One of the country’s largest and most successful conglomerates, Almajdouie Group is also one of Eastern Province’s biggest success stories
If you were to look for a stand-out example of a business contributing to Eastern Province’s – and indeed Saudi Arabia’s – economic diversification drive, then you would need to look no further than Almajdouie Group.
Since buying his first truck in 1965 to support his fledgling start-up, which involved clearing goods in Dammam Port, Shaikh Ali Ibrahim Almajdouie has gone on to build one of the country’s most successful conglomerates, representing diverse interests from logistics, trade and manufacturing to automotive, real estate, retail, food and steel.
“Having a diversified business is a challenge and opportunity at the same time,” says president of the group, Abdullah Almajdouie. “It is challenging in a way that you have to keep excellence and exceptional service in all these diversified businesses, and it is an opportunity in the way that it helps the company to balance out. If some business drops, then others may compensate.”
Today Almajdouie Group operates all over the Kingdom as well as in the Middle East, North America, Europe, the Far East and Africa, employing a total of more than 6,000 people. The key factor to the group’s success, says Mr. Abdullah Almajdouie, is not just ensuring all companies work in harmony together, but “having the right people in place and having a business working environment that keeps them continuously challenged and motivated.”
Almajdouie Logistics – the largest company in the group – has become the Middle East’s biggest asset-based logistics service provider, offering distribution, transportation, customs clearance, freight forwarding, heavy-lifting and warehousing to its global client base, and serves industries critical to the Saudi economy, including oil and gas, petrochemicals, power and utilities, fast-moving consumer goods and infrastructure.
In 2012 the company became a Guinness world record holder for the “Heaviest Item Moved by Road Freight” and has also been awarded the global Hyundai best distributor in 2010 and 2014, the Saudi Saafa Award for transparency (2012) and the Saudi Index’s No. 1 Business Sector Innovator.
Mr. Abdullah Almajdouie says that the success of the Eastern province region in leading Saudi Arabia’s industrial development and economic diversification owes a lot to H.R.H Prince Saud Bin Naif – the governor of the region – who has been instrumental in allowing businesses like Almajdouie Group to flourish.
“He has always been supportive to continuous communication between different parties and encouraging the private and public sectors to develop Eastern Province.”