Six Qatari firms feature in Forbes real estate leaders list

The Forbes Middle East list for Most Impactful Real Estate Leaders 2024 is out and features six prominent leaders from the Qatar real estate market. The annual listing recognizes innovation-driven regional developers building for the future.

The ranking was developed based on the company’s financials, the value of projects completed, projects under construction, the reputation of project delivery, and the size of the landbank and units held by the developer.

Qatar’s real estate market is the cornerstone of its economy and it continues to have promising long-term potential. Robust economic growth, expanding population, and government investment have all contributed to the increasing demand for real estate.

Here are the top Qatari leaders featured in the Forbes Middle East list for Most Impactful Real Estate Leaders 2024. 

Forbes Ranking # 88

Mohammed Bader Al Sadah

Group CEO - Estithmar Holding

Al Sadah was appointed to his current position in September 2023. Estithmar Holding is the developer of Al Maha Island and Lusail Winter Wonderland in Qatar, among other projects developed, including 357 units as of December 2023. The company also has operations in the hospitality sector, including luxury resorts such as Maysan LXR Hilton and Katara Hills LXR Hilton. In June 2023, the company signed three MoUs with the Iraqi National Investment Commission, with a total value of $7 billion, to develop two modern residential cities and five-star hotels and manage and operate several hospitals. In 2023, the company recorded net profits of $96.8 million and had $2.5 billion in total assets. Al Sadah is also a board member of both the Qatar Development Bank and the Al-Hosn Investment Company.

Forbes Ranking # 85

Ali Al Kuwari

CEO - Msheireb Properties

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.

Forbes Ranking # 63

Hamad Bin Mohammed Al-Thani

CEO - Mazaya Real Estate Development

Established in 2008, Mazaya had 1,937 completed units. In the first nine months of 2023, the company reported $6 million in net profit and total assets worth $622.4 million. In May 2023, the company purchased a plot of land in the Al Kharaej area in Lusail City for $5.6 million. In November 2023, the company acquired the 11,366 square meter Gold Plaza complex in Abu Hamour for $49.5 million. It had a market cap of $216.3 million as of November 14, 2023. Al-Thani is also a board member at Milaha and Nakilat.

Forbes Ranking # 18

Hani Dabash

Deputy Group CEO - Ezdan Holding Group

Established more than 60 years ago, Ezdan Holding Group today has ongoing developments totaling 32,000 units, 3,197 hospitality units, and three malls. The total value of the group’s completed projects is $12.3 billion. In the first nine months of 2023, the group recorded a net profit of $60.3 million and total assets of $12.9 billion. It had a market cap of $6.4 billion as of November 14, 2023. In 2022, the group announced that it would be providing green spaces in all its residential complexes and diversifying its investments within hospitality, commercial malls, and residential real estate. Dabash was appointed as the Group Deputy CEO in August 2020.

Forbes Ranking # 12

Abdulla Jobara Alromaihi

Group CEO - BARWA Real Estate

Abdulla Jobara Alromaihi has been overseeing BARWA Real Estate since he was appointed acting CEO in 2020. Established in 2005, BARWA today has 5.5 million square meters of built-up area under operation. It has projects in Qatar, including Asas Towers and Barwa Village, and other countries, including the North Row building in London and Larnaca Land in Cyprus. In February 2022, BARWA announced the sale of its stake in the Al Imtiaz Investment Group in a deal worth $103 million. In the first nine months of 2023, the company recorded total assets of $11.3 billion and net rental income of $246.5 million. It had a market cap of $2.9 billion as of November 14, 2023. BARWA is 45% owned by Qatari Diar. Alromaihi is also the chairman of Qatar Project Management.

Forbes Ranking # 5

Abdullah bin Hamad Al Attiyah

CEO - Qatari Diar

Qatari Diar was founded by the Qatar Investment Authority 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. 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. Its ongoing projects include Diar Ras Al Hadd in Oman and CityGate in Egypt. 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. Al Attiyah is also the deputy chairman and board member of Katara Hospitality since March 2021.

---

Make sure to check out our social media to keep track of the latest content.

Facebook: Qatar Living Properties

LinkedIn: Qatar Living Properties

Instagram: qatarlivingproperties

YouTube: Qatar Living Properties

TikTok: @qatarlivingproperties