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The UAE’s food and beverage landscape is thriving, with diners increasingly seeking experiences that blend quality, authenticity, and innovation. At the forefront of this evolution is Shamal Holding, whose selective investment approach is shaping the region’s premium and homegrown F&B scene.
In this interview, Sudhin Siva, chief asset management officer at Shamal, shares how the group is backing global brands like Five Guys and SUSHISAMBA while nurturing local concepts such as The Espresso Lab, leveraging technology, operational expertise, and market insight to deliver memorable, scalable, and distinctive dining experiences across the UAE.
How would you describe the current state of the F&B and restaurant industry in the UAE? What macro trends are shaping this dynamic sector in the UAE?
The UAE’s Food and Beverage (F&B) sector is experiencing strong growth, with revenues projected to reach Dhs141bn ($38.3bn) in 2024 and continue on a trajectory to Dhs161.37bn ($43.98 bn) by 2029 (Source: Dubai Gastronomy Industry Report 2024.) That scale creates opportunity but also intense competition.
In a market with so many choices, the differentiator for premium and luxury operators is the ability to deliver a distinct, repeatable experience and to protect quality at scale.
From our perspective, the key trends are experiential dining, provenance and sustainability, and measured adoption of technology to improve consistency and efficiency. Each of these trends has operational implications. Provenance affects supply chain design and cost. Sustainability affects waste and sourcing decisions. Technology improves forecasting and personalisation but does not replace the human craft that defines luxury dining.
Shamal’s perspective on the sector is distinct, shaped by an investment-led lens and a focus on curating experiences rather than fully owning and operating brands. We back a selective portfolio that includes international and regional names while supporting homegrown brands to grow without losing their identity.
Presently, Shamal’s F&B portfolio includes Five Guys, Zero Gravity, and The Espresso Lab, along with a global investment in SUSHISAMBA.
While our brands like Five Guys and SUSHISAMBA provide international culinary experiences to UAE diners, we are equally committed to nurturing local and homegrown concepts with their immense potential to scale with The Espresso Lab.
What leadership principles have guided your journey in building or scaling the business in this region?
Our overarching strategy remains rooted in investing in Dubai and the wider UAE, creating unique and memorable experiences for residents and visitors alike in line with the country’s reputation. In a competitive and cluttered market, we have introduced brands that can carve out a differentiated layer to consumer experiences.
We use three practical principles. First, selectivity. We prioritise investments in concepts that deliver genuine value to UAE customers. Shamal focuses on introducing new, impactful and distinctive experiences. This principle anchors on selection criteria such as the origin of the concept, the story behind the brand, and the experiences it brings to the UAE market.
Second, protect the brand. Growth must not dilute what makes a concept distinctive.
Third, build the foundation for scale. That means linking capital with governance and infrastructure so founders can focus on product and experience. These principles keep our choices focused and durable. We are not aiming for breadth for its own sake. We prioritise depth in places where premium positioning and repeat visitation are achievable.
Each expansion decision is made to complement our existing portfolio, reinforcing our positioning in eclectic, experience-led dining. Our focus is firmly on fine dining and premium casual categories, while also nurturing homegrown and locally originating concepts. Equally, we are committed to expanding both new and existing brands to reach a broader consumer base across the UAE, ensuring that communities have access to high-quality dining experiences that resonate with evolving customer sentiments.
What is Shamal’s strategic approach to remain competitive in the UAE’s fast-paced F&B scene?
Our approach is curation plus enablement. Curation means being highly selective about where we place capital and which formats we scale. Enablement means applying our asset expertise to improve a brand’s ability to grow. That typically includes site strategy, landlord introductions, access to shared administrative capability and governance that supports disciplined expansion. We deliberately avoid interfering with culinary or brand decisions. Our role is to remove execution friction so founders and operators can deliver consistently at premium price points.
A strong example of this is our contribution to The Espresso Lab, the brainchild of Emirati entrepreneur Ibrahim Al Mallouhi. Beyond investing in the concept, we have supported its growth trajectory by providing mentorship, market insights, and access to resources that allow the brand to flourish.
This blend of investment, expertise, and ecosystem access underpins Shamal’s competitive strategy and ensures that our portfolio brands remain distinctive in one of the most dynamic F&B markets in the world. Our approach is highly collaborative, with a hands-on presence to support growth and innovation.
Diners in the UAE are known for embracing global concepts, how does Shamal F&B brands implement a localised approach without losing its global identity?
The UAE is a truly global F&B destination, where diners are eager to explore international concepts while expecting offerings that reflect their cultural and lifestyle preferences. Our approach with global brands is to preserve their core identity while thoughtfully adapting them to meet local expectations.
This includes adhering to halal standards across menus, fine-tuning flavours and offerings to suit regional tastes, and elevating service experiences to match the exceptional standards that diners in Dubai and the wider UAE are accustomed to. The market here is unique and consumers value authenticity while also expecting a higher degree of personalisation and excellence, which sets the bar higher than in many other parts of the world.
By balancing global brand equity with local insights, Shamal ensures its portfolio resonates deeply with UAE diners while still retaining the essence that makes each brand distinctive on the global stage.
Are there untapped areas or emerging neighbourhoods in the UAE that you believe are ripe for restaurant development in this perceived saturated F&B market in the UAE?
The Dubai Gastronomy Industry Report 2024 estimates roughly 13,000 restaurants and cafés across the city. Whilst central locations remain attractive and we continue to see growth in these areas, the next wave of opportunity lies in other emirates and deeper community clusters within Dubai where premium dining is scarce, but demand exists. Examples include Ras Al Khaimah, Al Ain, and growing residential precincts.
Taking premium casual formats into these markets requires a different playbook for supply logistics, staffing, and site economics but can deliver a loyal customer base with less direct competition. We validated this approach with our rollout of Five Guys in Sharjah and Ras Al Khaimah, which performed above our expectations for a disciplined community expansion.
What’s one innovation or shift you think will define the next chapter of the UAE’s F&B/restaurant industry?
The role of AI and technology in the F&B industry cannot be overlooked. A recent survey by SevenRooms revealed that 87 per cent of UAE restaurant owners have integrated AI into their operations, with data analytics ranking among the top five areas of global adoption.
This growing trend is fundamentally reshaping the industry, empowering operators to leverage technology, streamline operations, and stay ahead in an increasingly competitive landscape. That said, the defining shift at the premium end will be substance, not novelty. Guests care more about where products come from, how they’re made, and the quality of the overall experience. Brands that combine smart operations with clear craftsmanship and authenticity will stand out.
We use AI-driven tools to forecast demand and automate routine back-of-house processes, enhancing both precision and productivity. As investors, we look for brands that strike this balance, combining a strong commitment to product excellence with the operational discipline required to scale effectively and sustainably.
