ALI RASHID LOOTAH

CHAIRMAN, NAKHEEL ORIGIN UAE RESIDENCE UAE SECTOR REAL ESTATE

Having seen Nakheel through good times and bad, Ali Rashid Lootah is surely enjoying the real estate company’s current purple patch. At the end of last year the developer said it expects its annual net profit for 2016 to exceed the $1.2bn it made the year before, having delivered five new projects at a value of $410m, including 1,300 retail outlets. With Palm Jumeirah, The World, Deira Islands, Dragon City and others under its belt, the company has an impressive portfolio – made stronger by Lootah’s revelation in August that it was completely debt free. The chairman’s reputation as Nakheel’s ‘turnaround man’ has been well and truly cemented.