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Kabir Mulchandani
Businessman, entrepreneur and philanthropist From Wikipedia, the free encyclopedia
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Kabir Mulchandani is an Indian-born real estate and hospitality businessman and philanthropist. He is the Chairman and Chief Executive of FIVE Holdings, which includes FIVE Hotels and Resorts; FIVE Palm Jumeirah, FIVE Jumeirah Village, FIVE Zurich, FIVE LUXE, and FIVE Music along with The Pacha Group.
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He is ranked number 1626 in the Forbes list of the World’s Billionaires List: The Richest in 2025 with an estimated net worth of $2.2 billion and ranked in this list in 2024.[1]
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Career
Mulchandani served at Baron International and Baron Electronics, two Mumbai-based, family-owned firms that specialised in the distribution and sale of consumer electronics.[2]
In 2011, he founded SKAI Holdings, a Dubai-based real estate investment firm.
In 2017, Mulchandani changed his company's name from SKAI to FIVE.[3]
In November 2021, Mulchandani and FIVE Holdings purchased the first ACJ TwoTwenty from Airbus and Comlux Group in Switzerland.[4][5][6] The 16-seat jet consists of a dining table for eight passengers, a master suite, and a kitchen, with a full crew on board.[6] The aircraft registered 9H-FIVE, to be pronounced "Nine-Hotel-FIVE" entered the market in May 2023.[7] Combining a bizjet with FIVE hospitality and entertainment.[6] In June 2023, The Guardian named the jet as a private "party jet".[8]
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Personal life
In 2012, he married his second wife Nadia Zaal, one of the most influential Emirati women in the GCC, the couple have three sons and one daughter.[9]
Controversies
In 2009, Kabir was arrested in Dubai for a highly publicized case of real estate fraud. He was first let out on bail after 140 days, and later acquitted of all these charges in 2010.[10]
It was found by the Supreme Court of Dubai, claimants accused him in order to avoid honoring their financial obligations. The main allegation was directly dismissed by the Public Prosecutor.[11] The second allegation was heard in Dubai Court and judge concluded that the accused did not deceive the plaintiffs in the civil action and was not satisfied with their statements in this regard and finds no credibility in the statements as they are baseless and without evidence supporting them.[12] He was exonerated and was acquitted from all allegations.[10][11]
His legal battle with Viceroy over operator rights of the Palm Jumeirah hotel was highly publicized. Viceroy's termination took place on the same day Viceroy's UAE shareholders announced their plans to wholly own the company. Viceroy's web page has a clear note on it distancing itself from the property as it is run today.
References
External links
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