Doha, Qatar: Aamal Company stands out as a leading model of a diversified economic group in line with the national vision that places sustainability and income diversification at the core of its priorities. It has successfully aligned with these goals through balanced performance and strategic investments in vital sectors including industry, real estate, trade, and services, said Sheikh Mohammed bin Faisal (pictured), Vice Chairman and Managing Director of Aamal Company.
In a comprehensive discussion on performance, achievements, and future plans recently Sheikh Mohammed bin Faisal Al Thani highlighted Aamal’s financial performance, key achievements, and outlined its future plans in energy, sustainability, and social responsibility in light of the rapidly evolving global economy. He unveiled the next chapter for Aamal Company. From industrial acquisitions to real estate expansion and medical digitization, Aamal affirmed its leadership in the Qatari market.
Aamal delivered strong financial performance in 2024, with sustainable revenue growth reaching QR 2.1bn (up 1.1%) and a net profit of QR432.5m (up 17.7%), alongside an increase in earnings per share to QR0.069. In Q1 of 2025, revenues grew by 6.8% and net profit by 8.3%, marking a strong start to the year. The company also distributed a 6% dividend to shareholders, supported by a solid balance sheet and reduced debt (gearing ratio 2.52%).
Regarding the focus on industrial acquisitions, Sheikh Mohammed said, “These acquisitions align with our strategy to strengthen our industrial presence. This includes full ownership of companies such as Advanced Pipes and Casts and Ci San Trading, and increasing our stake in “Frijns Steel Construction Middle East” to 40%. Additionally, we established a new company in Saudi Arabia to support regional expansion in the industrial and construction sectors.”
He noted that Al-Sewedi Cables has solidified its position in the local market as a strategic partner for infrastructure projects. “We recently signed a contract worth QR1bn, awarded in the second half of last year. We also have a backlog of contracts worth around QR3bn from previous years, which we will begin delivering according to a scheduled timeline.”
About the plans to expand real estate portfolio, Managing Director of Aamal said, “Our portfolio includes premium residential and commercial properties in strategic locations across Qatar, currently achieving over 95% occupancy. We have confidence in the strength of Qatar’s real estate sector and plan further expansion and upgrades in response to growing local demand, population growth, and international companies’ increasing interest to open offices in Qatar.”
Highlighting the new health insurance system impact on Ebn Sina and Aamal Medical, he said “We view the new health insurance system positively as it will strengthen Qatar’s healthcare ecosystem. It is expected to have a beneficial impact on our medical subsidiaries, Ebn Sina and Aamal Medical. Health insurance will likely drive private sector growth, increasing demand for medicines and medical equipment, and improving distribution to private pharmacies.”
He further said, Aamal adapting to digital transformation as it is now essential for business continuity and competitiveness in a fast-changing environment. “We’ve made tangible strategic progress in this area. Internally, we completed the rollout of Oracle Fusion across departments to enhance efficiency and governance. We’ve also adopted Google Cloud for hosting our websites and applications, ensuring high security and flexibility.”
“We expect strong and sustainable growth in Qatar’s services sector, supported by the increasing number of tourists, international events and conferences, and population growth — all of which drive demand for support, operations, and maintenance services.”
Sheikh Mohammed bin Faisal Al Thani reaffirmed that Aamal continues to move steadily toward its future ambitions, with a firm commitment to innovation, sustainability, and contributing to the national economy. He emphasised that the company’s agility and diversified operations provide it with a long-term competitive advantage.
