In 2023, the North African nation of Libya witnessed its GDP surge by 12.6%, attributed to sustained oil production made possible by the improved security situation. Its economy is heavily dependent on oil and gas, which constitute 97% of exports, more than 90% of fiscal revenues, and 68% of GDP, according to the Arab Development Bank Group. For the Libyan-owned Ghrghar Group, diversifying economic dependence and redefining urban living for the future of the country is critical to catering to a diverse population and setting new standards for development in North Africa.
Ghrghar Construction is currently developing the Tajura Compound, one of the largest residential complexes in Libya, featuring 470 homes, estimated to be completed in Q4 2025. It is followed closely by Tripoli Hills, which features 90 villas and is currently in the selling phase. “Our projects are not just about construction; they are about creating spaces that foster community and drive economic development,” says Mahmoud Ghrghar, CEO of the Ghrghar Group. “These developments will significantly enhance the availability of high-quality, affordable housing, benefiting approximately 560 families and young professionals seeking to buy or rent.”
Similarly, Ghrghar Construction’s commercial project in Egypt’s Nasr City will be one of the largest ultramodern commercial buildings in the region, featuring 14 floors, each encompassing 3,370 square meters. The project is estimated to cost $41.2 million with an expected completion date of Q3 2027. The structure will accommodate 244 offices alongside various amenities, including the first ultra-modern plug-and-work subscription workstations for nearly 500 freelancers, a gym, restaurants, and a sky lounge.
While a key industry, construction is only one of several business interests for the Dubai-headquartered Ghrghar Group. The diversified multinational private conglomerate has over 16 businesses across three continents and operates in sectors such as real estate, construction, hospitality, food and beverage, industrial goods, manufacturing, agriculture, and facilities management in Egypt, Libya, the U.A.E., and the U.K.
Its origins can be traced back to its founder and chairman, Ismail Ghrghar, whose entrepreneurial spirit laid the foundation in 1993 for what is now a global enterprise. “Our family’s legacy is our greatest asset,” the CEO remarks. Ghrghar’s brothers—Omar, Malik, and Badr—are also involved in the business and serve as vice chairman, managing partner, and managing partner, respectively. “Each generation has brought its own strengths and ideas, ensuring that we remain relevant and forward-thinking,” adds the CEO, who leads manufacturing and engineering in the U.A.E. and global business development and acquisitions. Meanwhile, Omar steers global financial investments and asset management in Egypt, Malik spearheads real estate in Libya and trading in Asia, and Badr leads agriculture in North Africa and the U.K. and real estate in Europe and the U.A.E.
The CEO’s professional journey is a testament to the values and vision that drive the Ghrghar Group. After graduating from the University of Strathclyde in 2018, the mechanical engineer dived straight into the family business. Still, this wasn’t his first job. From working in a factory making bottled water to selling mobile phones, Ghrghar was involved in several different side hustles from the age of 11. “I’m proud of the fact that I started working at an early age and was encouraged to pursue entrepreneurial activities as a child by my father,” he recalls.
Joining the Ghrghar Group in 2018 presented its own set of challenges. “Transitioning into the family business wasn’t easy. There were high expectations and the pressure to uphold our legacy,” he admits. However, he brought a fresh perspective and a keen eye for innovation, helping to steer the company towards new opportunities. “Before I joined, we had a good manufacturing plant, but it wasn’t that big; it only had five engineers,” shares Ghrghar. “My goal was to modernize our operations and integrate technology into our core processes.” Under his leadership, the R&D department for engineering innovation has since grown to 35 people working on different products.
Innovation has always been a cornerstone of Ghrghar Group’s strategy. The conglomerate has embraced artificial intelligence (AI) and other advanced technologies to enhance its manufacturing operations and product offerings. “From AI-driven manufacturing processes to smart products like robots and smart vehicles, we are at the forefront of technological integration,” says the CEO. He’s not alone in harnessing AI’s potential; 92% of entrepreneurs in the U.A.E. express confidence in navigating AI technologies to enhance their businesses, according to GoDaddy’s 2024 Global Entrepreneurship Survey. Similarly, 2024 research by KPMG found that 84% of Middle East CEOs in family businesses are investing in automation this year, and 66% plan to deploy advanced technology such as cloud tech and AI.
The introduction of agile methodologies has revolutionized the company’s culture. “Agility allows us to respond quickly to market changes and fosters a collaborative environment,” Ghrghar notes, elaborating on the successes of implementing this model, such as vast buy-in initiatives from colleagues, improved efficiencies, competencies, and accountability to projects. “We adopted the agile model because we want people to be the focus of all our businesses. Without people we have no business, they must be represented.” Profit-sharing schemes have also been instrumental in motivating employees and aligning their goals with the group’s success. “Transparency is our core value and helps us create a rewarding work environment,” he adds. “When our employees share in our success, it drives them to contribute even more.”
According to a 2024 Employee Loyalty in the MENA survey by Bayt.com and YouGov, 60% of respondents cited a focus on increased recognition and rewards for employers to boost loyalty among their staff. This was followed by the creation of growth opportunities, pointed out by 52%, and the facilitation of regular discussion forums to understand and address employee grievances, emphasized by 50%. “Our survey reveals a powerful correlation between trust in leadership and employee allegiance,” explained Ola Haddad, General Manager at Bayt.com, in a statement. “As workplaces strive for excellence, it becomes increasingly clear that management’s transparency and recognition of their workforce’s contributions serve as the cornerstone of building a loyal and engaged team.”
As a father of two young sons, Ghrghar is adamant about building a strong foundation of employee loyalty and succession for the third generation of the family business. “My father gave us real responsibility at work as well as the space to fail, learn, and go again,” he says. “Besides doing this with my children, I will ensure I will not be their boss. Engagement and accountability must exist with all members of the leadership and wider teams.”
Looking ahead, the Ghrghar Group is committed to sustainability and long-term growth. The CEO envisions the company becoming a listed entity by 2028, a move that will further solidify its position in the global market. “Sustainability is at the core of our future plans,” the CEO emphasizes. “Our goal is to become a listed company by 2028 and we are on track to achieve this target—this is our moonshot.”
