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Sulaiman Abdul Kareem Mohammad Al-Fahim (Template:Lang-ar) (born 1977 in Dubai, United Arab Emirates) is the current Chairman and President of the Arab Union for Real Estate Development and Goodwill Ambassador to the Intergovernmental Institution for the use of Micro-algae Spirulina Against Malnutrition, IIMSAM in support of the United Nations Millennium Development Goals as a a Permanent Observer to the United Nations Economic and Social Council , located at the United Nations Headquarters, in New York City. Al-Fahim is a 10% shareholder and non-executive Chairman of English football club Portsmouth, which plays in the Premier League, having sold a 90% share to Ali Al-Faraj in October 2009, after 40 days as the full owner.

In 2009 Sulaiman Al Fahim was ranked No. 4 on Arabian Business magazine’s “Power 100: The World’s most influential Arabs” .

Early life

Al-Fahim was born in Dubai in 1977. From the age of eleven he worked in his father's Orient Pharmacy after school. At the age eighteen he founded the "Sulaiman Al Fahim Group" which financed education and sports in the UAE. In 1998, when he was 21, he was left orphaned after his parents and younger brother were killed in a road traffic accident near Dubai Airport. Following this loss he moved to the United States. There Al-Fahim received his MBA in Finance and Real Estate from Kogod School of Business of the American University in Washington DC.

Education

While Al-Fahim has made it clear he prefers the honorific "Dr." in deference to his "Ph.D. in real estate investment", investigation by the New York Times has found that he has never received a Ph.D., and that the degree itself is not offered by the university in question. A lawyer speaking for Al-Fahim has stated that he received two M.B.A.'s, without addressing his use of the "Dr." honorific.

Arab Union for Real Estate Development

During the Spring of 2009, Al Fahim was chosen from the leading real estate figures in the Arab world and named President of The Arab Union for Real Estate Development (AURD). This is the first trade association of its kind for the region's real estate industry, encompassing 22 Arab countries. AURD is affiliated with the Arab League, Council of Arab Economic Unity, and ICREA (International Consortium of Real Estate Associations).

In 2009 it has been reported that Al Fahim has been meeting with US officials, such as Senator Harry Reid, to discuss his ambitious plans to provide green sustainability to low- and middle-income families . Al Fahim has stated that "Green does not have to mean expensive. It can be affordable." He is currently focused on expanding this project in both Puerto Rico and New York City to include a green hospital and green affordable housing for the construction and development workers. Besides using green construction materials, Al Fahim also plans to grow spirulina (algae) on site and use it as a bio fuel to run the hospitals. Sulaiman summarized: "We are combining healthcare and housing in the same development. It's not just real estate: it's community." Ultimately Al Fahim believes that joint green affordable housing initiatives between the Arab world and the United States could create mutual economic benefit and common goals that establish long lasting cultural understanding.

On November 17, 2009, Roll Call printed an op-ed by Al-Fahim supporting President Obama's approach to engaging the Middle East.

Hydra Properties

Al-Fahim was CEO of Hydra Properties, a United Arab Emirates real estate company he founded in 2005. Current projects include Al Reem Island; Mazatlan, Mexico; Abu Dhabi and Dubai. Some investors who bought real estate developed by Hydra Properties have accused the company of unethical behaviour because it had altered the details of plans and increased the price of homes in a time of falling house prices and construction costs. There are also concerns from buyers of off-plan property with Hydra Properties regarding the lack of progress on site of the flagship development, Hydra Village. While 2500 villas are supposed to be handed over in 2009, construction progress has been virtually non-existent. These price increases were defended by Hydra as operating both within the law and within the signed investor contracts. Hydra stressed that investors were kept fully informed of project improvements at all times since they signed their contracts . It has also been stated by some experts to reflect largely on the Real Estate “bubble burst” found around the world and on a very large scale in Dubai in particular .

Al Fahim became chairman of the Arab Union for Real Estate Development in March 2009, and in June was replaced as CEO for Hydra Properties by Ali bin Sulayem, who was commercial director for the parent company Royal Group. Following his replacement, Al Fahim was appointed to Hydra's board of directors .

Hydra Executives

Al-Fahim is the founder and host of the business themed reality television show Hydra Executives which was launched in Spring 2008. Al-Fahim has often been referred to as an Abu Dhabi version of Donald Trump..

