Story Highlight
– Abdulmagied Ahmed Seddiqi has passed away.
– He was a pioneer in UAE luxury retail.
– Led Ahmed Seddiqi to major retail success.
– Founded Seddiqi Holding, expanding family portfolio.
– Third-generation family continues luxury watch leadership.
Full Story
Abdulmagied Ahmed Seddiqi, the co-founder of Seddiqi Holding and former CEO of Ahmed Seddiqi, has died, as confirmed by a statement from his family.
His passing is a significant loss for the UAE’s luxury retail industry and marks the departure of a notable figure in the region’s high-end watchmaking sector.
The announcement came from his brother, Abdul Hamied Ahmed Seddiqi, who shared the news on social media, beginning with a poignant verse from the Quran: “O satisfied soul, return to your Lord, well-pleased and well pleasing. Enter among My servants and enter My Paradise.”
Abdulmagied was instrumental in revolutionising the landscape of luxury watches and jewellery throughout the UAE. Under his guidance, Ahmed Seddiqi, which began in 1950 in the historic Bur Dubai souk, transformed from a modest watch trading operation into a formidable retail leader representing over 100 prestigious brands, including Rolex, Patek Philippe, and Audemars Piguet.
In 2007, Seddiqi Holding was founded to streamline the family’s growing business ventures, which encompassed Swiss Watch Services, Mizzen, Seddiqi & Sons Investments, and Seddiqi Properties.
Alongside his brothers, Abdulmagied played a crucial role in steering the company through significant expansion, reinforcing Dubai’s reputation as a premier destination for luxury timepieces.
Currently, the legacy continues with the third generation of the family, including Osama Ibrahim Seddiqi and Hind Abdul Hamied Seddiqi, who are actively involved in the management of the firm and initiatives such as Dubai Watch Week.
