A recent study by KPMG showed that 84 percent of family businesses in the Middle East expect to outperform their competitors during the next five to ten years, compared to 72 percent of their global counterparts, supported by clear growth strategies and internal consensus between family members and leaders regarding business directions, at a time when administrative succession, governance, and the adoption of modern technologies are among the most prominent future challenges.
According to the report, which surveyed 135 senior family business leaders in the region, 85 percent of companies have a specific growth strategy for the next five to ten years, while 80 percent reported strong consensus between family members and leadership on the best ways to achieve business growth.
These results gain importance in light of the economic role played by family businesses in the region, as they account for an estimated 60 percent of the gross domestic product of the Gulf Cooperation Council countries, and contribute a large share of private sector wealth and job opportunities, in conjunction with the Arab region’s economy approaching the level of $4 trillion.
The report showed that family reputation and brand value represent the most prominent sources of competitive strength for these companies, with 93 percent of them considered a major driver of value, followed by shared values and goals at 89 percent. Also, 81 percent of companies expressed their willingness to give priority to the family unit, even if this requires accepting lower returns, compared to 66 percent globally, which reflects the importance of continuity and maintaining family cohesion in its long-term decisions.
In terms of expansion plans, geographic expansion topped the growth priorities over the next decade, with 36 percent of participants placing it at the forefront of the factors most influencing the growth of their business until 2035, while more than half of the participants listed it among their top two priorities. Regarding financing this expansion, 55 percent preferred to reinvest profits and shareholders’ equity as a source of capital during the next two years.
On the other hand, the report indicated that administrative succession and the readiness of the next generation represent the most prominent long-term challenges, as 34 percent of companies placed them at the top of their challenges until 2035, compared to 29 percent in the near term. The importance of governance and strategic decision-making has also increased from 19 percent in the near term to 27 percent in the long term, in light of expectations of increased complexity of decision-making structures with business expansion and the transfer of leadership between generations.
Abdullah Akbar, partner and head of private companies and family enterprises consulting at KPMG Middle East, said that family businesses have remained a major driver of economic growth in the region for generations, benefiting from long-term thinking, solid values, and deep relationships, as sources of competitive strength.
He added that the continued expansion of these companies into new markets and their adoption of modern technologies increase the importance of continuity of leadership, governance, and institutional capacity, ensuring the sustainability of growth and preserving the principles that have contributed to their success over generations.
On the technical side, the report revealed a gap between the ambitions of family businesses and their level of readiness, as 67 percent of them actually use artificial intelligence, while only 25 percent have established formal governance frameworks to regulate its use. Adoption and governance of these technologies were the most challenging in the near term, at 37 percent, generally in line with the global average.
In the field of cybersecurity, the report showed that 56 percent of companies still deal with it as a technical matter, instead of including it among the strategic issues presented to boards of directors, which highlights the need to strengthen governance and risk management as businesses expand and become more complex.
First Saudi Bank signed a memorandum of understanding with the “PlayBook” platform, with the aim of enhancing cooperation in the areas of women’s entrepreneurship, exchanging knowledge and experiences, and supporting innovation in financial services.
The memorandum includes areas of cooperation and exploring opportunities for organizing joint initiatives and events, and holding sessions to exchange visions and experiences on women’s entrepreneurship and equal opportunities, in addition to exchanging knowledge and best practices related to emerging technologies in the financial sector, including digital payments and financial technology services.
Lama Ghazawi, CEO of Financial Supervision at First Saudi Bank, said that investing in women’s potential represents an investment in the future of the national economy, noting that cooperation with “PlayBook” aims to combine banking experience, knowledge, and professional networks to support women and enhance their participation in business leadership, investment, and wealth creation.
She added that the partnership contributes to achieving the goals of “Saudi Vision 2030,” by enabling women to transform their ambitions into growing business projects and value-added investments, and enhancing their presence in leadership positions affecting the future of the economy.
For her part, Wafa Al-Obaidat, founder and CEO of the PlayBook platform, explained that the “Women Wealth Creators” summit was launched to expand women’s access to knowledge, networks of relationships, and investment opportunities that help them build their financial future.
She stressed that the memorandum of understanding represents an extension of these goals, by linking the platform community with the First Saudi Bank, as one of the leading financial institutions in the Kingdom, and working to organize joint events and exchange experiences in the fields of women’s entrepreneurship, digital payments, and employing financial technologies in wealth management and development.
