Al Haramain Group’s investment exceeds Dh1 billion in the UAE as it expands its business globally…..

Traditional Arabic Perfumes are gaining global acceptance due to durability and health benefits, says Mahtabur Rahman, Al Haramain Group Chairman

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

Date: Dubai, UAE, April 25, 2022

News Highlights

  1. Al Haramain Group has invested more than Dh1 billion in the UAE economy so far;
  • It has a workforce of 3,000 professionals working in 100 showrooms in 12 countries including 1,200 deployed in three factories in the UAE;
  • Al Haramain Perfumes produces 1,300 types of perfumes and cosmetics products that are marketed and sold in 65 countries;
  • Al Haramain Perfumes has exported perfumes, body spray, cosmetics and personal care products in 3,600 containers in 2021 – despite the COVID-19 pandemic.

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.

Ends

Picture Caption: Mohammad Mahtabur Rahman, Chairman of Al Haramain Perfumes Group, Chairman of NRB Bank and President of Bangladesh Business Council in Dubai.

Editors’ Notes

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.

Brief Biography of Mr Mahtabur Rahman

Mohammed Mahtabur Rahman (Nasir), Chairman and Managing Director of Al Haramain Group of Companies, 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.

Al Haramain Group, which has diversified business interests in perfumes, tea, banking, education and healthcare, 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.

Mahtabur Rahman is also a seasoned banker, having been associated with a number of financial institutions, he later became chairman of NRB Bank – one of the three lenders allocated for Non-Resident Bangladeshis (NRBs).

He and his family members are shareholders in a number of financial institutions. His group owns Al Haramain Perfumes, one of the largest oriental fragrance manufacturers in the Gulf, Al Haramain Tea Co Ltd and Al Haramain Hospital Pvt Ltd.

He was ranked the top Commercially Important Person (CIP) for five consecutive years 2012,2013, 2014, 2015 and 2016 by the Government of Bangladesh.

He was also awarded the prestigious Bangladesh Bank Remittance Award consecutively for 5 years 2013, 2014, 2015, 2016 and 2017 in recognition of his highest remittance/investment into Bangladesh.

Besides, he is associated with a number of business entities, including NRB Bank, Al Arafah Islami Bank Ltd, University of Asia Pacific and Beani Bazar Cancer Hospital, to name a few.

He has also delivered 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. The 12-storey hospital installed with ultra-modern medical/diagnostic equipment. He is the Chairman of the hospital.

From a very modest beginning, Rahman has today emerged as one of the most successful Bangladeshi entrepreneurs globally. His road to success is a source of inspiration to many NRBs especially the younger generation engaged in business. His remarkable achievements could be attributed to his vision, hard work, carefully planned strategy, realistic targets and proper management at every stage.

Hailing from a traditional family in Sylhet, Bangladesh, Mahtabur Rahman was born in 1958 and completed his education in Sylhet city. After that, he joined his family business in Saudi Arabia, which was running well in the holly city of Makkah since 1970.

Rahman learned the techniques of his family business from his father Kazi Abdul Haque and mastered himself in the field of fragrance. He had a vision to develop, explore and expand his family business from Makkah to new destinations. As the fragrance business was booming, Mahtabur Rahman opened their first showroom in Dubai in 1981.

“I first experienced the UAE hospitality when I landed in Dubai as a transit passenger from Dhaka, flying to Saudi Arabia in the late 1970s. It was a short trip, but I enjoyed some golden moments in the emirate and decided to establish my future business here,” he recalls.

“Although I was a transit passenger, I took a good look at the market to expand the business. I had just joined the business in Makkah. We started as a small shop, selling oriental perfumes and agarwood, sourced from the north-eastern part of Bangladesh, Sylhet district, where my family comes from.

“By 1980, I had visited Dubai a few times and developed a better idea about the business environment. In 1981, I decided to open a shop in Dubai to expand our business in the UAE.

“So, we found a shop in Murshid Bazaar and set up the business, including a packaging unit where we also had started processing the perfumes. We found the UAE a very good place to do business in those days.”

After foreseeing the potential Fragrance Markets in the GCC and the Middle East and North Africa region, he moved his entire operation and manufacturing units to the UAE and built the modern and well-equipped Head Office fitted with ORACLE-ERP Server in an area of 33,000 square feet and also established a factory in the UAE over an area of around 180,000 square feet, which grew into a state-of-the-art manufacturing unit. 

“In the UAE, the business environment was dominated largely by demand and supply with less regulation that allowed people a greater degree of freedom. Because the leadership of the UAE was very business friendly and honest, most businessmen remained honest in their dealings and intention,” he says.

“We never saw people misuse freedom or cheat others – that was the beauty of doing business in the UAE. Besides, good air and sea connectivity has helped us import raw materials, process perfumes and export them in shortest possible time.

“So, we decided to shift our business base in the UAE in the early 1980s. In 1982, we set up our Agarwood processing Attar manufacturing plant in Ajman. This helped us reduce costs as well as multiply output. Due to quality of our products, our reputation started to spread and our sales started to pick up. We then started to add new retail outlets.

“It was around 1992-93, that I was looking for a piece of land to develop a perfume factory. Luckily, I was offered the land by His Highness Shaikh Humaid bin Rashid Al Nuaimi, Member of the Supreme Council and Ruler of Ajman, in the new industrial area in Ajman. I found the place empty with nothing but sand.

“We continued to grow our business and it kept multiplying every few years. We have so far invested more than Dh100 million in our factory in Ajman. Today, we produce enough perfumes to penetrate over 60 countries across the world with three good brands – Al Haramain, Al Halal and R&R Perfumes – that cater to a wide diverse customer base and different tastes.”

The highly quality conscious Al Haramain Perfumes, has been accredited with dual ISO Certificates in QMS (ISO 9001:2015) and GMP (ISO 22716: 2007). Now, 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.

“I never ever took loan from banks inside Bangladesh or overseas ones,” he says. “I invested my hard-earned money generated from my international business in to Bangladesh to create institutions to support our communities – to educate them, offer them quality healthcare and create employment opportunities inside the country and increase productivity.”

Mahtabur Rahman admits that throughout his life many of his impressive and remarkable achievements were attributed to his ultimate vision of giving back to the community as well as working hard  that is based on a well-executed planned strategy in line with realistically achievable targets based on effective management at each and every stage.

In 2011, he founded Bangladesh Business Council in Dubai – the only registered business group for Bangladeshi business community to help strengthen bilateral economic relations between Bangladesh and the UAE.

In 2012, Mahtabur Rahman joined an elite group of NRB investors to set up the NRB Bank – the first of its kind lender in Bangladeshi economy – that is a bank by the NRBs, of the NRBs and for the NRBs.

In 2014, the International University of Morality conferred upon him an Honorary Doctor of Philosophy (PhD) in World Peace and Morality Business Administration in recognition of his contribution to business and economic activities.

A benevolent donor, he supports educational and charitable institutions in Bangladesh. By his own initiatives, in Bangladesh and outside the country, he constructed and built innumerable institutions, enterprises and ventures that flourishing both in Bangladesh and outside the country creating a lot jobs to the job-seekers and rehabilitate the jobless thousands of youths. 

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