Latest news with #AlMuhaidibGroup
CairoScene
26-05-2025
- Business
- CairoScene
Talaat Moustafa Group to Build Its First Mega Project in Iraq
Backed by a Saudi partnership, TMG's first project in Iraq is a mixed-use development on the outskirts of Baghdad. May 26, 2025 Talaat Moustafa Group Holding (TMG) is entering the Iraqi market with plans to build a 14 million square metre mixed-use development southwest of Baghdad. The new city will include around 46,000 residential units, designed around the group's community model with smart infrastructure and integrated public services. The project is being launched through TMG's Saudi subsidiary, a joint venture with the AlMuhaidib Group, one of the region's most active investment firms with stakes in companies like ACWA Power and Riyadh Cables Group. Expected to generate USD 17 billion in total sales and USD 1.5 billion in recurring annual income once completed, the city will follow TMG's self-financing model. With Iraq experiencing renewed investment interest and facing a shortage of high-quality housing, TMG's entry is both a strategic expansion and a response to a growing market gap in urban development.
Trade Arabia
12-05-2025
- Business
- Trade Arabia
Al Muhaidib Group tops Forbes Arab Family Businesses list
Saudi Arabia's Al Muhaidib Group, led by Group Chairman Sulaiman Al Muhaidib, takes the top spot in the Forbes Middle East Top 100 Arab Family Businesses 2025 list, rising rising from eighth place last year. Returning to second place is Abdul Latif Jameel, spearheaded by Chairman Mohammed Abdul Latif Jameel, while the Al-Futtaim, helmed by Vice Chairman and CEO Omar Al Futtaim, rounds out the top three. Forbes Middle East unveiled its annual ranking of the Top 100 Arab Family Businesses for 2025, spotlighting the region's most influential dynasties navigating transformation and innovation while preserving generational wealth. To compile this ranking, Forbes Middle East evaluated companies that are owned or managed by Arab families. The selection was based on several factors, including the size and value of their assets, business performance, recent activity, company age and legacy, and the breadth of their geographic and sector diversification. GCC-based families continue to dominate the Arab family business landscape. This year, Saudi Arabia leads with 33 entries, followed closely by the UAE with 32, and Qatar with eight. Collectively, these countries account for over 73% of the ranking. The Al Muhaidib Group made headlines in February 2025 when the Public Investment Fund acquired a 30% stake in its subsidiary, Masdar Building Materials. Others in the top 10 include Mansour Group, Damac Group, Olayan Financing Company, Majid Al Futtaim, Al Ghurair, Al Faisal Holding, and Power International Holding. Notably, Egypt's Mansour Group remains the only non-GCC-based conglomerate in the top 10. Two newcomers have entered the top 10 elite cohort this year: Power International Holding and Al Faisal Holding, both based in Qatar, reflecting the growing economic influence of Qatari family businesses. While many listees were founded before the 1950s — including some with 19th-century origins — others are newer entities born of strategic mergers or spin-offs. Morocco's O Capital Group and Saudi Arabia's Sultan Holding Company exemplify this trend, showcasing how legacy families continue to evolve and consolidate to meet modern demands.
Zawya
12-05-2025
- Business
- Zawya
Forbes Middle East reveals the Top 100 Arab Family Businesses 2025
Saudi Arabia and the UAE dominate, with 33 and 32 companies, respectively. Saudi Arabia's Al Muhaidib Group and Abdul Latif Jameel top the list. Sustainability and innovation are at the heart of the strategies of these leading families. Dubai: Forbes Middle East has unveiled its annual ranking of the Top 100 Arab Family Businesses for 2025, spotlighting the region's most influential dynasties navigating transformation and innovation while preserving generational wealth. To compile this ranking, Forbes Middle East evaluated companies that are owned or managed by Arab families. The selection was based on several factors, including the size and value of their assets, business performance, recent activity, company age and legacy, and the breadth of their geographic and sector diversification. GCC-based families continue to dominate the Arab family business landscape. This year, Saudi Arabia leads with 33 entries, followed closely by the UAE with 32, and Qatar with eight. Collectively, these countries account for over 73% of the ranking. The Al Muhaidib Group, headquartered in Saudi Arabia and led by Group Chairman Sulaiman Al Muhaidib, takes the top spot, rising from eighth place last year. The group made headlines in February 2025 when the Public Investment Fund acquired a 30% stake in its subsidiary, Masdar Building Materials. Returning