Al Haramain Group’s investment exceeds Dh1 billion in the UAE as it expands its business globally
Mr Mahtabur Rahman, Chairman of Al Haramain Group and NRB Bank, plans to invest in UAE’s education, technology and innovation sectors after investing in the Banking, Education, Tea, Real Estate and Healthcare sectors in Bangladesh as it expands its portfolio of business
Al Haramain Group of Companies, which produces Oriental and Western perfumes such as Agarwood and Dehnal Oudh, fragrances, cosmetics and personal care products, has invested more than Dh1 billion in the UAE economy and plans to invest more in the UAE’s education, science, technology and innovation sectors as it expands its business into different countries.
“With the recent visa reforms, especially expansion of the Golden Visa programme and other initiatives, we feel at home in the UAE where we can own business 100 percent. We now feel encouraged to do more in the UAE. We have invested substantial capital in the UAE economy with large factories in a 350,000 square feet plot of land – our group headquarters and main production base,” Mohammed Mahtabur Rahman, Chairman of Al Haramain Group of Companies and Chairman of NRB Bank, says.
“Although we have so far invested in traditional and oriental perfumes, Oudh and Agarwood industry, in future we are planning to invest in education, science, technology and innovation – to build a better future for all of us.
“The oil-based oriental and traditional Arabic perfumes are gaining momentum across the world, especially the Western countries, where the consumers are finding traditional Arabic perfumes durable and healthy – lasting more than a week, without any harmful affect. That is why our market is expanding, especially in the Western countries.”
Al Haramain Group, which traces its roots to the holy city of Makkah in Saudi Arabia in the 1960s, has grown from strength to strength since its establishment of Al Haramain Perfumes in 1970. The company entered the UAE market in 1981 with a showroom and then a perfume manufacturing factory. Later, as business grew, the company continued to invest in its expansion.
With a workforce of 3,000 professionals working in 100 showrooms in 12 countries including 1,200 deployed in three factories in the UAE, the company produces 1,300 types of perfumes and cosmetics products that are marketed and sold in 65 countries.
“The UAE is a great enabler of business and we have grown phenomenally ever since we started our operations in the UAE in 1981,” he says. “It is due to our decision to relocate to the UAE, that we managed to grow so fast.
“Last year, we exported goods in 3,600 containers out of the UAE to 65 export destinations in 2021 – a year when new variations of the Coronavirus disrupted global business,” Mohammed Mahtabur Rahman, Chairman of Al Haramain Group of Companies and Chairman of NRB Bank, says. “Our strong performance during COVID-19 pandemic reflects our inherent strength and resilience as well as our prudent management that helped us not only navigate out of the crisis, but also helped us to grow during these challenging times.
“We are a UAE-based company and have invested more than Dh1 billion in the UAE economy over the last 40 years. As our business grows, we are now looking forward towards a strong year of growth ahead. We have acquired more land in Ajman Industrial Area for expanding our manufacturing plant, adjacent to our corporate headquarters.”
More Precious than Gold!
Agarwood is more expensive than gold!. The price of one kilogramme of Agarwood currently starts at US100,000, whereas the price of one kilogramme gold is around US$62,591.00.
Naturally produced from the heartwood of Aquilaria trees, agarwood and its products have been gaining immense popularity as highly valuable products, especially for medicine and fragrances purposes. However, the demand for it far exceeds the available supply, which is restricted due to its nature of formation that is associated with the wounding and fungal infection of the Aquilaria trees.
Non-timber forest products have a very long history, with India being one of the earliest sources of this chips for foreign markets, which are currently traded in larger quantities.
In 2018, the worldwide sales of Agarwood chips closed in on US$30 billion (Dh110 billion), according to a report by Persistence Market Research.
“However, it is pertinent to note that, nearly 75 percent of these sales remained concentrated in the Middle East & Africa, East Asia, and South Asia. The trade of this between these regions is one of the oldest ongoing rituals, while these chips have high cultural value in Arabic countries,” it says.
