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Unique Group

Unique Group is a global engineering firm specializing in subsea technologies, equipment, and integrated solutions for offshore, marine, renewables, oil and gas, and defense sectors.^[1]^[2] Founded in 1993 as an equipment rental, sales, and service provider initially focused on the Middle East, India, and Southeast Asia, the company has expanded to offer turnkey subsea and offshore engineering services, including survey and inspection tools, buoyancy products, life support systems, and unmanned surface vehicles.^[3]^[4] With operations spanning multiple continents and a workforce exceeding 800 employees, Unique Group emphasizes innovation in areas such as AI-driven subsea solutions and sustainable offshore technologies, supported by private equity backing and a commitment to ESG principles.^[5]^[6] Notable achievements include three decades of growth from regional roots to a prominent player in subsea engineering, with key products like remotely operated vehicles and hyperbaric systems serving demanding environments without major publicized controversies.^[7]^[8]

History

Inception and Early Expansion (1980s–1990s)

Unique Group was established in 1982 in Dhaka, Bangladesh, as a small-scale enterprise focused on exporting human resources to meet international labor demands, primarily in the Middle East.^[9] This inception aligned with Bangladesh's national push into manpower exports, which began in 1976 and accelerated during the 1980s oil-driven economic opportunities abroad, generating vital foreign exchange amid domestic challenges like poverty and limited industrialization.^[10] The group's initial operations emphasized recruitment and placement, establishing a foothold in a sector that by the late 1980s accounted for significant remittance inflows supporting Bangladesh's economy under constrained fiscal policies.^[11] During the 1980s, Unique Group expanded by integrating skill development initiatives to improve the quality and employability of exported workers, pioneering training programs that addressed gaps in vocational readiness.^[9] This strategy navigated the era's political landscape, marked by Hussain Muhammad Ershad's military-backed regime (1982–1990), which introduced partial economic liberalization to encourage private sector growth despite bureaucratic hurdles and import substitution biases. The group's early diversification leveraged these reforms, venturing into ancillary services like tours and travels to support expatriate networks, while maintaining a lean structure suited to Dhaka's emerging market dynamics. In the 1990s, following Ershad's ouster and the transition to democratic governance, Unique Group accelerated subsidiary incorporations, entering manufacturing with Unique Ceramic Industries Limited in 1995 to tap into domestic construction demand.^[12] Parallel expansions into real estate addressed urbanization pressures in Dhaka, with initial projects focusing on residential and commercial developments amid rising population growth rates exceeding 2% annually. These moves reflected a foundational strategy of sector-agnostic diversification, prioritizing resilience against policy volatility and export reliance, while building on manpower revenues to fund capital-intensive ventures without heavy state intervention.^[9]

Diversification and Modern Growth (2000s–Present)

In the 2000s, Unique Group expanded its portfolio beyond initial sectors, entering hospitality through the establishment of Unique Hotel & Resorts Limited on November 28, 2000, which developed The Westin Dhaka—a five-star property that opened on September 12, 2007, as the first such privately owned luxury hotel in Bangladesh.^[13] This move capitalized on rising demand from business travelers and foreign investment amid Bangladesh's GDP growth averaging 6-7% annually during the decade, driven partly by ready-made garments (RMG) exports surging from $6.5 billion in 2000 to $15.6 billion by 2010.^[14] The group also ventured into banking via association with Eastern Bank Limited and insurance through Chartered Life Insurance, reflecting strategic adaptation to financial sector liberalization post-2000.^[15] Subsequent growth included further hospitality investments, such as the acquisition and operation of Sheraton Dhaka, and real estate projects like the HANSA premium residences, aligning with infrastructure needs from urbanization and RMG-led economic expansion that boosted urban remittances and hotel occupancy.^[15]^[16] By the 2010s, diversification encompassed over 20 sectors, including energy, ceramics, healthcare, and education, with associate companies like Borak Real Estate and Borak Polytechnic supporting integrated growth.^[15] In 2023, Borak Real Estate, a group concern, announced partnerships to introduce Indian chains Taj and Vivanta hotels in Dhaka, targeting premium tourism and business segments amid post-pandemic recovery.^[17] As of recent reports, Unique Group comprises more than 21 associate companies and employs over 2,940 personnel across its operations, demonstrating resilience in a context of political transitions and economic volatility, including the 2020 COVID-19 downturn that reduced hospitality cash flows but prompted pivots to diversified revenue streams.^[15] This expansion has positioned the group to leverage Bangladesh's ongoing infrastructure demands, such as power and real estate, while maintaining private-sector agility without state subsidies.^[15]

