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Estithmar Holding announced the appointment of Basel Shaddad as Holding Chief Executive Officer, with full executive authority as Holding CEO, effective 4 May 2026.The Board of Directors welcomed Shaddad’s appointment, to lead a new phase that continues the strong growth trajectory achieved by the company in recent years.Prior to his appointment as Holding CEO of Estithmar Holding, Shaddad led several regional and international companies across several countries in the region. Over more than 20 years of experience, he has implemented broad growth strategies, performance optimization initiatives, and restructuring programs across diverse sectors.Basel Shaddad holds a Master of Business Administration (MBA) and a bachelor’s degree in mechanical engineering, in addition to several professional certifications in leadership, strategy, and project management. 

Strong performance reflects sustained upward momentum driven by international expansion and operational efficiencyDigital transformation initiatives in automation and artificial intelligence enhanced productivity, governance, and cost optimizationEstithmar Holding Q.P.S.C. announced its financial results for the first quarter of 2026, reporting a net profit of QAR 333 million, marking a significant 97% increase compared to the same period last year. The results underscore the strength of the Company’s operating model and the successful execution of its expansion strategy.The company recorded revenues of QAR 1.455 billion, up from QAR 1.309 billion in Q1 2025. Gross profit rose to QAR 561 million compared to QAR 416 million, representing a year-on-year increase of 35%. EBITDA grew by 73% to reach QAR 473 million, while earnings per share increased by 90% to QAR 0.089.These results reflect comprehensive growth across all key financial indicators, supported by a clear investment vision and the Company’s ability to balance geographic expansion, portfolio diversification, and operational efficiency. International investments announced in previous periods have begun to deliver tangible impact, contributing to revenue growth, enhanced profitability, and asset base expansion.The strong growth in net profit is attributed to the Company’s disciplined approach to operational efficiency and value creation, alongside prudent capital management and effective risk management practices. In parallel, digital transformation initiatives, particularly in automation and artificial intelligence, have played a key role in improving productivity, strengthening governance, and optimizing costs.The results also highlight a balanced contribution across the Company’s business Groups; healthcare, services, tourism and real estate development, and industries & specialized contracting, demonstrating each Group’s success in executing its growth strategy within an integrated strategic framework. Commenting on the results, Juan Leon, CEO of Estithmar Holding, said:“The Q1 results reflect the strength of our business model and our ability to deliver accelerated and sustainable growth simultaneously. This performance goes beyond achieving record figures, it demonstrates the quality of our investment decisions and disciplined execution across markets and sectors. The balance between revenue growth and improved profitability, supported by strong operational performance and healthy cash flows, highlights our efficiency and our ability to translate expansion into tangible shareholder value.”He added:“International expansion has evolved into a core driver of our growth, strengthening our presence in high-potential markets while enabling income diversification and risk mitigation. Recent regional dynamics have further validated this strategic direction. At the same time, we continue to invest in digital transformation and advanced technologies to enhance operational efficiency. These results position us firmly on a clear upward growth trajectory, underpinned by a flexible strategy and financial discipline that ensure sustainable performance amid evolving economic conditions.”During the first quarter of 2026, Estithmar Holding launched its new subsidiary, Estithmar Capital, its fifth business platform, specializing in financial investment management, corporate governance enhancement, and the implementation of robust compliance and risk management frameworks, reinforcing the Company’s commitment to sustainable and responsible growth.The healthcare Group continued to deliver strong growth, driven by the expanding performance of its international facilities, particularly in Iraq and Libya, which have become key contributors to revenue. This reflects growing regional confidence in Apex Health, the company’s healthcare arm.The services Group further strengthened its leading position in the Qatari market, especially in facilities management and catering solutions, while regional expansions in Saudi Arabia, Iraq, and Jordan contributed to increased profitability and the development of new revenue streams.In the tourism and real estate development segment, the Group maintained solid progress despite regional challenges, supported by strong execution capabilities and strategic planning. Key projects continue to advance, including Rixos Baghdad Hotel & Residences and Rosewood Maldives Resort, alongside the strong performance of Al Maha Island and a successful season for Lusail Winter Wonderland.Meanwhile, the industries & specialized contracting segment recorded exceptional profitability growth of 376% compared to Q1 2025, driven by improved operational efficiency, effective cost optimization measures, and continued regional expansion, including new projects in Syria, Algeria, the Maldives, and Rwanda.It is also worth noting that Estithmar Holding appointed PricewaterhouseCoopers (PwC) as its external auditor effective early 2026, following approval by the Board of Directors and the General Assembly.