As the wealth of consumer countries has steadily increased in recent times, the demand for this is significantly exceeding its supply. Currently, the total supply of these chips satisfies only 20 percent of the demand, causing a huge disruption in the market.
“Due to the high demand, the prices of a kilogramme of Agarwood currently ranges from US$100,000 to US$1 million! Most people don’t realise that Agarwood and Dehnal Oudh has become more precious than gold,” Mahtabur Rahman says.
Mohammed Mahtabur Rahman is a seasoned businessman and involved in a broad range of business and trade ventures around the world. A far-sighted person, he diversified his business interests in banking, healthcare, hospitality, aviation etc.
Mohammed Mahtabur Rahman, who hails from Bangladesh, is also the President of Bangladesh Business Council in Dubai, President of the Non-Resident Bangladeshi (NRB) Commercially Important Persons (CIP) Association (NRBCIP Association) – a global platform of Bangladeshi High Net Worth Individuals (HNWIs) who have been investing in Bangladesh.
Mr Mahtabur Rahman is one of thousands of Non-Resident Bangladeshi nationals who collectively own more than 75,000 businesses in the UAE and employ more than 225,000 people – making them one of the largest business communities in the UAE. He is the first Non-Resident Bangladeshi to have been awarded a UAE Gold Visa in July 2019.
“I thank His Highness Sheikh Khalifa bin Zayed Al Nahyan, UAE Presdent, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for their visionary leadership that makes the UAE a land of opportunity not only for the UAE nationals but for nationals of more than 200 countries who call the UAE their home,” he said.
“We have always maintained our firm belief in the UAE economy and the country’s leadership. Today, we have been rewarded for our belief, conviction and resolve. I am extremely lucky to be blessed with the kind support of His Highness Sheikh Humaid bin Rashid Al Nuaimi, Member of the UAE Supreme Council and Ruler of Ajman. It is due to his kind support, we could relocate our head office to Ajman, build one of the largest agarwood processing industries in the Gulf in Ajman and grow our business manifold in the Middle East.”
Al Haramain Group, which has diversified business interests in perfumes, tea, banking, education, healthcare and hospitality sectors, currently owns more than 20 business establishments across the GCC, Bangladesh, Malaysia, the United Kingdom, United States and other countries with more than 100 branches directly employing more than 1,000 professionals and employees.
Al Haramain Group was established as a small business in the city of Makkah, Saudi Arabia in 1970. The company entered UAE market in 1981. Later it shifted its operations and head office to the UAE.
The family hails from the north eastern Sylhet district of Bangladesh and currently owns Al Haramain Hospital Pvt Ltd – the largest healthcare facility in Sylhet – spreading across an area of 120,000 square feet to provide better healthcare services to the needy.
About Al Haramain Group
Al Haramain Group has diversified business interests in perfumes, tea, banking, education and healthcare. It currently owns more than 20 business establishments across the GCC, Bangladesh, Malaysia, the United Kingdom, United States and other countries with more than 100 branches directly employing more than 1,000 professionals and employees.
The company traces its origin in the city of Makkah in 1970, when it was retailing religious perfumes to pilgrims. Al Haramain Perfumes, its flagship business, has thrived over the last four decades due to its quality fragrance, authentic products and services.
Al Haramain Perfumes, has been accredited with dual ISO Certificates in QMS (ISO 9001:2015) and GMP (ISO 22716: 2007). Al Haramain Perfumes is a household name all over the world and the products are being sold through leading shopping malls and centers and outlets in many countries.
Al Haramain Perfumes has grown to become synonymous with quality perfumes across the GCC, the Middle East and beyond. Over the years, the company has produced a wide range of products and created outstanding blends to suit varying moods, needs, trends, occasions and personalities.
The Group diversified businesses into various sectors and currently own Asia Pacific University, Al Haramain Tea Co Ltd and Al Haramain Hospital Pvt Ltd.