Abdul Latif Jameel
Saudi company From Wikipedia, the free encyclopedia
Abdul Latif Jameel is a family-owned, diversified business founded in Saudi Arabia in 1945[1] by the late Sheikh Abdul Latif Jameel (1909–1993).[2] Operating across seven core business sectors, the company has a presence in more than 30 countries across six continents.
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| Company type | Private |
|---|---|
| Founded | 1945 |
| Founder | Abdul Latif Jameel |
| Headquarters | , |
Area served | Worldwide |
Key people |
|
| Services | Transportation
Manufacturing Funding Land and Real Estate Energy and Environmental Consumer Products Advertising media |
| Website | www |
History
Summarize
Perspective
1940s–60s
Abdul Latif Jameel was founded in Jeddah, Saudi Arabia, in 1945[1] by Sheikh Abdul Latif Jameel. The company became a Toyota distributor in the Kingdom in 1955.[3]
1970s–2000s
In 1979, the Abdul Latif Jameel United Finance Company (ALJUF) was established.[4]
In 1996, Abdul Latif Jameel established a general trading company[5] in Japan, which now operates an experiential open business center in Tokyo.[6]
The company also established a Toyota distributorship in Turkey.[7]
2010s–present day
In 2013, Abdul Latif Jameel and Sumitomo Corporation formed a joint venture, now known as Abdul Latif Jameel Machinery,[8] to distribute Komatsu heavy equipment in Saudi Arabia.[9]
In 2013, King Abdullah Economic City (KAEC) and Abdul Latif Jameel signed an agreement for the purchase of 1.5 million square meters of land in KAEC’s Industrial Valley. The company committed to investing SR 1.2 billion to build a complex for the import, distribution, component manufacturing, and assembly of cars.[10] The following year, Abdul Latif Jameel signed a joint venture Memorandum of Agreement (MoA) with Dubai-based regional property developer Emaar Properties.[11][12][13]
In 2014, Abdul Latif Jameel entered into a joint venture with the Spain-based company Fotowatio Renewable Ventures (FRV) and subsequently acquired FRV in 2015.[14][15]
In May 2016, Abdul Latif Jameel launched the first Lexus brand distributorship in Turkey.[16] In the same year, the company announced its plan to invest US$2.2 billion in Saudi Arabia over the next five years[17][18] as part of its long-term expansion strategy. This included expanding the Toyota outlet network, opening a Lexus showroom in Riyadh,[19] and establishing a new flagship Komatsu facility in Jeddah.[20][21] Additionally, in 2016, Abdul Latif Jameel Land began construction of J│ONE Residences, its first residential project in Jeddah, Saudi Arabia.[22]
At the World Future Energy Summit 2017 in Abu Dhabi, Abdul Latif Jameel Energy announced the launch of Almar Water Solutions.[23][24] In the same year, Abdul Latif Jameel Energy began construction on two of the largest solar projects in Jordan, known as Mafraq I and Mafraq II. These projects are expected to generate approximately 2% of Jordan's total energy capacity.[25][26][27][28] Additionally, in 2017, the company's electronics division was rebranded and relaunched as Redsea.[29]
In April 2018, Abdul Latif Jameel Land launched J|ONE Residences.[30] In October, the company established the first Lexus showroom in Morocco, unveiling it at the Auto Expo 2018 in Casablanca.[31] Later that year, Abdul Latif Jameel Energy announced its first large-scale solar project in India: the 138-MW DC Solar Farm in Andhra Pradesh.[32] Additionally, Abdul Latif Jameel Machinery formed a strategic partnership with Kanoo Machinery.[33]
In 2019, Abdul Latif Jameel Energy established a wind energy project in Japan. Supported by regional power companies Hokkaido Electric Power Company and Tohoku Electric Power Co., Inc., Abdul Latif Jameel Energy launched its first micro wind turbines at Cape Erimo, Japan’s "Wind Town." In the same year, Abdul Latif Jameel Land and the Al Muhaidib Group partnered to launch a new joint venture, Muheel,[34] an Integrated Facilities Management (IFM) company in Saudi Arabia. Additionally, Abdul Latif Jameel Logistics launched an express delivery service and e-commerce brand, S:mile.[35]
