$8 Billion in Water Loans and a 100x Growth Story Lead Abu Dhabi Summit

Water.org has facilitated more than $8 billion in household-level loans, reaching over 92 million people — and CEO Gary White wants investors and family businesses to treat water scarcity as a market, not a charity case. White delivered the figure at the inaugural Forbes Middle East Family Business Summit on October 28 in Abu Dhabi, in a fireside chat moderated by Shargiil Bashir, EVP and Chief Sustainability Officer at First Abu Dhabi Bank (FAB). The two-day summit runs October 28–29 at the Park Hyatt Abu Dhabi Hotel and Villas on Saadiyat Island, under the patronage of the UAE Ministry of Economy and Tourism.

Is water the next asset class?

White put the problem in hard numbers: 2 billion people worldwide still lack access to safe, reliable water, and annual coping costs from scarcity reach an estimated $300 billion. He named climate change, economic demand and AI as the forces straining global water resources.

"We don't really see this as a charity problem to be solved as much as a market to be served," White said. The lending data backs his framing: women account for 94% of borrowers, and repayment rates reach 98%. "Every dollar of philanthropy that comes in for that technical assistance and that market building delivers over $20 of market rate capital," he said. He praised the UAE's leadership in water innovation and urged investors to blend infrastructure investments, impact-focused funds and catalytic philanthropy. The pitch is simple: financing water access can generate returns while solving scarcity.

How fast can a family business scale?

Imtiaz Developments grew its turnover from AED 100 million to nearly AED 10 billion in five years — a hundredfold increase — while its workforce expanded from 50 to 500 employees in three years. CEO Masih Imtiaz credited hiring experienced professionals, involving family members in key roles and strengthening internal systems. "First thing first, you should not be a bottleneck," he said, adding that the organization must operate independently of its founder. He also announced plans to expand into Abu Dhabi, building on the company's Dubai success.

Other leaders urged discipline over speed. Ankush Arora, group CEO of Mansour Automotive Group, said scaling requires vision, disciplined execution and trust between shareholders and professional management. "It's a matter of clarity. It's a matter of discipline, and more importantly, building the trust," he said, stressing transparency around both successes and failures.

Mohamed Abdulelah Al Kooheji, group CEO of Yusuf Bin Ahmed Kanoo Group, tied decision-making speed directly to structure. "Speed doesn't come from shortcuts; it comes from clarity, and clarity comes from governance," he said, citing values, adaptability and family as the pillars of the group's 136-year legacy. Mishal Hamad Kanoo, chairman – UAE & Oman of The Kanoo Group, warned that international expansion demands attention to local regulations, business culture, talent and currency risks. "Each family business has its own culture, it has its own way of managing things," he noted. Ali Al Gebely, chairman of Al Gebely Holding, called adaptability essential as AI transforms industries: "It's how can you adapt?"

What do women leaders bring to the table?

H.E. Lujaina Mohsin Darwish, chairperson of ITICS at Mohsin Haider Darwish LLC, described moving from academia to leading the family business. "To be successful and to run a business, it has nothing to do with gender," she said. Her sister, Areej Mohsin Darwish, chairperson of MHD ACERE, said relationships in family businesses must be supported by competence, knowledge and the right tools.

Basma Sulaiman Alzamil, senior adviser at Lansberg Gersick Advisors, drew a sharp line between tokenism and influence: "There is a very big difference between representing and really participation." Maissa Abou Adal Ghanem, board member of Holdal Group, was blunter still. "Credibility in a family business and enterprise is never inherited. It's actually earned," she said, adding: "Women are not just fixers. Women are not just plasters. They're not just saviors. They can build. They can co-create."

Art, IPOs and the exit question

Shafeena Yusuff Ali, founder of the Rizq Art Initiative — established in Abu Dhabi around three years ago and working with roughly 180 artists worldwide — argued art offers cultural capital beyond financial returns. "Emirati art is having a moment. It is having an incredible moment," she said.

On exits, Christopher Laing, head of Equity Capital Markets at EFG Hermes, cautioned: "IPOs are not just about raising money. It's much, much more strategic than that." Amin Nasser, senior adviser at PwC Middle East, added a caveat: "An IPO is not a substitute for good governance," and warned that "hope is not a valuation methodology." Alexandre Mars, founder and CEO of blisce and the Epic Foundation, said liquidity decisions should reflect each family's priorities, whether preservation, reinvestment or impact.

Can wealth survive the third generation?

Shehab M. Gargash, founder and chairman of Daman Investments, called the balance between reinvestment and wealth management an open question: "It's a fine balance, and there is no right answer." FAB's Karima Abdesslami said structures should follow family objectives, not market trends: "There needs to be an institutionalization of the wealth today."

Saeed Ali Khalfan Al Dhaheri of Ali & Sons Holding described the shift from founder-led decisions to process-driven governance and revealed plans for a third-generation committee. Frederick Van Gysegem of Roland Berger framed succession as a question of readiness, not timing, built on capability, willingness and employee acceptance. "It's not so much about taking the family out of the business, but is about taking the single person dependents out of the business," he said. The summit's day-two program now carries the burden of proving these governance frameworks can outlast the speeches.