Al Faisal Holding, one of Qatar’s largest private conglomerates and a family office tied to the ruling Al Thani dynasty, is accelerating efforts to diversify beyond its traditional real estate roots as the state embarks on an ambitious economic transformation.

Founded in 1964 by H.E. Sheikh Faisal Bin Qassim Al Thani, the firm began as an automotive business and now oversees dozens of portfolio companies across sectors ranging from hospitality and trading to manufacturing. Governance remains firmly in family hands, with a board and general assembly comprising Sheikh Faisal’s relatives.

Ali Mahmoudy, chief investment and strategy officer for five years, said the pandemic was a turning point for the group. He said that while the economics of the GCC region may be unique, in part due to a reliance on oil and gas revenue, like any investment officer his key priority is diversification.

This has meant a change in approach in recent years and less reliance on real estate development. He said the shock of the pandemic pushed the family into new areas including technology, manufacturing, and healthcare, among other sectors.

While Al Faisal Holding is not returning to its oil-and-gas-heavy past, Mahmoudy said the firm sees opportunity in Qatar’s latest energy initiatives. The country’s National Vision 2030 and TAWTEEN, a QatarEnergy-led program to localize LNG supply chains and spur clean energy production, have created openings for private investors.

Qatar is also preparing to launch a major LNG expansion in the north next year, which could boost output by 85 percent and cement its position as the world’s top gas exporter. Rather than build in-house expertise, Al Faisal plans to partner with established international players.

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Geographically, the firm’s real estate portfolio is already global, with 35 hotels across the U.S., Europe, North Africa, and the GCC. But technology is where Mahmoudy sees the most promise. Qatar’s sovereign wealth fund, QIA, recently spearheaded a venture capital initiative to seed a local tech ecosystem, and the country is positioning itself as a regional hub for AI, fintech, cloud computing, and telecommunications.

Al Faisal Holding is also exploring technology-driven food production and distribution — a strategic move for a nation that once relied almost entirely on imports. As the population grows in wealth and size, food security has become a necessity.