“Our goal is to improve quality of life in the communities we operate in.”
Moutaz Al-Khayyat, Chairman of Power International Holding (PIH), shares his investment vision with Arabian Business.
What is your long-term vision for Power International Holding, and how do you see it evolving over the next decade?
Power International Holding is a key economic and development driver in the region, enhancing integration among our six groups—UCC Holding, Estithmar Holding, Baladna, Assets Group, Aura Group, and TMT—while expanding our global footprint, especially in vital sectors such as energy, healthcare, food industries, contracting, services, and world-class tourism destination development.
Our clear strategy is to contribute to improving the quality of life in the communities where we operate. Our long-term vision stems from the principle of “Building a brighter future from Qatar to the world.” We believe true growth is not just in numbers and projects, but in the lasting, positive impact we leave on every sector and community we serve.
Recently, UCC Holding—one of our core groups—signed an agreement with the Syrian government to lead a consortium of international companies, including Power International USA and Turkey’s Kalyon Energy and Cengiz Energy, to develop major power projects in Syria. This foreign investment, valued at around USD 7 billion, includes the development of four gas turbine power plants across Syria with a combined capacity of 4,000 MW, and a 1,000 MW solar power plant—effectively rebuilding Syria’s power infrastructure. For us, projects like this are not just milestones in our business growth, but a reflection of our values and strategic goals to create real societal and economic impact.
What strategic principle guides your investment decisions or entry into new sectors?
We invest in growing sectors that are in increasing demand globally and particularly in the regions where we operate. For example, our investments in energy focus on countries recovering from crises that urgently need to rebuild their core systems, and our healthcare investments align with the remarkable development in the region’s healthcare sector. This pattern is consistent across our investments—and it has proven successful, becoming one of our guiding principles.
We assess any new opportunity based on three criteria: its societal impact, its alignment with our values and vision, and our ability to excel in it regionally or globally. That’s why our sector entries are always calculated, based on a deep understanding of local, regional, and global contexts.
What was the key turning point that radically changed the group’s trajectory?
The most pivotal moment was in 2020 when we decided to expand regionally and internationally. We based this move on our success record in Qatar and our experience in contracting, food industries, healthcare, tourism development, and more. This allowed us to gain trust and export Qatari expertise regionally and globally. The expansion required a full operational restructure, the formation of multinational specialist teams, digital transformation, and governance systems capable of supporting scale.
Most importantly, it gave us a broader perspective on our business model. For example, UCC started as a trusted contracting firm and is now one of the world’s leading energy and construction players. Assets Group, once focused on managing hotels and resorts, is now developing some of the most luxurious global destinations in partnership with top-tier hospitality brands. Baladna, which helped Qatar achieve self-sufficiency in dairy, is now globally recognized for helping countries secure milk supply, currently expanding its model to Algeria with a USD 3.5 billion investment.
Today, our operations span 19 countries, with about 65,000 employees. We were recently ranked 10th among the top Arab family businesses by Forbes, and UCC was ranked 42nd globally in construction and 10th in energy by ENR.
How do you personally define “social contribution,” especially considering PIH’s presence across multiple countries?
Social contribution is a core parallel track to our business—not just philanthropy. Most of our projects directly transform the lives of surrounding communities by creating local jobs, empowering talents, and strengthening supply chains. They also directly improve quality of life through infrastructure, energy, healthcare, tourism, and hospitality.
In addition, we consistently support local and regional community initiatives—whether sports, cultural, or humanitarian. This stems from our belief in our duty as a national company and as a partner to the communities we serve globally.
How do you view the future of the healthcare sector in light of your investments in this vital area?
Healthcare continues to grow, with the private sector becoming a crucial partner. Two key trends drive this: reducing government healthcare spending (which can exceed 14% of GDP in some countries like Qatar), and the need to upgrade healthcare services in many nations, with the private sector bringing the required resources and expertise. This creates a win-win model.
Estithmar Holding, one of our groups, includes over 2,500 medical professionals and 9 hospitals across Qatar, Algeria, Iraq, and Libya—ranging from full ownership to operational management. We’re expanding to reach 5,000 beds by 2026 and are actively preparing for further regional and global expansion.
What trends do you think will shape the hospitality guest experience in the coming years?
