The impending FIFA World Cup provides a "significant" economic boost to Qatar and Aamal Company, which is seeking to capitalise on new opportunities and maintain its subsidiaries' market-leading positions in view of the growing market demand, according to HE Sheikh Faisal bin Qassim al-Thani, chairman of Aamal.
Expecting increasing global recognition of Qatar as an attractive place to invest; Sheikh Faisal said, "These are exciting times for our country and for Aamal as we strive to continue to deliver value for all our stakeholders and continue to explore new opportunities that will help us deliver sustainable growth and profitability."

Sheikh Mohamed bin Faisal al-Thani, chief executive officer and managing director of Aamal Holding

Aamal’s subsidiaries are always seeking to capitalise on new opportunities and maintain their market-leading positions by enhancing and expanding their offerings with innovative new products and services to satisfy growing market demand, he said in the board report that was placed in the general assembly meeting, where shareholders approved the 2021 financial results and the 5% cash dividend.
Sheikh Mohamed bin Faisal al-Thani, chief executive officer and managing director of Aamal Holding, said this year marks a major landmark for Qatar, which is hosting the much-awaited FIFA World Cup, a hugely prestigious, global event that will attract a large number of visitors to the region.
"Moreover, we are confident that the World Cup will successfully showcase Qatar’s considerable economic stability, advanced infrastructure and ranking as one of the world’s safest countries; attributes which we expect to appeal to international investors and to generate further significant opportunities," he said.
Confidently optimistic regarding the outlook for 2022; he said, "We believe that to capitalise on current trends and identify emerging trends, innovation is more essential than ever and will play a key role in the development and execution of our long-term strategy."
Elaborating on segment-wise outlook, the Aamal board said in 2022, major project expenditure of QR74bn combined with capital expenditure of QR4.6bn, is expected to boost demand in the manufacturing sector, thus auguring well for its industrial manufacturing division.
"Aamal will capitalise on the sustained demand for building materials, steel structures, piping products and power cables from current and future projects," it said, highlighting that the recently started $30bn North Field liquefied natural gas expansion (LNG) project and the upcoming South Field LNG expansion project, will be the key driving forces for the economy, especially in the local manufacturing sector.
The government’s budget allocation of QR20bn to the healthcare sector will drive the growth of its trading and distribution division, particularly the Aamal Medical and Ebn Sina Medical businesses.
With several global events taking place this year, including the 2022 FIFA World Cup, the resulting increase in population and rising demand for vehicles will drive robust growth in Aamal’s tyres and lubricants businesses, the board report said.
The property segment is expected to witness steady growth in demand from sustained population expansion and new business activities across Qatar in the run up to the 2022 FIFA World Cup.
With a new façade and the addition of several well-known outlets, footfall at the City Centre mall is expected to grow significantly in 2022, positively impacting retail revenue, the board said.
"In 2022, about 20 new shops are scheduled to open at City Center Doha and footfall will be boosted by the construction of a bridge connecting the second floor of the mall to the metro," Sheikh Mohamed said.
Aamal’s property portfolio will leverage the opportunities presented by the government’s commitment to providing accommodation facilities for visitors during the 2022 FIFA World Cup, the board report said.
Related Story