Al Fajer Group: Difference between revisions

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{{Multiple issues|
{{Orphan|date=October 2019}}
{{Notability|Companies|date=February 2020}}
}}
{{Infobox company
| name = Al Fajer Group
| logo =
| type = [[Private company|Private]]
| foundation = [[United Arab Emirates|UAE]] {{Start date|1970}}
| location_city = [[Dubai]]
| area_served = Worldwide
| key_people = [[Maktoum Hasher Maktoum Al Maktoum]] <small>([[President (corporate title)|President]] and [[Chief Executive Officer|CEO]])</small><br />Mubarak Eisa <small>([[General Manager|GM]])</small>
| website = [https://www.alfajer.com/index.php Official website]
| industry = [[Holding company|Holding companies]]
}}
 
'''Al Fajer Group''', based in [[Dubai]], [[United Arab Emirates]], (U.A.E.)is a nationally owned holding company established in 1970 by Sheikh Hasher bin Maktoum Al Maktoum of Dubai's ruling family.<ref name="about">{{cite web|author=angeloremedios.com |url=httphttps://www.alfajer.com/indexabout.php |title=:: Al Fajer Enterprises ::- About Us | publisher =Alfajer Al-Fajer Enterprises | website=alfajer.com |date= |accessdate=2020-02-113 October 2021}}</ref> Also known as Al Fajer Enterprises, it was established in 1970.<ref name="about"/>
 
==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.{{fact|date=October 2021}}
 
==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".<ref name="businesswire.com">{{Cite web |url=http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20080313005948&newsLang=en |title=Press Release - His Highness Sheikh Maktoum bin Hasher Al Maktoum appointed as President of Al Fajer Properties |access-date=2010-07-14 |archive-url=https://web.archive.org/web/20120920202621/http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20080313005948&newsLang=en |archive-date=2012-09-20 |url-status=dead }}</ref> 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.<ref>{{cite web|url = https://www.alfajer.com/companies.php | website = alfajer.com | title = Companies | archiveurl = https://web.archive.org/web/20211003163627/https://www.alfajer.com/companies.php | archivedate = 3 October 2021 }}</ref>
 
===Former subsidiaries===
==Overview==
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]] services in the [[United Arab Emirates]].<ref name="release2011">{{cite web|url = https://www.businesswire.com/news/home/20110115005024/en/Al-Fajer-Properties-Legal-Action-Customers-Default | title = Press Release - Al Fajer Properties to Take Legal Action against Customers in Default | date = 16 January 2011 }}</ref> Based in [[Dubai]],<ref>{{cite web|url = http://www.prlog.org/10270494-al-fajer-properties-releases-progress-report.html | title = Press Release - Al Fajer Properties Releases Progress Report |date = 30 June 2009 }}</ref> AFP acquired a "[[Land banking|land bank]]", including within the [[Jumeirah Lake Towers]] development, and commenced construction of a number of commercial towers within the development.<ref name="release2011"/> As of 2006 the company's interests included the [[Jumeirah Business Center Towers|Jumeirah Business Center]] series of commercial towers in the Jumeirah Lakes Towers free zone.<ref>{{Cite web|title=Al Fajer unveils two freehold business towers|url=https://gulfnews.com/business/property/al-fajer-unveils-two-freehold-business-towers-1.225465|access-date=2021-03-11|website=gulfnews.com|language=en}}</ref> In January 2009 the company was the subject of media coverage relating to claims of misleading selling practices.<ref>{{cite web |url=https://www.independent.co.uk/news/world/middle-east/dubai-property-scandal-claim-emerges-amid-media-blackout-1691537.html |archive-url=https://web.archive.org/web/20090530115435/http://www.independent.co.uk/news/world/middle-east/dubai-property-scandal-claim-emerges-amid-media-blackout-1691537.html |archive-date=2009-05-30 |url-access=limited |url-status=live |title=Dubai property scandal claim emerges amid media blackout |publisher=The Independent |date=28 May 2009 |accessdate=28 January 2020}}</ref><ref>{{cite web|url = https://www.ft.com/content/2af58370-e013-11dd-9ee9-000077b07658 | publisher = The Financial Times | title = Probe into Dubai $100m fraud allegations | date = 11 January 2009 }}</ref> Later in 2009, American business magazine ''[[Forbes]]'' reported that AFP was undertaking a "restructuring of its operations" to avert "financial ruin as an independent entity".<ref>{{cite web|url=https://www.forbes.com/2009/03/03/dubai-royal-showdown-business_al_fajer.html#1f72c20aa9d8 |title=Desert Storm In Dubai |work=Forbes |date= 3 March 2009 |accessdate=28 January 2020 }}</ref> According to an October 2009 press release, Sheikh Maktoum Hasher Al Maktoum (who had taken over as CEO in 2008)<ref>{{cite web |url=http://www.ameinfo.com/196682.html |title=Press Release - Al Fajer Properties completes five towers, 200 floors in one year | website = ameinfo.com |access-date=2010-11-18 |archive-url=https://web.archive.org/web/20110607204038/http://www.ameinfo.com/196682.html |archive-date=2011-06-07 |url-status=dead }}</ref> was named 'CEO of the Year' in the property sector for the Mena region for the restructuring and "turnaround" of AFP.<ref>{{cite web|url=http://www.ameinfo.com/211131.html |title=Press Release - Al Fajer CEO wins Mena 'CEO of the Year' award in property sector | website = ameinfo.com |accessdate=2010-11-18 |url-status=dead |archiveurl=https://web.archive.org/web/20110822150737/http://www.ameinfo.com/211131.html |archivedate=2011-08-22 }}</ref> By late 2017, Al Fajer Properties was no longer included on a list of subsidiary companies on the Al Fajer Group website.<ref>{{cite web|url = http://alfajer.com/companies.php | archiveurl = https://web.archive.org/web/20170723173938/http://alfajer.com/companies.php |archivedate = 23 July 2017 | website = alfajer.com | title = Companies (Jul 2017) AFP is listed }}</ref><ref>{{cite web|url = http://alfajer.com/companies.php | archiveurl = https://web.archive.org/web/20171109005600/http://alfajer.com/companies.php |archivedate = 9 November 2017 | website = alfajer.com | title = Companies (Nov 2017) AFP is not listed }}</ref>
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 wide range of international clients. Al Fajer Group reportedly has 18,000 employees and an annual group turnover of AED 5.8 billion. The Group's business interests to date have now placed it as a market leader with the following national companies incorporated under its umbrella; Al Ahmadiah Contracting & Trading, Al Fajer Security & Maintenance, Lunar Electro, Al Fajer Establishment, Al Fajer Information & Services providing organization and management services through its five divisions which are; Fairs and Exhibitions, Octanorm Displays, Shop Fittings, Design & Graphics and International Exhibit Builders. Other group members include; Al Fajer Travel & Tourism, Al Fajer Decorations LLC, Al Fajer Investments & Development.<ref name="businesswire.com">[http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20080313005948&newsLang=en]{{dead link|date=February 2020}}</ref>
 
==References==