DUBAI, Feb 25 — A prominent Dubai-based Pakistani businessman and philanthropist Haji Abdul Razzaq Yaqoob, who passed away in London on Friday, was remembered by the community here, reported Gulf News. Founder of ARY Group, Yaqoob died after protracted illness and will be laid to rest in Karachi on Tuesday. He was 69 and survived by a widow and five daughters.
Known as “rainbow heart man’ for his introduction of heart-shaped pendants in the jewelry market, Razzaq played an important role in the national economy of Pakistan by leading a key business group of the country. Hundreds of community members gathered on Monday night at the Pakistan Association in Dubai to offer condolence and pay tribute to the man who will be remembered for his contribution to humanity.
Yaqoob, who was born on May 7, 1944 in Surat, Gujarat in India but his family settled in Karachi. Yaqoob was also the founding president of the World Memon Organization (WMO) — a charity organization that runs schools and hospitals for the poor.
With his hard work and struggle, he introduced the ARY Group on the national and international level.
Though he came to Dubai more than 45 years ago, he founded ARY Group in 1972 and made Dubai the base for his business.
Yaqoob was well known and respected among the Pakistani community in the UAE for his charity work. He is the main contributor to the charity fund for the welfare committee of the Pakistan Association in Dubai, which provides financial help to hundreds of people in the UAE. He helped underprivileged people in the UAE regardless of their nationality.
Yaqoob was also known as the merchant of gold in Dubai. He launched his ARY gold brand in 1986 and kick-started his journey to become a leading Pakistani businessman in Dubai. In 1996, he introduced his new jewelry brand, ARY rainbow heart pendants, which became sought after jewelry pieces, especially for couples. Taking advantage of the property boom in Dubai, Yaqoob entered the realty business with the launch of freehold towers in International City, attracting huge investment from Pakistan.