Power International Holding
 | |
| Company type | Private |
|---|---|
| Industry | Construction, Real Estate, Agriculture, Lifestyle, Services |
| Headquarters | Lusail , Qatar |
Key people |
|
Number of employees | 65,000 |
| Website | powerholding-intl |
Power International Holding is a Qatari-based conglomerate founded by Moutaz Al-Khayyat and Ramez Al-Khayyat.
The group’s portfolio sits across five main sectors: General Contracting, Real Estate Development, Agriculture & Food Industries, Lifestyle, Entertainment and Hospitality, and Services.[1] The group of companies employs over 65,000 staff.
Through its construction subsidiaries, Power International Holding has completed projects including the Mall of Qatar, Banana Island, Lekhwiya Stadium and the Doha Sheraton Hotel and Convention Centre[2] in Qatar. International projects include the luxury Waldorf Astoria hotel in the Maldives.[3]
Power International Holding’s real estate subsidiary ASSETS announced in February 2020 the completion of the 23-storey residential Baywalk Tower in The Pearl Island.[4]
Power International Holding is parent company to Baladna Food Industries, founded in 2014. The company and its founders rose to prominence in 2017 during the Qatar blockades, air lifting in 4,000 Holstein cows and making the state self-sufficient in dairy production.[5] The company constructed special cowsheds with temperature control systems, to create a suitable environment for the cattle despite Qatar’s arid climate.[6]
By June 2019, Baladna stated it was supplying more than half of Qatar’s fresh milk supply and had begun to export to other nations.[7] The company is listed on the Qatar Stock Exchange.[8]
In March 2021, Power International Holding joined the United Nations Global Compact, the world’s largest corporate sustainability initiative.[9] In March 2022, the company became a signatory to the UN's Women’s Empowerment Principles, a business framework aimed to empower women in the workplace, established by United Nations Global Compact and UN Women.[10]
In September 2022, the company was listed by Forbes in the Middle East's Top 100 Arab Family Businesses, ranking thirteenth.[11][12]
Group of companies
[edit]Companies within Power International Holding’s portfolio are held by four main subsidiaries, which have further expanded vertically and horizontally;[13]
- UCC Holding
- Baladna Q.P.S.C
- Estithmar Holding
- ASSETS Real Estate Development
- Aura Group
Urbacon Trading and Contracting LLC (UCC)
[edit]Urbacon Trading and Contracting LLC (UCC) is a subsidiary of UCC Holding. The company was founded by Moutaz Al-Khayyat and Ramez Al-Khayyat in 2011. The revenues of the company were $1,192 million USD in 2013 according to Engineering News Record (ENR).[14] UCC was ranked 194th in the 2019 ENR’s top 250 Global Contractors list.[15]
The company was responsible for construction of the 4,176,000-sq-ft Mall of Qatar, at an estimated cost of $1billion USD.[16] UCC was named Developer of the Year at the 2016 Global RLI Awards,[17] and won the Retail Leadership Award at the 2016 Asia Retail Congress for its work on the project.[18] The company was the lead contractor for the 20,000-sq-m Lekhwiya sports stadium. The stadium opened in February 2013 and will function as a training venue during the 2022 FIFA World Cup in Qatar.[19]
In 2015, UCC was awarded a $466m USD contract to design and build the economic zone in Ras Bufontas, close to Hamad International Airport, in a joint venture with Spanish construction company Sacyr.[20] The company was contracted to refurbish the Sheraton Doha Hotel and Convention Centre in 2014,[21] and was appointed to renovate the Doha Marriott Hotel in late 2019.[22] In January 2020, the company was awarded three public infrastructure contracts by Qatar’s Public Works Authority, Ashghal, worth a combined 1.49 billion QAR.[23] In 2022, UCC was ranked 105 in ENR’s Top Global Contractors.[24]
References
[edit]- ^ "About Us". Power International Holding. Retrieved 23 June 2020.
- ^ "Gulf Construction Online - Icon enhanced". www.gulfconstructionworldwide.com. Retrieved 23 June 2020.
- ^ Asia, Ahead | (22 June 2020). "Shortlist". Ahead | Asia. Retrieved 23 June 2020.
- ^ "ASSETS announces completion of its iconic Baywalk Tower". thepeninsulaqatar.com. Retrieved 23 June 2020.
- ^ "Qatar finds self-reliance, prospers in spite of blockade by Gulf neighbors". The Washington Times. Retrieved 23 June 2020.
- ^ "Baladna Farm plans to meet Qatar's dairy needs by April 2018 – eDairyNews". Retrieved 23 June 2020.
- ^ "With cows, chickens and greenhouses, Qatar takes on regional boycott". Reuters. 18 June 2019. Retrieved 23 June 2020.
- ^ "Baladna receives Social Responsibility Award 2017". www.thepeninsulaqatar.com. Retrieved 23 June 2020.
- ^ "Power International Holding". www.unglobalcompact.org. Retrieved 22 June 2022.
- ^ "Power International Holding | WEPs". www.weps.org. Retrieved 22 June 2022.
- ^ Mughal, Waqar. "Power International Holding (PIH) - The Top 100 Arab Family Businesses". Forbes Lists. Retrieved 19 October 2022.
- ^ Forbes, Middle East (September 2022). "The Middle East's Top 100 Arab Family Businesses". Forbes.
- ^ "Our Group of Companies". Power International Holding. Retrieved 23 June 2020.
- ^ Thomas, Aby Sam (27 January 2015). "Engineering Success: Moutaz Al Khayyat, CEO, UrbaCon Trading & Contracting". Entrepreneur. Retrieved 23 June 2020.
- ^ "ENR 2019 Top 250 Global Contractors 101-200". www.enr.com. Retrieved 2 June 2020.
- ^ "Mall of Qatar construction 70pc completed". tradearabia.com. Retrieved 2 June 2020.
- ^ "Mall of Qatar adds another award to its line-up". Construction Week Online Middle East. Retrieved 2 June 2020.
- ^ "Mall of Qatar wins Retail Leadership award at Asia Retail Congress 2016". www.zawya.com. Retrieved 2 June 2020.
- ^ "Interview: Planning for business after the World Cup". Middle East Economic Digest. 6 September 2015. Retrieved 2 June 2020.
- ^ "UrbaCon wins $466 million build contract". Construction Week Online Middle East. Retrieved 2 June 2020.
- ^ "Gulf Construction Online - Icon enhanced". www.gulfconstructionworldwide.com. Retrieved 2 June 2020.
- ^ "Doha Marriott Hotel set for major facelift; to close for renovation from Sept 1". thepeninsulaqatar.com. Retrieved 2 June 2020.
- ^ "Development and infrastructure projects for 10 areas to start soon". Gulf-Times (in Arabic). 21 January 2020. Retrieved 2 June 2020.
- ^ "UCC Urbacon ranked number 105 on the list of ENR's Top Global Contractors". Qatar Tribune. 31 August 2022. Retrieved 23 September 2022.