Building a modern Qatar

Qatar’s transformation from a modest fishing and pearl-diving economy to one of the wealthiest nations per capita is a story of remarkable development. In the late 20th century, the discovery and strategic exploitation of vast natural gas reserves catapulted the country onto the global stage. Its North Field, the largest single natural gas field in the world, became the foundation of Qatar’s meteoric rise.

Today, Qatar is a beacon of modernity and ambition, boasting world-class infrastructure, a thriving aviation hub and iconic urban landmarks such as The Pearl Island Qatar and Lusail City. As the nation invests heavily in education, technology and sustainable energy, Qatar continues to grow as one of the fastest-growing economies in the region while maintaining its cultural heritage.

For over 50 years, Mohamed Bin Hamad Holding Group (MBHH) has been contributing to Qatar’s development, helping make it one of the best places to live, work and do business. Founded by Sheikh Mohamed Bin Hamad Abdullah J Al Thani, the company has successfully developed business interests in a variety of industry sectors, including real estate investment and development, property management, hospitality, travel and tourism services, healthcare and many others.

Early foundations

Having taken over from his father as Chairman in June 2024, Sheikh Jassim Bin Mohamed Al Thani reflects on his career leading up to this point.

“I’ve been with the company for 13 years, and my first role was to consolidate all our companies under a single umbrella,” Al Thani says. “This led to the creation of MBHH, and it was a great experience. By understanding the foundation of our company, it makes it easy to build on it.”

Yet despite his knowledge and experience of the family business, Al Thani is mindful of the challenges in the current global economy.

“From 2019 onwards we’ve been going through a period of high inflation and interest rates, as well as the COVID-19 pandemic,” he says. “Our biggest challenge at the moment is the geopolitical situation, including the war in Gaza, Lebanon, as well as tensions elsewhere across the region.”

As one of Qatar’s leading business enterprises, MBHH is committed to promoting the Qatar Economic Vision 2030 – a strategic plan aimed at transforming Qatar into an advanced society capable of sustaining its development and providing a high standard of living for its people by 2030.

Future vision

MBHH intends to achieve this by contributing to the future growth, success and prosperity of the nation.

“Real estate, healthcare and hospitality are the core of our business,” Al Thani explains. “Looking at what we have and what needs to be merged into the company, I’ve decided to diversify our business by getting more into technology, which is booming across the region. This includes the drone industry, which is not very well established in Qatar, yet, as well as robotics.”

Indeed, the Qatar Economic Vision 2030 emphasizes the importance of embracing cutting-edge technologies, including robotics and drones, to drive economic growth and improve the quality of life for its citizens. The plan includes several initiatives aimed at integrating these technologies into various sectors such as industrial automation, healthcare and research, all areas that MBHH is well positioned to innovate.

Fortunately for Al Thani, it remains a family business, which aids strategic planning.

“With the company shareholders, we’re all brothers and sisters, which helps us align our views. Having all the shareholders behind you is a big asset for any leader and a real benefit for the group,” he says.

“As the organization, we’re trying to ensure we are in the right position for what’s to come. For instance, now that interest rates are going down, we need to switch from deposits to getting into the stock market.

“There is a big opportunity in the Qatari stock market, especially since we’ve seen many stock markets across the region go up except the Qatari one. I believe that means it’s coming, and we need to be ready for the next 12 months to take that opportunity.”

Leadership lessons

Despite the changes in regional markets and geopolitics, Al Thani remains level-headed, a trait he learned from his father.

“We here at MBHH are not big risk-takers. The biggest risk my father took was building a Doha clinic hospital where there were no private hospitals around. Back then that was a big thing in the country,” he says.

“He took the risk, but it was a planned risk. Everything was planned from the start, including what happens if it fails. That’s what differentiates us from other holding companies; we study our risks very carefully.”

Another key lesson Al Thani continues to practice is the importance of honesty.

“Honesty in business and life means everything,” he says. “This is one of the top priorities that my father used to have when establishing any company and dealing with other people.

“When you have honesty between one or two parties, then you can build on it. Nothing is impossible in life, except if you’re not honest, then you lose the opportunity.”

A solid reputation

This especially applies to MBHH’s relationships with its many customers and suppliers.

“For the tenants that rent from us, if they don’t pay us straight away, we don’t take action straight away,” he says. “We wait for them. Likewise, when dealing with our suppliers, we pay a month or two ahead, because it’s all about respect and honesty.”

For Al Thani this is not just a matter of morals; it has real benefits, particularly since Qatar is such a small country.

“Having a good name in the market leads to good things. After all, here in Qatar, we personally know many of our customers and suppliers,” he says. “If I didn’t deal with them in a good way, I’m likely to see them at a social event. It’s always like that in Qatar; it’s a very connected country, so having a good name means a lot.”

Fortunately, with MBHH’s reputation for business excellence and its commitment to supporting the Qatar Economic Vision 2030, the organization is well placed to grow further under Al Thani’s leadership.

“My advice to other entrepreneurs is don’t be afraid to start a business; you just need to find the right team. Admittedly it takes time to find them, but once you do, you’ll want to maintain them forever. Surround yourself with the right people, keep them close and listen to their advice, that’s the key.”