QATAR - Economy
President & CEO, Alfardan Group
Omar Hussain Alfardan is President & CEO of Alfardan Group, one of the most successful privately owned companies in Qatar and the region. He acquired sharp business acumen under the tutelage of his father, Hussain Ibrahim Alfardan, a distinguished pearl businessman. He holds a bachelor’s in business administration and a master’s in finance from Webster University in Geneva. Through his visionary approach and strategic expansion into profitable business sectors in Qatar and the region, he has driven the group along the path of sustained growth and continued success.
What are the main areas of activity and companies of Alfardan Group, as well as main milestones?
When Alfardan Group’s journey first started as a family business, it was at a critically transformative time for global and GCC economies. We diversified our portfolio and business across sectors, turned our pearl trading family business into one of the leading conglomerates, expanded across markets, and built a legacy of firsts throughout this journey. But most importantly, we learned to turn challenges into opportunity. At the core of our success lies our commitment to delivering best-in-class products and services to ensure the ultimate experience for our customers across various industries while abiding by international standards and best practices within the markets we operate in. Furthermore, we take pride in every initiative, event, and step, be it big or small, that empowers and equips our brightest and most innovative minds with the skill sets, the tools, and, most importantly, the platform to develop the seeds of their ideas into successful businesses. The very history of our group—and by extension our nation—is rooted in this entrepreneurial spirit, without which progress would not have been possible.
What is your assessment of the strength of the Qatari economy, and what are the main drivers behind this favorable situation?
Today, Qatar boasts an astonishing list of achievements and is considered a significant global player, from the sporting arena to the political front and economic development. Qatar has risen through the ranks because it has successfully illustrated the extent to which the national environment encourages enterprises to perform in an innovative, profitable, and responsible manner. Alfardan Group is a living example of these policies. We have benefited from Qatar’s growth because it has been centered on a drive to encourage new businesses along with outstanding support to existing industries. As a group that places excellence as the guiding principle in all that it does, we have been able to raise the bar and introduce pioneering trends in several sectors of the economy.
Where are the most appealing sectors and countries in which to continue diversifying your business portfolio?
Our diversification plans are based on two main themes: a strong culture of innovation and a drive to fulfill the goals of the Qatar National Vision 2030. This is why most of our activities meet the current needs of Qatar while simultaneously securing a sustainable high standard of living for all. Alfardan Group maintains a rich portfolio of leading companies, including Alfardan Jewellery, Alfardan Exchange, Alfardan Properties and Hospitality, Alfardan Automotive, Alfardan Investment, Alfardan Marine Services, and Alfardan Medical. We are continuously exploring areas that can broaden our role in the economy, as this will support diversification and create new employment opportunities. More recently, the group has expanded its international presence in Oman, Turkey, and Switzerland.
What opportunities does the 2022 FIFA World Cup represent for your company and the country?
The tourism sector lies at the heart of our core offerings since we have established Alfardan Hospitality, and we are always guided by the vision of HE Sheikh Tamim Bin Hamad Al Thani to build a highly developed and sustainable nation. The conscious efforts of the government focused on tourism is highly reflected in the launching of the next chapter of the National Tourism Sector Strategy 2030. As the country’s blueprint for tourism growth in the next five years, it strategically designs the six geographic zones across the country and highlights its best and most natural tourism assets. We will continue to build our products and services in pursuit of this agenda and in line with Qatar National Vision 2030 to take advantage of the strong momentum in the country’s tourism and hospitality sector. The generous support of the Qatari government for sustainable development further reinforces our confidence to significantly contribute and tap our business capabilities and ingenuity to strengthen Qatar’s presence on the global tourism map.