ArabianBusiness.com - Middle East Business News
Monday, 23 September 2019 14:19 UAE time
 
22#  The Al Zamil Family  - picture not available
22# The Al Zamil Family

Net Worth: US$ 3.5 Billion
Country of Residence: Saudi Arabia
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Zamil Group Holding began as a simple trading house in the 1930s; today it is one of the Kingdom's largest private enterprises, spanning diversified industrial and commercial interests, and making its mark on everything from air-conditioning manufacturing to food processing, steel fabrication and travel services.

The group was founded by the late Abdullah Al Hamad Al Zamil, a Saudi entrepreneur who established a modest trading entity selling food items and textiles in the Kingdom of Bahrain in the 1930s. Later, he expanded successfully into real estate investments.

Zamil began investing in the plastics industry over 30 years ago, and today the group can count on a 12,000-strong workforce in more than 60 countries, vast manufacturing facilities and strong affiliations with numerous international partners. The family also has a significant stake in the Bahrain-based Energy Central Company, which could prove a huge windfall given the region's growing power demands.

Perhaps the group's best-known subsidiary is Dammam-based Zamil Industrial, which employs more than 9,600 people in 55 countries. The company operates through four divisions: Zamil Air Conditioners, Zamil Steel Industries, Zamil Glass Industries and Arabian Fiberglass Insulation.

Zamil Group's directors now comprise his twelve sons, led by group chairman Mohammed and Saudi Operations chairman Abdulrahman. Khalid Al Zamil is a director of Gulf Navigation Holding, which is listed on the Dubai Financial Market, and also the group's managing director of Strategic Planning.

However, those in line to inherit the empire can't afford to rest easy. "The next generation should not obtain their positions just because they happen to be the sons of the owners," said Abdullah Al-Hamed Al Zamil recently.
 

 

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