Leadership and Governance

Key Executives and Ownership

Salina Ali serves as Chairperson of Unique Group, guiding the conglomerate's long-term strategic vision and leveraging her background in sociology from the University of Dhaka to foster leadership across its diversified portfolio.^[18] As a key stakeholder, she emphasizes entrepreneurial spirit and has contributed to the group's success through extensive global business engagements and philanthropic initiatives.^[18] Her role underscores family-oriented oversight in decision-making.^[18] Mohammad Noor Ali, the founder and Managing Director since the group's inception, directs operational leadership and has spearheaded diversification into over 20 sectors, including human resources, aviation, and hospitality.^[18] A self-made entrepreneur and former president of the Bangladesh Association of International Recruiting Agencies, he holds positions such as chairman of Eastern Bank Ltd. and manages key subsidiaries like Unique Hotel & Resorts PLC.^[18] His influence prioritizes ethical expansion and autonomy in business development.^[18] Unique Group's ownership structure is family-controlled, centered on the Ali family, with Salina Ali and Mohammad Noor Ali as spouses holding principal stakes and the Noor Ali Family Trust established in February 2022 to formalize family asset management.^[19] Board compositions in major subsidiaries, such as Unique Hotel & Resorts PLC, reflect this control, featuring Salina Ali as chairman, Mohammad Noor Ali as managing director, and family members like daughter Nabila Ali as directors.^[20]^[21] Governance practices maintain entrepreneurial independence, avoiding state dependencies in favor of private-sector driven policies, as demonstrated by the group's self-funded growth from human resource exports.^[9]

Business Portfolio

Financial Services

Eastern Bank Limited (EBL), a key banking subsidiary associated with Unique Group through major shareholding, was incorporated in 1992 as a private commercial bank under the Bank Companies Act 1991 to conduct general banking activities.^[22] The bank offers core services including deposit mobilization, corporate and retail lending, trade finance, and remittance handling, operating through an extensive branch network and digital platforms.^[23] EBL has achieved consistent expansion, reporting revenue of ৳57.4 billion and net income of ৳6.6 billion for the fiscal year ending December 2024, with sales growth of 39.81% amid a focus on asset quality and liquidity.^[24] In insurance, Unique Group's involvement centers on Chartered Life Insurance Company Limited, a life insurer licensed by the Insurance Development and Regulatory Authority (IDRA) with sponsorship from Unique Group entities.^[25] The company provides individual life products such as endowment plans, term insurance, and savings-linked policies, alongside group life and health coverage addressing critical illnesses like cancer and heart attacks.^[26] These offerings comply with IDRA solvency and operational standards, emphasizing risk protection for households and businesses in Bangladesh.^[27] Unique Group's capital market activities include Unique Share Management Limited (USML), a brokerage firm established as a Unique Group initiative and approved by the Bangladesh Securities and Exchange Commission as a Dhaka Stock Exchange broker.^[28] USML delivers stock trading, portfolio management, and investment advisory services tailored to local markets, facilitating client access to equities and enhancing market liquidity without direct emphasis on proprietary trading volumes.^[15] These non-banking financial operations complement Unique Group's broader portfolio by supporting equity intermediation and investor participation in Bangladesh's developing capital markets.^[29]

