Jaidah Group is one of the oldest and most established companies in Qatar. The group’s expansion from traditional sectors such as trading furniture and vehicles into the industrial and energy sectors shows the business is willing to diversify in order to take advantage of the opportunities created by Qatar’s evolving economy.
With Doha’s position as the world’s largest exporter of liquefied natural gas (LNG) and with an oil production rate of 1.2 million barrels a day, Jaidah’s decision to move into the energy sector should prove a lucrative one.
Having formed partnerships with state energy firms and international oil and gas services companies, Jaidah has access and contacts in the sector. Qatar recently completed a major investment programme to expand its liquefied natural gas export capacity and has also brought other major industrial projects on stream in past few years. As the schemes move from construction to operation, the ongoing need for services and supplies will offer business opportunities for Jaidah Group and its partners.
The government’s focus is now on building the infrastructure required to host the 2022 football World Cup and meeting the ambitious targets in its 2030 Vision development plan.
With a $60bn-plus construction programme planned over the next decade, Jaidah Group’s industrial and heavy equipment divisions stand to benefit. Its automotive and furniture divisions are also well-placed to capitalise on the anticipated influx of workers, with thousands of expatriates set to descend on the peninsula to help Doha complete its planned projects.
Jaidah Group is an example of a family business that has been successfully able to expand beyond its traditional business activities. Family-owned firms are often criticised for a lack of vision and flexibility, but for Jaidah Group that is not the case.