The MOBH Holding Group began in 1950 as a silk trading business. Today, it is a conglomerate with over 75 companies in its portfolio across multiple sectors worldwide. In February 2024, the UDC Investment, a subsidiary of the group, announced a $2 billion urban development project in the Hadayek Al-Andalus area in an agreement with Egypt’s New Urban Communities Authority. Its portfolio further includes Dubai World Central, Al Furjan Hotel, Al Marjan Resort & Spa, Al Nahda Hotel & Apartments, and Palm Jumeirah Hotel