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RIYADH: Independent thinker Omar Henaidy – an engineer by training but an entrepreneur at heart – was able to create and grow Taj Holding into a sprawling business across the Middle East.
Today, the group includes brands such as fashion retailer Beside, medical center Amaly, specialist transport solutions M and Mac Aerospace, to name a few.
After studying engineering and earning a master’s degree in supply chain management from the University of Missouri in the United States, Henaidy spent several years working with international companies and managing a local business in Saudi Arabia.
However, he realized that his passion and aspirations were building something with the help of people who shared his ideals and the DNA of success.
This is how Taj Holding was born.
“I have always aspired for Taj Holding to be a hub used by talented entrepreneurs and international investors to pursue their dreams and be used as a platform to grow and build for their next step,” Henaidy said. at Arab News.
Taj Holding currently operates in five main sectors: retail, healthcare, manufacturing, IT and defense.
“Over the past decade, we’ve put a lot of effort into growing our portfolio in a robust way, which has resulted in an ecosystem of companies that can work together as one unit,” he said.
Given recent developments in Saudi Arabia, as well as Vision 2030, the company is now primarily focused on retail expansion in the fashion and hospitality sectors.
Taj Holding continues to develop its extensive portfolio by focusing on the sustainability of the company’s ongoing activities in addition to starting new joint ventures.
“In the first quarter of 2022, we signed a nine-figure contract in the defense sector. We sign a similar contract in the second quarter. In healthcare, we recently partnered with Priory; together we will open our first clinic in the second quarter of 2022,” Henaidy revealed.
The holding company also has an industrial complex under construction, comprising three factories. In addition, it has a maintenance, repair and operation center, known as MRO, for helicopters, which will open in 2023.
With its Beside fashion arm, the company seeks to address the desire for iconic brands and tap into the massive youth demographics of the Kingdom, with a population of more than 35 million and a median age of 32, Henaidy observed.
“Young people are leading the most important social transformation the country has ever seen. Besides and thanks to its exciting brand portfolio, it will be able to meet much of the massive potential of this segment,” he added.
The business is growing rapidly across the Middle East. It is focused on strengthening its presence across the region through existing operations in Egypt, Kuwait, Qatar and Bahrain. It also plans to enter Oman for the first time in 2022, but it will continue to build its presence in Saudi Arabia and the United Arab Emirates.
These efforts have seen Taj triple in size over the past three years. The company achieved this rapid growth organically through new investment opportunities. “There is immense potential for investments in several industries to the point where it becomes difficult to identify a specific industry, given the strong growth that our country is experiencing,” Henaidy pointed out.
He underlined that the company emphasizes the long-term potential of its investments and the contribution they make in support of the 2030 vision. “Beside is a perfect example of such a model; investing in the retail sector has the potential for sustainable growth and therefore complements our vision. Another testament to this strategy, Henaidy said, is the fact that “we haven’t exited any of our acquisitions over the past decade.”
Initiatives undertaken for Vision 2030 have accelerated growth in sectors such as tourism, culture, logistics, retail and entertainment, all of which have benefited greatly from recent social and economic developments, he said. he points out.
Henaidy said the Kingdom, under the leadership of Crown Prince Mohammed bin Salman, has been on a path of exponential growth over the past few years, and “we are proud that Taj Holding has been able to contribute significantly to this growth.” .
The entrepreneur believes that his family and the Kingdom have also contributed significantly to his success.
“I attribute my career and my successful journey to my father, who is a role model and a biggest supporter; moreover, I cannot leave aside the vast opportunities our country has given me as a young Saudi entrepreneur,” the CEO said.
Henaidy’s father was an Air Force lieutenant general and fighter pilot. As a leader of many young Saudi patriots, he provided his son with an important support system and mentored him to pursue his dreams.
“I also want to emphasize that the success of any businessman does not come without having someone who supports and encourages you in difficult times; my beloved wife Reem is that person. We have four children, three boys and a beautiful girl,” Henaidy added.
The CEO explained that what motivates him on a daily basis is working alongside a fantastic and energetic team.
His business slogan matches his extraordinary career: “Trusting your instincts is the best business tool you have,” he concluded.