Al Fahim's Personal Wealth

One of the questions we are often asked is 'How rich is Al Fahim'? Of course, the exact figure is closely guarded but recently two interesting pieces of information became available.

Firstly, Al Fahim failed to make the list of 50 Richest Arabs produced by the respected Arabian Business. The 'poorest' person on this list has £1.1bn (£671m) of personal wealth.

Secondly, information about the size of Hydra was issued.

Al Fahim's wealth comes almost exclusively from Hydra. His rise from an unknown to an influential figurehead at Hydra was quite astounding. He had few business interests prior to the creation of Hydra in 2006. Al Fahim's coup was his ability to convince the Royal Group (owned by the UAE Royal Family) to invest in his property vision. Royal own 100 per cent of the shares in Hydra - Al Fahim receives a salary and a bonus (based on performance and project completion). The size of Hydra's book has also remained somewhat guarded until a recent Press Release, sanctioned by Al Fahim, was released.

An IIMSAM Press Release on 1 July confirmed that Hydra had managed to accumulate total projects worth $2bn. This is a huge amount considering the the Hydra business started from scratch in 2006. How much of this $2bn will have been received by Al Fahim is a subject of conjecture. However, it is understood Hydra's business plan has a projected 30 per cent profit margin for its developments. Royal Group would have been set to make $600m profit from Hydra (£366m) on completion of all projects.

However, Hydra's struggles are well documented and not a single development has been fully completed. To date no 'completion bonuses' have not yet been paid to Hydra employees.

Al Fahim's personal wealth is unclear - however despite his personal trappings of dripping wealth, it Al Fahim's personal wealth is not all it appears.