Moafaq Ahmed Al Gaddah on leadership | MAG Group

Transcript

Moafaq Ahmed Al Gaddah is the world’s 16th most influential Arab according to the Arabian Business Review’s Power 500 survey. His company, MAG Group, controls 50 companies across the Middle East, operating in a broad range of sectors. He explains the importance of having a diverse investment foundation and how his ability to “translate vision into reality” has brought success after success.

World Finance: First, give me an overview of MAG Group: the size of your business, and the sectors you’re working in.

Moafaq Ahmed Al Gaddah: The MAG Group was founded and started in the UAE in 1978. We began in the field of spare parts for vehicles: a small enterprise. We developed and grew with the local and regional market, and have developed within the last 10 years into the international market.

As we developed in stages, we gradually entered into other fields; industry, commerce, hotel services and maritime shipment. Praise be to God, we achieved successes in all these fields and in industry, such as the manufacture of oils, metals, pharmaceuticals and the development of real estate.

The basis for the principles and strength of the company is increasing annual growth. From our beginning to 2011 or 2012, we have always achieved better results than the previous year. Now, if God wills, we will have investments outside the region, such as in the US or in some European markets.

Every year we are always able – if God wills – to start something new.

“You must always think of innovation. Without this you will be waiting for opportunities, instead of creating opportunities”

World Finance: You’ve described leadership as “the ability to translate vision into reality”. Where does that idea come from, and what does it mean to you?

Moafaq Ahmed Al Gaddah: Before doing any work, you must have a vision. But vision is not enough to achieve your goals. Vision requires a very important element. That is the element of follow-up.

With any vision we have in any project, we set out the vision. The follow-up comes after that, together with the people appropriate for that work. By this means we have been able, praise be to God, to achieve all or most of our visions. We have brought them into reality. What began as a vision was followed by work, follow-up, and results. This achieves the result, and the result has been good and satisfying.

This has encouraged us to once again fulfil our vision and open up new projects, and achieve satisfying results from them.

In general, we always seek to complete this circle, and not develop part of a circle; and praise be to God, we have achieved this. Therefore when starting a new project that will be crowned with success – if God wills – and achieve the objectives we have prescribed for it.

World Finance: Tell us about your commercial and industrial businesses. How important is it to have this strong foundation to build upon?

Moafaq Ahmed Al Gaddah: Naturally any investment group must have a varied basket for the stability and strength of the group. After the success we achieved during our first 20 years, we found that we must have a very secure base.

A secure base in the economy requires first of all a variety in commercial, industrial, and service fields, as well as others. Now our industrial, commercial and services projects are among the successful projects that have achieved excellent results. During most periods we have seen the development and opening up of projects in this field. But we must repeat the same point: any economically strong group must operate in various fields.

“We are initiating an average of two projects each year with total value that might reach AED 1bn in our future plan”

World Finance: The UAE is well-known for its real estate sector; how is MAG Group involved?

Moafaq Ahmed Al Gaddah: We were among the groups that participated and entered into the Emirates market, and Dubai in particular, in property. We were among the companies that contributed to the development of many excellent property projects. This market – Dubai – is a leading market in all senses of the word. It is a leader in initiating projects; a leader in quality; a leader in size.

At MAG Group we have contributed to the opening up of some excellent projects. We have completed our projects and handed over the largest part. Now we are initiating an average of two projects each year with total value that might reach AED 1bn in our future plan.

World Finance: You also have an investment company, investing elsewhere in the world. Tell me about the work it’s doing.

Moafaq Ahmed Al Gaddah: The Overseas Investment Group is an affiliate company of one of our companies. It was established to construct a major distinctive project in Damascus with the Iamaar Property Company.

The total value of the project was about $1.5bn. It is an integrated town consisting of a financial district, or securities market, for the city of Damascus. It also has a residential area with the largest financing in Syria and the region. It was a factor of great attraction for many companies, banks, and petroleum companies and their head offices, in this town.

The Investment Group also operated other projects such as the Nobles 101 project. This is a high quality housing project. It also operated pastureland projects in Syria

It is now moving towards specialisation in foodstuffs, and in restaurants. This is because the group bought The Club of the East, a very old established club and one of the oldest restaurants in Syria.

The Group also manages businesses outside the UAE, and it operates in other fields in a number of European countries and in America.

“Our vision is that in the future we will have no limits”

World Finance: Innovation is an important part of leadership; what are you doing differently?

Moafaq Ahmed Al Gaddah: Success always demands that you think in a way that is different from others, so that your name is always successful: and you are not successful merely for a short period of time.

You must always think of innovation. Without this you will be a traditional man or leader like others: waiting for opportunities, instead of creating opportunities. We adopt the principle that we will create the opportunity, not wait for it or copy others.

This is always my principal objective that I personally have. I try to have a team of workers and the group with the same objective.

Our vision in the group is that we are transformed, so that in the future we will have no limits. In a number of years time, to be transformed into company that has operations in most countries around the world, that is developing locally, regionally and internationally; distinguished by our business, always able to be inventive, always able to perform and able to achieve results.

World Finance: Mr Al Gaddah: thank you, shukran.

Moafaq Ahmed Al Gaddah: Thank you, you’re welcome.