Mohamed bin Issa Al Jaber explained

Mohamed bin Issa Al Jaber (Arabic: محمد بن عيسى الجابر|translit=Muḥammad bin ʿĪssā al-Ǧābir, born in 1959 (in Jeddah) is an Arab billionaire businessman.

Business

In 1982, Al Jaber founded Jadawel International Construction & Development.[1] He is founder, chairman and CEO of the MBI Group.[2] [3] He owns 80% of the Group.[4] The MBI Group activities include various entities including the following companies:

Al Jaber is a shareholder of AJWA Group for Food Industries, a food processing company[7]

Al Jaber was listed as a billionaire in March 2013 by Forbes[8] and in May 2014 featured in The Sunday Times Rich List at number 13, the highest entry for an Arab.[9] Arabian Business's 2013 rich list 'The world's richest Arabs' puts Al Jaber at number 2 with $12.66bn.[10] Bloomberg Billionaires reported his net worth as $7.19BN as of August 2018 [11] and Forbes Austria at $7BN in December 2023.[12]

Portugal

In September 2003, Al Jaber took over the management of Quinta Vale Da Gondra Hotel e SPA (Unipessoal) Lda.[13] In January 2008, Portuguese press revealed that Al Jaber is expanding his business in the Algarve and investing about €200 million to buy the Hotel Dona Filipa in Vale do Lobo, the golf course San Lourenzo in Quinta do Lago, the Hotel Penina and its 3 golf courses from Starman (a joint venture between the Lehman Brothers bank and Starwood Capital Group). Other assets in the regions are the Pinheiros Altos Golf Resort and the Formosa Hotel.[14] [15] [16] [17] In 2013 JJW Hotels and Resorts took over the management of the Penina Hotel and Golf Resort, and also announced plans for a major refurbishment of the Dona Filipa.[18] Mohsen MBI Al Jaber, son of Mohamed Bin Issa Al Jaber, has held the role of Vice President of the Portugal sector of the MBI Group since October 2015.[19]

Austria

In 2002, Al Jaber acquired the famous Grand Hotel, Vienna from the Japanese airline All Nippon Airways.[20] He later acquired the premises of a former bank on Kärntner Ring and converted the building to the boutique Ring Hotel.[21] In October 2006, he bought the Palais Corso, Vienna's premier luxury shopping and office complex from Generali Versicherung, for about €70 million.[22] In 2007, JJW purchased the Palace Schwarzenberg Hotel in Vienna and unsuccessfully sought to expand the hotel.[23]

In 2007, Al Jaber agreed to invest 10% in the building of the Vienna Tourism University (Modul University Vienna), and provided scholarships for students there.[24]

In the beginning of 2008, Al Jaber sought to purchase a 20% stake in the financially troubled Austrian Airlines. However, he withdrew his offer in May 2008 after the company published its negative quarterly results, based on the grounds that the company intentionally withheld the actual level of trouble faced.[25] Auditor Herbert Heiser, who was called by the court to consult in the legal dispute between AUA and Al Jaber, agreed with Al Jaber's conclusions. He states in his report that rather than its officially declared profit of €3.3 million, the AUA should have revealed a hefty loss – of around €235 million.[26] In 2023, Al Jaber won the legal dispute with Austrian Airlines. Vienna Commercial Court ruled that he was entitled to withdraw from an investment contract concluded in April 2008 due to clear misconduct on the part of Austrian Airlines. Al Jaber announced that he will file a lawsuit against AUA to compensate for business and reputational damage.[27]

In July 2008, Al Jaber took a 60% stake in Kneissl Holding GmbH, an Austrian manufacturer of sports equipment, and in 2015 the JJW Group acquired 100% of the company.[28]

In May 2011, Al Jaber said that he was defamed by Austrian Media after it implied financial difficulties in some of the companies that Al Jaber had invested in. He accused the newspapers of reporting a one-sided version of events.[29] [30]

In October 2020, Al Jaber and Robert Zadrazil, CEO of Bank Austria UniCredit, reached an amicable end to a legal dispute that had existed since 2012 following constructive discussions between the parties. As part of the resolution, the two business leaders have committed to work together in an attempt to strengthen the Austrian economy.[31]

London

In 2007, Al Jaber expanded the portfolio of the Guernsey-based JJW Hotels & Resorts group by acquiring The Eton Collection hotels for a reported £70 million.[32]

France

The Group opened their first office in France in 1991.[33] The hotel empire of Al Jaber was initially started in France in 1988 and expanded to over 35 hotel properties in France and almost 80 in Europe.[34] In October 2008, it was announced that the Group planned to acquire a number of hotels in France from the Starwood Capital Group for $2billion but the deal was not concluded.[35]

Personal life

Personal

Al Jaber is married and has three children. His children are all Trustees of the MBI Al Jaber Foundation.[36] In 2007, Al Jaber obtained Austrian nationality.[37] [38]

In 2009, MBI Al Jaber released his first book, 'Yes, the Arabs can too'[39] [40] [41] (Arabic 2009, English 2013, German 2015). The book provides a contemporary Arab view on the changes that are being wrought both economically and socially across the region.

