Pioneering Years (1948 and Before): The patriarch, Laxmichand Mohanlal Shaholia, arrived in the Trucial States (predecessor to the UAE) in 1948. This was even before the formation of the UAE in 1971. His son, Suresh Laxmichand Shaholi, joined him at the age of 12. The family set up Dubai’s first jewelry shop, laying the foundation for a business that would become an integral part of the region’s history.
Early Challenges and Journey: Suresh Shaholi recalls the early days when he traveled by sea with his parents from Mumbai to the Trucial States. During this time, individual passports were not common, and his name was included in his mother’s passport. He also shares memories of being among the first students at a school established by the renowned Varkey family.
Business and Trade Expansion: The Shaholi family played a significant role in the gold trade, especially during the 1960s when Dubai emerged as a central hub for the flourishing gold industry. The family not only engaged in jewelry manufacturing but also ventured into modern retail. They supplied custom-made jewelry to royals, including the mother of Sheikh Mohammed bin Rashid Al Maktoum.
Gold Souk Origins: Divyesh Kumar Shaholia, son of Suresh, sheds light on the origins of the Dubai Gold Souk. The family, particularly the grandfather, was involved in the early planning stages of the souk. The transformation from a modest bazaar to a commercial hub was endorsed by Sheikh Rashid bin Saeed Al Maktoum.
Generational Changes and Challenges: Over the years, the family adapted to changing circumstances and market dynamics. They expanded into jewelry and closed down the workshop business. The emergence of new players in the industry influenced this decision.
Reflections on Early Life: Kundanbala Suresh Shaholia, sitting alongside her husband, provides insights into the life of women in those times. She describes a close-knit family of 100 people, highlighting the simplicity of life in Dubai during the early years. Safety concerns meant that women were mostly home-bound.
Transformation of Dubai: The narrative also touches on the transformation of Dubai from a simple, desert landscape to the bustling metropolis it is today. The construction of significant landmarks, such as the World Trade Centre, and the development of Sheikh Zayed Road are mentioned, providing a glimpse into the rapid changes the city underwent.
The Shaholi family’s story encapsulates the broader narrative of the UAE’s growth, from its early days to becoming a global hub, and highlights the pivotal role played by individuals and families in shaping the region’s history.