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Arriving for our meeting marching through a set of glass doors deeply engaged in conversation with a hands-free mouthpiece dangling from his ear, Salah Al Shamsi is clearly a man who is constantly on the move. Perhaps he’s discussing bilateral trade between the Arab world and the West in his role as president of the GCC Chamber of Commerce and Industry (CCI). Or perhaps, as chairman of Al Qudra Holding, he’s plotting, along with a colleague, which sector to break into next. Or he could even be talking sport with a fellow board member of his beloved Al Ain football club. Who knows? With Al Shamsi the possibilities are endless in more ways than one.
Apologising for being late, we get straight down to business. Just the way he likes to do things. “We have 20 companies now and by the end of the year we will have 30,” he says boldly referring to Al Qudra’s meteoric growth since launching in 2005 with a capital of AED 550 million (US $150 million).
Global force
“We don’t want to be a local company, we want to be a global one,” he adds with vigour. Having set-up operations in sectors as varied as sports management, energy and education, and with a recent deal signed with the Moroccan government to develop and work on infrastructure projects, the group looks well on the way to becoming a global force. And the financial results so far would also suggest that the Abu Dhabi-based general investment company is reaping the rewards of continually adding new businesses to its portfolio. In the first half of 2006, Al Qudra’s profits stood at US $81.7 million, blasting away the profits (US $57.7 million) achieved in the whole of 2005.
“We have so many projects at the moment and are interested in four main areas — industrialisation, real estate, privatisation and creating new companies. This year we are seeing a huge amount of growth in real estate, last year it was in the financial sector.”
Spearheading one of the largest groups borne out of the UAE’s capital, Al Shamsi has every confidence in Abu Dhabi as a global trade centre to rival its booming neighbour, Dubai. And he insists that Abu Dhabi is changing to strengthen its armoury in the battle with Dubai over foreign investment.
“In the past, the rules in Abu Dhabi did not permit us to welcome foreign investment. We didn’t have freehold properties allowing 99-year leases to foreigners and we didn’t have a place like Jebel Ali Free Zone (in Dubai). But we do now,” he says.
“Now we are focusing on industrialisation and have created so many specialised industrialised zones and are inviting companies to service their businesses there. We also have a shortage in real estate in terms of hotels, apartments and offices, so for Abu Dhabi to grow as a business centre, that will have to change,” he adds.
While Al Shamsi retains belief in the financial benefits of doing business in his native emirate, he also sees the value of investing in less developed areas of the UAE.
The chairman recently met with the crown prince of Ras Al-Khaimah (RAK) to discuss ways in which trade ties between Abu Dhabi and RAK can be developed. “We have successfully exploited various sectors in Abu Dhabi and (we) are ready to expand its specialised services (to) support this prosperous emirate (RAK),” said Al Shamsi at the meeting.
Rising costs
One of the main draws to the less developed areas of the UAE to Al Qudra could well be the cheaper cost of doing business there, compared to the rising start-up costs in Abu Dhabi and Dubai. Remaining diplomatic, Al Shamsi, as president of Abu Dhabi, the UAE and the GCC’s CCI, denies that inflation in the UAE’s two leading business centres is any cause for concern to his or other businesses in the region.
“The two main factors affecting inflation are rising oil prices and rising rents. The UAE, however, is still a very practical place to do business because of the piece of mind, the opportunities, the infrastructure and the social tolerance,” he says defensively.
“Besides, salaries are being adjusted to match inflation and there are great opportunities in the UAE — at the CCI, we are constantly looking to work with foreign agencies to improve the country’s competitiveness.”
As well as inflation, another issue that must surely be on the mind of the president of the GCC’s chamber of commerce is the tension between Israel and Lebanon, and the economic effect it will have on the region as a whole.
Playing down the blow the war has inflicted on the region’s reputation as a safe destination for foreign trade, he insists the Gulf will remain unaffected. “The GCC has remained isolated from Lebanon and Iraq and it has been able to adjust to the problems surrounding it so will be no direct effect,” he says.
