Moafaq Al Gaddah is the owner of the renowned MAG group. It is primarily operative in the UAE with expansion plans in the entire gulf region. However, the man behind this group, Moafaq Al Gaddah, had very humble beginnings. His story can be classified as a true rags to riches story. In order to truly understand how this individual achieved so much success in such a short span of time, we will analyze his life story and the lessons we can derive from it.
Moafaq Al Gaddah had a tough brought-up in Syria. At the age of 15 he moved to Kuwait, in one of his interviews he told that he always wanted to be an entrepreneur. He started working at a local souq (shop) in Kuwait and soon found out that he had the gift of selling products to people. He wasted no time in utilizing his talents. Like most of the entrepreneurs he started off by taking a bit of risk. He started work at an unlicensed kiosk, he used to buy clothes from a wholesale market and sold them to the shop’s customers. Since, the work was unlicensed he was always alert about the local authorities.
Challenges faced during the early rise
Just like any other inspirational figure, Moafaq Al Gaddah had to face many challenges during his early rise. He had to work in the searing heat of Kuwait; however, he never lost his resolve in the process. Another challenge for him was to beat the market competition as other sellers were also in the wholesale business, this is the place where his talents helped him overcome his competitors.
Moreover, he had to be on the look-out for the local authorities since his kiosk was unlicensed and he could have been put behind the bars for this act. Luckily he was never reported and was even protected by the customers and a few shop owners who liked and valued his skills.
Beginning of entrepreneurial career
Moafaq Al Gaddah made quite a lot of money from his wholesale business in Kuwait. Now the next important step in his life was to invest that money in a way that it earned a healthy return on investment. This happened with a bit of help that he received from his cousin who came from Abu Dhabi. Moafaq was convinced by his cousin to invest that money in a shop that provided spare parts for cars in the UAE. He moved to the UAE the same year and started to expand his chain of stores providing auto parts. After a few years he even started getting parts from other parts of the world such as Europe, America and Japan and started to resell the same in the local market. Again his knack for selling products came in handy in performing the task.
The MAG Group
Moafaq Al Gaddah’s entrepreneurial peak was when he found the MAG Group and diversified it into other industries. The fortunes were turned for this group when Moafaq decided to invest in the property business. Al Gaddah made a decision to invest in a piece of land for building a manufacturing plant. This decision paid off big time, so he decided to invest more in the property, and soon he was building high-rises in various areas such as Marina, Jumeirah Lakes Towers, and many others.
Today MAG Group stands amongst the top-rated investment groups and is considered a trusted brand by the customers. There is also a policy in the Group that MAG will not take more than three years in completing a project. They only advertise for a project when early approvals are already in hand and infrastructure is almost complete.
At the core of all this fortune is on the simple man that is Moafaq Al Gaddah. His skills of selling products to the people and his zeal for becoming an entrepreneur was a perfect combination for earning the reputation and building a group of companies. There is a lot that can be learned from Moafaq Al Gaddah. Indeed, he is an inspiration to many and is hence a gulf influencer.