Dubai-based billionaire businessman Micky Jagtiani, who founded the Landmark Group, died on Friday. He was 70.
The company said he "passed away peacefully, surrounded by his loving family".
Jagtiani was "renowned for his exceptional leadership, unwavering customer-centric approach, and deep market understanding, his visionary spirit and strategic foresight helped the Landmark Group and its brands become a household name in the community," their statement read.
"From its humble beginnings with a single store in Bahrain in 1973, Micky Jagtiani was the driving force in shaping the conglomerate’s extraordinary journey.
"His strategic acumen enabled the Landmark Group to emerge as the region's foremost retail and hospitality conglomerate, with over 2,200 stores in 21 countries across the Middle East and Africa, as well as the Indian Subcontinent, and Southeast Asia."
Earlier this year, he ranked 511 on Forbes’ 37th annual world’s billionaires list, with a net worth of $5.2 billion.
He is survived by his wife Renuka, his children - Aarti & Savitar, Nisha & Kabir, and Rahul, and grandchildren Samar, Nikhil, Yohan and Aliya.
Dubai's Crown Prince His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum paid his tributes to Jagtiani, calling him an integral part of the city’s growth.
"His philanthropic legacy and contributions to the UAE's economy and society over the last three decades will be remembered forever," Sheikh Hamdan said in post on Twitter.
.@HamdanMohammed: 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… pic.twitter.com/VK9ySOYJj9— Dubai Media Office (@DXBMediaOffice) May 26, 2023