Philanthropy

Al Jaber is the founder and Chairman of the MBI Al Jaber Foundation, founded in 2002.[42] [43] MBI Al Jaber is the founding patron and donor of the London Middle East Institute at SOAS and the MBI Al Jaber Chair in Middle East Studies.[44] MBI Al Jaber has donated to Corpus Christi College, University of Oxford;[45] University of Westminster; and London School of Hygiene and Tropical Medicine.[46] MBI Al Jaber was co-founding patron of the Olive Tree Programme at City, University of London, which ran from 2004 to 2016,[47] [48] [49] and which brought Israeli and Palestinian students together to study in London.

He has been on the advisory board of the Middle East Centre of the London School of Economics (LSE).[50] In 2003, MBI Al Jaber donated SR21 million to Dar Al-Hekma University for women in Jeddah.[51] In 2013 the MBI Al Jaber Foundation launched a Media Training Institute in Sana'a, Yemen; with a view to promoting a free press,[52] the institute offered free courses in all types of journalism and broadcasting.[53] Between 2013 and 2015, the MBI Al Jaber Foundation spent approx £1.2m; it spent £114,000 in 2016; and less than £40,000 in 2017.

Recognition

Al Jaber holds the following honorary degrees and awards:

See also

External links

Notes and References

  1. Book: Your name here . Major Players in the Muslim Business World: Elnur Salihovic: 9781627340526: Amazon.com: Books . 5 October 2015. Universal-Publishers . 978-1627340526 .
  2. Web site: MBI International & Partners. www.mbiinternational.com. 21 August 2018.
  3. Web site: Companies in the UK. dead. https://web.archive.org/web/20160305005336/https://www.companiesintheuk.co.uk/ltd/mbi-partners-uk%20. 5 March 2016. 21 August 2018.
  4. http://www.ots.at/presseaussendung/OTS_20110421_OTS0009/profil-mohamed-al-jaber-dementiert-finanzielle-schwierigkeiten%20 "profil: Mohamed Al Jaber dementiert finanzielle Schwierigkeiten"
  5. Web site: JJW Hotels & Resorts - Official Website - Best Rates Guaranteed. JJW Hotels - EN. 21 August 2018.
  6. Web site: JJW Hotels & Resorts - Official Website - Best Rates Guaranteed. JJW Hotels - EN. 21 August 2018.
  7. Web site: AJWA Group for Food Industries . 21 August 2018 . www.ajwagroup.com.
  8. Web site: Mohamed Bin Issa Al Jaber. Forbes.
  9. News: Reuters Editorial. 10 May 2014. Russians slide down UK billionaires list as Ukraine crisis bites. Reuters. 21 August 2018.
  10. Web site: The world's richest Arabs - ArabianBusiness.com. ArabianBusiness.com. 21 August 2018.
  11. Web site:
    1. 194 Mohamed Al Jaber
    . Bloomberg Billionaires Index. Bloomberg News. 22 August 2018.
  12. Web site: The Return of the Sheikh . 19 December 2023 .
  13. http://www.dre.pt/pdfgratis3s/2003/12/2003D280S001.pdf Official Gazette
  14. Joao Tiago, Sheik dos Pinheiros Altos regressa à cena no Algarve, ‘’Barlavento’’, 23 January 208
  15. http://www.regiao-sul.pt/noticia.php?refnoticia=80448 Sheikh Mohamed Bin Issa Al Jaber compra hotéis D. Filipa e Penina
  16. http://www.presstur.com/site/news.asp?news=13513 JJW Hotels & Resorts compra San Lorenzo, Dona Filipa e Penina Hotel & Golf Resort
  17. Joana Piedade, JJW Hotels investe mais 180 milhões de euros no Algarve, ‘’Publituris’’, 25 January 2008
  18. Web site: JJW Hotels & Resorts announces major renovation of the Dona Filipa Hotel, Algarve . 2013-12-07 . https://archive.today/20131207102521/http://www.traveldailynews.com/news/article/57864/jjw-hotels-amp-resorts-announces . 2013-12-07 . dead .
  19. Web site: Dona Filipa Hotel to receive major facelift. portugaldailynews. 19 November 2013. 21 August 2018.
  20. Web site: Archived copy . 2014-04-15 . dead . https://web.archive.org/web/20140416192350/http://www.grandhotelwien.com/media/2626141/140-years-grand-hotel-wien.pdf . 2014-04-16 .
  21. Web site: Relais & Chateaux Hotel The Ring - stay in the center of everything. The Ring Hotel. 21 August 2018.
  22. Irina Frühmann, "Scheich kauft Palais Corso", Wirtschaftsblatt, 5 October 2006
  23. https://www.diepresse.com/640243/wien-bitte-warten-beim-hotel-schwarzenberg
  24. Web site: Sheikh Mohamed Bin Issa Al Jaber awarded as Honorary Senator of MODUL University Vienna. MODUL University Vienna. 21 August 2018.
  25. http://austrianaviation.net/news-regional/news-detail/datum/2011/06/09/mohamed-al-jaber-sagt-engagement-ab.html "Mohamed Al Jaber sagt Engagement ab"
