In this Global Platform video, Oxford Business Group speaks with Sheikh Faisal Bin Qassim Al Thani, Founder and Chairman, Al Faisal Holding, and key leaders of the privately held diversified group. As Qatar National Vision 2030 sets the country’s sights on a diversified economy, the private sector has taken a leading role in development plans, ranging from the construction of new residential and business areas, to the preservation of local heritage. Qatar’s strategic location and advanced infrastructure make it an attractive destination for foreign investment, and an increasing number of Qataris are seeking employment in the private sector. Al Faisal Holding’s diverse portfolio represents the potential of Qatari businesses to support national development goals.
Sheikh Faisal bin Qassim Al Thani: Praise be to God that our country, Qatar, has been successful at management. Its management is exemplary in many aspects. The country has a great global standing, with good relationships built on mutual respect and shared interests with other countries. This is attractive to investors both from Qatar and abroad.
I believe that Qatar will one day become one of the most important commercial centres in the world, just like Singapore and Hong Kong. We have the potential to become like these countries. When Doha created Al Dafna, and towers were built there, it was the private sector that built 70-80% of them. The Pearl was also built by the private sector, where as the government focused on building infrastructure.
The same applies to Lusail. The government ensured compliance with quality standards, and so on. The same approach was followed in the manufacturing sector, as in Mesaieed Industrial City. The more opportunities the government offers, whether in manufacturing, business, real estate, or any other sector, the more creative businessmen, citizens, and entrepreneurs are.
Sheikh Mohammed Bin Faisal Al Thani: Much investment has been made in the country, especially in infrastructure. If we look at the airport today in Qatar, it is one of the leading airports globally. One of the advantages that we have today is the new port in Doha, which makes accessibility in Qatar much easier. The free zone is also one of the key strengths of the market here, offering a one-stop shop and all the foundations required for any manufacturing business. These are all aspects that provide a great opportunity for any business or investor that is looking to invest in Qatar.
Tarek El Sayed: As part of its economic diversification strategy, Qatar has been focusing on improving its hospitality sector to make it a world-class tourist destination. Al Faisal Holding has created an iconic hotel portfolio through its fully-owned subsidiary, ARTIC. As of early 2024, the ARTIC portfolio had 35 hotels, 12 of which are in Qatar. The remaining are elsewhere in the MENA region, Europe and the US. Al Faisal Holding was one of the first Qatari companies to successfully expand its operations overseas.
Sheikh Turki Bin Faisal Al Thani: Al Faisal Holding is a very diverse company that is investing in many different sectors. Having access to the knowledge of those sectors is hugely beneficial to Al Jazi Real Estate. One of the main points of knowledge that we have is the impact of digital transformation on these different sectors.
Sherif Shehata: We are starting to think about the next vision, which will focus on health IT. We will continue our business in medical equipment and pharmaceuticals, and we will expand into health IT. We managed to secure a significant countrywide project with the Hospital Information Exchange (HIE) initiative, as well as track-and-trace for medications, which will enhance healthcare services in Qatar.
Sheikh Jassim Bin Faisal Al Thani: Qatar National Vision 2030 provides the main guidelines for investors to choose the sectors they want to invest in. We are beginning to recognise that environmental, social, and governance (ESG) principles have become critically important to investors. As a private equity investor, we place great importance on ESG.
Sheikha Al Jazi Bin Faisal Al Thani: Qatar has become a cultural hub by showcasing its local heritage and also hosting and displaying its global heritage. The population of Qatar is growing at a fast pace, and it is ethnically and nationally diverse. This have provided the country an opportunity to become a cultural hub for both local and global heritage. We have created one of the largest private museums in the world, the Sheikh Faisal Bin Qassim Al Thani Museum. It houses more than 17,000 artefacts and covers over 25,000 square meters in size. The museum is a symbol of our commitment to the local community, and to nurturing a place for heritage for future generations to enjoy.
