Milking Cash Cows

What is the history of the Mohammed Hamad Al Mana Group?

We started back in 1952 with gas plants. At first, we produced small oxygen cylinders for hospitals, and now we have 17 plants all over the Middle East. We began operations in Doha before expanding to the UAE, Egypt, Sudan, Jordan, Saudi Arabia, and Libya. Gas remains are our core business, but we are also very active in real estate. We are one of the largest—if not the largest—private real estate owners in Doha. We have $3.2 billion worth of property in Doha alone, and we are expanding to commercial and residential properties in London. We have units in Dubai in addition to a large amount of real estate in Lebanon. We have also diversified into fast food and certain enterprises, such as the Subway franchise. We own and operate around 50 outlets throughout Doha. In addition to contracting, we provide full solutions for builders. Our company supplies cement, steel, air conditioning, and flooring for construction projects; everything is offered in-house. The company utterly refrains from outsourcing, which allows us to be extremely competitive.

What led the company to diversify into multiple segments?

We have always been very successful in the gas business. However, during the recession in 2008, we ceased the expansion of our industrial sector plants. Meanwhile, we discovered that people were demanding a massive amount of low-cost food. By 2010, we had opened 28 Subway locations. We constantly reinvest in our business, and to date, the gas industry has remained our cash cow that enables us to save funds to invest elsewhere.

How does the company’s activity align with Qatar’s National Vision 2030?

Expanding our business away from gas has paid off massively, and we are still expanding in other business lines, much as Qatar itself is. When it comes to real estate, 2013 saw the launch of the largest project yet. We have also expanded our factory on an investment of around $12 million. The country is giving us the opportunity to grow, coupled with the vision and milestones to mark our combined success. The Al Mana family has long been a contributor to the local economy, and our decisions shape the success of the country. Our main activity is in the energy and the real estate sectors, but we are always open to new ideas and diversification. In Doha, we also have the Qatar Foundation, which is involved in education, healthcare, and research, and it is expanding its activity in multiple sectors. This opens up the opportunity to grow even more and sparks new ideas, as well as more areas to expand upon. This is how our family is growing and much of our success is based on what the country helps us do. We are also working in terms of education, which is another sector that interests us in the long term. However, we are currently exploring a range of options.

How do you ensure quality and consistency given such corporate diversity?

Each company naturally has its own management team. We simply oversee each one on a weekly basis and monitor financial activity on a quarterly schedule to ensure that they remain on the right track. We also have our overseas businesses and stocks. The company works to maintain and monitor our businesses, and I am the main supervisor.