The latest issue features a pinnacle focus on the global financial crisis and what led to the markets to tumble. As well as paying tribute to several empowered women.
posted on 27/12/2006
Doha, Qatar and London, UK
Saudi Business Focus: page 104
Sheikha Hanadi bint Nasser bin Khalid Al Thani is one of Qatar’s leading business people. In her capacities as CEO of Al Waab City, Vice- Chairperson & Managing Director of Amwal and Vice President of Nasser bin Khaled Al Thani & Sons Holding Group, Sheikha Hanadi manages a broad range of businesses both in Qatar and across the region, in the fields of real estate and investment banking. Suhayb Saran and Saad Berjaoui of Saudi Business Focus Magazine interviewed Sheikha Hanadi for this issue
(Sheikha Hanadi bint Nasser bin Khalid Al Thani)
Your Excellency, we thank you kindly for giving us this interview. We wish to start by offering our congratulations to you on being honoured with a number of awards recently, such as the ‘Woman CEO of the Year’ award to you personally and the ‘Leading Investment Firm in Qatar’ award for Amwal, at the Turkish-Arab Economic Forum, in early June. What have these two awards represented to you?
I am honoured to receive the Woman CEO of the Year Award. It is wonderful to be recognized for one’s efforts. The award truly highlights the potential of Arab women entrepreneurs and the trendsetting role they play in today’s economies. I believe that with farsighted vision and perseverance backed by our rich heritage, Arab women have many opportunities to be at the forefront of the business world.
Amwal’s success started eight years ago when we became the first licensed investment firm in Qatar, under the patronage of H.H.Sheikha Moza Bint Nasser Al Misnad. Since then, the firm went though an exponential growth over the past few years which is mainly attributed to its dedicated professional team, supporting shareholders and an encouraging investment climate in Qatar. The ‘Leading Investment Firm in Qatar’ award comes as a true testament to our commitment to growing alongside the Qatari economy.
Amwal has achieved a number of ‘firsts’, such as, to name a few, being the first investment firm to obtain a license from Qatar Central Bank, the first to launch an investment portfolio in Qatar (Al-Mahfatha Portfolio), and the first firm to launch a Qatar-registered mutual fund for both Qataris and expatriates (Qatar Gate Fund). Do you see being the first to do things, in other words being innovative, as the essence of creating and sustaining a strong business?
There are several key success factors at the core of every sustainable business venture. Innovation is definitely one major factor. Indeed, we do believe in thinking “out of the box” and look for new opportunities through constant learning. Moreover, integrity is core to Amwal’s values and our commitment to maintaining the highest level of integrity is reflected throughout all aspects of our business. In particular, we are committed to adhering to international best practice reporting and corporate governance standards. Our company’s strong track record is attributable to the outstanding quality of our people. We take pride in having participated in key landmark transactions in the region and intend to build aggressively on our solid foundation through our innovative strategy and pro-active approach.
What plans do you have for Amwal in the near and more distant future?
The role of investment banking is a crucial component for increasing the efficiency of Arab economies. One of the important aspects of investment banking is restructuring family businesses, which we have started doing. The WTO will have its effect on all aspects of the economy. As you know, the biggest businesses in Qatar are family owned. These progressive Qatari family groups will need to be restructured and re-engineered to compete in the new environment. Moreover, they are increasingly looking to expand into other markets in the Middle East, transforming their local businesses into regional conglomerates. Our regional reach and private equity experience position us well to advise these families on their expansion.
With restructuring of family-run businesses, the stock market will witness an increase of IPOs and investment products like Islamic private equity and mortgage-backed securities. With these IPOs, there will emerge numerous advisory opportunities in real estate and restructuring of family groups. Each business has its own criteria and needs - be it expansion or restructuring or introducing new areas of business. In the rapidly growing Qatari economy, we aim to capitalize on the significant opportunities arising in the sector by providing the best investment banking and Asset Management services in the market.
Family businessesthat are looking at a brighter future are looking at restructuring. Most of these businesses are now in the second generation, and handing over family business from the second to the third generation is not a simple procedure. Studies have shown that this is the time where family businesses begin to break, and this is why it is important to put in place strategies and structures in finance and operations. We are seeing a growing interest in a variety of investment products. Our asset management team provides a broad range of innovative investment products that cater to the varying needs of our clients. Some of the investment funds, planned to be launched in the near future, are the MENA IPO Fund, the Islamic Private Equity/Mezzanine Fund, the Regional Real Estate Fund, and a Fixed Income Fund.
