Spotlight
Gargash Group
Information last updated on 25 October 2023
About the Founder and Founding Story
Ali Abdullah Gargash was born in 1903 in the small coastal town of Ajman, in what decades later would become the United Arab Emirates.[9] His father, Abdullah Gargash, earned the nickname “Gargash” due to his business of selling hardware and assorted implements. In the local dialect, these items were referred to as “Garageesh,” with “Gargash” as the singular form. Consequently, the family became widely recognized as “Gargash” among the people of Ajman.[10]
During his adolescence, Ali Gargash lost his father. In 1918, he ventured into the business world by establishing a small general trading enterprise in Ajman.[11] In the 1920s, Ali Gargash moved his business to Deira, a vibrant commercial center in Dubai. Ali launched a novel trade among Dubai’s businessmen, acquiring used transport vehicles abandoned by the British army at the Sharjah air base, which was under the British protectorate prior to 1971.[12] He would then replace the old vehicles with new machines and provide the necessary spare parts.[13] Over the years, Ali traveled worldwide to explore business opportunities, successfully growing the family business.[14] He married Fatima Abdul Rahman, with whom he had three children: Mariam, Abdullah, and Abdul Gafour.[15]
Growth Phase
During the 1940s, the business entered the oil product supply industry, providing fuel to seagoing vessels and aircraft from a depot located on Dubai Creek.[16] In the mid-1940s, after World War II, Gargash entered the automotive sector, purchasing decommissioned Royal Air Force Bedford trucks and reconditioning them for sale and transportation between Dubai and Muscat. The company soon became the official representative of Bedford Trucks in the region. In 1947, Ali’s son, Abdul Gafour, returned to the UAE from Karachi after completing his business studies and joined the family business.[17]
In 1958, Gargash Enterprise was established in Dubai. In the same year, Abdul Gafour secured a dealership with Mercedes-Benz and has been the German automakers’ authorized distributor in Dubai, Sharjah, and the Northern Emirates ever since, further strengthening the company’s position in the automotive industry. Abdul Gafour did not have children, so he enlisted his nephews, the sons of both his brother and sister, to help him run the group.[18]
During the 1970s, in the wake of the Emirates’ unification and the oil boom, the business prospered. In 1983, Ali Gargash passed away, and his son-in-law, Mohamed Abdulkhaliq Gargash, took over as chairman. Mohamed further grew the automotive business while founding the group’s real estate division. Both sectors prospered under the supervision of Mohamed and his sons.[19]
As the company continued to grow in succeeding decades, Gargash Motors was appointed official UAE distributor of the Italian brand Alfa Romeo in 1992.[20] In 1998, the group expanded into financial services with the founding of Daman Investments, led by Shehab Gargash, son of Mohamed Gargash.[21]
In 2008, Deem Finance LLC (deem) was founded as a financial services provider under the regulation of the Central Bank of UAE, operating as a division of the Gargash Group.[22] In 2007, Finasi, an Italian company founded in 1969 and renowned for providing high-end furniture via exclusive arrangements with luxury European brands, joined the group.[23] In 2015, Gargash Motors and its subsidiary General Trading signed an agreement with GAC Motor, a prominent Chinese car manufacturer, to become the exclusive distributor of GAC cars in the UAE.[24]
Today
Today, the Gargash Group of Companies is led by the third generation, with Shehab Gargash serving as managing director and group CEO, while his brother, Samir Mohamed Gargash, serves as the group’s chairman.[25] The group has a workforce of over 2,500 employees, with operations in sectors ranging from real estate to financial services. It remains best known, however, for its automotive division. Headquartered in Dubai, the group maintains a strong presence in multiple emirates, while its subsidiaries operate around the GCC. [26]
Notes
Photo Credit: Headquarters of Haj Ali Gargash's business. Image Credit: Jamal bin Howaireb Center for Studies. Image Source: Jamal bin Howaireb Center for Studies website.
[1] “مؤسسة علي قرقاش التجارية ومرور 100 عام على وجودها.” Alkhaleej, 9 March 2019, https://www.alkhaleej.ae/%D9%85%D9%84%D8%AD%D9%82/%D9%85%D8%A4%D8%B3%D8%B3%D8%A9-%D8%B9%D9%84%D9%8A-%D9%82%D8%B1%D9%82%D8%A7%D8%B4-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9-%D9%88%D9%85%D8%B1%D9%88%D8%B1-100-%D8%B9%D8%A7%D9%85-%D8%B9%D9%84%D9%89-%D9. Accessed 24 October 2023.
[2] “بلدية دبي – إعلانات الترخيص التجاري.” Al-Bayan, 1992, Sep, 18., https://archive.org/details/AlBayan1992UAEArabic/Sep%2018%201992%2C%20%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86%20%28Al-Bayan%29%2C%20%234475%2C%20UAE%20%28ar%29/page/n7/mode/2up?q=%22%D8%B9%D9%84%D9%8A+%D9%82%D8%B1%D9%82%D8%A7%D8%B4+%D9%88%D8%A3%D9%88%D9%84%D8.