to second place is Abdul Latif Jameel, spearheaded by Chairman Mohammed Abdul Latif Jameel, while the Al-Futtaim, helmed by Vice Chairman and CEO Omar Al Futtaim, rounds out the top three. Notably, Egypt's Mansour Group remains the only non-GCC-based conglomerate in the top 10. Two newcomers have entered the top 10 elite cohort this year: Power International Holding and Al Faisal Holding, both based in Qatar, reflecting the growing economic influence of Qatari family businesses. While many listees were founded before the 1950s—including some with 19th-century origins—others are newer entities born of strategic mergers or spin-offs. Morocco's O Capital Group and Saudi Arabia's Sultan Holding Company exemplify this trend, showcasing how legacy families continue to evolve and consolidate to meet modern demands. Sustainability and innovation are at the heart of several family firms' strategies. Alghanim Industries introduced electric vehicles to Kuwait, and AW Rostamani Group brought EVs to the UAE, signaling a regional shift toward cleaner energy solutions. Top 10 Arab Family Businesses In The Middle East 2025 1| Al Muhaidib Group Country: Saudi Arabia Established: 1946 2| Abdul Latif Jameel Country: Saudi Arabia Established: 1945 3| Al-Futtaim Country: U.A.E. Established: 1930 4| Mansour Group Country: Egypt Established: 1952 5| DAMAC Group Country: U.A.E. Established: 1982 6| Olayan Financing Company (OFC) Country: Saudi Arabia Established: 1947 7| Majid Al Futtaim-Holding Country: U.A.E. Established: 1992 8| Al Ghurair Country: U.A.E. Established: 1960 9| Al Faisal Holding Country: Qatar Established: 1964 10 | Power International Holding (PIH) Country: Qatar Established: 2011 About Forbes Middle East Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East's most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online. Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives. Media contact: Basma Aly Sadek: basma@
Zawya
04-04-2025
- Business
- Zawya
Saudi billionaires back on Forbes' list with combined assets of $55.8bln
RIYADH — Fifteen Saudi business leaders found a place on the annual World's Billionaires list, released by Forbes magazine. The number of Saudi billionaires listed on Forbes rose from 10 in 2017 to 15 in 2025 when this year marked Saudi Arabia's return to the Forbes list after a hiatus of eight years. Saudi Arabia has the largest number of Arab billionaires, with 15 billionaires with a combined total assets of $55.8 billion, followed by the UAE and Egypt with five billionaires each, worth $24.3 billion and $20.6 billion, respectively. Out of 15 Saudi billionaires in the list, 14 are new billionaires thanks to their stakes in companies listed on the Saudi stock market, which has seen a surge in initial public offerings following the outbreak of COVID-19 pandemic. The only returnee to the list is Prince Alwaleed bin Talal, the richest Saudi and the richest Arab in the world, with a fortune estimated at $16.5 billion. About 40 percent of that lies in his ownership stake in Saudi-listed Kingdom Holding, which has investments in the Four Seasons hotel chain, the George V hotel in Paris and had an estimated low-single-digit stake in X (formerly Twitter) alongside Elon Musk. Prince Alwaleed last appeared on Forbes' billionaires list in 2017, worth an estimated $18.7 billion. The Saudi billionaires range from the founder of a hospital group, to an operator of grocery stores and malls, to the scion of a prominent banking family, in addition to those who made leadership role in media and energy sectors. Fourteen Saudi billionaires on this year's list are all newcomers. Six are founders or cofounders who listed their company's shares on the Saudi stock exchange in recent years. That includes the second wealthiest Saudi, Sulaiman Al Habib, with a fortune of $10.9 billion. He is the founder and chairman of Riyadh-based hospital group Dr. Sulaiman Al Habib Medical Services Group, known as HMG. Al Habib, a trained pediatrician, launched the group in 1995 and took it public on the Saudi stock exchange in 2020 and he owns a 40 percent stake. Other billionaires have inherited and built on their family fortunes. They included businessmen from the Al Muhaidib Group, with Emad Al Muhaidib coming in third with $3.8 billion, followed by Essam Al Muhaidib and Sulaiman Al Muhaidib with fortunes of $3.6 billion each. Brothers Emad, Essam and Sulaiman Al Muhaidib took over Dammam-based conglomerate Al Muhaidib Group, founded by their late father Abdulkadir, after his death in 1996 and expanded it into consumer products, infrastructure, construction, real estate and finance. Mohammad Abunayyan, one of the most prominent investors in the energy and utilities sector, with a fortune estimated at $3.2 billion, came in the sixth place. In the banking and retail sectors, Abdullah Al Rajhi and Abdullah Al Othaim, with