In April 2019, Abdul Latif Jameel Motors was awarded the Gold Award for Business Transformation[36] for its JSAP program at the annual SAP Quality Awards, presented at a ceremony in Heidelberg, Germany.[37] In the same year, Almar Water Solutions,[38] part of Abdul Latif Jameel Energy, secured a contract to develop a desalination plant in the city of Shuqaiq, located on the Red Sea coast of Saudi Arabia.[39]
In November 2021, it was reported that Abdul Latif Jameel's investment unit had accumulated nearly 114 million shares in Rivian, valued at almost $11.5 billion on the closing day of Rivian's IPO.[40]
In September 2022, the company was ranked seventh in Forbes' list of the Middle East's Top 100 Arab Family Businesses.[41]
Management
The founder, Abdul Latif Jameel, ran the company from its formation until his death in 1993, after which his son, Mohammed Abdul Latif Jameel, became chairman and president.[42] Mohammed's eldest son, Fady Mohammed Abdul Latif Jameel, serves as deputy president and vice chairman of Abdul Latif Jameel.[43][44][45] Mohammed's middle son, Hassan Jameel, serves as deputy president and vice chairman of the company's domestic operations in Saudi Arabia.[46][47]
Subsidiaries
The company currently owns and operates the following subsidiaries:
Abdul Latif Jameel Enterprises: The diversification arm in Saudi Arabia.[48]
Abdul Latif Jameel also has an advertising and media division, which includes the advertising agency DelphysME (a joint venture with Delphys[49] of Japan) and the company's captive outdoor advertising business in Saudi Arabia. Additionally, it has an engineering and manufacturing division that manages the aftermarket vehicle parts business.
Philanthropy
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Perspective
Abdul Latif Jameel Community Initiatives, the global philanthropy arm of Abdul Latif Jameel, was established in 2003[50] and renamed Community Jameel in 2016. It engages in socio-economic initiatives across six focus areas:
- Job creation across the Middle East (through Bab Rizq Jameel)
- Global poverty alleviation[51]
- Global water and food issues[52]
- Education and training[53]
- Health and social schemes
- Promoting Arabic arts and culture through Art Jameel
In 2005, with support from Abdul Latif Jameel Community Initiatives, the Poverty Action Lab at MIT was renamed the Abdul Latif Jameel Poverty Action Lab (J-PAL) in honor of Sheikh Abdul Latif Jameel. In 2006, Art Jameel,[54] the sister organization of Community Jameel focused on arts and culture, launched the first Jameel Prize,[55] an international award for contemporary art and design inspired by Islamic tradition,[56][57] at the V&A.
In 2007, Community Jameel created Bab Rizq Jameel (BRJ), dedicated entirely to job creation programs, including training programs designed to lead to employment.[58] Between 2003 and 2015, BRJ helped approximately 490,000 people in Saudi Arabia and around 720,000 people across the region find employment. In 2015, Bab Rizq Jameel generated 81,057[59] employment opportunities in Saudi Arabia. BRJ also established the Jameel Bazaar, a commercial incubator space that allows female entrepreneurs to open small shops and offices.
In 2011, Community Jameel inaugurated a new branch of Bab Rizq Jameel in Istanbul, Turkey.[60] In 2014, the Abdul Latif Jameel World Water and Food Systems Lab[52] (J-WAFS) at MIT was created to conduct research aimed at addressing the shortage of food and water due to climate change and population growth. In 2015, a program to commercialize this research was established.[61]
In July 2014, Saudi Aramco announced its partnership with Community Jameel for a traffic safety program in Saudi Arabia’s Western region.[62] In March 2015, BRJ won an award in the CSR category at the Arab Social Media Influencers Awards.[63]
See also
References
External links
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