Mona El Helbawi: The museum launched an international exhibition, “The Majlis - Cultures in Dialogue,” and it has traveled to many European cities and countries, visiting under the patronage of UNESCO. Culture, education, and sports have been essential pillars at Al Faisal Holding. This is due to the vision of the founder, Sheikh Faisal, over the past 40 years.
This focus comes not just from his vision, but also, I believe, from a true passion for investing in future generations. Many organizations have been established within the sports sector, such as the Sheikh Faisal Sports Academy, which is affiliated with various national federations in Qatar and the Olympic Committee. We also have the Al Samriya Riding School, which operates in line with international equestrian standards in terms of facilities and programs.
Mohammad Ramahi: Al Faisal Holding operates in a dynamic environment, leveraging the strength of its diversified operations. This diversification allows us to mitigate risks and navigate fluctuations in economic conditions and market terms.
Ali Mahmoudy: We are a group with more than 60 years of heritage, which is why we need to have solid corporate governance that will ensure family succession, and meet business needs in a rapidly changing environment. In today's world, we are living in a very complex business environment that pushes all groups to be agile and ensures good corporate governance. This is essential to growing our footprint while preserving our heritage.
Abdulrazzaq Kuwari: Currently, Al Faisal Holding has a very robust procurement department. We focus mainly on supporting small and medium local businesses here, depending on their specialty. We look into the companies in terms of how we can support them, offering assistance to all our entities, and following international best practices.
Rashid Al Mansoori: Aamal was one of the first companies listed on the Qatar Stock Exchange (QSE) in 2007. The chairman, Sheikh Faisal, has been a key player in the Qatari economy for 60 years. When he was thinking of listing Aamal, he selected a number of companies that were suitable to be listed on the stock exchange. He thus created a catalyst and motivated other companies in Qatar to list on the QSE, as they saw the success of Aamal in capital markets. If you consider the current cost of finance, the listing of family-owned companies is a more affordable means of financing and raising capital.
Sheikh Faisal bin Qassim Al Thani: The most important element of success is adhering to highly moral values, and to want for others what you want for yourself. Do not look at competitors as enemies. The market is big enough, and each investor will get their share. You should not try to control the whole market.
If you do that, you will fail. Look at competitors as brothers, and support one another. That is better than competing. I was lucky to choose the right people to start this journey with me.
I chose people who loved to work. This is the most important pillar of success. The people working with me are more important than capital or any other factor. In the last few years, I have aimed to have an impact on the Qatari, Arab, and global societies.
I started with charity work through the Al Faisal Without Borders Foundation, which is focused on education. We try to try to educate others as much as possible; I believe that education is what matters. It is the one thing nobody can take away. If you offer someone something to eat or wear, it will be consumed quickly – but if you provide them with education, they and their family will evolve.
Sheikh Mohammed Bin Faisal Al Thani: Qatar had humble beginnings, starting with the discovery of oil. Today it has transformed into a more sustainable economy that is less reliant on the hydrocarbons sector. All this has been achieved by having a vision and a private sector that supports that vision. At Al Faisal Holding, we are very proud of what has been achieved over 60 years.
Sheikh Tamim Bin Faisal Al Thani: Al Faisal Holding is an excellent example of a small and medium-sized enterprise (SME), as it started as a small business founded by my father, Sheikh Faisal. Over time, it grew bigger and bigger, and now it is one of the most diverse companies in the country, setting an example of what can be achieved by SMEs. You always have to start with something, even if it is something small.
Sheikh Thani Bin Faisal Al Thani: I believe family businesses provide strong foundations for younger generations, as they encourage entrepreneurship. One thing that makes me proud is that we are always together. When I see people working, I see a family working.
Sheikh Khaled Bin Faisal Al Thani: If you go back 20 years, there were only a few people involved in the private sector. Today, many hundreds of Qataris are joining the private sector. They have their own businesses; it has become part of the culture. A lot of Qataris, once they grow up and finish high school, start thinking about what to do to create their own business. There is a lot of encouragement from the government for growth. There is also a lot of encouragement for foreign investment, so there is much potential to be seen over the next 10 years.