The agreement was signed during the “Women Wealth Creators” summit recently hosted by Riyadh, and organized by the “PlayBook” platform in a strategic partnership with the Ministry of Investment, represented by the “Invest in Saudi Arabia” initiative, and with the participation of the First Saudi Bank as a knowledge partner.
The summit brought together more than 3,000 investors, entrepreneurs, and executive leaders from the region and the world, to discuss the growing role of women in the business, investment, and wealth creation sectors.
The agreement comes within the efforts of the First Saudi Bank to support business growth, expand investment opportunities, and enhance women’s participation in economic activities, in addition to enabling the platform’s members to make financial and investment decisions based on knowledge and experience.
PlayBook is a platform specialized in empowering women to build and develop their wealth through learning programs, expanding networks of professional and investment relationships, and facilitating access to financial experts and investment opportunities.
Amali Properties announced the sale and delivery of Villa Amaya on Palm Jumeirah for 110 million dirhams ($29.9 million), in a deal that ranks among the 10 largest real estate deals witnessed in the region during the year 2026, according to the company, reflecting the continued demand for ultra-luxury residential properties in the emirate.
The delivery of the villa represents the first residential project completed and delivered by the company since its founding in 2023 by Ali and Amira Sajwani, in a step that strengthens its presence in the luxury real estate market in Dubai, which is witnessing increasing competition between developers to attract buyers looking for residential units with special designs and distinguished locations.
The deal comes after the company announced the sale of Villa “Avatia” within its “Amalie Island” project in The World Islands for 220 million dirhams ($59.9 million), bringing the total value of the two deals to 330 million dirhams ($89.8 million), in an indication of the volume of deals carried out by the company within the ultra-luxury residential real estate segment.
Villa “Amaya” is located in Frond “M” on Palm Jumeirah, one of the most prominent coastal residential destinations in Dubai. It consists of 5 bedrooms distributed over two floors, with a built-up area of 14,573 square feet, within a plot of land with an area of 14,686 square feet.
Ali Sajwani, co-founder and CEO of Amali Real Estate, said that the development of the villa was based on attention to architectural details and interior designs, with a focus on integration between interior and exterior spaces, ensuring the provision of a residential experience that combines quality, privacy and comfort.
He explained that the company adopts an approach based on treating each residential project as a private home, by carefully studying the details of the design and utilizing the spaces, noting that the experiences that the two founders acquired over the years in the real estate sector contributed to formulating this approach.
He added that the company is keen to develop homes that have an independent identity, instead of relying on repetitive designs, while giving priority to the quality of implementation and the selection of materials and finishes that suit the requirements of buyers in the ultra-luxury real estate market.
For her part, Amira Sajwani, co-founder and chief operating officer of Amali Properties, confirmed that Palm Jumeirah continues to consolidate its position as one of the most prominent luxury coastal residential destinations in the world, noting that the sale and delivery of the “Amaya” villa for 110 million dirhams ($29.9 million) reflects the continued demand for properties with custom designs and exceptional specifications in Dubai.
She said that the company's strategy since its establishment has been based on developing a limited number of ultra-luxury residential units, focusing on the quality of design, implementation and attention to detail, rather than expanding the number of units offered.
She added that the delivery of the “Amaya” villa represents a practical translation of this strategy, and an important milestone in the company’s transition from the project development stage to the delivery of completed properties to buyers.
The villa was developed with contemporary architectural designs and luxurious specifications that provide privacy and a lifestyle that mimics high-end resorts, and includes a home cinema, a gym, a panoramic elevator, a show kitchen, in addition to spacious living and entertainment spaces.
The villa features a preserved natural olive tree with a height of 7 meters in the middle of the house, while its outdoor facilities include an “infinity” swimming pool, a foldable television screen, barbecue areas, and a Jacuzzi on the roof, in addition to water features and relaxation spaces.
B8 Architecture took over the design of Villa Amaya, while Bond Interiors carried out the interior finishing work, which includes furniture from the international brands “Minotti” and “Natuzzi”.
In addition to its independent villas on Palm Jumeirah, Amalie Properties is developing the Amalie Island project in The World Islands in Dubai, in cooperation with international companies specialized in architecture and design, including HPA, Elastic, and Square M Design, as part of its strategy to develop ultra-luxury residences characterized by privacy and exclusive designs.
The delivery of “Amaya” represents the company’s first completed residential achievement since its founding in 2023, at a time when it seeks to expand its portfolio and benefit from the demand for luxury real estate in Dubai.