  26. Web site: AUA-Bilanz: Prüfer entdeckt Ungereimtheiten. July 31, 2012. Die Presse.
  27. Web site: Lufthansa Group confronted to a 1 Md€ claim .
  28. https://kneissl.com/about-kneissl/milestones-of-kneissl-2/
  29. Web site: Sheik Al Jaber wehrt sich gegen einseitige Berichterstattung.. 21 August 2018.
  30. Web site: Scheich Al Jaber will noch mehr investieren - derStandard.at. DER STANDARD. 21 August 2018.
  31. Web site: Scheich Mohamed bin Issa Al Jaber lässt alle Klagen gegen Bank Austria fallen. 2020-10-01. Börse Express. de.
  32. Web site: 2023-12-19 . The Return of the Sheikh . 2024-06-25 . Forbes . de.
  33. Web site: Milestones. www.mbialjaber.com. 21 August 2018.
  34. Web site: The chic Sheikh. 21 August 2018.
  35. News: Saudi group in $2 billion hotel deal with Starwood: paper . Reuters . Souhail . Karam . 26 October 2008.
  36. Web site: Patron & Trustees - MBI Al Jaber Foundation. www.mbifoundation.com. 21 August 2018.
  37. http://www.ots.at/presseaussendung/OTS_20080517_OTS0011/profil-erste-einbuergerung-von-mohamed-al-jaber-scheiterte-2004 ""profil": Erste Einbürgerung von Mohamed Al Jaber scheiterte 2004"
  38. Josef Redl, ""Milliardär" Al Jaber: Warum zahlt er die Rechnungen nicht?", Profil, 21 April 2011.
  39. Web site: A thirst for change: An Arab view. December 9, 2014. Arab News.
  40. Book: Yes, The Arabs Can Too: Mohamed Bin Issa Al Jaber, Michael Worton: 9780957106093: Amazon.com: Books . 21 October 2013. 978-0957106093 . Al Jaber . Mohamed Bin Issa . Worton . Michael . Arabian.
  41. Book: Jaber, Mohamed Bin Issa Al. JA, DIE ARABER KÖNNEN ES AUCH!. Amazon.
  42. Web site: Charity overview. 21 August 2018.
  43. Web site: MBI Al Jaber Foundation. www.mbifoundation.com.
  44. Web site: SOAS Honorary Fellows: Sheikh Mohamed Bin Issa Al Jaber, SOAS, University of London. www.soas.ac.uk.
  45. Web site: Go ahead given from Heritage Lottery Fund for landmark cinema restoration . www.westminster.ac.uk.
  46. Web site: MBI Al Jaber Foundation funds new world-class epidemiology research centre in London . 2020-09-12 . LSHTM . en.
  47. Web site: 26 August 2020 . Olive Tree . 2020-09-12 . City, University of London . en.
  48. Web site: 23 November 2020 . Vice-Chancellor of City University of London, Professor Paul Curran, speaks about The Olive Tree Programme . City, University of London.
  49. Web site: Lord Stone of Blackheath Mentions The Olive Tree Programme During a Parliamentary Speech . Hansard.
  50. Web site: Governance. London School of Economics and Political. Science. London School of Economics and Political Science.
  51. Web site: Dar Al-Hekma College to Get New Building. March 5, 2003. Arab News.
  52. Web site: Shakdam . Catherine . December 19, 2013 . Building a Free Press in Yemen . Majalla.
  53. News: Greenslade . Roy . December 12, 2013 . Charity sets up Yemeni training centre for journalists . The Guardian . www.theguardian.com.
  54. Web site: The Director-General celebrates the 10th anniversary of the Aladdin Project against racism and anti-Semitism - United Nations Educational, Scientific and Cultural Organization. www.unesco.org. 21 August 2018.
  55. Web site: UCL Honorary Graduands and Fellows 2012. www.ucl.ac.uk. 30 August 2012. 21 August 2018.
  56. Web site: Corpus Christi College Oxford - Home. https://web.archive.org/web/20100822143315/http://www.ccc.ox.ac.uk/Emeritus-Honorary-and-Foundation-Fellows/. dead. 22 August 2010. www.ccc.ox.ac.uk. 21 August 2018.
  57. Web site: Mohamed Bin Issa al Jaber | CGDC.eu . 2013-12-02 . dead . https://web.archive.org/web/20131203102102/http://www.cgdc.eu/honorary+board/mohamed+bin+issa+al+jaber/mohamed+bin+issa+al+jaber.html . 2013-12-03 .
  58. Web site: Honorary graduates A-Z. City, University of London. 21 August 2018.
  59. Web site: SOAS Honorary Fellows: Sheikh Mohamed Bin Issa Al Jaber, SOAS, University of London. www.soas.ac.uk. 21 August 2018.
  60. Web site: UNESCO names Sheikh Mohamed Al Jaber personal representative. 24 March 2005. 21 August 2018.
  61. Web site: alecso awards his excellency sheikh mohamed bin issa al jaber its gold medal. 19 June 2007. 21 August 2018.
  62. Web site: Islamic Educational, Scientific and Cultural Organization – ISESCO – - EN. www.isesco.org.ma. 21 August 2018.

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