Sport

A keen chess player, Al-Fahim represented his country as a youth and is currently president of the UAE Chess Association, also claiming to have been ranked fifth in the world in his age group at the age of nine. In June 2008, Al Fahim was elected as a new president of UAE Chess Federation for 2008–2012. Through his company Hydra Properties he is involved in sponsorship of Dubai sports television, a Costa Rican soccer team and the German Bundesliga. Al-Fahim is a fan of the football clubs Al Ain and Al Jazeera, and is building a new football academy in Abu Dhabi with Italian football giants Internazionale.

Manchester City

On 1 September 2008 the Abu Dhabi United Group, of which Al-Fahim is a board member, agreed the take over of Premier League football club Manchester City. The deal was signed at the Emirates Palace Hotel in the presence of Al-Fahim, who represented ADUG. Within hours of the take over deal being finalized, ADUG financed the purchase of Robinho for a British transfer record of £32.5 million. Al-Fahim was widely believed to be the new owner and potential chairman for the club, and made bold statements about his plans to "solve all the club problems". He was outspoken about his ambition to " the best football players in the world", and stated that he was "prepared to make a £134 million bid for Cristiano Ronaldo during the January transfer window." However, before the take over was completed, wealthy backer Mansour bin Zayed Al Nahyan became a more prominent figure, and it became unclear whether Al-Fahim would join the board at Manchester City; Khaldoon Al Mubarak was appointed as the clubs new chairman. In March 2009, it was mistakenly reported by Sport that Al-Fahim was a board member at the club, causing Manchester City to clarify that he did not hold a position.

Portsmouth

On 27 May 2009, it was reported that Al-Fahim had signed a deal to take over the English Premier League club Portsmouth. Owner Alexandre Gaydamak agreed a price of around £60 million, with the deal proposed to be completed by 28 July 2009. On 13 July the club's website said that the due diligence part of the deal had been completed, Al-Fahim Asia Associates were conducting their final commercial assessment, and that a formal application for the "Fit and Proper Persons" test to the Premier League had been submitted. On 21 July, it was confirmed that Al-Fahim had passed the test and that an agreement in principle had been reached to sell the club with Al-Fahim joining the board as chairman. On 29 July, BBC Sport reported that the sales and purchase agreement needed to be finalised to close the transaction. However, on 19 August, the club's website revealed that a new consortium led by the current club CEO Peter Storrie was negotiating over the purchase of the team, and that Al-Fahim may be a partner in the new consortium. On 26 August 2009 The News, confirmed that Sulaiman Al-Fahim was the new owner of Portsmouth F.C. having full control of the club. On 2 October 2009, it was reported by BBC Sport that Al-Fahim was in hospital in Dubai, with kidney stones. On 5 October 2009, just over 40 days after purchasing the club, Al-Fahim sold 90 percent of his stake in Portsmouth to Ali al-Faraj and his business Falcondrone Ltd. As part of the deal Al-Fahim became non-executive chairman at the club until the end of the 2010–11 season. In an interview on 16 October 2009, Al-Fahim stated that it had been a good investment as he had sold 90 percent of the shares for £70 million and retained all of the club's real estate assets. In a previous interview with Arabian Business, Al Fahim contradicted this statement by claiming he sold Portsmouth for zero pounds.

Charity work

In December 2008, Al-Fahim was appointed Goodwill Ambassador to the Intergovernmental Institution for the use of Micro-algae Spirulina Against Malnutrition, IIMSAM in support of the United Nations Millennium Development Goals as a Permanent Observer to the United Nations Economic and Social Council , located at the United Nations Headquarters, in New York City. As Goodwill Ambassador Al Fahim encourages the use of Spirulina to eradicate malnutrition. As part of this Al-Fahim and his wife launched a charity in Kenya called Dar al Mumineen, where they have sponsored and looked after the medical needs of a few thousand children.

At one point some controversy followed Al Fahim when, according to an article in the UK's Daily Mail, the United Nations denied endorsing as the United Nations deny endorsing IIMSAM as one of their sanctioned organizations. IIMSAM is listed as a Permanent Observer to the United Nations Economic and Social Council so this speculation may be unwarranted. A number of official UN sources validate IIMSAM's credibility. The goal of IIMSAM is "to help create a world that is free of malnutrition and hunger." It was organized to support the United Nations Millennium Development Goals. Specifically, IIMSAM "aims to mainstream the use of Spirulina to eradicate malnutrition, achieve food security, and bridge the health divide with a special priority for the developing and the least developed countries."

References

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44. http://www.un.org/News/Press/docs/2008/ecosoc6334.doc.htm

• 1977 births
• Living people
• American University alumni
• United Arab Emirati businesspeople
• Businesspeople in real estate
• English football chairmen and investors