The Billionaire Brothers Betting on Syria’s Reconstruction
The Al-Khayyat brothers have businesses present in many elements of Qatari life and are now poised to play a leading role in rebuilding their homeland.
Brothers Ramez Al-Khayyat, left, and Moutaz Al-Khayyat are naturalized Qataris originally hailing from Syria.
Illustration: 731. Sources: Bloomberg, Getty Images
In 2017, during the Saudi-led embargo of Qatar, local dairy company Baladna famously airlifted in thousands of cows to help guarantee milk supplies and food security in Doha.
Behind the unorthodox move was the Al-Khayyat family, naturalized Qataris originally hailing from Syria. The bravura stroke helped them win plaudits in their adopted country and benefit from the economic boom that followed. Estithmar Holding QPSC, their flagship conglomerate spanning construction to healthcare and tourism, was the Gulf’s best-performing major stock over the past year, cementing the family in the ranks of the region’s richest business dynasties. Now, they’re poised to play a leading role on reconstruction efforts in their homeland.