Saudi Arabia Report
Marcopolis presents the Saudi Arabia Report focused on the investments, doing business, economy and other topics featuring interviews with key executives. The sectors under review in this issue are industry, real-estate, ICT, investments, banking sector, telecom sector and many more.
Khaled Juffali
Khaled Juffali was ranked as Marcopolis' #5 most powerful businessman in Saudi Arabia. Khaled Juffali holds positions at many companies and boards.
Juffali is managing partner and vice chairman at E.A. Juffali & Brothers Company, serves as chairman of ReAya Holding, Saudi Tractors Manufacturing Company, National Automobile Industry Company, Saudi Ericsson Communications Company, Fluor Daniel Arabia, and Raychem Saudi Arabia, as well as many others. Furthermore, Juffali serves as a Member of Advisory Board of Gulf Capital and is an Honorary Consul General of Switzerland in Jeddah, Saudi Arabia.
Ebhrahim A. Juffali and Brothers (E.A. Juffali & Brothers) is a leading Saudi family owned company and is currently one of the country’s largest commercial enterprises. The company was founded in 1946 and quickly expanded into one of the largest business houses in the Middle East. The company, originally steered by Sheikh Ahmed Al-Juffali and his brothers, Ebrahim and Ali, is now in control by their sons, Sheikh Walid, and of course, Sheikh Khaled.
Khaled earned his Bachelor Degree in Business Administration from the University of San Diego, California, USA in 1979. Moreover, he received his primary education at Brummana High School in Lebanon and LeRosey Institute, located in Switzerland. Khaled received an Honorary Doctorate in 2009 from Menlo College, Silicon Valley’s Business School. The college recognizes Khaled as an internationally recognized role model for global entrepreneurs, especially due to his dedication to training Saudi youth for various areas of employment. Khaled, being proud of his association to the college, also enrolled his daughter in the business school.
Khaled’s involvement in several sectors, including automotive, petrochemicals, banking, insurance, venture capital funds, distribution, IT, education, telecom, real estate, and many more, has helped make the Juffali family one of the most successful and wealthy families in Saudi Arabia.
Juffali Family
Juffali family is from Najd (Onaizah, in Qassim region), although based in Hijjaz – Jeddah. The company has major agencies such as Daimler-Benz, IBM, Kelvinator, Michelin, Siemens, Sulzer, York and Bosch. This merchant family is part of the powerful families, who from a limited resource base, succeeded in establishing good links with King Abdulaziz or King Saud during 1940s and 50s. These families were able to obtain key agencies and construction contracts. In 1982 the company had an estimated turnover of $1 billion a year. If we take into consideration the growth in Saudi Economy since 1981, the company would have an estimated turnover of $4 billion a year. In reality, we estimate that the number is much bigger.
It is difficult to judge the size of the merchants’ personal fortunes. One cannot put a market value on their companies when there is no proper stock exchange.
In 1940 the family had begun general trading, but it was only when Ahmed won the agency for GEC, the British electronics company, and a concession for the electricity supply of Taif in 1946, that the family firm began its development as a modern company.
With the Taif contract the Juffalis were breaking entirely new ground. After installing the electricity grid in Taif, they moved onto larger scale projects in Riyadh, where they installed the street lighting. Furthermore, they acquired the Mercedes agency and through innovative measures monopolized the trucking market.
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