Early life

Al-Fahim was born in Dubai in 1977. From the age of eleven he worked in his father's Orient Pharmacy after school. At the age eighteen he founded the "Sulaiman Al Fahim Group" which financed education and sports in the UAE. In 1998, when he was 21, his parents and younger brother were killed in a road traffic accident near Dubai Airport. Following this loss he moved to the United States.^[3] There Al-Fahim received his MBA in Finance and Real Estate from Kogod School of Business of the American University in Washington, D.C

Real estate career

Hydra Properties

Al-Fahim was CEO of Hydra Properties, a United Arab Emirates real estate company he founded in 2005.^[6] Current projects include Al Reem Island; Mazatlán, Mexico; Abu Dhabi and Dubai.^[7] Some investors who bought real estate developed by Hydra Properties have accused the company of unethical behaviour because it had altered the details of plans and increased the price of homes in a time of falling house prices and construction costs. There are also concerns from buyers of off-plan property with Hydra Properties regarding the lack of progress on site of the flagship development, Hydra Village. While 2500 villas are supposed to be handed over in 2009, construction progress has been virtually non-existent.^[8] These issues were defended by Hydra as operating both within the law and within the signed investor contracts. Hydra stressed that investors were kept fully informed of project improvements at all times since they signed their contracts.^[9] Al-Fahim became chairman of the Arab Union for Real Estate Development in March 2009,^[10] and in June was replaced as CEO for Hydra Properties by Ali bin Sulayem, who was commercial director for the parent company Royal Group. Following his replacement, Al-Fahim was appointed to the board of directors.^[4]

A warrant for his arrest over an alleged dispute in a Dh8 m property deal was issued in February 2010. Original reports suggested he had cleared out assets from the UAE and would be unable to return to the UAE without being arrested. However, the arrest warrant was subsequently withdrawn and Al-Fahim was given a one-month grace period to repay the funds. It was, however, also reported that there was an error in translation and that there never was an arrest warrant but rather a "call to a hearing" as this is a civil case. "Asked who should repay the investor, Mr al Fahim said that was for the court to decide. “At the call to hearing there would be the final decision about who pays and how much. It is the decision of the judge,” he said. “I will do my best to see that the other people pay him, but that is all.” In addition to Mr al Fahim, two other firms were named on the repayment order – Ghantoot Star General Trading and Al Buraq." ^[11]. Al Fahim also said that, as the reports of the arrest warrant were inaccurate, he planned to pursue legal action against those who printed the story ^[12].

Arab Union for Real Estate Development

In March 2009, Al-Fahim was elected to become the first president of the newly formed Arab Union for Real Estate Development (AURD).^[10]The AURD is a trade association and, as president and chairman, Al-Fahim represented them at the first Euro-Arab Real Estate Conference in October 2009.^[13] He has met with Senate Majority Leader Harry Reid to discuss sustainable development plans for low- and middle-income families ^[14] including the New York Green Light City project underway in Brooklyn, NY ^[15].

In November 2009, Al-Fahim spoke to Roll Call praising President Obama's administration for attempting to work with the Middle East.^[16]

In July 2010, Al Fahim announced plans for the AURD to develop solar and wind renewable energy projects in the GCC region with Spanish renewable technology leader Montealto ^[17].