DUBAI, United Arab Emirates — Abdulmagied Ahmed Seddiqi, a prominent UAE businessman and co-owner of Seddiqi Holding who helped transform Dubai into a global destination for luxury timepieces, has died, his family confirmed on Thursday. He was 81.
The family shared the news on social media, with his brother, Abdul Hamied Ahmed Seddiqi, quoting a verse from the Qur’an: “O satisfied soul, return to your Lord, well-pleased and well pleasing…” as an expression of deep loss and faith.
Seddiqi’s death marks the passing of one of the most influential figures in the Middle East’s luxury retail sector, a man whose leadership helped elevate a small family trading business into a regional powerhouse synonymous with high-end watches and jewellery.
From souk shop to luxury retail empire
The origins of the Seddiqi name in luxury retail date back to 1950, when Abdulmagied’s father, Ahmed Qassim Seddiqi, opened a modest watch trading store in the Bur Dubai souk. Over decades, that single boutique grew into one of the Middle East’s most respected luxury houses, known today as Ahmed Seddiqi & Sons — a retail network representing more than 100 prestigious brands including Rolex, Patek Philippe and Audemars Piguet.
In 2007, the family established Seddiqi Holding to unify its sprawling businesses, which now encompass Swiss Watch Services, luxury lifestyle retailer Mizzen, investments and property units, and the globally recognised Dubai Watch Week.
Under Abdulmagied’s stewardship, the group expanded alongside Dubai’s rise as a luxury retail hub. Industry insiders credit the Seddiqi family with helping make the emirate a strategic market for watchmakers seeking exposure beyond traditional Western capitals.
A champion of horology and culture
Beyond retail, the family’s influence stretched into horological culture and education. Founded in 2015 by Ahmed Seddiqi & Sons, Dubai Watch Week has become a major biennial event on the industry calendar, bringing together brands, collectors and enthusiasts from around the world. It is widely seen as a key platform for dialogue, collaboration and appreciation of mechanical watchmaking.
In recent years, Seddiqi Holding also expanded its portfolio into lifestyle brands and property developments, reflecting the group’s ambition to broaden its footprint in the luxury sector.
A family legacy
Abdulmagied worked closely with his brothers, including current Seddiqi Holding Chairman Abdul Hamied Ahmed Seddiqi, as the company navigated decades of growth and market evolution. Third-generation family members have taken on senior roles, with Osama Ibrahim Seddiqi serving as vice-chairman and Hind Abdul Hamied Seddiqi leading brand and communications as well as overseeing Dubai Watch Week’s development.
Tributes from colleagues, partners and industry figures highlighted his warm leadership style and commitment to nurturing relationships with global brands, staff and customers alike. “He touched the lives of those around him with humility, wisdom and unwavering passion for the business,” a family statement said.
A defining era in luxury retail
Experts say the Seddiqi family’s work helped shift perceptions of the Middle East from being a merchant market to a sophisticated hub for luxury consumption and horological expertise — a legacy that will endure beyond Abdulmagied’s passing.
He is survived by his sons — Mohammed, Hasan, Ahmed and Mansour — and a wide family network committed to carrying forward the business he helped build.