Aamal Company was formed on January 13, 2001 as a private shareholding company in Qatar. It has interests in property, trading, leisure and construction. The business was launched on the Doha Securities Market with paid up capital of QAR3.45bn ($947.6m) in December 2007 – the figure has since increased to QAR3.79bn ($1.04bn).
Like other companies on this list, the past 12 months have proved financially lucrative for Aamal during what many consider the worst economic downturn in recent memory. When announcing its 2008 financial results, the company revealed its revenues rose 21 percent to QAR651m ($178.8m), while operating profits increased by the same margin to QR153m ($42m).
“While Aamal Company became listed in Doha Securities Market at the end of 2007, it is in 2008 that the real journey has commenced; it was by all measures a thriving and challenging experience and we are keen to carry on our success through out the coming years,” said Aamal’s chairman and CEO, Sheikh Faisal bin Qassim Al-Thani.
He added that government initiatives to encourage investment in various sectors contributed to Aamal and other Qatari companies’ 2008 revenues.