. 1 2 3 4 Business Units. HAMG Website. Retrieved on 17 April 2016.
  4. ↑ Ahmed Seddiqi, HAMG buy Al Manara Jewellery. Emirates 247 Newspaper(2 May 2012). Retrieved on 17 April 2016.
  5. ↑ Our Story. Al Manara International Jewellery Website. Retrieved on 17 April 2016.
  6. 1 2 Arabtec shares rise as chief overtakes Aabar as largest shareholder. The National Newspaper(5 June 2014). Retrieved on 17 April 2016.
  7. ↑ Hasan Abdullah Ismaik. Meed Magazine (6 May 2013). Retrieved on 17 April 2016.
  8. ↑ Arabtec to form joint venture with GS Engineering of South Korea. The National Newspaper (4 November 2013). Retrieved on 17 April 2016.
  9. ↑ UAE's Arabtec agrees $40 billion housing project with Egypt army. Reuters (9 March 2014). Retrieved on 17 April 2016.
  10. ↑ Depa appoints Hasan Abdullah Ismaik as Chairman. Depa Website (2 June 2013). Retrieved on 17 April 2016.
  11. ↑ Masaken Capital eyes secondary Gulf listing -chairman. Reuters (13 September 2015). Retrieved on 17 April 2016.
  12. ↑ Developments. Masaken Capital Website. Retrieved on 17 April 2016.
  13. 1 2 Mideast money saves Germany's TSV 1860 Munchen. Arabian Business (12 June 2011). Retrieved on 17 April 2016.
  14. ↑ Nahyan bin Mubarak opens Al Aziz Mosque on Al Reem Island, Abu Dhabi. Emirates News Agency (26 June 2015). Retrieved on 17 April 2016.
  15. ↑ Arabtec chief tops CW's Power 100. Construction Week Online (29 June 2013). Retrieved on 17 April 2016.
  16. ↑ Mohammed Bin Rashid among most influential economic personalities. HAMG Website (9 January 2014). Retrieved on 17 April 2016.
This article is issued from Wikipedia - version of the Saturday, April 30, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.