The Qatar Stock Exchange-listed Estithmar Holding has signed an agreement to invest in Shahba Bank through its subsidiary Estithmar Capital. Under the deal concluded in Damascus, Masaref Holding, a subsidiary of Estithmar Capital, will take a 49% stake in Shahba Bank, marking a further step in Estithmar Holding’s regional expansion and deepening exposure to the financial services sector.  Masaref Holding signed the agreement with representatives of Bemo Saudi Fransi Bank and Ahli Trust Bank. The transaction forms part of Estithmar Holding’s strategy to diversify its portfolio and enter high-potential markets through targeted investments that support long-term growth, contribute to economic development in its operating geographies, and deliver sustainable value to shareholders.  The move is expected to enable Masaref Holding to capitalise on opportunities in the Syrian market while supporting Shahba Bank’s growth and development plans, enhancing its operational efficiency and competitive positioning. “This transaction marks an important milestone in Estithmar Holding’s journey to expand its presence in the regional financial sector...Taking a significant stake in Shahba Bank aligns with our strategy to build a diversified investment platform that delivers sustainable growth and creates added value for our shareholders, while supporting economic development across the region,” said Juan Leon, Holding chief executive officer of Estithmar Holding.  The agreement represents a key building block in the rehabilitation of Syria’s banking infrastructure and its reintegration with regional and global markets. This includes attracting foreign investment, modernising the Syrian banking sector and raising its standards, enabling reconstruction efforts, as well as creating employment opportunities and developing national talent. “This step reflects our investment approach of selectively targeting high-potential opportunities.  We see Shahba Bank as a promising platform on which to build, enhancing performance and operational efficiency. We look forward to working closely with the management team to support expansion plans and deliver banking services that meet market expectations, strengthening the bank’s competitiveness and standing,” said Fadi al-Faqih, chief executive officer of Estithmar Capital.  Estithmar Holding operates across several verticals, including healthcare, services, tourism and real estate development, as well as specialised contracting and industries. The company employs more than 28,000 people from more than 100 nationalities and maintains a presence in more than 10 countries.

The Qatar Stock Exchange (QSE) gained 72.97 points or 0.7% to close at 10,714.65 for the week. Market capitalisation rose by 1.4% to QR638.5bn from QR629.7bn at the end of the previous trading week. Of the 54 companies traded, 35 ended higher, one unchanged and 18 ended lower. Estithmar Holding (IGRD) was the best performing stock for the week, rising 11.8%. Meanwhile, Qatar National Cement (QNCD) was the worst performing stock for the week, decreasing 5.3%. QNB Group (QNBK), Ooredoo (ORDS) and Estithmar Holding (IGRD) were the main contributors to the weekly index gain, adding 42.97, 17.52 and 12.78 points to the index, respectively. Traded value during the week rose 11.8% to QR2,584.1mn vs. QR2,311.8mn in the prior trading week. IGRD was the top value stock traded during the week with total traded value of QR271.0mn. Traded volume declined 3.0% to 980.8mn shares compared with 1,010.9mn shares in the prior trading week. The number of transactions jumped 34.7% to 158,776 vs. 117,865 in the prior week. Baladna (BLDN) was the top volume stock traded during the week with total traded volume of 90.3mn shares. Foreign institutions turned bearish, ending the week with net selling of QR51.7mn vs. net buying of QR68.5mn in the prior week. Qatari institutions remained bullish with net buying of QR105.1mn vs. net buying of QR66.8mn in the week before. Foreign retail investors ended the week with net buying of QR18.1mn vs. net selling of QR12.3mn in the prior week. Qatari retail investors recorded net selling of QR71.6mn vs. net selling of QR123.1mn. Global foreign institutions are net buyers of Qatari equities by $311.8mn YTD, while GCC institutions are long by $15.9mn.**media[436891]**The QSE index closed slightly up for the week by 0.7%; it printed 10,714.7 as a close. We remain positive on the upcoming weeks; all we need is a strong breakout above the 11,000 level. Clearing the mentioned level means chances for the continuation of the longer-term uptrend are more likely to shape, and we target the 11,300 level as the next expected resistance. Our support level remains at the 10,000 points. 

