FARIS AL HUBAYYEB

Saudi Arabia 2021 | ECONOMY | INTERVIEW

TBY talks to Faris Al Hubayyeb, CEO of Mafaz International Development Company.

Faris Al Hubayyeb
BIOGRAPHY

Faris Al Hubayyeb graduated in financial management from King Fahd University of Petroleum and Minerals. He is currently the CEO of Mafaz International Development Company and sits on the boards of a wide variety of companies.

How have you developed your investment strategies?

Mafaz, as the investment arm of Abnae'e Holding Group, works in asset allocation and management; we do both conventional and alternative investments through various asset classes, such as private equity, venture capital, fixed income, and bonds. We also invest in equities via stock markets both locally and internationally. We allocate our interests in various sectors, such as agriculture, industry, healthcare, banking, food security, franchising, oil and gas, and more. We are geographically unlocked to all regions but work mainly in MENA. Mafaz's post-acquisition business model is to work hands on as a strategic partner, bringing our capabilities, network, financial advisory, and know-how in leading turn-around plans to achieve maximum investment return and value. And that's why we are often interested in major ownership stakes where we sit on the board to ensure the ability and authority to put our plans into action.

The Saudi healthcare sector has undergone extensive reforms in recent years. How are your investments in this area developing?

Cure Development Co. is one of Mafaz's ventures and mainly focuses on medical supplies and healthcare solutions. The business model is to work exclusively through partnerships with world-class and pioneering medical brands in the UK, Canada, the US, China, and others. Our brand portfolio includes exclusive rights to Cooper Surgical, Covolon Technologies, Bioxeco, Medline, Wright Medical, Conmed, and many other key brands. With this diversified, well-known brands portfolio, Cure has become one of the main players in the Saudi medical sector and the GCC. We now proudly supply public and private healthcare providers across the entire Gulf region with medical supplies and devices. ✖