More to learn
Despite holding such senior positions in both politics and business, Al Shamsi believes there is room to improve his leadership skills and urges other chief executives in the region to follow his studious example.
“I am applying to enrol on a management PHD course specialising in benchmarking — a technique to help you understand your competitors,” he says. “I think CEOs should always be on their toes to come up with and be open to new ideas, to attend courses, go to conferences, talk to other people to see what they are doing and to converge themselves with others,” he adds.
As well as building on management skills, Al Shamsi also believes that employing compliance officers, press management staff and corporate governors are additional tools that can help improve you and your business’s ability to meet the challenge of competitors.
In June, Al Shamsi announced that Al Qudra would become a public shareholding company at the start of 2007, stating that it had received state approval to sell up to 49% of shares to foreigners. He cites the reasons behind the move as having a higher participation from shareholders from all over the world, to increase capital and to bring more transparency to the company.
Strings to the bow
In addition to the plan to go public, Al Qudra’s strategy for growth since its launch has involved constantly diversifying by adding a string of new companies from different sectors to its portfolio.
Currently the Al Qudra stable includes Q Energy (natural gas distribution), Q hospitality (that owns a series of luxury restaurants in Egypt) and GEMS Al Qudra (management solutions for education centres).
Al Shamsi intends to continue adding to the lengthy list of subsidiaries — a regular task for the Al Qudra CEO.
“We are interested in building links with any markets where there is a potential to gain, such as Africa. In fact we recently met a delegation from South Africa to encourage them to invest in the UAE.”
Of all the Al Qudra subsidiaries, perhaps the one closest to Al Shamsi’s heart is the sports management arm.
“Although I don’t practice any sports, I am a big supporter of the Al Ain football club (the UAE’s most successful club and winner of the Asian Champions League in 2003) and am an honorary member of the board,” says Al Shamsi enthusiastically.
It is Al Shamsi’s passion for sport that has led to the creation of one of the largest sports management companies in the Middle East, employing over 700 people. “As you know, most (residential and hospitality) developments have a health club but developers have no experience of developing them — that is where we help — we develop it, manage it and maintain it.”
As we wrap up, Al Shamsi reveals that he has recently returned from a trip to London. I ask him if he had a chance to see any of the sights, he laughs, claiming that he never has the free time to enjoy such niceties.
And, with all his business, political and sporting responsibilities, something tells me that the non-stop chairman isn’t joking.
Posted by Informed Realist, Dubai, UAE on 27 July 2009 at 19:11 UAE time
I don't think I have ever heard Al Fahim described as a role model for the world. You might want to educate yourself a little!
Posted by temur, birmingham, United Kingdom on 17 June 2009 at 15:12 UAE time
dr sulaiyman is a role model for all the world not only muslims his vision will go far, lets just hope we get some more new big signings.
Posted by sherry, shenzhen, China on 16 May 2009 at 20:20 UAE time
Best of luck for everything!
Posted by Kawthar Saeed, Dubai, UAE on 5 January 2009 at 15:47 UAE time
Abdullatif Al Mulla is indeed a great and superb leader! I have worked with him closely in TECOM and learnt from him many good skills of leadership which I am using them in my current role. I wish him all the best in his career and may God grant him success all the time. Abdullatif, as always, you are a great leader for us!
Posted by Layla Al-Ansari, London, UK on 27 October 2008 at 16:50 UAE time
The top 100 CEO's list is highly impressive covering the biggest names from all over the gulf. However, whoever has compiled the list has definitly forgotten some notable movers and shakers in the past decade.
Dr. Abdallah AlDabbagh the CEO of Ma'aden the Saudi Arabian Minning Company has spearheaded the establishment of an entire new industry sector in Saudi Arabia. Not only is this sector viable with it's ambitious projects such as gold, alumina and phosphate projects, it is more importantly sustainable.