Globally, hospitality is shifting toward branded residences—luxury apartments in globally recognized hotel brands. This segment has grown at a CAGR of 11% over the past four years, and it continues to grow. In Asia alone, the branded residences market was valued at USD 26.6 billion in 2024, with over 68,000 luxury units.
Overall, luxury is thriving across sectors—real estate, hospitality, and entertainment. It has proven resilient against global shocks like COVID-19 and wars. Targeting the high-end market is now the dominant trend.
Equally important are sustainability and creating authentic cultural experiences. Our own experience managing 14 hotels and resorts—such as Waldorf Astoria Maldives, our Qatar-based portfolio, the upcoming Rixos Baghdad Residences, and Rosewood Maldives—shows us how fast expectations are evolving. Strong competition and emerging tourist destinations require constant innovation.
How is PIH adapting to digital transformation and AI, especially given its presence in healthcare and real estate?
Digital transformation is part of our daily culture. We invest in AI to enhance efficiency and create more human-centric experiences. We’ve already undergone a full digital transformation across all companies, integrating digital tools into every sector—working with giants like SAP, Google, and Microsoft.
Internally, we’ve also developed custom platforms and applications, all embedded with AI capabilities. In healthcare, we use AI for diagnosis and operations. In real estate, we rely on smart platforms for asset performance and maintenance. In agriculture, we use AI to monitor supply chains and boost farm productivity. For us, technology is not a replacement for humans—it’s a way to empower them.
What role do you see PIH playing in the next 5–10 years beyond economic diversification?
I aspire for PIH to be a model of both economic and social responsibility. In the coming years, we aim to help build more resilient, self-reliant economies. This includes projects like Baladna for food security, and further expansion in energy, healthcare, telecommunications, real estate, and luxury tourism.
We’ll continue to scale up our public-private partnership (PPP) model, especially given its success in Iraq, Libya, Kazakhstan, and others. We don’t see ourselves as mere developers or operators—we aim to be catalysts for stronger communities, empowered individuals, and a more sustainable planet.
How does PIH stay at the forefront of innovation rather than merely adopting trends?
We start where others stop—adopting global best practices and adapting them to our unique project environments. For instance, in healthcare, we partner with global leaders like Cedars-Sinai (USA) and Asan (Korea), bringing the latest medical tech and the world’s best medical professionals. But more than that, we design care experiences that center on the human being.
In construction, we’ve partnered with COBOD, the global leader in 3D construction printing. We’re currently using the world’s largest 3D printer to build schools in Qatar. This innovation-first mindset helps us lead in every sector we work in.
We also foster a culture of out-of-the-box thinking, experimentation, and fast decision-making. Dedicated teams monitor global trends and translate them into practical opportunities. Our agile operating models allow rapid action—whether launching new projects or adjusting strategies. Innovation, for us, comes from all levels, not just top leadership. That’s why we encourage internal knowledge exchange across all our groups.
How does PIH address ESG (Environmental, Social, Governance) issues in sectors like agriculture and energy?
We treat ESG as a core strategy, not a compliance checkbox. PIH, Estithmar Holding, and Baladna have all adopted the UN Sustainable Development Goals (SDGs), embedding the 17 goals—including gender equality, climate action, and environmental protection—into our operations.
In agriculture, we offer end-to-end solutions that ensure efficient resource use and protect local ecosystems. At Baladna farms and factories, we use advanced technologies that cut water usage by over 50%. In energy, we invest in solar plants, water treatment, and recycling.
We follow strong governance policies built on transparency, integrity, and equal opportunity. Our teams receive ongoing ESG training, and we regularly assess our social and environmental impact.
Moreover, PIH has two publicly listed companies on the Qatar Stock Exchange—Baladna and Estithmar Holding—which reinforces our commitment to governance and capital market standards.
What advice do you have for aspiring entrepreneurs in the GCC? And how do you personally balance your professional and personal life as a business leader?
My advice is to align your ambition with a clear vision and strong values. Building a great team, fostering a healthy culture, and having a long-term strategy are essential to success. Flexibility and adaptability are crucial traits. Keep trying, overcome failure—but always learn from it. And be ready to make bold decisions others may see as risky.
As for work-life balance—it’s a constant challenge, but achievable through delegation, time management, and prioritizing what matters: family, self-growth, even moments of reflection. You can’t lead others if you’re not centered yourself.
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