Observing: Journey Re-enacted by Egyptian Business Tycoon Who Established Base in UAE Six Decades Ago
In the heart of Dubai, one of the city's most influential figures, Farouk Mohamed, has left an indelible mark on the business landscape. Mohamed, a pioneering Egyptian expat who arrived in the UAE in 1963, has spent decades shaping the country's economic growth, particularly through his leadership at Grant Thornton UAE.
Mohamed joined Grant Thornton International in 1981, marking the beginning of a transformative era for the firm. Under his guidance, Grant Thornton UAE experienced significant early growth, becoming a leading assurance, tax, and advisory services provider within the UAE. The firm's reputation for expertise and close partner involvement added true value beyond standard audits, setting it apart from competitors.
Mohamed's strategic approach focused on leveraging local and regional knowledge, as well as the firm's global network, to provide client-centric services. This strategy facilitated expansion not only within the UAE but also into adjacent markets such as Azerbaijan, where the local office operates as a subsidiary under Grant Thornton UAE leadership.
The firm's growth under Mohamed's leadership was foundational to Grant Thornton's establishment and reputation in the UAE. Today, the company boasts a staff strength of over 500 employees, with the head office in One Central, Dubai, covering 30,000 sqft and branches in Abu Dhabi and Sharjah.
Mohamed's impact extends beyond the business world. In 2021, he was awarded the Fakhr Al Arab Honor for Excellence, and he is also a recipient of a UAE gold visa. His fondest memory, however, is witnessing the formation of the UAE and the strides made by the great founding fathers, the late Sheikh Zayed bin Sultan Al Nahyan and the late Sheikh Rashid bin Saeed Al Maktoum.
Mohamed's son, Hisham Farouk, joined the company 25 years ago and has been instrumental in its current growth. Together, they continue to play a significant role in the UAE's economic development, recently being part of the UAE delegation that celebrated the 50th anniversary of the main ties between the UAE and Egypt.
As we celebrate Grant Thornton UAE's 55 years in the UAE, it's clear that Farouk Mohamed's leadership has been instrumental in establishing a strong regional platform and driving the growth of numerous household companies, which until today are the drivers of the country's growth. His legacy continues to shape the future of business in the UAE.
References: [1] Business Standard, Grant Thornton UAE: A Journey of Success and Growth, https://www.business-standard.com/article/international/grant-thornton-uae-a-journey-of-success-and-growth-119070100179_1.html
- Farouk Mohamed's leadership at Grant Thornton UAE has not only transformed the business but also extended to education, where he was awarded the Fakhr Al Arab Honor for Excellence.
- Within the UAE's finance industry, Mohamed's strategic approach at Grant Thornton UAE led to significant growth, expanding the firm's reach into adjacent markets like Azerbaijan.
- In addition to shaping the local business landscape, Mohamed's role in the growth of Grant Thornton UAE has greatly contributed to the overall economic development of the UAE, aiding in the growth of numerous household companies within multiple industries.