Can you tell us about the vision and the aesthetics of Al Waab City?
Al Waab Real Estate Development Projects is amongst the largest private sector real estate development project in the State of Qatar. Al Waab City Real Estate development project is founded on the principle that at the heart of every vibrant community is a public gathering space, -a community that is integrated into the existing fabric of the town. Al Waab City is developed on an area of more than 1.2 Million square metres that integrates a variety of housing types, small and large scale retail, offices, health facilities, cultural centres and a world class hotel. At the heart of it all is “Barahat Al Waab”; an urban piazza hosting an array of spectacular facilities. This will be Doha’s first urban square or piazza, filled with shade structures, water features, formal landscaping and a spectacular sunken garden.
“Barahat Al Waab” will be accessible to all residents by foot via picturesque green spaces eliminating vehicular crossings, and will be the centre of activity in Al Waab City, a place for public events, concerts and exhibitions. The project was launched in November 2005 and will be completed by the end of 2008.
You are on the Executive Committee of the World Economic Forum-sponsored Young Arab Leaders. Does this give you insights into the future of the whole region?
Being on the Executive Committee of the World Economic Forum was a great experience. Presently, I am part of the Global Leaders and I find working with the World Economic Forum an excellent opportunity to look at the world from a macro economic perspective. Not only does it provide an overall insight into the future of the whole region but it is also a great opportunity to challenge all aspects around us.
What advice would or rather do you give to young Arab entrepreneurs?
As an entrepreneur, and having founded Amwal eight years ago, I am almost tempted to say; dare to dream. However, my experience has thought me otherwise. Venturing into a new business is not an easy thing to do. Obtaining the first investment banking license in Qatar was challenging to say the least. The truth is; dreaming brings out the most creative energies in a human being, and gives you the initial fuel to get moving. But the more daring the dreams are the more solid your foundation will need to be. Having a flexible strategy, a clear plan and a dedicated team of talented professionals who believe in your vision are key success factors. Also, I advise young entrepreneurs to start small - this gives a company much flexibility to manoeuvre. Also, think of building regional partnerships as they are not just a mere source of financial capital but also a great source of knowledge sharing and transfer of expertise.
Many people say that Qatar is special. Others, the cynics, say that it is all based on gas and oil. How would you answer those cynics?
God has blessed this country with natural gas and oil reserves. Equally, God has also blessed this country with the visionary leadership of His Highness Sheikh Hamad Bin Khalifa Al-Thani. It is this extraordinary combination of vision and wealth that makes Qatar very special and one of the fastest growing economies in the world. Qatar is undertaking economical and social reforms that are paving the way to a sustainable economic development. We in Qatar are not just speaking about changes and reforms. We are living them in all aspects of our life; be it social, political and economical, while at the same time holding on to our Islamic faith and our values.
As more and more young business entrepreneurs set up businesses or take a leading role in major enterprises across the region, do you see the region’s business ethos changing?
I think that the business environment is changing positively. It is becoming more welcoming to young business entrepreneurs. Mind you, we have not yet reached the most conducive business environment encouraging entrepreneurship. It is still difficult for young entrepreneurs to set up a new business venture. In addition, for these entrepreneurs, finding the right financing for their venture is still a major obstacle. Overall, the region’s business dynamics are improving. We are on the right way.
As a trustee on the board of the Arab Women’s International Forum and the College of Business and Economics at the University of Qatar, do you see education as the vital aspect in the long-term development of Qatar’s future?
Most definitely. However, I would like to stress that academic education must come with knowledge and wisdom, as well, to be a fundamental factor in Qatar’s long-term development. Our Prophet Mohammed, PBUH, said “The search of knowledge is an obligation laid on every Muslim”, and as a mother, I try to teach my children how to reach a balance between pursuing a career and contributing to society. I believe this is every parent’s mission. We need to teach our children to take pride in their heritage and make them realize their blessings. We need to teach our children to give back to their society. Being a good Muslim is to be a responsible citizen and a successful professional.
My young daughter asks me sometimes why I am studying all the time. And I tell her that what you know is just a drop in the ocean, and you need constantly to learn new things. Self improvement is not something you will ever be done with.