Estithmar Holding Q.P.S.C. has announced its financial results for the year ended 31 December 2025. The group reported a 54% increase in revenue to QAR 6.4 billion, compared with QAR 4.2 billion in 2024. Gross profit rose to QAR 2.1 billion, up from QAR 1 billion in 2024, representing growth of 111%. EBITDA reached QAR 1.5 billion, an increase of 102% year-on-year.Net profit climbed 122% compared with 2024, reaching QAR 938 million. Earnings per share increased by 145% to QAR 0.264. The growth in net profit was primarily driven by higher revenues, particularly from the specialized contracting and healthcare sectors. The results reflect the group’s ability to convert operational growth into sustainable profitability while maintaining financial discipline.Total assets increased by 23% in 2025 compared with the previous year, largely due to new projects added to Estithmar Holding’s portfolio, including Baghdad International Hospital in Iraq.The Board of Directors has recommended the distribution of dividends equivalent to 20% of the company’s share capital, in the form of 2 bonus shares for every 10 shares held.The 2025 results show a marked improvement across key financial indicators, supported by expansion in the group’s core sectors, improved project execution, and enhanced operational efficiency across its businesses. These results demonstrate Estithmar Holding’s ability to scale its operations while maintaining financial discipline and strengthening profitability.Commenting on the results, Juan Leon, Holding Chief Executive Officer of Estithmar Holding, said: “2025 represents an important milestone in Estithmar Holding’s journey. Our strong financial performance reflects the successful execution of our growth and expansion strategy across the group’s sectors, as well as the considerable efforts of our teams across multiple markets.“Achieving strong growth across all key financial indicators highlights the resilience of our diversified business model and our continued focus on operational excellence, maintaining financial discipline and governance. As we expand our footprint and strengthen our presence in regional markets, we remain committed to delivering sustainable value to shareholders while exploring new growth opportunities.”“The group’s strong financial position allows us to move forward with upcoming strategic initiatives, while also evaluating potential opportunities in capital markets to support the next phase of the group’s expansion”, Leon added. The specialized contracting group accounted for the largest share of revenue contribution in 2025. The sector delivered strong activity both locally and regionally, particularly in Saudi Arabia, Syria, Algeria and Iraq. During the year, the industrial and specialized contracting businesses continued to expand, executing major projects across 12 countries. These include large-scale developments such as the Red Sea projects in Saudi Arabia, infrastructure projects in Syria, and several major developments in Qatar, including educational facilities.During the year, the group secured 262 new contracts, reflecting growing confidence in its companies as partners for the delivery of major projects.Estithmar Holding’s healthcare group, through its subsidiary Apex Health, also continued to deliver sustainable growth, driven by the implementation of its regional hospital management and operations model, including in Iraq and Libya. Within Qatar, the group’s hospitals; The View Hospital and the Korean Medical Center continued to build patient trust through adherence to the highest international quality standards and by hosting leading global medical professionals. In 2025, The View Hospital performed more than 100 robotic surgeries.Services group, particularly companies specializing in facilities management and catering services, also contributed to revenue growth and profitability. Companies within the Group maintained their market leadership by improving operational efficiency, investing in technology, and strengthening customer satisfaction, while also expanding regionally and internationally.The services group secured more than 450 new contracts in 2025, in addition to maintaining a strong portfolio of ongoing agreements, supported by a customer retention rate of 95%. The group provides a range of services including facilities management, food services and catering solutions, workforce