Abudhabi: Prominent Indian businessman M.A. Yousuf Ali has been appointed as the vice-chairman of the apex government body for all businesses operating from the UAE’s capital city.
He is appointed by Abu Dhabi, Crown Prince Sheikh Mohamed Bin Zayed Al Nahyan, colloquially known by his initials as MBZ, is the Crown Prince of the Emirate of Abu Dhabi, Deputy Supreme Commander of the United Arab Emirates Armed Forces and the de facto ruler of Abu Dhabi.
Yousuf Ali is the chairman and managing director of UAE-based Lulu Group International, which runs a chain of businesses with an annual turnover of over 8.1 billion dollars.
Yousuf Ali was recently honoured with the Abu Dhabi Award 2021, the highest civilian honour for his almost 5-decade long contributions in the fields of economic development and philanthropy.
Yousuf Ali Abdul Kader, popularly known as MA Yousuf Ali a UAE-based Indian businessman and billionaire. He is the chairman and managing director of LuLu Group International that owns the Lulu Hypermarket chain worldwide and LuLu International Shopping Mall. With an annual turnover of US$7.4 billion, LuLu Group International employs the largest number of Indians outside India. According to Forbes Middle East, Yousuf Ali was ranked No. 1 in the Top 100 Indian business owners in the Arab World 2018. In 2006 he started his large business ventures in India, by starting a convention centre cum hotel at his native place Thrissur, Kerala namely Lulu Convention Centre. In 2013, Yousuf Ali acquired 4.99% of the Thrissur-based Catholic Syrian Bank (CSB) and acquired 4.99% shares of Thrissur based Dhanalaxmi bank. Also in 2013, he increased his stake in the Aluva-based Federal Bank to 4.47%. In 2014 Yousuf Ali acquired a 2% stake in South Indian Bank -another Thrissur based bank. In 2016, Yousuf Ali purchased the Scotland Yard Building in London. As of 2013, he held a 9.37% share in Cochin International Airport. He has bought a 10% stake in the UK-based trading firm, East India Company, and a 40% stake in its fine foods subsidiary for around $85 million in total. The Lulu Bolgatty International Convention Centre on Bolghatty Island is one of the largest convention centres in South Asia, along with the third largest Grand Hyatt branded hotel on the same campus.
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