Hospitality, Real Estate, and Infrastructure

Unique Hotel & Resorts PLC, a flagship hospitality arm of Unique Group, owns and manages high-end properties in Dhaka, including The Westin Dhaka in Gulshan and Sheraton Dhaka in Banani, both operated under Marriott International affiliations.^[30] These facilities cater to business travelers and tourists, featuring extensive dining options, event spaces, and amenities in key commercial districts.^[31]^[32] Borak Real Estate Ltd., integral to Unique Group's property development, has constructed prominent structures such as the 20-story Unique Trade Center in Kawran Bazar and the 24-story The Westin Dhaka in Gulshan, advancing commercial and mixed-use real estate in urban Bangladesh.^[33] Other projects include residential and office complexes like Borak Mehnur in Banani, Borak Park Valley in Baridhara, and Unique Heights in Paribag, supporting Dhaka's skyline expansion and business infrastructure.^[15] Complementing these efforts, Borak Ready Mix Concrete Ltd. supplies quality-controlled ready-mix concrete from batching plants for construction sites, enabling efficient material delivery for Unique Group's builds and external projects across residential, commercial, and infrastructural sectors.^[34] In infrastructure, Unique Special Economic Zone Ltd. (SEZL) develops a 450-acre private economic zone, positioning it among Bangladesh's largest such initiatives to promote industrial clustering, logistics, and investment in manufacturing and services.^[15] These combined operations in hospitality, real estate, and zone development drive urban growth by delivering modern facilities that enhance connectivity, accommodate economic activity, and facilitate private sector-led construction in densely populated areas.^[15]

Manufacturing, Education, and Other Sectors

Unique Group's manufacturing operations center on ceramics production through Unique Ceramic Industries Pvt. Ltd., an automated facility established in 1995 at Konabari, Gazipur, producing 60,000 bricks per day, including solid, hollow, and reinforced types, with technical collaboration from China and targeting both local and export markets.^[35] The education sector involves Borak Polytechnic Institute, which delivers four-year diploma programs in engineering disciplines affiliated with the Bangladesh Technical Education Board, prioritizing vocational skill enhancement via dedicated job placement cells, workplace learning centers, and career guidance support.^[36] Healthcare is addressed by Gulshan Clinic Ltd., operational since January 2016, offering integrated diagnostic and medical services such as pathology, radiology, and wellness checkups in a single-facility model staffed by qualified professionals.^[37] Other ventures include human resources export under Unique Eastern Pvt. Ltd., a government-approved agency founded in 1986 that has facilitated the deployment of more than 300,000 skilled, semi-skilled, and unskilled workers abroad over 38 years; aviation handling via Borak Travels Pvt. Ltd.; and telecommunications through Bangla Tel Ltd., an international gateway provider specializing in voice traffic termination to and from Bangladesh.^[38]^[15]

Economic Impact and Challenges

Contributions to Employment and Development

Unique Group directly employs over 2,940 individuals across its operations in Bangladesh, spanning more than 16 companies in sectors including hospitality, real estate, and manufacturing.^[15] These direct roles, combined with indirect employment generated through supplier networks and associate entities, amplify the group's labor market footprint. Since its founding in 1982, the conglomerate has emphasized local talent acquisition and skill-building, establishing the nation's largest human resource development and export organization to train workers for domestic and international opportunities.^[9] This focus on vocational programs has elevated workforce capabilities in high-demand areas like hotel management and technical trades, fostering long-term employability amid Bangladesh's evolving private sector needs.^[9] The group's diversification into infrastructure and real estate has facilitated trade enhancements and urban development, indirectly supporting GDP expansion by improving logistical efficiency and commercial connectivity.^[15] In hospitality, properties such as The Westin Dhaka and Sheraton Dhaka have pioneered luxury standards, drawing international visitors and generating ancillary tourism revenues that bolster service-sector growth.^[15] These initiatives align with Bangladesh's model of private-led economic advancement, where conglomerates like Unique Group navigate regulatory constraints through internal reinvestment and operational innovation, rather than state-backed financing.^[15] By sustaining expansions across over 20 business verticals without evident dependence on public funds, Unique Group exemplifies entrepreneurial adaptation in a high-regulation context, contributing to broader private-sector dynamism that has underpinned Bangladesh's GDP trajectory of sustained 6-7% annual growth in recent decades.^[15] Its emphasis on team development and quality-driven outputs further reinforces human capital formation, positioning the group as a catalyst for inclusive development in a labor-abundant economy.^[9]

