Sheikh Mohammed hails 28-year-old who built $1.5-billion company in Dubai

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Dubai - Dubai will remain a platform for all ambitious Arab youth, the UAE Vice-President said.

By Staff Report

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Published: Wed 28 Jul 2021, 7:05 PM

Last updated: Wed 28 Jul 2021, 7:27 PM

The UAE Vice-President has hailed a 28-year-old Arab, who set up a $1.5-billion (Dh5.5 billion) business in Dubai.

Taking to Twitter on Wednesday, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said: "Dubai-headquartered Swvl is the first Middle East $1.5 billion Unicorn to list on Nasdaq US, founded by Mostafa Kandil.

Also read: Swvl first $1.5b unicorn from ME to list on Nasdaq

"Dubai's impact on the global start-up scene shows the vision and spirit of the region’s youth in shaping tomorrow’s businesses."

Congratulating Mostafa, Sheikh Mohammed said that Dubai will remain a platform for all ambitious Arab youth.

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