The United Arab Emirates has emerged as a leading hub for innovation and entrepreneurship in the MENA region. In just over 50 years since its formation in 1971, the country has transformed itself from an economy primarily focused on pearl diving, fishing, and later, oil and gas exports, to a regional powerhouse.
Among the key drivers of this remarkable transformation are visionary businessmen and women without whom it would never have happened.
In this article, we celebrate eight contemporary entrepreneurs who have made notable contributions to the UAE economy. We’ll look at businessmen and women from a variety of sectors and industries – both traditional and innovative. Let’s dive in!
1. Cynthia-Helena Rif
Cynthia Helena Rif is the director of operations and co-founder of Witwork, a company that revolutionized the concept of flexible workspaces in the UAE.
Ms. Rif graduated with a Master’s in Luxury Management from ESSEC Business School. Before co-founding WitWork in early 2018, she worked as a member of the Emirates cabin crew and served as the executive director to the board of the Canadian Business Council Abu Dhabi. Originally from Lebanon, she now lives in Abu Dhabi.
Growing up during the war in Lebanon, Ms. Rif had a challenging upbringing. She even had to live temporarily in a convent dorm with her older brother and sister. This experience taught her the value of things and instilled in her a desire to make a difference.
Under her leadership, Witwork has transformed unconventional locations into productive work environments, catering to the evolving needs of modern professionals and businesses. Her innovative business model has brought flexible work culture to the Emirates, and changed how companies and independent professionals utilize workspaces in the region.
2. Paul Kenny
Paul Kenny is an Irish entrepreneur and digital business pioneer who made his mark in the UAE’s e-commerce landscape. Kenny is the founder and former CEO of Cobone.com, one of the Middle East’s first and most successful daily deal websites.
Launched in 2010, Cobone quickly became a leading e-commerce platform in the region, offering discounted deals on products and services. Under Kenny, the company grew rapidly, attracted millions of users and partnered with thousands of merchants across the UAE and beyond.
Kenny’s journey to becoming a prominent figure in the UAE’s tech scene began with his work at Jumeirah Hospitality and later Emirates. Over the years, Kenny has worn many hats in the region. He is known for his approachable leadership style and his passion for mentoring entrepreneurs, which he now channels as an investor and mentor, leading Emerge Ventures.
3. Abdulla N. Elyas
Abdulla Elyas is a Saudi-German entrepreneur and tech innovator. He is the co-founder of Careem, a Middle Eastern transportation network company that revolutionized the region’s ride-hailing industry.
Careem expanded rapidly across the Middle East, North Africa, and South Asia, becoming one of the UAE’s first tech unicorns. The company’s success culminated in its acquisition by Uber for $3.1 billion in 2020. Elyas’s work with Careem has not only transformed urban transportation in the region but also created numerous job opportunities.
Saudi-born Elyas grew up in Germany, where he attended RWTH Aachen. He graduated with a MSc in Computer Science and holds a PhD in Business Administration, earning Magna Cum Laude honors. Before becoming a founder, he worked part-time as a software engineer and business intelligence consultant, helping companies set up SAP BI systems. This eventually led him to work with SAP as a research partner. His entrepreneurial journey began with founding Enwani, a Saudi Arabia-based route planning technology for home delivery, which was — fun fact — later acquired by Careem.
4. Michael Lahyani
Michael Lahyani is a Swiss-born entrepreneur who has significantly impacted the real estate sector in the UAE. Lahyani is the founder and CEO of Property Finder, the leading real estate digital platform in the Middle East and North Africa.
Launched in 2007, Property Finder revolutionized the way people search for and find properties in the region. The company has grown to become a dominant player in the UAE’s property market, and expanded its operations to several other countries. Lahyani’s innovative approach to real estate technology has not only simplified property transactions but also brought transparency to the market, which helped to reinforce Dubai’s position as a global real estate hub.
Michael Lahyani holds the 92nd position on the Forbes list of the Middle East’s top CEOs. Before coming to the UAE to found Property Finder, he worked at PricewaterhouseCoopers in his hometown of Geneva around 2005. He holds a Bachelor’s and an MBA in Finance from HEC Lausanne.
5. Hosam Arab
Hosam Arab is the co-founder and CEO of Tabby, a leading buy now, pay later (BNPL) platform in the Middle East.
Launched in 2019, Tabby has rapidly grown to become one of the region’s most successful fintech startups. Recently, Tabby secured a $700 million venture capital round, and is not valued at $1.5 billion.
Tabby has revolutionized the online shopping experience by offering interest-free installment payment options to consumers. His innovative approach has not only transformed the e-commerce landscape in the UAE but also contributed significantly to the growth of the country’s fintech sector.
6. Nasser Al Shaali
Naser Al Shaali serves as the CEO of Emirates NBD, one of the largest banking groups in the Middle East.
Al Shaali has been instrumental in driving the bank’s innovation initiatives, including the development of digital banking services and fintech partnerships. His efforts have not only enhanced Emirates NBD’s competitiveness but also contributed to Dubai’s status as a global financial hub.
7. Vitaliy Chiryassov
Vitaliy Chiryassov is a prominent entrepreneur in the UAE business consulting and technology sectors. Chiryassov co-founded and leads UPPERCASE, a successful business consulting firm that has helped over 1,000 clients establish their presence in the UAE.
Building on this expertise, Chiryassov founded UPPERSETUP — an innovative business setup and management platform. UPPERSETUP leverages AI and automation to transform business consulting in the UAE, make it more accessible and transparent.
By making it easier to set up and run businesses in the UAE, Chiryassov’s ventures have helped attract thousands of entrepreneurs to the country, contributing to the Emirates’ overall economy. His recent work with UPPERSETUP exemplifies the UAE’s drive to bring innovation to more traditional sectors that are typically stuck in the past.
8. Abhishek Shah
Abhishek Shah is the founder and CEO of RSA Global, a tech-enabled third-party logistics company based in Dubai.
Established in 2009, RSA Global has grown significantly under Shah’s leadership, becoming a key player in the region’s logistics sector. The company’s innovative approach combines traditional logistics services with cutting-edge technology and offers tailored supply chain solutions to businesses.
Shah’s work has helped modernize the UAE’s logistics infrastructure. His success with RSA Global has not only improved supply chain efficiencies in the region but also supported the UAE’s economic diversification.
Conclusions
This is far from the full list, and we’re sure that over time it will expand and grow. Every year, new progressive thinkers and innovators emerge in the UAE. These are the people whose innovative ideas drive the economy forward and, most importantly, make the UAE a better place to live and work in.
