Abu Dhabi: Dubai-based Indian billionaire businessman Mukesh (Micky) Jagtiani has passed away on Friday. He was 70.
Jagtiani is survived by his wife and three children.
“The Landmark Group today announced that its eminent Founder and Chairman, Mukesh “Micky” Jagtiani, has passed away peacefully, surrounded by his loving family,” the company said in an emailed statement, Reuters reported.
Dubai Crown Prince mourns the loss of Micky Jagtiani
Dubai Crown Prince Sheikh Hamdan bin Mohammed took to Twitter and wrote, “Today, we mourn the loss of Micky Jagtiani, the founder of Landmark Group and a integral part of Dubai’s success story. His philanthropic legacy and contributions to the UAE’s economy and society over the last three decades will be remembered forever. We extend our hearfelt condolences.”
“Today Dubai lost a man who was a key player in the retail and real estate industry. Micky Jagtiani the founder of land mark group have passed away,” tweeted Emirati businessman Majid Saif Al Ghurair.
“Deeply saddened to hear about the demise of stalwart businessman Micky Jagtiani, the Founder of Landmark Group. He was a visionary businessman who built Landmark Group into one of the most successful retail conglomerates in the MENA region. May God bless his soul,” Dr Azad Moopen tweeted.
According to Forbes, Jagtiani drove a taxi in London before moving to Bahrain and started a baby products store in 1973.
He founded the Landmark Group in 1973 with a single store in Bahrain and led its expansion into one of the largest retail and hospitality groups in the Middle East, Africa and India.
The group, which is chaired by his wife, Renuka Jagtiani, operates more than 2,200 outlets, covering more than 2.7 million square meters in 21 countries.
It has more than 50,000 employees working across the company’s brands, including Centrepoint, Babyshop, Splash, Lifestyle, Home Centre, Shoemart and Emax.
Earlier this year, he was ranked 511th in the 37th annual Forbes list of the world’s billionaires, with a net worth of 5.2 billion dollars.
