Al Fajer Group, based in

Dubai Dubai (Help:IPA/English, /duːˈbaɪ/ Help:Pronunciation respelling key, ''doo-BYE''; Modern Standard Arabic, Modern Standard Arabic: ; Emirati Arabic, Emirati Arabic: , Romanization of Arabic, romanized: Help:IPA/English, /diˈbej/) is the Lis ...

United Arab Emirates The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab E ...

, is a nationally owned holding company established by Sheikh Hasher bin Maktoum Al Maktoum of Dubai's ruling family. Also known as Al Fajer Enterprises, it was established in 1970.

Formation

Al Fajer Group (AFG) was established in 1970 by its Group President Sheikh Hasher Bin Maktoum Al Maktoum, His Highness. Since his appointment of CEO of the group in 1998 the company has grown to a diversified business entity delivering services to a range of international clients.

Subsidiaries

AFG's business interests include a number of subsidiaries which, according to a 2008 press release, then had "more than 18,000 employees" across the "companies incorporated under its umbrella". As of October 2021, the subsidiary companies listed on the Al Fajer Group website included: Al Ahmadiah Contracting & Trading, Al Fajer Information Services, Al Fajer Trading LLC, Al Fajer Marine LLC, Al Fajer Decoration LLC, Al Fajer Facilities Management LLC, Bena Real Estate LLC Al Fajer Travel and Tourism, and Lunar Electro.

Former subsidiaries

Al Fajer Properties, L.L.C. (AFP) was established in 2004 as a wholly owned subsidiary of Al Fajer Group. The subsidiary company provided

property development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re- lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to oth ...

services in the

. Based in

, AFP acquired a " land bank", including within the

Jumeirah Lake Towers The Jumeirah Lakes Towers (JLT) () is a large development in Dubai, United Arab Emirates which consists of 80 towers constructed along the edges of three artificial lakes (Lake Almas West, Lake Almas East, JLT Lake) as well as the JLT Embankment o ...

development, and commenced construction of a number of commercial towers within the development. As of 2006 the company's interests included the Jumeirah Business Center series of commercial towers in the Jumeirah Lakes Towers free zone. In January 2009 the company was the subject of media coverage relating to claims of misleading selling practices. Later in 2009, American business magazine ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'' reported that AFP was undertaking a "restructuring of its operations" to avert "financial ruin as an independent entity". According to an October 2009 press release, Sheikh Maktoum Hasher Al Maktoum (who had taken over as CEO in 2008) was named 'CEO of the Year' in the property sector for the Mena region for the restructuring and "turnaround" of AFP. By late 2017, Al Fajer Properties was no longer included on a list of subsidiary companies on the Al Fajer Group website.

References

{{reflist Holding companies of the United Arab Emirates