Early Life
Kabir Mulchandani was born in Mumbai, India, on October 6, 1972. He attended Phillips Exeter Academy and later Stanford University. He worked for his family's consumer electronics business before moving to Dubai in the early 2000s, where he invested in real estate.
Rise to Success
Mulchandani founded FIVE Holdings (originally SKAI Holdings) in 2011, a Dubai-based real estate firm. FIVE Holdings owns and operates luxury hotels and resorts, including FIVE Palm Jumeirah, FIVE Jumeirah Village in Dubai, and FIVE Zurich in Switzerland. In November 2023, FIVE Holdings acquired The Pacha Group, which owns hotels and nightclubs, for $330 million. He plans to take FIVE Holdings public on the Dubai stock exchange in 2025. In 2009, Mulchandani was arrested in Dubai for real estate fraud, but he was cleared in 2010.
Key Business Strategies
Mulchandani's key business strategies involve developing luxury properties with innovative concepts. The FIVE Palm Jumeirah is a renowned property in Dubai, and the company focuses on sustainability. His approach includes a people-first culture and recognizing the importance of public perception in the hospitality industry.
Philanthropy
Mulchandani is an active philanthropist, with initiatives like Project Udaan, which funds pediatric heart surgeries, and support for surgeries for facial deformities. He was recognized as the Philanthropist of the Year by CEO Middle East. Mulchandani's philanthropic contributions include over $1.8 million to local and global partnerships.