Dr. Fawaz Abdulaziz Alhokair, a distinguished Saudi businessman, holds a PhD in Economics and Accounting from Loughborough University, UK, earned in 2008, and a Bachelor’s degree in the same field from the same university in 1989.
Building an Empire
In 1989, Fawaz Alhokair co-founded Fawaz Abdulaziz Alhokair Group alongside his brothers, starting with just two men’s clothing stores. Today,
the company operates 19 shopping centers across Saudi Arabia and holds exclusive franchise rights for some of the world’s most renowned fashion brands, including Zara, Banana Republic, GAP, Topshop, and Nine West.
The group has expanded significantly, now managing 2,100 stores across 100 shopping centers in 17 countries, covering over 600,000 square meters of retail space.
With a workforce of 12,000 employees, the company represents over 116 fashion brands, spanning men’s, women’s, children’s, and infant apparel, footwear, accessories, cosmetics, entertainment products, and more.
Expanding Beyond Fashion: Real Estate and Retail Giants
Beyond the fashion industry, Fawaz Alhokair ventured into real estate, founding Al Makan Arabia in 2002, which now operates 19 shopping malls across Saudi Arabia.
His business empire extends to Egypt, where he launched Al Makan Egypt for Real Estate Development, which owns Mall of Arabia in 6th of October City, one of the largest shopping centers in the country, inaugurated in December 2010.
Leadership Roles & Board Memberships
Alhokair has held several prestigious leadership positions, including:
- Chairman of Fawaz Abdulaziz Alhokair Group since August 17, 2020
- Chairman of Al Makan Arabia (Saudi Real Estate Division) & Al Makan Egypt since 2007
- Chairman of Tab Saudi Arabia (Healthcare Sector) since 2007
- Chairman of FAS Holding Saudi Arabia & Real Estate Investment Centers since 2007
Additionally, he has served as a board member and director in numerous companies, including:
- Al Riyadh Sports Foundation (since 1991)
- Al Fareeda Real Estate (since 2005)
- Al Fareeda IT Solutions (since 2007)
- FAS Construction (since 2006)
- Arabian Falcons Ltd. (since 2007)
- Fox Hospitality (since 2007)
- Al Azizah Panda United (since 2012)
He was also the Chairman of Alhokair & Co. (2006–2017) and played key roles in various real estate, insurance, and retail companies across Saudi Arabia, the UAE, Denmark, and Scandinavia.
A Billionaire’s Real Estate Investments
On June 28, 2021, Fawaz Alhokair made headlines when he listed his luxurious New York penthouse overlooking Central Park for $170 million—double the price he had paid for it in 2016.
If sold at the asking price, it would rank among the most expensive real estate sales in U.S. history, according to The Wall Street Journal.
Alhokair originally purchased the penthouse in 2016 for $87.7 million, at a rate of $10,623 per square foot, during a time when his net worth was estimated at $1.37 billion, and his company’s valuation stood at $22 billion.
A Glimpse into His Extravagant Penthouse
Located on the 96th floor of the iconic 432 Park Avenue, once the tallest residential building in the Western Hemisphere, the penthouse boasts:
- Six luxurious bedrooms and seven bathrooms
- A dining room featuring an onyx table seating 12, illuminated by a massive chandelier
- A grand piano set against floor-to-ceiling windows overlooking New York City
- A private study with a fireplace
- Separate dressing rooms connected to the master bedroom
- A marble-clad master bathroom with a freestanding soaking tub offering breathtaking water views
- Heated bathroom floors and custom-built wooden cabinetry
Adding to its opulence, the residence is adorned with high-end accessories from Louis Vuitton, Hermès, and Bentley. The state-of-the-art kitchen is equipped with the latest appliances, ensuring the ultimate luxury experience.
A Legacy of Success
From a modest clothing store to a multibillion-dollar global empire, Fawaz Alhokair has cemented his legacy as one of Saudi Arabia’s most influential businessmen. His vision, leadership,
and investment acumen continue to shape the retail and real estate landscape both regionally and internationally.
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