- Mohamed Bin Issa Al Jaber
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Mohamed Bin Issa Al Jaber (* 1959 in Jeddah) is a Saudi Arabian businessman. Since 2007 he is also citizen of Austria.
Contents
Businesses
His MBI International group compromises the following companies: JJW Hotels & Resorts, including luxury hotels in Austria, France, Portugal and the United Kingdom, Amarante 4-star hotels in France, Portugal and Egypt as well as Median 3-star hotels in and Stars budget hotels in France, AJWA Group for Food Industries, an agri-food processing company, Jadawel International, a company developing residential compounds for expatriates in Saudi Arabia, and Continentoil.
In the news
In 1982, he founded Jadawel International Construction & Development.
In 1989, JJW Hotels & Resorts was established in Portugal and is now the owner-operator of more than 60 hotel and leisure resorts in Europe and the Middle East.
In 1992, AJWA Group for Agro and Food Industries commenced operations following the construction at Jeddah Islamic Port of the largest rice storage and processing facility in Saudi Arabia.
In 2002 Al Jaber acquired the Grand Hotel Vienna from All Nippon Airways.
In 2003 he opened negotiations to purchase J.A. Jones Construction.
In 2007 Al Jaber expanded the JJW Hotels & Resort group acquiring The Eton Collection. Five boutique and townhouse hotels in London, Leeds and Edinburgh [1] were acquired in November by Westmont Hospitality.[2]
In 2008 Al Jaber planned to acquire 20-per-cent share of Austrian Airlines.[3] Instead he bought Kneissl, an Austrian manufacturer of skis and tennis rackets. In February 2010 Al Jaber made his oldest daughter Mashael Al Jaber a co-manager of Kneissl Holding. One year later Kneissl was put into administration.
In January 2008 Al Jaber's JJW acquired hotels and golf resorts in Algarve, Portugal for 268 million USD.
In July 2008 Al Jaber announced to invest more than one billion Euros in the Tours de Levallois project[4] which has not yet been built.[5]
In October 2008 Al Jaber was said to buy 12 hotels in France from the Starwood Capital Group including the Crillon.[6]
In December 2010 the Berners Hotel in London, was acquired by Marriott International.[7]
In May 2011 an Egyptian court fined nonexecutive chairman Al Jaber for untrue facts documented in company records by members of the company administration of AJWA Group for Food Industries.[8] Al Jaber had been tried in absentia in December 2010 and denying any wrongdoing, appealed against initial charges.[9]
Personal life
Mohamed Bin Issa Al Jaber lives in Paris, London, Vienna and Jeddah. Al Jaber is married and has three children.
Fortune
Forbes magazine lists him 64th on its 2009 list of world billionaires with a net worth of $7.0 billion.[10] And in 2010 he was ranked number 93 with a net worth of 7.5 billion.[11]
Philanthropy
Mohamed Bin Issa Al Jaber is founder, sole patron and Chairman of the MBI Al Jaber Foundation, which provides scholarships to graduate students from the Middle East and sponsors educational and cultural projects that promote better understanding between the peoples of the Middle East and the wider world. Through the MBI Foundation he helped to start Olive Tree, a scholarship programme that enables Israeli and Palestinian students to study together. He has also backed female education in Saudi Arabia and is a Unesco special envoy.[12] MBI Al Jaber founded the MBI Trust in London and subsequently endowed the MBI Al Jaber Chair in Middle Eastern Studies at the London University School of Oriental and African Studies (SOAS). He was founding patron in 2000 of the London Middle East Institute at SOAS, directed by the MBI Al Jaber Chair. In 2009 The MBI Al Jaber Building, which won a RIBA award for architectural excellence, was inaugurated at Corpus Christi College Oxford. In 2007, the MBI Al Jaber Foundation made a £1m gift in support of the UCL Institute for Cultural Heritage.
Awards
Al Jaber holds an Honorary Fellowship from Corpus Christi College, Oxford (2009), a Doctor of Science honorary degree from City University London (2004) and Doctor of Letters honorary degree from University of Westminster (2004), an Honorary Fellowship of London University at the School of Oriental and African Studies (2002), the ALESCO Gold Medal for his support of UNESCO projects aimed at promoting education, culture and scientific activities in the Arab World and a Gold Medal of honour for special achievements in the economic and cross-cultural educational sectors of Vienna presented by the Mayor of Vienna.
References
- ^ http://www.thisislondon.co.uk/standard-business/article-23846258-upmarket-hotels-group-eton-collapses.do
- ^ http://www.caterersearch.com/Articles/2010/12/15/336395/Eton-Group-bought-out-of-administration.htm
- ^ [1]
- ^ http://www.mbiinternational.com/mbi-news/mbi-international-invests-over-1-billion-euros-in-two-towers-in-paris
- ^ http://www.propertyeu.info/index-newsletter/tours-de-levallois-project-seeks-new-investors/
- ^ Karam, Souhail (26 October 2008). "Saudi group in $2 billion hotel deal with Starwood: paper". Reuters. http://www.reuters.com/article/2008/10/26/us-starwood-mbi-saudi-idUSTRE49P0TA20081026.
- ^ http://www.sleepermagazine.co.uk/News/679535/marriott_international_acquires_berners_hotel_for_london_edition.html
- ^ "Ajwa head to appeal Egypt financial crime convictions". Reuters. 1 January 2011. http://in.reuters.com/article/2011/01/01/us-egypt-ajwa-appeal-idINTRE7001FQ20110101.
- ^ "Ajwa head to appeal Egypt financial crime convictions". Reuters. 1 January 2011. http://www.reuters.com/article/2011/01/01/egypt-ajwa-appeal-idUKLDE70006Y20110101.
- ^ http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Mohamed-Bin-Issa-Al-Jaber_LATV.html The World's Billionaires 2009 - Forbes.com
- ^ "The World's Billionaires Page 4 of 41". Forbes. 10 March 2010. http://www.forbes.com/lists/2010/10/billionaires-2010_The-Worlds-Billionaires_Rank_4.html.
- ^ Verjee, Neelam (December 24, 2005). "Sheikh Mohamed Bin Issa Al Jaber". London: The Times. http://business.timesonline.co.uk/tol/business/article782375.ece. Retrieved 2010-12-31.
External links
External links
Categories:- Living people
- Saudi Arabian businesspeople
- Alumni of the University of London
- UNESCO people
- Saudi Arabian billionaires
- Saudi Arabian expatriates in France
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