Seven Qatari family-owned companies have secured spots on the prestigious Forbes Middle East Top 100 Arab Family Businesses list for 2024. This achievement highlights the strength and influence of Qatari family conglomerates within the broader Arab world.
The list, published in the March issue of Forbes Middle East, recognizes leading family-run businesses across the Arab region. These businesses are not only economic powerhouses but are also seen as custodians of tradition and cultural heritage.
Among the Qatari companies honored this year is Al Faisal Holding, which ranked an impressive 11th. Founded by Faisal bin Qassim Al Thani, Al Faisal Holding boasts a diverse portfolio encompassing investments, real estate, and industrial sectors. Power International Holding (PIH) also achieved a strong showing, coming in at 12th place. PIH, led by President and Group CEO Ramez Al Khayyat, is a second-generation conglomerate with a presence in general contracting, food production, real estate, and hospitality.
Other notable Qatari inclusions on the list are Alfardan Group (ranked 17th), Darwish Holding (ranked 63rd), Almana Group (ranked 73rd), Abu Issa Holding (ranked 83rd), and Al Muftah Group (ranked 100th). These companies represent a wide range of industries, including automotive dealerships, consumer goods distribution, and construction.
Qatar's success in this year's ranking reflects the growing prominence of its family-owned businesses. These companies have played a pivotal role in the country's economic diversification efforts, reducing its dependence on the hydrocarbon sector. Many of these businesses are not only dominant players within the Qatari market but also have a significant regional and international presence.
The recognition by Forbes Middle East further underscores the resilience and adaptability of Qatari family businesses. Having weathered global economic challenges, these companies continue to demonstrate their commitment to innovation and long-term growth. The ranking also serves as a testament to the strong leadership and vision of the families behind these successful enterprises.