Working at the intersection of real estate, finance, and technology, this Saudi entity is growing and enhancing the sustainability of its subsidiaries through digital transformation
Quara Holding, the region’s leading real estate conglomerate, financial investor, technology startup incubator, and innovation hub began its investment journey in 1994, turning its flagship Dar Al Arkan into Saudi Arabia’s largest real estate developer.
The company was born with an eye on the future and built on a strategic ecosystem, bringing together three industries: Real estate, finance, and technology.
As the digital era emerged, Quara Holding expanded locally and regionally, and into the financial, mortgage, and insurance sectors – enriching customer experience.
There are now 14 companies operating under the Quara Holding umbrella, providing its services to about two million users, with an ecosystem spanning five industries in about a dozen countries around the world.
The company’s portfolio extends from Dar Al Arkan Properties, the largest company of its kind in Saudi Arabia, to Quara Blockchain, a technology-based company leading the Kingdom into blockchain technology through innovative software solutions, and other prominent ventures such as Quara Finance, Saudi Home Loans, Dar Al Arkan Development, Bahrain Financing Company, Quara Pay, Wasalt, Quara Robotics, and more.
“At Quara Holding, our strategic investments in Saudi Arabia and beyond, and our goals for the future are aligned with Vision 2030 as we work towards technologically empowering and boosting the Kingdom’s competitiveness on the world stage,” says the Vice-Chairman of Quara Holding, Ziad El Chaar, in an interview with Al Arabiya English.
“As a company with multi-sectoral investments in 12 countries, we offer a host of cutting-edge solutions to compete with the best on a global scale that reflects our commitment to contributing to the Kingdom’s progress and growth,” he says.
El Chaar is responsible for leading and supervising Quara’s operations and managing its investments across diverse sectors in various countries.
“Right from when we started, we have been driving innovation in the Kingdom,” he says.
Turning point
The launch of Dar Al Arkan and SHL Finance Company marked a turning point in the real estate industry in Saudi Arabia. It not only made home ownership accessible, but also elevated the standards of development across the company’s portfolio of commercial, residential, and mixed-use projects.
Working at the intersection of real estate, finance, and technology, “we are growing and enhancing the sustainability of our subsidiaries through digital transformation. For instance, our home-grown technological capabilities have brought innovations to the construction sector, building a pipeline of tech talent, in line with the goals of Vision 2030,” El Chaar says.
With technology at its core, Wasalt – a cutting-edge and dynamic real estate platform – is another example of how the group is constantly pushing boundaries and setting new standards in the region’s real estate.
“The suite of tech solutions developed in-house are revolutionizing the way users experience the Saudi real estate market and reflect our commitment to provide best-in-class digital services to enhance transparency and improve offerings,” says El Chaar.
Furthermore, by providing innovative financing products and solutions for individuals and SMEs, Quara Finance supports the government’s focus on developing the Kingdom’s financial technology services infrastructure and financing program targets. This helps Quara deliver more value to the economy, complementing the goals of Saudi Vision 2030.
“Leveraging advanced digital capabilities to integrate modern technology solutions across traditional sectors of real estate and financial services has enabled us to create synergies across our various businesses, improve operations, and provide better products and services to customers,” says El Chaar.
“The autonomous solutions we provide through Quara Robotics are serviced through a convenient cloud service. These solutions empower industries and help customers increase efficiency, simplify processes, and easily integrate with many indoor and outdoor applications. We also develop intelligent systems through Quara AI to solve numerous consumer and enterprise challenges.
“Meanwhile, by embracing 3D construction printing technology, we are delivering both cost as well as time savings for the client,” he adds.
Tech-driven investment
Explaining the group’s vision El Chaar says: “Today, Quara Holding has emerged as one of the most technology-driven investment holding companies in Saudi Arabia. We remain committed to leading the way in driving digital integration across our subsidiaries and developing smart solutions to build brands that ensure sustainable returns for years to come.
“Technology will be at the heart of all our operations as we further increase our footprint in real estate development and financial services, both in Saudi Arabia and beyond. Going forward, we aim to deliver innovative and leading financial solutions to spearhead digital growth in Saudi Arabia and boost its efficiency, agility, and competitiveness.”
About strategic plans for the future, especially in the real estate sector, he said: “Our goal is to expand our real estate portfolio across the GCC, UK, and Spain while we also look for new growth opportunities in vibrant markets such as the US and Greece. Also, as we move into a tech-powered future. We are keen on building an AI startup to provide AI solutions to the real estate industry.”
