Saudi Rich List
Wed 26 Aug 2009 07:24 AM
Al Juffali Family

Al Juffali Family

Industry: Construction & Industry

Company: E.A. Juffali & Brothers

Country: Saudi Arabia

Wealth: 1.1 Billion

Since the late 1940s, EA Juffali & Brothers has played a major role in the development of Saudi Arabia. It has introduced many new quality products, as well as innovative services and advanced technologies to the country, and has also committed itself to training Saudi youth for various areas of employment.

One of Juffali’s first major projects was to help develop Saudi Arabia’s infrastructure through the building of electric power utilities. Moving on from there, its activities extended into telecommunications, transportation, information technology and air-conditioning, as well as many other products and services.

Today, the core activities of the Juffali group include manufacturing, engineering and construction, as well as distribution and services. Its list of partners reads like a ‘Who’s Who’ of multinational corporations and includes IBM, Siemens, Ericsson, Mercedes-Benz, Michelin, Massey-Ferguson, Electrolux, Kelvinator, Carrier, Dow Chemicals, DuPont and Butler, to name but a few.

Looking forward, joint ventures and agency agreements with IBM have placed Juffali as a leader in the IT field. Its agreements with Siemens and Ericsson, which focus on products, as well as the technological aspect of telecommunications, should ensure that Juffali is well placed to benefit from the enormous growth in this sector.

The family, however, was struck by tragedy in June last year, when Tarek Ahmad Al Juffali passed away in London at the age of 40. He followed his grandfather, his father Ahmed and his uncle Ali to the grave, leaving behind him one of the biggest industrial conglomerates in the region, as well as sister Maha, his brothers Waleed and Khaled, and mother Suad.

His legacy was the Tarek Ahmad Al Juffali Foundation, founded in 2006. A Saudi private national foundation incorporated in the Bahamas and based in Beirut, it provides support to individuals, charities, and non-profit organisations in various areas, delivering food, shelter, healthcare and education.