Kabir Mulchandani is the owner of Dubai-based real estate firm FIVE Holdings, which owns luxury party hotels and resorts in the Middle East, Spain, and Switzerland. He founded the firm in 2011 and plans to take it public on the Dubai stock exchange in 2025. Born and raised in Mumbai, India, Mulchandani worked for his family's consumer electronics business before moving to Dubai in the early 2000s and investing in real estate. FIVE Holdings acquired Pacha Group, which owns hotels and nightclubs in Ibiza, Spain, for $330 million in November 2023.