Under its award-winning venture, Dar Al Arkan, and through DarGlobal, he said the group will continue to deliver thriving integrated communities planned by world-class architects and built with top-quality materials in Saudi Arabia. “Our numerous co-branded projects, developed in collaboration with top fashion icons, will further enrich the unique residential offerings across the Middle East and Europe.
“Our vision for DarGlobal is to access a larger pool of investors and partners to support our expansion ambitions in the global luxury real estate landscape,” he says.
Overseas investment portfolio
From real estate to technology to finance, Quara Holding’s investment portfolio today spreads across multiple industries in more than 12 countries around the world.
Besides, its highly differentiated international real estate business, DarGlobal, has been reshaping the global luxury real estate market through operations in eight countries, which include the UAE, Oman, Qatar, Spain, the UK, and the Maldives.
Moreover, DarGlobal’s collaborations with the world’s most celebrated brands, such as W Hotels, Missoni, Versace, Pagani, ELIE SAAB, Dolce & Gabbana, the Trump Organization, and Automobili Lamborghini have led to the development of a host of distinguished properties in these locations, delivering the limited edition of real estate to our clients.
Listed on the London Stock Exchange since February 2023, the company’s first project in continental Europe is Tierra Viva, an architectural jewel comprising 53 grand villas set within the ultra-exclusive locality of Benahavis, close to Marbella on the south coast of Spain, and developed in collaboration with Automobili Lamborghini.
DarGlobal’s largest active project is AIDA in Muscat, Oman, and in partnership with the renowned luxury brand, Dolce & Gabbana, it has debuted in the hospitality industry in the Maldives.
Marea, with interiors by Missoni, is DarGlobal’s second residential development project along the Costa del Sol in the south of Spain.
“Therefore, while strengthening our position in the Kingdom remains a priority, we are equally focused on growing our foothold globally on the back of unique offerings and collaborations,” says El Chaar, who was previously CEO for Ventures & Business Development at Emaar Properties PJSC and Managing Director of Damac Properties in Dubai.
Robotics, AI, and Blockchain ventures
“As a future-forward company, Quora Holding has always attempted to diversify its investment pool in accordance with market demand, and today, innovative digital solutions offer an opportunity to scale up business performance. Therefore, we are steadfastly committed to introducing cutting-edge technological advancements into the thriving Saudi market,” El Chaar adds.
He pointed out the initiative to establish the very first robotics showroom in Riyadh early last year, which is considered to be a significant milestone in the company’s efforts to contribute to the growth of the technology sector in Saudi Arabia.
The robotics showroom is aimed at helping shape public perception towards robotics in support of creating a smart society in the Kingdom.
“Additionally, we are thrilled to announce Quara AI, a company that we believe will further elevate our efforts to bolster our technology prowess to the next level,” El Chaar says.
Digitization, tokenization real estate portfolio
As a key player in the rapidly evolving real estate landscape, Quara Holding has always strived to be future-ready by embracing best-in-class technologies and solutions.
“For instance, we established the leading real estate and auctions platform, Wasalt, Quara Holding’s digital real estate platform, enhancing operational efficiency and underscoring our dedication to providing unparalleled customer experiences and setting new standards in the industry. Today, Wasalt is revolutionizing the traditional real estate market and is among Quara’s top digitization investments, providing a hassle-free and integrated experience for property seekers and advertisers.”
Through its collaboration with COBOD, the company introduced 3D Construction Printing technology for the first time in Saudi Arabia.
He further says: “Looking ahead, we will continue to leverage technology under our digital-first approach to elevate customer experience and shape the future of real estate, both in the Kingdom and in the other markets we operate in.”
Robots and the future of business
Quara Holding has launched Quara Robotics, a robotic automation and artificial intelligence (AI) company that will lead the way in ground-breaking technology and shape Industrial Revolution 5.0 in the Kingdom.
Quadra Robotics will develop and program robots for indoor and outdoor activities by utilizing machine learning, voice recognition, and complete 100 percent autonomy.
Through Quara Robotics’ partnership with worldwide technology leaders, these robots will help businesses reduce cost, save time, improve efficiency, remain contactless, enhance customer experiences, reduce the spread of infectious diseases, and scale up human skills.
Sustainability policy
Regarding Quara Holding’s sustainability policy across the different sectors the group operates in, El Chaar says: “Our commitment to a sustainable future is reflected in our strategic investments in pioneering technology and innovative solutions.”
He concludes: “Beyond seeking financial gains, our goal is to drive transformative impact across the industries and regions we serve. Through a diverse portfolio of companies, we aim to be catalysts for positive change, fostering environmental stewardship and sustainable growth.”
Source: Al Arabiya