and human resources solutions, and event support services. Estithmar Ventures, the real estate development and touristic developments group, recorded revenue growth of 99% compared with 2024, driven by strong demand for its developments. These include Al Maha Island, which attracted more than 5.2 million visitors during 2025. The year also saw a strong conclusion to the third season of Lusail Winter Wonderland and a successful launch of its fourth season, with the destination welcoming thousands of residents and visitors to Qatar.The Group’s hospitality portfolio including Katara Hills Resort and Maysan Doha continued to lead the luxury hospitality segment in Qatar throughout the year.Internationally, construction of the Rixos Baghdad Hotel & Residences continued to progress, alongside increasing sales activity and rising demand from buyers. In addition, the Rosewood Maldives resort project advanced rapidly during the year, with construction progress accelerating towards completion. The development is expected to become a landmark destination within the Maldives and the global tourism market.

In the presence of Prime Minister Mohammed Shia Al-Sudani, the foundation stone of Baghdad International Hospital has been laid — marking one of the most significant milestones in healthcare for Iraq and the region.This project represents a key pillar of Apex Health’s expansion strategy, under Estithmar Holding, which is steadily advancing toward becoming one of the leading Arab healthcare groups.**media[371091]**The new hospital, with a capacity of 400 beds, will deliver world-class medical services and marks a transformative step for Iraq’s healthcare sector.Following its success in managing two hospitals in Iraq with a total of 1,200 beds — and with operations now spanning four countries and managing over 5,000 beds — Apex Health continues to shape the future of healthcare in the region.**media[371094]**Baghdad International Hospital — a new chapter for a healthier Iraq.

As the fastest-growing healthcare provider in the MENA region, Apex Health stands out for its exceptional patient-centered care with earning five recognition awards.Apex Health, a subsidiary of Estithmar Holding and one of the Middle East and North Africa’s leading healthcare providers, has achieved a remarkable milestone in its journey, with the organization itself, along with four of its hospitals recognized among the winners of the Arab Hospitals Federation’s Gold Initiative Certificate - Star of Excellence in Patient Experience. Each hospital achieved distinction in its own category, reflecting Apex Health’s unwavering commitment to delivering patient-centered excellence care across its hospitals.The recognition took place during a ceremony held on Wednesday, under the patronage and in the presence of distinguished leaders, with the participation of the Arab Hospitals Federation, the support and knowledge contribution of The Beryl Institute, and the presence of leading healthcare institutions from across the Arab world.Following a rigorous evaluation by a jury panel in collaboration with The Beryl Institute. These hospitals stood out among 267 participating healthcare institutions from 10 countries for their excellence in safety, quality, innovation, governance, and the overall patient journey. For Apex Health, this achievement reinforces its reputation for operational excellence, innovative practices, and a culture that places patients at the heart of everything it does.Apex Health’s celebrated itself and four of its hospitals in both Qatar and Iraq, each earning top positions in multiple categories within the Gold Initiative Certificate. In Qatar, The View Hospital, and the Military Medical City Hospital, managed by EWS stood out, while in Iraq, Al Imam Al Hassan Al Mujtaba Teaching Hospital in Karbala Governance and Al Nasiriya Teaching Hospital in Dhi Qar Governance were distinguished.Apex Health itself was honored with a Recognition Award under the Gold Initiative Certificate – Star of Excellence in Patient Experience. This distinction highlights the group’s dedication to delivering trusted, high-quality healthcare, building a resilient and sustainable health system, and fostering innovation across all its projects and partnerships.The View Hospital, in affiliation with Cedars-Sinai, has been recognized for its leadership in clinical excellence and continuity