Kabir Mulchandani is the owner of Dubai-based real estate firm FIVE Holdings, which owns luxury party hotels and resorts in the Middle East, Spain, and Switzerland. He founded the firm in 2013. Born and raised in Mumbai, India, Mulchandani worked for his family's consumer electronics business before moving to Dubai in the early 2000s and investing in real estate. After Dubai's property market collapsed in 2008, Mulchandani was charged with fraud and embezzlement in 2009 and spent 140 days in jail before being cleared in 2010. FIVE Holdings acquired The Pacha Group, which owns hotels and nightclubs in Ibiza, Spain, for $330 million in 2023.