Mulchandani is the businessman behind the famous real Estate company called SKAI holding in 2011 which changed its name to FIVE holding in 2017. He is of Indian origin but currently resides in Dubai with his wife and four children. After graduating as an Industrial Engineer from Stanford University and Phillips Exeter Academy in the U.S, he took a marketing job at Baron International and its Electronics department in Mumbai. He was born in October 6, 1972 and as 2021 aged 48 years. A look into his family background reveals his mother is Shakun Mulchandani while his father is J.R. Mulchandani.
In 2009 Mulchandani was arrested and subsequently detained for 140 days behind bars on a controversial case of real estate fraud and funds embezzlement. His journey as a realtor in Dubai began during his 2-day free stay offered by Emirates Airlines. Right from his hotel room’s window, the inspiration came when he looked out and saw building construction projects springing up all over the places. Tempted to give it a shot even with no prior experience in the business, he bought a four-storey building property, listed and sold it off within months of purchasing it for a 20% profit. That gain must have signaled better days ahead for Kabir and he decided to make a career out of it.
Kabir Mulchandani Net worth
The CEO of one of the leading realtor companies in the UAE, Kabir Mulchandani has acquired over AED 30 billion worth of real estate investments in Dubai since venturing into the world of Arabian business. In June 2013, the firm entered into a branding and management contract with Los Angeles based hotel management company, Viceroy for the project Palm Jumeirah Dubai hotel, an AED 3.6 billion hotel and furnished residences which got completed towards the end of 2016.
Having reviewed Kabir’s official financial footprints before and after prison comeback to date, we put his estimated net worth at $9.5 billion. The actual value may differ in real-life.
Kabir Mulchandani house
His first firm operated under the name, Dynasty Zarooni founded along with Hilal Al Zarooni Group. But when the company’s image was tainted as a result of the bounced cheques scandal and after subsequently being acquitted of all charges, he launched SKAI Holding in 2011 which later got renamed to Five Holdings and now managed by Kabir’s second wife, Nadia Zaal. Since then, he has forwent his air-conditioned office in Downtown Dubai, built his $1.2 billion USD flagship hotel at Palm Jumeirah and a hospitality Jumeirah Village Circle in 2018.
Kabir Mulchandani wife
When Mulchandani came back from prison, he divorced his first wife, Romila Shroff. In what seemed like destiny between the two developers, fate connected Kabir to Emirati developer, Nadia Zaal who became his second wife and the union has produced Four children since marriage.