Aamal, which is one of Qatar’s largest, most diversified and fastest-growing companies, is looking to grow either organically or through new acquisitions as its vision is to be recognised as a “leader and innovator” in all the industry sectors in which it operates.
A widely diversified group, Aamal’s operations currently encompass some 26 business units. Some of these, such as Aamal Trading and Distribution and Ebn Sina Medical, have been operating in Qatar for almost 40 years and many of the company subsidiaries have market-leading positions.
In an interview with Gulf Times at his office in West Bay, Aamal CEO and managing director Sheikh Mohamed bin Faisal al-Thani said, “Our long-term vision is to be recognised as a leader and innovator within all of the industry sectors in which we operate and we continue to work towards this, generating further growth either organically or through new acquisitions.”
Aamal’s success, he stressed, “has been based upon a strategy of identifying key growth opportunities, capitalising on them through the wise deployment of capital and partnering with industry leaders who are experts in their respective fields.”
Aamal’s diversified approach is a “source of strength, providing stability and a platform to take full advantage of these opportunities” as and when they arise, Sheikh Mohamed noted.
Citing one example of Aamal’s ability to fulfil the increasingly sophisticated market demands, Sheikh Mohamed said, “We have recently announced an initiative to automate pharmacies through the implementation of Qatar’s first state-of-the-art pharmacy robot. The robot can accommodate more than 12,000 packs of medicine, very accurately and quickly dispensing medications according to patients’ prescriptions and efficiently serving the pharmacy’s customers during busy periods. The installation at our own pharmacy provides an excellent model to extend this cutting-edge technology into the market.”
Giving an update on the re-development of City Center Doha, Qatar’s leading retail and leisure destination and an Aamal subsidiary, Sheikh Mohamed said, “Work is progressing well on the re-development of City Center Doha and I am sure that visitors will be pleased with the final results. Most of the tenants are now doing the fit-out works.
Work is also progressing well at the Senyar Drum Factory, which will enhance synergies between our industrial projects. We are also evaluating other projects, which we hope to announce in due course.”
Senyar Drum Factory will specialise in the production of wooden cable drums and will be the first of its kind in the country.
Asked about the immediate goals that Aamal Group have set before it, Sheikh Mohamed said,
“Aamal is always keen to be the catalyst for innovation. Our immediate goals as a group are to instil a spirit of innovation and entrepreneurship among our employees and businesses, so enabling them to deliver new, innovative projects and solutions that will enhance our business model, drive shareholder value and benefit the Qatari economy.”
He said Aamal is focused on expanding in the Industrial sector and on capitalising on the significant demand resulting from the wider industrialisation of the Qatari economy.
“In parallel, we will continue to invest across our other businesses to enhance market position and optimise performance – for example, in 2018 Aamal expanded its footprint in the real estate sector with the acquisition of residential unit complexes. In addition, Aamal’s strong balance sheet allows the company to take advantage of any opportunities as they arise,” Sheikh Mohamed noted.
On whether Aamal is planning any overseas forays, he said, “Currently, we are focused on the local market, but we are also open to opportunities abroad if they create value for shareholders.”
Sheikh Mohamed highlighted the key role of Qatar’s private sector in achieving Qatar’s economic diversification.
“At Aamal, we are committed towards this as well as contributing more towards realising Qatar National Vision 2030 for sustainable economic development.
“As testimony to our commitment towards Qatar National Vision 2030, I am proud to highlight that Aamal is among the first publicly listed Qatari companies to voluntarily publish its ESG Report (Environmental, Social and Governance).
“Aamal’s Sustainability Framework reflects the four elements of sustainability – Business Ethics and Transparency, Workplace, Community and Environment – that support our corporate strategies for value creation in each of our operating divisions, while also aligning with the four pillars of the Qatar National Vision 2030.
“Each element of our Sustainability Framework comprises sub-areas that provide focal themes for developing specific key performance indicators or KPIs that generate financial value for our business as well as economic and social value for our key stakeholders.”
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