18-05-2025
Aamal charts ambitious growth path at exclusive media roundtable
Satyendra Pathak
Doha
Aamal Company, a cornerstone of Qatar's diversified economy, unveiled its bold vision for growth and innovation during an exclusive media roundtable.
Led by Aamal Managing Director and Vice Chairman Sheikh Mohamed Bin Faisal Al Thani, the company's leadership outlined its strategic roadmap, showcasing financial resilience, sectoral expansion, and a deep commitment to Qatar's National Vision 2030.
Sheikh Mohamed kicked off the session by underscoring Aamal's steady performance through 2024 and into the first quarter of 2025, driven by strong contributions from its industrial manufacturing and services sectors.
'Our diversified portfolio and strategic partnerships deliver sustainable value, positioning us to seize emerging opportunities in Qatar and beyond,' he said.
Aamal's financial health remains a key enabler, with a low debt ratio of 2.52 percent at year-end 2024 and shareholders' equity at an impressive 89 percent. Bolstered by QR229 million in net operating cash flow and a cash flow-to-net-income ratio of 1.02, the company is well-equipped to fund growth through internal resources and selective external financing.
Aamal's optimism aligns with Qatar's promising economic trajectory. The International Monetary Fund projects real GDP growth of 5.9 percent in 2026 and 7.6 percent in 2027, fueled by the North Field LNG expansion. This macroeconomic momentum, particularly in non-oil sectors, complements Aamal's strategic focus.
'We are poised to play a pivotal role in Qatar's economic diversification,' Sheikh Mohamed noted, emphasising alignment with the National Vision 2030. Aamal is sharpening its industrial focus through strategic moves, including acquisitions and portfolio optimisation.
The recent sale of a maritime vessel under Aamal Maritime Transport Services freed capital for high-growth ventures, while plans to expand the fleet are under careful review to meet rising demand. Doha Cables, a flagship subsidiary, earned recognition from Qatar Development Bank's Tasdeer program as one of Qatar's top-value exporters, reinforcing Aamal's global ambitions.
Meanwhile, new Kahramaa contracts awarded to Aamal through Al Suwaidi Cables Qatar bolster its role in national infrastructure. 'We currently have accumulated orders from contracts signed over the past two years, valued at approximately QR3 billion. Delivery will commence according to a scheduled timeline that aligns with the country's accelerated pace of new projects,' he said.
The launch of Aamal Energy marks a significant step toward sustainability. 'This new division will drive renewable energy and energy efficiency, supporting Qatar's low-carbon transition,' Sheikh Mohamed said.
Aamal's real estate portfolio remains a standout, with a 95 percent occupancy rate across its commercial and mixed-use properties. 'Ongoing refurbishments ensure our assets meet evolving market demands,' Sheikh Mohamed said.
Despite 24 years since its opening and increasing competition, he said, City Center Mall has maintained its leading position in the market, thanks to Aamal's continuous commitment to development, meeting visitors' expectations, and overall sector advancements.
The recent opening of a pedestrian bridge connecting the Doha Exhibition and Convention Center Metro Station directly to City Center Doha has had a positive impact by increasing footfall in the mall. Daily footprint to the mall through the bridge reached 15k per day.
The upcoming Arab Souq at City Center, a new project set to open soon, will add a distinctive cultural and commercial touch to the mall. It is expected to feature a diverse range of stores reflecting Arab culture, along with local products, enhancing the overall visitor experience. The Gold Souq is one of the standout additions, attracting a large number of visitors, with its appeal successfully maintained by its tenants.
Aamal's real estate portfolio also includes residential compounds and buildings in prime Doha areas such as West Bay Lagoon, Al Messila, and Al Markhiya.
New developments in Lusail and Al Wakrah are under review to capitalise on Qatar's urban expansion.
'Curated retail, entertainment innovations, and continuous upgrades sustain high footfall,' he added. The steadily growing population in Qatar, along with ongoing efforts to attract global companies to the country, are key factors driving increased demand for residential real estate in 2025 and beyond. Aamal is committed to continuously investing in its real estate portfolio to maintain its attractiveness and market value.
Aamal's healthcare segment led by Aamal Medical and Ebn Sina Medical is set to benefit from Qatar's QR22 billion healthcare investment and the rollout of a national health insurance system.
'These reforms will drive demand for pharmaceuticals, diagnostics, and medical technology,' Sheikh Mohamed said. Digital transformation initiatives are further enhancing supply chain efficiency and customer engagement. In the services sector, Aamal's acquisition and merger of Maintenance and Management Solutions (MMS) with Aamal Services has strengthened its facilities management capabilities.
'This move positions us to meet growing demand from Qatar's expanding hospitality, real estate, and public sectors,' Sheikh Mohamed said.
Aamal's commitment to corporate social responsibility (CSR) shines through its community initiatives. The second Aamal Cycling Tour, which drew over 800 cyclists, including a strong Qatari contingent, promoted health, sustainability, and unity.
'This event reflects our dedication to fostering active lifestyles and community spirit,' he said. At the recent Qatar CSR Summit, Aamal was honored with the Best Private Sector CSR Initiative award for its support of local businesses.
The company also invests in education, offering scholarships through Ebn Sina Medical to pharmacy students and forging partnerships with academic institutions.
Aamal's environmental, social, and governance (ESG) leadership sets a high standard. 'As one of Qatar's first listed companies to issue ESG reports, we're driving sustainability and governance in line with national priorities,' Sheikh Mohamed said.
With a solid financial foundation, strategic sectoral expansion, and a steadfast commitment to community and sustainability, Aamal is primed to lead Qatar's next wave of economic progress.
'Our focus remains clear: responsible growth, innovation, and meaningful contributions to Qatar's future,' Sheikh Mohamed concluded.