I am sure Dr Al-Dabbagh was not the only CEO overlooked in your report. In your next top 100 CEO's report, I suggest you undergo in-depth analysis of the gulf market and the massive changes that REALLY taking place and changing the future.
Posted by Steven on 18 September 2008 at 00:46 UAE time
Mr Al Hashimi is a fine role model for all young people in the world today, I hope that someone of his calibre and experience could help football teams like newcastle united to reach their full potential, the fans from the north-east are the kindest and best supporters in the Uk, and I imagine the people of newcastle would welcome him
Posted by Mohamade Iqbal Oojageer, Port-Louis, Mauritius on 3 September 2008 at 14:14 UAE time
Dr Sulaiman
Congratulations to you as the new big boss of Manchester City. With your massive investments, you will prove to the world, Insha Allah, your vision is gold and City can become the biggest club in the world and new English reference for quality football. I am a seasoned Sports Journalist and I can foresee success and positive revolution in British sports, especially soccer.
Posted by Biniraj, Sharjah, UAE on 29 July 2008 at 12:27 UAE time
It was indeed right decision launching of Air Arabia. I described Air Arabia as REAL AIRLINE. .. i noticed one thing that, they are on time, they are on line, they are on right price, that is what we need.
I am proud to say as a Air Arabian traveller, and I salue Mr. Adel Ali for his visions.
Posted by Ataur Rahman ,Business Development Manager, Dubai, UAE on 10 July 2008 at 20:39 UAE time
An analysis of the the top 100 in GCC reveals a shocking statistic too..63% of them are from UAE, 14% Saudi, 13%Kuwait, 6% Qatar, 4% Bahrain.
More shocking to me is that in Energy sector only there are 4%..in construction 4% Media & Marketing, 4% Politics & Economic 4% Banking & Finance 20% Real estate 23%
Why inspite of all the boom in petrol price there are just 4% of them belongs to this sector. I demand an explanation.
Posted by john, New York, US on 25 May 2008 at 16:48 UAE time
Dubai's real estate watchdog on Sunday launched its own magazine in an effort to address investor concerns over a lack of transparency in the market.
Posted by Mr George Osei, accra, Ghana on 11 May 2008 at 17:29 UAE time
Dear Friend,
My name is Mr. George Osei,I work with a Bank as a manager, in one of the commercial banks in Accra-Ghana west Africa. I have packaged a transaction that will be of mutual benefit to us. As the branch manager of the Bank Ghana, it is my duty to send a financial report to my head office in the capital city, Accra, at the end of each financial year.Following the release of the second quarter financial report, ending June 2007, I discovered that my branch made a substantial profit which accrued from the account of the Inland Revenue Service (IRS).
This was not detected by the internal auditors from my head office. I have diverted the funds into what the bank call Escrow Call Account with no beneficiary. Meanwhile as you know I can not be directly connected to this money for obvious reasons. So my contacting you is for you to assist me receive this fund in your country which I know is possible if you liaise properly with me and get a consideration share of the total funds as your benefit.
The transfer would be a Bank-to-Bank transaction. All I need from you is to stand claim as the original depositor of this fund. I will compute your particulars as the person who made the deposit in my branch into our computer data base, so that my head office will immediately order the transfer to your designated bank Account. Thanks for your understanding and co-operation. Please you can indicate your interest by sending me a return mail. While I implore you to maintain the absolute secrecy and confidentiality required in this transaction I am waiting for your positive response.
Yours truly,
Mr.George Osei
Show all comments
Posted by stuart mayhead, Abu Dhabi, UAE on 21 April 2008 at 09:21 UAE time
Hi Len if you visit www.artinthecity.com you will find and Art Map of Abu Dhabi, Dubai and Sharjah which shows all the local galleries and has a calendar of events noting all the exhibitions. If you sign up for them you will receive fortnightly reminders.
Posted by len on 20 April 2008 at 14:15 UAE time
I'm looking for modern art galleries in your country. Can you help me with a list?
