Kabir Mulchandani
Kabir Mulchandani | |
|---|---|
| Born | 6 October 1972 Mumbai, India |
| Education | Stanford University, Phillips Exeter Academy |
| Occupations | Real estate and hospitality businessman, philanthropist |
| Spouse | Nadia Zaal |
Kabir Mulchandanu is an Indian-born real estate and hospitality businessman and philanthropist. He is the Chairman and Chief Executive of FIVE Holdings, which owns and operates luxury hotels along with The Pacha Group.[1]
Career
Mulchandani served at Baron International and Baron Electronics, two Mumbai-based, family-owned firms that specialised in the distribution and sale of consumer electronics.[2]
In 2011, he founded SKAI Holdings, a Dubai-based real estate investment firm.
In 2017, Mulchandani changed his company's name from SKAI to FIVE.[3]
In November 2021, Mulchandani and FIVE Holdings purchased the first ACJ TwoTwenty from Airbus and Comlux Group in Switzerland.[4][5][6] The 16-seat jet consists of a dining table for eight passengers, a master suite, and a kitchen, with a full crew on board.[6] The aircraft registered 9H-FIVE, to be pronounced "Nine-Hotel-FIVE" entered the market in May 2023.[7] Combining a bizjet with FIVE hospitality and entertainment.[6] In June 2023, The Guardian named the jet as a private "party jet".[8]
Personal life
In 2012, he married his second wife Nadia Zaal, one of the most influential Emirati women in the GCC, the couple have three sons and one daughter.[9]
Controversies
In 2009, during Dubai's financial crisis, investors alleged that Mulchandani had committed fraud as chairman of Dynasty Zarooni.[10][11] Mulchandani was initially arrested and held for 140 days before he was permitted to post bail.[12] At trial he was cleared of all criminal charges, and the court dismissed a civil case by Dynasty Zarooni's investors.[13] Mulchandani later said that he believed some investors had knowingly filed false claims in order to get out of debts that would soon come due. In a 2011 interview he said that he was considering filing his own claims both against those investors and against news outlets that printed statements that he called "defamatory".[12]
His legal battle with Viceroy over operator rights of the Palm Jumeirah hotel was highly publicized. Viceroy's termination took place on the same day Viceroy's UAE shareholders announced their plans to wholly own the company.[14]
References
- ↑ Al Sayegh, Hadeel; Maccioni, Federico (4 June 2025). "Dubai party hotel FIVE considers listing in London or New York". Reuters. Retrieved 17 August 2026.
{{cite web}}: CS1 maint: url-status (link) - ↑ "The rise and fall of 'Baron' Mulchandani - Economic Times". Archived from the original on 11 August 2014. Retrieved 16 June 2013.
- ↑ "SKAI Holdings changes name to Five Holdings".
- ↑ "First ACJ TwoTwenty cabin to be unveiled by Comlux and Five". Business Jet Interiors. 10 February 2023. Retrieved 18 May 2023.
- ↑ "FIVE Hotels' US$70m private jet is open for bookings".
- 1 2 3 "FIVE purchases the first Airbus ACJ TwoTwenty from Comlux". Arabian Business.
- ↑ "Dubai luxury hotel firm Five to take VIP A220 from Comlux". Flight Global. Retrieved 18 May 2023.
- ↑ Neate, Rupert (10 June 2023). "Disco then shower at 33,000ft: Dubai hotelier launches £10k-an-hour 'party jet'". The Guardian. ISSN 0261-3077. Retrieved 17 July 2023.
- ↑ "Nadia Zaal".
- ↑ Kerr, Simeon (11 January 2009). "Probe into Dubai $100m fraud allegations".
{{cite web}}: CS1 maint: url-status (link) - ↑ "Angry Investors Demand Investigation". Business Wire. 2009.
- 1 2 Hope, Bradley. "Exonerated Indian property tycoon rallies back". The National. Retrieved 18 August 2026.
- ↑ Mustafa, Awad. "Dynasty Zarooni chief and two associates acquitted of fraud". The National. Retrieved 18 August 2026.
- ↑ McAuley, Anthony (18 June 2017). "Mubadala Investment Company ready to buy remaining 50% in Viceroy Hotel Group". The National.