Born and raised in Mumbai, Kabir Mulchandani initially worked in his family’s electronics business before transitioning to Dubai’s real estate market. However, his journey wasn’t without challenges. During the 2008 financial crisis, Kabir faced allegations of fraud and embezzlement, leading to a 140-day jail term. By 2010, he was acquitted of all charges, marking a pivotal moment in his career.
Founding FIVE Holdings
In 2011, Kabir launched FIVE Holdings, a luxury real estate and hospitality company. Known for redefining opulence, the company’s portfolio includes the iconic FIVE Palm Jumeirah hotel in Dubai. With innovative features like drive-in nightclubs for supercars and star-studded events, FIVE Holdings has set new benchmarks in the luxury travel and hospitality industry.
Expansion with Pacha Group
In 2023, Kabir made headlines by acquiring Spain’s Pacha Group, famous for its hotels and nightclubs in Ibiza, for $330 million. This acquisition is part of FIVE Holdings’ global expansion strategy. The company is also preparing for an IPO on the Dubai Stock Exchange in 2025, signaling its ambitious growth plans.
Fly FIVE Party Jet: Luxury in the Skies
Among Kabir’s groundbreaking ventures is the Fly FIVE Party Jet, unveiled in 2023. Based on the Airbus ACJ TwoTwenty, this private jet caters to 16 passengers and is designed for high-end experiences. Equipped with LED lighting for parties, a king-size bed, and advanced safety features, it redefines private air travel. Operated by Zurich-based Comlux, the jet costs $13,000-$14,000 per hour to rent, with a round trip between London and Dubai priced at $195,000.
A Vision for Luxury and Experiences
Kabir’s philosophy goes beyond opulence; he aims to create unforgettable experiences for guests. Whether through innovative concepts like the Fly FIVE Party Jet or FIVE’s luxury properties, his vision is to make every moment extraordinary.
From Setbacks to a $2 Billion Empire
Kabir Mulchandani’s journey from adversity to building a $2 billion empire exemplifies resilience and innovation. His determination has not only redefined luxury but also positioned him as a leading figure in global hospitality and real estate.