Editor's Reply Kindly visit www.timeoutdubai.com for a full list of art galleries in Dubai, or www.timeoutabudhabi.com for a full list in the capital.
Posted by Nabil Alwakidi, jeddah, KSA on 13 April 2008 at 10:24 UAE time
Dear Abdulkareem,
Perfect person on the right place, very difficult to find some one like you. this comment will show you how much we like your job.
Best of luck for everything!
Cheers,
Nabil Alwakidi
Posted by shahla naim, AbuDhabi, U.A.E on 19 March 2008 at 11:18 UAE time
Success, from my point of view is 10%luck, 40%study, 50% hard work. Upon reading this article, I think am still at the first 10%.
Posted by Nasrin Quraishi, Chennai, India on 5 March 2008 at 15:03 UAE time
Good Evening,
I am very happy and proud that I am living in this world where HRH Mr.Abdullah Al Awadi is living. I pray Almighty God to work under him atleast for a year.
Thank you
Posted by Safwat Faroun, Ramallah, Palestine on 13 February 2008 at 19:20 UAE time
I am currently residing in the west bank, and I am looking for jobs. Your Arabbusiness could be of indispensable value to me. Keep up the good work!
Posted by Jehad M. Shaban, Kuwait, Kuwait on 9 December 2007 at 15:57 UAE time
As per your Arabic article of the top 100's CEO's in the GCC, would you kindly correct Mr.Abdullah Al Awadi's name in Arabic to: عبد الله العوضي and the company name to: Al-Ahlia Holding Company. Thank you.
Posted by Nand, Riyadh, Saudi Arabia on 9 December 2007 at 11:41 UAE time
Wonder what standing Saudi ARAMCO has? Is it not among the most admired companies in the GCC?
Posted by Prabal Rai, kathmandu, nepal on 6 December 2007 at 12:07 UAE time
Dear Sir,
How possibly I can contact direct to Amir Alwalid Bin Talal for my own personal plea concerning my occupational hazzards in compny own by him? Please guide me in this regards.
Yours truly
Prabal Rai
Kathmandu Nepal
Posted by Ibrahim, Abu Dhabi, UAE on 6 December 2007 at 09:43 UAE time
I've worked in the oilfield since 1989, mostly in the UAE but also all over the MENA region, and this is the first time I've heard of this company (SS Lootah). What about Al-Dulaimi group (Qatar) or Mohammed Barwani (Oman) or AlMansoori (UAE)? I wonder what the definition of "Energy Industry" is? I suspect the people who selected the winners don't understand how our industry works.
Posted by Omair bin Zahid Al Husain on 5 December 2007 at 22:07 UAE time
It is interesting information. Being an entrepreneur myself, I don't mind knowing who could be of advantage to me and where I can find products and/or services I need. I wonder what was the criteria for selection though, but a wiseman said that the modern day winner in the corporate world is the one who could "learn, unlearn and relearn!" Keep us up to date Arabian Business.com. Thank you very much.
Posted by Nikhil Sindhu on 5 December 2007 at 19:03 UAE time
Thank you Anil for the insight about an extraordinary person.
Posted by Faris AlQURESHI, Riyadh, Saudi Arabia on 5 December 2007 at 12:53 UAE time
Dear Anil,
The best best interview for the most admiring and decent personality.
Best of luck for everything!
Cheers,
Faris
Posted by Prof Philbert, Salmiya/ Kuwait, Kuwait on 5 December 2007 at 10:57 UAE time
If the company is going to achieve something of some recognition, they must follow three I's - Innovation, Infrastructure and Integration.
Innovation is importnat to give the company an ability to extend the product and service life cycle from point of stagnation to new thinking - a sort of sigmooid curve that repeats itself - saying in simple words - an old wine in a new bottle.
Infrastructure for aiding innocation is another key dimension that can add value to corporate growth. A CEO must take a balaced scorecard to organizational development.
Integration is keeping all elements of the orgnization togehter and take a unified approach to the big picture.
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