SPECIAL REPORT
ZAID S. AL KHAYYAT MANAGING DIRECTOR, AL KHAYYAT INVESTMENTS (AKI)
years, the GCC region has shown great resilience in withstanding a global pandemic, rising inflation, unpredictable supply chains, and a host of other international headwinds. The Gulf economy continues on a path to further growth, estimated at a 3.6 per cent uptick in 2024 and 3.7 per cent in 2025, according to recent World Bank forecasts. A main factor underscoring this positive outlook is the diversification efforts of governments and enterprises across the region. Today, the GCC is not only a global marketplace, but a dynamic ecosystem where adaptability is the currency of success. We have seen this firsthand at AKI. For over four decades, we have shared the region’s spirit, energy, and optimism for what is possible. We are wholly committed to contributing to the diversification and enlargement of our home economies, and supporting plans like the Dubai Economic Agenda ‘D33’. Diversification is not merely a strategy; it must be ingrained in the fabrics of the business. One must actively seek out change, driven by an entrepreneurial spirit. In this sense, AKI stands as a testament to the economic opportunity at hand in the GCC today. Over the past year, AKI has diversified across its ten business units and within six core industries, including retail, healthcare, consumer goods, fitness and lifestyle, contracting, and automotive. While being a trusted partner to global brands, we have been pioneers of new, locally inspired concepts across these various sectors, like that of BinSina pharmacy which has continuously been at the forefront and spearheaded innovation in the pharma sector, or Befit which seeks to provide an integrated and holistic fitness destination to sports and fitness enthusiasts in the region. This has been crucial to expanding AKI’s footprint geographically. Born out of the UAE, we now proudly provide products and services in nine countries across the Middle East and Africa region. This approach is not a reactive measure. It is a proactive stance reflecting an understanding of the evolving needs of the communities we serve. In the retail landscape, for instance, AKI collaborations with partners such as Superdry, Petit Bateau, adL, and Nanàn speak to the importance of aligning with shifting consumer preferences in the ‘moments’ economy, where customer experiences are king. It is
For over four decades, we have shared the region’s spirit, energy, and optimism for what is possible.” also why we have diversified the ways that we engage consumers, doubling down on our investments in e-commerce and mobile-led experiences. Meanwhile, in recent years, a demand for new forms of healthcare solutions has emerged in the region. In our case, being attuned to the unique preferences of patients and healthcare providers enabled us to make strategic investments in supporting evolving health priorities. The success of AKI Healthcare, MedLab, and Pharma reflect the region’s appetite for comprehensive healthcare solutions and a holistic approach to well-being. Our belief in seizing new opportunities is visible in other areas too. Our Gulf Contracting & Landscaping (GCL) business has transcended beyond erecting structures to crafting sustainable spaces and landscapes that resonate with the spirit of the community. At the same time, AKI Consumer Goods division (food and non-food) now ranks among the top three largest UAE FMCG suppliers. The potential for investment diversification is larger than ever in 2024. In a landscape where economic paradigms shift and consumer preferences evolve, businesses in the GCC would do well to diversify.
51