Gargash Group: A century of innovation and adaptation in the UAE

For more than 100 years, Gargash Group has moved in lockstep with the UAE’s economic ascent, from the country’s early trading economy to today’s globally integrated, innovation-driven marketplace.

Few family-owned enterprises have demonstrated the same capacity for longevity, diversification and institutional relevance across multiple economic cycles. Under the leadership of Shehab Gargash, Managing Director and Group CEO, it has not only preserved its heritage but accelerated its transformation into a future-ready enterprise spanning automotive, mobility, real estate, fintech and more.

From shaping the nation’s automotive retail ecosystem to building one of its earliest home-grown investment platforms, Gargash’s footprint reflects a philosophy that blends disciplined execution with calibrated risk-taking – qualities that underpin enduring leadership in emerging markets.

Seated in his modern office at the Mercedes-Benz Brand Center in Dubai Design District, Shehab projects a picture of elegance, grace and unmistakable confidence. On the table before him rests a collection of vintage miniature cars, a symbol of a legacy that began in mobility and continues to evolve.

Over the UAE National Day holidays, he participated in the annual 4th Mille Miglia Vintage Car Rally, a precision-based tour that covers all seven emirates. “The rally is not about speed,” he says. “It’s about discipline, accuracy and consistency, executing well at every stage.”

It is an analogy that mirrors his approach to leadership.

Founded in 1918, Gargash Group has grown from its trading origins into one of the UAE’s most respected diversified business groups. Today, its portfolio spans automotive distribution for leading global brands, mobility services, real estate development and financial investments. Yet for Shehab, legacy is not a protective shield. Diversifying, he believes, is crucial. “Legacy is a starting point. What keeps you relevant is reinvention. If you don’t evolve, you get left behind.”

Born in 1966 into a family of entrepreneurs, Shehab witnessed first-hand how businesses must adapt to survive. “Growing up, I learned that nothing stays constant in the UAE,” he says. “This country reinvents itself every few years, and that’s a lesson for all of us.”

The UAE naturally drives growth and innovation, he says. “Operating here becomes a defining characteristic for any successful business because the pace of the country leaves no room for stagnation. You have to evolve as fast as the nation progresses. That momentum creates healthy pressure, and the companies that thrive are the ones that keep up with the country’s rhythm and tempo.”

That worldview shaped his academic and strategic foundation. After completing a BBA and MBA at George Washington University in the US, he returned to Dubai convinced that the next phase of economic growth would be capital-driven and institutionally structured.

Before assuming senior leadership within the Gargash Group, Shehab spent 12 years in banking, a period that refined his understanding of capital allocation, governance and market risk. In 1998, he founded Daman Investments, one of the UAE’s earliest indigenous non-banking financial services firms.

“At that time, the idea of a locally built investment platform was still untested,” he recalls. “But I believed the UAE was mature enough to support it.”

Daman navigated global crises and regulatory evolution and emerged as a respected regional investment house. Shehab continues to serve as its Founder and Chairman alongside his group leadership responsibilities and multiple board positions.

At Gargash Group, Shehab has been at the helm of sweeping modernisation efforts. “The automotive industry is in the midst of its biggest shift since the invention of the car,” he explains. “Electrification, autonomous driving, digital retail… these aren’t trends. They’re irreversible changes.”

How does a century-old company keep up? With humility, he replies. “You don’t fight the future. You embrace it. The key is to recognise that what made you successful in the past won’t necessarily make you successful tomorrow.”

The company’s guiding principle, he says, has always been to offer customers what they want and value, and to keep evolving with them. “We see the customer relationship as a long-term journey, not a single transaction. That means supporting them at every stage; not just selling a product, but being there when something needs fixing, replacing, or upgrading. This approach has been at the core of Gargash, and we take pride in the fact that many of our earliest customers are still with us today.”

He points to his company’s approach to digital retailing, aftersales excellence, and customer experience – areas he believes define the next chapter of automotive success.

Even while pushing for digitalisation, Shehab is committed to ensuring that the group retains its human touch. “Technology is essential, but relationships are irreplaceable. We’ve built trust over generations; that’s our real capital.”

Managing a diversified enterprise requires more than operational excellence. It demands alignment at the governance level, which Shehab views as mission-critical. “There are two layers of leadership,” he explains. “One is the performance of each business unit. The second is ensuring strategic coherence across the group, making sure every vertical strengthens the other.”

This alignment enables capital, talent and knowledge to circulate across businesses rather than remain siloed. “Any single unit can only grow to a certain point on its own,” he explains. “Real expansion happens when you leverage the knowledge, strengths and momentum of one area across others.” It’s a lesson for aspiring leaders: True scale doesn’t come from size alone. It comes from integration.

As a leader, what does it take to maintain cohesion across a multi-sector organisation without compromising the identity of each business unit? “Integrity,” says Shehab. “Equally important is alignment because each part of the business tends to focus on its own priorities, and that coordination must be deliberately maintained.

“Another key element is ensuring people enjoy coming to work. At every level, employees should feel a sense of purpose. When individuals can see the positive impact of their contribution, they feel ownership, pride and a connection to the overall success.”

The business leader admits there could be challenges when leading a group through key phases of transition.

“For a legacy organisation, the challenge is greater because one inherits years of habits, good and bad, all woven into the system,” he says. “The key is to keep innovating, taking informed risks and making calculated decisions that strengthen performance.

“There is no single aha moment. You continuously define and redefine your mission, goals and priorities, while monitoring outcomes closely. Sometimes an initiative doesn’t deliver as expected, and you must decide whether to persist, adjust or cut your losses. These decisions are ongoing and part of the natural rhythm of leadership.”

Under his stewardship, Gargash Group has grown an impressive threefold in eight years, a rare achievement for a mature enterprise. He attributes this to disciplined execution combined with an enabling national ecosystem. “The UAE rewards those who think long term and act decisively.”

Having witnessed the nation’s evolution over five decades, Shehab speaks of the UAE’s future with conviction. He believes the next decade will be defined by sustainability, advanced mobility, financial innovation and entrepreneurship. “The opportunity set is enormous, but only for businesses that are adaptive, compliant and globally benchmarked.”

He credits the UAE leadership for establishing an environment where private enterprise can become a genuine partner in national growth. “Here, the private sector is not a bystander. It is a participant in nation-building.”

For Shehab Gargash, leadership is not about guarding the past, but mobilising it for the future. Under his direction, Gargash Group stands as a case study in how legacy enterprises can remain economically dominant in a disruption-driven era.

– In association with Gargash Group