Criticisms and Operational Hurdles

Unique Group, like other Bangladeshi conglomerates, operates in an environment characterized by significant bureaucratic red tape and corruption risks, particularly in obtaining permits for real estate, infrastructure, and financial services projects. Surveys indicate that over 16% of businesses in Bangladesh view corruption as the primary operational obstacle, often manifesting in demands for bribes during licensing and regulatory approvals.^[39] These hurdles are exacerbated by fragmented public administration systems prone to inefficiency and discretionary power, which can delay project timelines and inflate costs across sectors.^[40] In the manpower export sector, Unique Group's subsidiary Unique Eastern Private Limited faced regulatory scrutiny in September 2025 when the Criminal Investigation Department filed a money laundering case against owner Noor Ali and 13 associates, alleging an organized fraud scheme that defrauded approximately Tk 407 million from workers seeking employment in Malaysia. Prosecutors claimed the network exploited thousands by collecting fees under false pretenses without facilitating jobs, violating the Money Laundering Prevention Act.^[41] ^[42] As of late 2025, the case remains under investigation, with no convictions reported, highlighting ongoing vulnerabilities in labor export operations amid weak oversight.^[43] Earlier, in December 2020, Noor Ali and his wife Selina Ali received bail in a Dhaka court case accusing them of fraud and misappropriation of funds, though details on the allegations and resolution are limited in public records. Broader critiques of Bangladeshi conglomerates, including potential cronyism in securing favors during periods of political instability, have been leveled by analysts, attributing sustained operations to navigating elite networks rather than purely merit-based competition; however, no specific evidence ties Unique Group to such practices beyond general sector risks.^[44] ^[45] Empirical data on compliance, such as adherence to Bangladesh Bank's financial reporting in its services arm, counters claims of systemic dominance, but exposure to post-2024 political transitions has amplified scrutiny on asset transparency.^[46]

References

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Unique Group: Subsea Technologies & Engineering | Offshore ...
Unique Group specialises in subsea engineering and technology solutions for offshore and marine industries, including renewables, oil and gas, and defense.CareersAbout UsContact UsProductsIndustrial Lifting + Mooring ...
[2]
Unique Group - LinkedIn
Unique Group is a leading specialist and integrated engineering solutions provider across the global subsea, renewables, oil and gas, and defence industries.
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Our Story | About Us - Unique Group
Unique Group is founded as an equipment rental, sales and service organisation supporting the oil & gas and maritime industries in the Middle East, India and ...Our Global Board Of Directors · ESG · Our ValuesMissing: overview | Show results with:overview
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Unique Group, founded in 1993, provides subsea, offshore, and life support equipment and engineering services, and is private equity-backed.
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Unique Group Information - RocketReach
Unique Group is an Engineering Services, Oil and Gas, and Subsea Buoyancy company located in AE with $92.7 million in revenue and 817 employees.Missing: overview | Show results with:overview
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[PDF] content - Unique Group
Unique Group, founded in 1993, focuses on subsea technology, oil & gas, and innovative products, with a new AI solution and USV division.
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Unique Group is an independently owned global company, Unique Group leads the way in providing engineering expertise, sales and rental equipment and the latest ...
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Founded in 1993, Unique Group is among the world's prominent integrated subsea and offshore solution providers. Through its five operational business ...
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3 The manpower export from Bangladesh began in 1976 and it has shown an increasing trend thereafter with few exceptions. In 1976, the country exported only ...
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The export of Bangladesh manpower, particularly to the Middle East, is an important source of foreign exchange and a partial short-term solution to the ...
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It was established in November 28, 2000 and got the. Certificate of Commencement of Business in the Brand name “The Westin Dhaka” on July 01, 2007. Since then ...
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Unique Hotel & Resorts Limited is a Bangladesh-based hotel and hospitality management company. The Company owns and operates Westin Dhaka, which is a luxury ...
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Nabila is the eldest daughter of Mr. Mohd. Noor Ali, Managing Director and Mrs. Salina Ali, Chairperson of Unique Hotel & Resorts PLC and Borak Real Estate ...
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