equal fortunes estimated at $2.5 billion each, shared the seventh rank. Abdullah Amer Al Nahdi, founder and vice chairman of Al Nahdi Medical Group, the largest pharmacy chain in the Kingdom, came in the 8th position with a fortune of $2.3 billion while Waleed Al-Ibrahim, founder and chairman of MBC Group, with an estimated net worth of $1.4 billion ranked 9th. Khaled Abdul Rahman Al-Rajhi, chairman of Abdulrahman Saleh Al-Rajhi & Partners, and Yousuf Mohammad Jamjoom, founding member of Jamjoom Pharmaceutical Industries, with an estimated net worth of $1.2 billion each came in the 10th position. Hamad Ali Al-Sagri, vice chairman of Leejam Sports Company and owner of the Fitness Time gym chain, with an estimated net worth of $1.1 billion; and brothers Ammar Soliman Fakeeh, chairman of Fakeeh Care, and Mazen Soliman Fakeeh, chairman of Fakeeh Care, with an estimated net worth of $1 billion each, are other billionaires in the list. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Gulf Insider
03-04-2025
- Business
- Gulf Insider
Saudi Billionaires Back On Forbes' List With Combined Assets Of $55.8 Billion
Fifteen Saudi business leaders found a place on the annual World's Billionaires list, released by Forbes magazine. The number of Saudi billionaires listed on Forbes rose from 10 in 2017 to 15 in 2025 when this year marked Saudi Arabia's return to the Forbes list after a hiatus of eight years. Saudi Arabia has the largest number of Arab billionaires, with 15 billionaires with a combined total assets of $55.8 billion, followed by the UAE and Egypt with five billionaires each, worth $24.3 billion and $20.6 billion, respectively. Out of 15 Saudi billionaires in the list, 14 are new billionaires thanks to their stakes in companies listed on the Saudi stock market, which has seen a surge in initial public offerings following the outbreak of COVID-19 pandemic. The only returnee to the list is Prince Alwaleed bin Talal, the richest Saudi and the richest Arab in the world, with a fortune estimated at $16.5 billion. About 40 percent of that lies in his ownership stake in Saudi-listed Kingdom Holding, which has investments in the Four Seasons hotel chain, the George V hotel in Paris and had an estimated low-single-digit stake in X (formerly Twitter) alongside Elon Musk. Prince Alwaleed last appeared on Forbes' billionaires list in 2017, worth an estimated $18.7 billion. The Saudi billionaires range from the founder of a hospital group, to an operator of grocery stores and malls, to the scion of a prominent banking family, in addition to those who made leadership role in media and energy sectors. Fourteen Saudi billionaires on this year's list are all newcomers. Six are founders or cofounders who listed their company's shares on the Saudi stock exchange in recent years. That includes the second wealthiest Saudi, Sulaiman Al Habib, with a fortune of $10.9 billion. He is the founder and chairman of Riyadh-based hospital group Dr. Sulaiman Al Habib Medical Services Group, known as HMG. Al Habib, a trained pediatrician, launched the group in 1995 and took it public on the Saudi stock exchange in 2020 and he owns a 40 percent stake. Other billionaires have inherited and built on their family fortunes. They included businessmen from the Al Muhaidib Group, with Emad Al Muhaidib coming in third with $3.8 billion, followed by Essam Al Muhaidib and Sulaiman Al Muhaidib with fortunes of $3.6 billion each. Brothers Emad, Essam and Sulaiman Al Muhaidib took over Dammam-based conglomerate Al Muhaidib Group, founded by their late father Abdulkadir, after his death in 1996 and expanded it into consumer products, infrastructure, construction, real estate and finance. Mohammad Abunayyan, one of the most prominent investors in the energy and utilities sector, with a fortune estimated at $3.2 billion, came in the sixth place. In the banking and retail sectors, Abdullah Al Rajhi and Abdullah Al Othaim, with equal fortunes estimated at $2.5 billion each, shared the seventh rank. Abdullah Amer Al Nahdi, founder and vice chairman of Al Nahdi Medical Group, the largest pharmacy chain in the Kingdom, came in the 8th position with a fortune of $2.3 billion while Waleed Al-Ibrahim, founder and chairman of MBC Group, with an estimated net worth of $1.4 billion ranked 9th. Khaled Abdul Rahman Al-Rajhi, chairman of Abdulrahman Saleh Al-Rajhi & Partners, and Yousuf Mohammad Jamjoom, founding member of Jamjoom Pharmaceutical Industries, with an estimated net worth of $1.2 billion each came in the 10th position. Hamad Ali Al-Sagri, vice chairman of Leejam Sports Company and owner of the Fitness Time gym chain, with an estimated net worth of $1.1 billion; and brothers Ammar Soliman Fakeeh, chairman of Fakeeh Care, and Mazen Soliman Fakeeh, chairman of Fakeeh Care, with an estimated net worth of $1 billion each, are other billionaires in the list.