of care, and earned Gold in both Safety and Quality of Care and Continuity of Care and Transition Management. A reflection of its commitment to ensuring every patient’s journey is safe, smooth, and supported at every stage.The Military Medical City Hospital, managed by EWS, has been acknowledged for its progressive approach to healthcare innovation, with achieving Silver in Sustainability, Innovation & Technology, reflecting its efforts to integrate advanced solutions, adopt sustainable practices, and continually enhance the way care is delivered.Al Nasiriya Teaching Hospitall, Dhi Qar Governance, Iraq, in recognition for its strong governance and organizational culture, received a Silver in Leadership, Governance, Policy & Culture, highlighting its commitment to effective leadership, clear policies, and a supportive environment that puts patients first.Al Imam Al Hassan Al Mujtaba Teaching Hospital, Karbala Governance، Iraq, has been recognized for its high standards in clinical safety, and was awarded Silver in Safety and Quality of Care, underscoring its dedication to protecting patients, upholding rigorous safety protocols, and delivering reliable, high-quality treatment.Commenting on the achievement, Joseph Hazel, Group Chief Executive Officer, Apex Health, said: “This is a proud moment for our entire team. Earning a Recognition Award along with five certificates in Qatar and Iraq across different categories is more than recognition, it’s a reflection of our people’s dedication, our patients’ trust, and our vision to set new benchmarks in healthcare across the MENA. Our success is strengthened by trusted international partnerships and strong relationships with government entities which have been instrumental in advancing the quality of care we provide, and this belongs to every member of our hospitals who works tirelessly to deliver care that is safe, innovative, and deeply personal.”The recognition from the Arab Hospitals Federation underscores Apex Health’s vision to shape a healthier future through trusted care, advanced technology, and global partnerships with delivering measurable improvements in healthcare outcomes and patient satisfaction.

The Qatar Stock Exchange (QSE) retreated by 127.63 points or 1.14% to close at 11,099.21. Market capitalisation declined 1.2% to QR662.7bn from QR670.8bn at the end of the previous trading week.Of the 53 traded companies, 44 ended the week higher, while 32 ended lower and nine ended higher. Mannai (MCCS) was the best performing stock for the week, rising 11.6%. Meanwhile, Estithmar Holding (IGRD) was the worst performing stock for the week, declining by 10.7%.Industries Qatar (IQCD), Qatar Islamic Bank (QIBK) and Estithmar Holding (IGRD) were the main contributors to the weekly index losses. They shaved 31.86, 26.03 and 14.16 points off the index, respectively.Traded value during the week decreased 26.1% to QR1,647.4mn from QR2,228.1mn in the prior trading week. Baladna (BLDN) was the top value traded stock during the week with total traded value of QR143.1mn.Traded volume decreased 24.2% to 574.9mn shares compared with 758.0mn shares in the prior trading week. The number of transactions inched up 0.6% to 96,797 vs 96,238 in the prior week. BLDN was the top volume traded stock during the week with total traded volume of 91.9mn shares.Foreign institutions turned bearish, ending the week with net selling of QR56.5mn vs net buying of QR2.9mn in the prior week. Qatari institutions remained bullish, with net buying of QR14.5mn vs net buying of QR12.4mn in the week before. Foreign retail investors ended the week with net buying of QR34.4mn vs net buying of QR2.9mn in the prior week. Qatari retail investors recorded net buying of QR7.6mn vs net selling of QR18.2mn.Global foreign institutions are net buyers of Qatari equities by $184.5mn YTD, while GCC institutions are net long by $76.2mn.The QSE index closed down for the third week by 1.16% from the week before at 11,099.2 points. The recent correction is a natural phenomenon in the financial markets: markets correct after sharp rises. From a technical point of view, the index remains in a healthy uptrend as long as it stays above the 10,650 level. Major moving averages are stacked positively and pointing upwards, which support our bullish outlook over the coming months. We also stay dynamic with the signals offered to us by the market.