Interview with Mr. Turki al Jaafari,
CEO of SITAF Saudia
If you are looking for foreign investment success stories in KSA, look no further. SITAF arrived in the early seventies, pulling off the
unlikely feat of selling waterproofing in the Arabian Desert - the clue being that the systems they introduced also provide heat insulation. Since then, SITAF has branched out into long haul
telecommunications cables – they have laid 21,000 kilometres of them across the GCC by now, including the pan-GCC Hotline Communication Network. The company also builds networks and installs
microwave towers and cooling chambers. In short: they take charge of hardware construction and maintenance in a hostile climate. Mr. Turki al Jaafari, currently CEO of SITAF Saudiya joined the
company in the early nineties and brought in prince Saad bin Abdullah as a partner.
Since then, SITAF has laid real roots in the kingdom and the GCC. “Back then, SITAF operated as an international company which could leave at the drop of a
hat, acquiring virtually no assets or real estate locally. When the prince and me came in, we worked hard on increasing local assets, equipment and other resources. We set up branches in other GCC
countries, Jordan and Sudan. We are now looking at setting up shop in Kurdistan. The project is still on hold due to the political situation, but in the long run we believe that Kurdistan will become
independent and receive huge backing and financing from the US, who will want to control it to maintain the balance of power in the region.”
On the evolution and growth of the company, Al Jaafari says: “Waterproofing was the core business of the company. But from 1986 onwards, when the country started including the then newly developed fibre cable in its urban planning, we got into telecommunications.” Back then, not everybody was convinced of the durability of that field of business: “People tended to see it as a fad or a trend, something temporary that would come and go. But telecom is now the backbone of the construction industry for all sectors - entertainment, trading, business, banking, e-government - and this infrastructure needs to be maintained, expanded and upgraded.”
Our latest investment report on Kuwait was recently published in one of the leading Spanish dailies, ABC. FindMe in Kuwait explores the economic perspectives of Kuwait and the country´s future plans to compete with its fast developing neighbours. Once the leading country of the Gulf, Kuwait has remained silent for the past decade. And although many would like to see faster changes, Kuwait is moving, at its pace, to them. Inexorably. Learn about who is who in Kuwait and read what the leaders say about their own future in our upcoming release: FindMe in Kuwait Mobile app.
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Global Gulf Consulting has concluded its latest production on Bahrain, FindMe in Bahrain giving the country a fresh approach after a couple of difficult years of local demonstrations that matched the global recession. Bahrain is a small island in the Arabian Gulf with an incredible potential for logistics, industries and tourism. FindMe in Bahrain was supported by both the public and private sector of Bahrain. Banagas, Nass Corporation, BBK and DHL were GGC strategic partners in the development of the series among others.
FindMe in Bahrain is available at the local bookstores Jashamal and online as well as in the Apple Store. It is a full business leisure and business guide for any investor or visitor interested in traveling to Bahrain or for those that already live there.
FindMe in Saudi offers a multi-faceted overview combining business and leisure, economy and heritage. The book aims to capture the current development of Saudi Arabia in the words of the people who live and work there. It is an authoritative source of information for investors, businessmen and travellers produced to firmly position KSA as an attractive investment destination.
In contains general information about the country´ economic performance and who is who as a sectorial overview and a leisure guide.
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