Estithmar Holding

Qatari holding company

Company type

holding company

Industryhealthcare, services, ventures, contracting & industries, financial investments

Founded2022 in Doha, Qatar

Headquarters

Estithmar Holding QPSC
Company type	holding company
Industry	healthcare, services, ventures, contracting & industries, financial investments
Founded	2022 in Doha, Qatar
Headquarters	Doha , Qatar
Key people	Moutaz Al-Khayyat, Chairman Ramez Al-Khayyat, Vice Chairman & President
Website	www.estithmarholding.com

Estithmar Holding QPSC is a holding company headquartered in Doha, Qatar,^[1]^[2] that manages 129 companies across 10 countries.^[3]^[4]^[5] The company's chairman is Moutaz Al-Khayyat, who also serves as Chairman of Power International Holding, UCC Holding, Baladna QPSC, Assets Group, Aura Group, and TMT Group.^[6]

The company is listed on the Qatar Stock Exchange and had a market capitalization of 4.6 billion USD in 2025.^[2]^[7]

Estithmar Holding, formerly Elegancia Group, was part of a 2022 reverse merger that created the company as it is known today. Estithmar Holding went public on the Qatar Stock Exchange in 2022 under the IGRD ticker symbol.^[8]^[7]

In 2022, Estithmar Holding expanded into the healthcare, services, real estate & touristic development and contracting & industries sectors. Many of Estithmar Holding's projects in Qatar were also opened in 2022, such as The View Hospital, Al Maha Island, Lusail Winter Wonderland, Katara Hills LXR resort, and Maysan Doha LXR resort.^[8]

During the FIFA World Cup 2022, Elegancia Services, a subsidiary of Estithmar Holding, secured major services for the tournament, including catering, facilities management, security, and resources.^[9]

In 2023, the company's subsidiary Elegancia Arabia expanded into Saudi Arabia, which would soon engage in mega projects like Neom, Red Sea Global, and Shura Island. Also in 2023, the company signed a memorandum of understanding with the Algerian Investment Fund to launch the Algerian Qatari German Hospital.^[10]^[11]^[12]

In 2024, Estithmar Holding launched projects like Rixos Baghdad Hotel & Residences and Rosewood Maldives. The company also signed more agreements with regional governments to manage and operate healthcare facilities, such as Al Imam Al Hassan Al Mujtaba Hospital, Karbala, Iraq; Al Nasiriyah Teaching Hospital, Dhi Qar Governorate, Iraq; and Misrata Heart and Cardiovascular Center, Misrata, Libya.^[13] The Korean Medical Center in Lusail was also opened in 2024.^[14]^[13]

In September 2024, Estithmar Holding listed its Sukuk on the London Stock Exchange, which was the first Qatari riyal listing on the exchange.^[15]^[16]

References

↑ "Estithmar Holding QPSC, IGRD:DSM profile - FT.com". markets.ft.com. Retrieved April 23, 2026.
1 2 "Estithmar Holding Q.P.S.C. (IGRD.QA) Company Profile & Facts". Yahoo Finance. March 13, 2025. Retrieved April 23, 2026.
↑ Team, Doha News (April 21, 2025). "Estithmar Holding records remarkable net profit surge in first quarter of 2025". Retrieved April 23, 2026.
↑ Newspaper, The Peninsula (October 28, 2025). "Estithmar Holding reports 66% revenue growth to QAR 4.9bn and 99% increase in net profit to QAR 703mn for nine months ended September 30, 2025". thepeninsulaqatar.com. Retrieved April 23, 2026.
↑ Tribune, Qatar; Network, Tribune News (April 21, 2025). "Estithmar Holding reports exceptional 50% surge in net profit to QR170 million". Qatar Tribune. Retrieved April 23, 2026.
↑ Mughal, Waqar. "Power International Holding (PIH)". Retrieved April 23, 2026.
1 2 "Estithmar Holding (IGRD.QA)". Reuters. Retrieved April 23, 2026.
1 2 "IGRD: 10-08-2022". Retrieved April 23, 2026.
↑ "Estithmar Holding prioritises worker education in preparation for World Cup". Gulf Times. July 19, 2022. Retrieved April 23, 2026.
↑ "Estithmar Holding Signs Inauguration Agreement of Algerian-Qatari-German Hospital in Partnership with Algerian Health Ministry". Qatar News Agency. October 12, 2023. Retrieved April 23, 2026.
↑ Newspaper, The Peninsula (September 21, 2023). "Arqaam capital publishes Estithmar Holding Q.P.S.C Initiation Report". thepeninsulaqatar.com. Retrieved April 23, 2026.
↑ The Peninsula (July 6, 2023). "Elegancia Arabia, the Saudi subsidiary of Estithmar Holding, secures two new MEP projects on Al Shura Island". thepeninsulaqatar.com. Retrieved April 23, 2026.
1 2 Newspaper, The Peninsula (July 30, 2025). "Estithmar Holding reports record half-year results for 2025". thepeninsulaqatar.com. Retrieved April 23, 2026.
↑ "Estithmar net profit increases by 20%, revenues rise by 44%". Arab News. February 15, 2025. Retrieved April 23, 2026.
↑ "London Stock Exchange | London Stock Exchange". www.londonstockexchange.com. Retrieved April 23, 2026.
↑ "Estithmar Holding Lists First Corporate Sukuk in Qatari Riyals on London Stock Exchange". Qatar News Agency. September 19, 2024. Retrieved April 23, 2026.

External links

Official website

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