Forbes Middle East recently unveiled its list of the Most Impactful Real Estate Leaders of 2024, highlighting five prominent Qatar-based CEOs.
Abdullah bin Hamad Al Attiyah, CEO of Qatari Diar, is top of the list, securing a prestigious top-five spot. Following closely is Abdulla Jobara Alromaihi, CEO of BARWA Real Estate Group, ranking among the top 12 leaders. Hani Dabash, Deputy Group CEO of Ezdan Holding Group, claimed the 18th position, while Engr. Ali Al Kuwari, CEO of Msheireb Properties, and Mohammed Bader Al Sadah, Group CEO of Estithmar Holding, secured spots in the top 85 and 88, respectively.
Qatari Diar is a subsidiary of the Qatar Investment Authority that was founded in 2005. It has a shared capital of $8.1 billion and 50 investment projects under development in 20 countries, valued at a total of $35 billion as of 2022. Its ongoing projects include Diar Ras Al Hadd in Oman and CityGate in Egypt. In November 2022, Qatari Diar opened Lusail Boulevard and Al Sa’ad Plaza, which accommodated more than 60,000 people daily during the FIFA World Cup Qatar 2022. In February 2023, the company started construction of a new phase of the CityGate project in New Cairo, with total investments of $57.3 million.
Abdulla Jobara Alromaihi is the acting CEO of BARWA Real Estate, which was founded in 2005. The company has projects in Qatar, London, and Cyprus, and has a market cap of $2.9 billion as of November 14, 2023. BARWA recorded total assets of $11.3 billion and net rental income of $246.5 million in the first nine months of 2023. Alromaihi is also the chairman of Qatar Project Management and oversaw the sale of BARWA's stake in the Al Imtiaz Investment Group for $103 million in February 2022.
Ezdan Holding Group has ongoing developments totaling 32,000 units, 3,197 hospitality units, and three malls. The group's completed projects total $12.3 billion. It recorded a net profit of $60.3 million and total assets of $12.9 billion in the first nine months of 2023. The group had a market cap of $6.4 billion as of November 14, 2023. The group announced that it would provide green spaces in all its residential complexes and diversify its investments in hospitality, commercial malls, and residential real estate in 2022.
Al Kuwari has been the CEO of Msheireb Properties since January 2023. Msheireb Properties is a subsidiary of the Qatar Foundation. Its signature project, Msheireb Downtown Doha, is a 310,000-square-meter smart and sustainable city district. During FIFA World Cup Qatar 2022, Msheireb Downtown Doha received more than three million visitors. Al Kuwari previously held senior management positions at Technip in Paris and Qatar Petroleum.
Al Sadah is the current appointee at Estithmar Holding. The company has developed several projects, including Al Maha Island and Lusail Winter Wonderland in Qatar. They also operate luxury resorts like Maysan LXR Hilton and Katara Hills LXR Hilton. In 2023, the company signed MoUs worth $7 billion to build modern residential cities, five-star hotels, and hospitals. They recorded a net profit of $96.8 million and had $2.5 billion in total assets. Al Sadah is a board member at both Qatar Development Bank and Al-Hosn Investment Company.
This recognition highlights their significant contributions to the real estate sector, reinforcing Qatar's position as a key player in the region's real estate landscape.
Source and cover image: Forbes Middle East
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