[3] Ibid.
[4] Berjas, Ayman. “Emirati Majlis | Shehab Gargash Episode.” YouTube, 20 October 2021, https://www.youtube.com/watch?v=wYyxwncFwgE. Accessed 24 October 2023.
[5] “Gargash Group | Gargash GAC Motor.” Gargash GAC Motor UAE, https://www.gargashgacmotor.com/about-us/gargash-group/. Accessed 24 October 2023.
[6] “150 مليون درهم قرضاً لقرقاش لتأجير السيارات.” البيان, 12 April 2021, https://www.albayan.ae/economy/automobile/2021-04-12-1.4138848. Accessed 24 October 2023.
[7] Berjas, Ayman. “Emirati Majlis | Shehab Gargash Episode.”
[8] “About.” Gargash Group, https://www.gargash-group.com/about. Accessed 5 February 2024.
[9] Berjas, Ayman. “Emirati Majlis | Shehab Gargash Episode.”
[10] “مؤسسة علي قرقاش التجارية ومرور 100 عام على وجودها.” Alkhaleej, 9 March 2019.
[11] Berjas, Ayman. “Emirati Majlis | Shehab Gargash Episode.”
[12] Davidson, Christopher M. “Arab Nationalism and British Opposition in Dubai, 1920—66.” Middle Eastern Studies, vol. Vol. 43, November 2007. JSTOR, https://www.jstor.org/stable/40262537.
[13] “مؤسسة علي قرقاش التجارية ومرور 100 عام على وجودها.” Alkhaleej, 9 March 2019.
[14] Berjas, Ayman. “Emirati Majlis | Shehab Gargash Episode.”
[15] “بلدية دبي – إعلانات الترخيص التجاري.” Al-Bayan, 1992 9 18.
“مائة سنة من صناعة المستقبل علي قرقاش أول وكيل لسيارات مرسيدس – مركز جمال بن حويرب للدراسات.” مركز جمال بن حويرب للدراسات, https://jbhsc.ae/%D9%85%D8%A7%D8%A6%D8%A9-%D8%B3%D9%86%D8%A9-%D9%85%D9%86-%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%82%D8%A8%D9%84-%D8%B9%D9%84%D9%8A-%D9%82%D8%B1%D9%82%D8%A7%D8%B4-%D8%A3%D9%88/. Accessed 24 October 2023.
[16] Berjas, Ayman. “Emirati Majlis | Shehab Gargash Episode.”
[17] Bitar, Zaher. “A tribute to a leading Emirati businessman | Business – Gulf News.” Gulf News, 22 April 2010, https://gulfnews.com/business/a-tribute-to-a-leading-emirati-businessman-1.615962. Accessed 24 October 2023.
[18] Debusmann Jr., Bernd. “Shehab Gargash: This is About Survival.” Arabian Business, 2020, pp. 16-21, https://mags.itp.com/ArabianBusiness/2020/2111-ABE-31MAY2020/#page=2. Accessed 24 October 2023.
Bitar, Zaher. “A tribute to a leading Emirati businessman | Business – Gulf News.”
[19] Ibid.
[20] “Automobile List 2019: Gargash Enterprises.” Arabian Business, https://www.arabianbusiness.com/lists/421022-automobile-list-2019-gargash-enterprises. Accessed 24 October 2023.
[21] Berjas, Ayman. “Emirati Majlis | Shehab Gargash Episode.”
“Daman Securities » Our Management.” Daman Securities, https://www.damansecurities.com/en/management.html. Accessed 24 October 2023.
[22] “Financial Services.” Gargash Group, https://www.gargash-group.com/financial-services. Accessed 25 October 2023.
[23] “About.” Finasi, https://www.finasi.ae/about. Accessed 24 October 2023.
[24] “Gargash Group | Gargash GAC Motor.” Gargash GAC Motor UAE, https://www.gargashgacmotor.com/about-us/gargash-group/. Accessed 24 October 2023.
For Shehab Gargash biographical profile see: “Shehab M. Gargash – Home.” Daman Investments, https://daman.ae/team-showcase/shehab-m-gargash/. Accessed 25 October 2023.
For Samir Gargash biographical profile see:
“Samir M. Gargash – Home.” Daman Investments, https://daman.ae/team-showcase/samir-m-gargash/. Accessed 25 October 2023.
[26] Bitar, Zaher. “A tribute to a leading Emirati businessman | Business – Gulf News.”
To cite this article please use:
“Gargash Group” Family Business Histories Research Project, New York University Abu Dhabi and Tharawat Family Business Forum, 15 Aug. 2024, familybusinesshistories.org/spotlights/gargash-group