Ma kharafi construction

M. A. Kharafi & Sons

Background information :

Mohammed Abdulmohsin Al-Kharafi & Sons Company (MAK Group) is a private Kuwaiti based group with diverse interests and activities worldwide.

Established as a trading company more than 100 years ago it has since developed into a large multi-national company.

Following on from 1956 and with the advent of the construction boom in the Gulf, caused by the build-up of oil wealth in the region, Kharafi’s Construction Division quickly assumed a dominant role and expanded in response to the demands of a rapidly developing nation.

MEMBERS

Mohammed Abdulmohsin al-Kharafi is the CEO of the company, who also involved in the creation of National Bank of Kuwait (NBK) in 1952.

The main MA Al-Kharafi & Sons holding company is almost entirely in family hands.

Stakes of 15.91 per cent each are held by Mohannad Mohammed Abdulmohsin al-Kharafi, group chairman Nasser Mohammed, chief executive officer Fawzi Mohammed and parliamentary speaker Jassem Mohammed

WHEN IT STARTED

The company was established in 1956 as a private company based in Kuwait .

Main business regions : Middle East, Africa, Europe, Asia.

Number of employees : 20,000 (2008)

The group has more than 120,000 employees. The MAK group has more than one hundred years of experience

Strategy

A notable feature of Mak’s strategy is the way the group has remained loyal to core activities such as build-own-transfer infrastructure projects in the Middle East, while balancing these with investment in a strikingly diverse range of frontier and emerging economies.

Mak has a growing business portfolio in West Africa, including hotel and construction interests, and a vegetable export business in Gambia.

Active in an extremely diverse range of activities, including construction, investment, development, manufacturing, commerce, tourism and leisure.

MA Al-Kharafi & Sons in numbers

$1bn: Turnover of subsidiary Kharafi National, which is 25 per cent of the group’s earnings.

30 per cent: Stake the Al-Kharafi group holds in Iraqi mobile telecoms operator Atheer Telecom.

$800m: Initial capitalisation of subsidiary Sovereign Hospitality Holdings

The company sold its shares in Americana in 2016 for $2.3 billion.

A major stake in one of the largest telecommunications companies in the Middle East and Africa, Zain

Commercial interests and revenues for 2006 estimated at USD$3.3 billion.

The estimated net worth of Nasser Al-Kharafi: 10.4 billion dollars

In 2011 the Kharafi family was listed at 77th position in the Forbes magazine's list of the richest people in the world.