Over the course of six years, Tamear has risen significantly in the challenging construction market of Saudi Arabia. It has even blossomed into a successful business despite the market fluctuations that have occurred as a result of the COVID-19 pandemic, having sustained its strengths and positive cashflows. This is largely thanks to the contributions of the company’s current CEO, Mr. Mohammed Al Mymuni. As such, he has earned himself the title of Most Influential CEO, 2022 – Saudi Arabia – Join us as we explore his approach to business…
Spawning from a collaboration between Al Akaria, the first and the renowned Saudi-based real estate development company, and the Turkish company, Kaya Homes, Saudi real estate construction company, Tamear has overcome significant challenges since its formation in 2016. Due to organisational disruptions and market recession Tamear ran into significant financial crises including the unprecedented reversals in cashflows. However, in recent years, its recovery has been bolstered by the leadership of the company’s CEO, Mohammed Al Mymuni. Indeed, Tamear is now thriving and has since lent its expertise to multi-billion-riyal projects.
Tamear specialises in high-quality construction projects in both the residential and commercial sectors. From hotels to malls, and hospitals to homes, Tamear offers a bespoke service, resulting in unique and highly modern builds. Moreover, the company prides itself on providing a full service, spanning from the initial development of the concept to the finalisation of the project. As such, the company has cultivated an efficient global management team, which – through the usage of contemporary building techniques – allows the company to work on multiple projects at the same time. Further, it ensures that projects will be completed efficiently and cost effectively.
Consequently, Tamear boasts an impressive clientele across Saudi Arabia, through which it contributes to nationally prestigious projects. This includes The Housing Program, an initiative launched in 2018 that aims to increase access to affordable and appropriate housing. In addition, Tamear contributed its expertise in the Red Sea Project – an iconic tourism project along the coastline. The first phase of the project is set to be completed by 2023, in which it will possess five developed islands and 16 hotels. On top of these, it has extended its cooperation with ROSHN, AMAALA, and many more.
After two turbulent years, the industry in Saudi Arabia is beginning to regain stability. Throughout the peak of the pandemic, the company found itself greatly impacted by a plethora of new challenges. A primary cause for concern was the dramatic increase in costs which was brought about by idle equipment, a lack of manpower, and extra preventive measures, such as daily employee screening, thermal reading, and facility management and sanitising requirements. Additionally, the acquisition of new materials and equipment was drastically reduced thanks to the introduction of social distancing guidelines and the subsequent supply chain disruptions.
Of course, a key element within the success of the company during this period was its highly talented and skilled team. Mohammed Al Mymuni believes that this can be attributed to, ‘team management and team contribution under the leadership of well-versed and qualified executive management.’ Additionally, Tamear has armed itself with a stringent recruitment process, within which it searches for the best hires for its business. Each team member is multi-skilled, maintaining a selection of sought-after traits, including dependability, flexibility, and a solid work ethic. Communication is key and, in turn, such traits guarantee efficacy.
Much of this approach has its roots within the leadership style of the CEO, Mohammed Al Mymuni. He comments that the ‘primary focus should revolve around developing and championing the organisation’s strategy,’ and that a ‘CEO must be decisive, engage for impact, adapt proactively, and deliver reliably.’
Prior to his current role, Al Mymuni enjoyed a brief stint as Tamear’s deputy CEO. Within such positions, he has been able to draw upon his experience as Al Akaria’s executive director, as well as his time as a project director, advisor, vice chairman. This is in addition to his engineering knowledge and leadership skills gained from multiple profitable global organisations by establishing new strategies and initiatives increasing revenues, growth in terms of business expansion, increasing profitability by building strategic partnerships, and making strategic business decisions with wide experience. As executive management, he has been a decision maker for national, international, public and private organisations in core establishment of PPP, sustainable development, building techniques, contracting and innovation in construction, affordable housing, projects and portfolios management, real estate development, business strategies, arbitration and international defence and aerospace with critical infrastructure.
An alum of the prestigious King Saud University, the CEO earned a BSc in Civil Engineering, and in 2001, he continued his education, gaining a master’s degree in Building Science and Technologies. From civil engineering to sustainable development, and project planning to construction, over the years, Mohammed Al Mymuni has garnered an extensive understanding of the industry.
His past has been filled with abundance, but does his future promise equal prosperity? The simple answer is yes, it does. There are numerous plans in the pipeline upon which he plans to capitalise in order to boost his own career. He is enacting tried and tested techniques, including setting specific, measurable career development goals, creating and implementing a career development plan, and keeping motivated at work.
On the whole, over the next year, Tamear will be basing its work around the aftermath of the COVID-19 pandemic. There are numerous opportunities emerging and, as a direct consequence, Trading Economics predicts that GDP from construction in Saudi Arabia is expected to hit 30,084 SAR million by the end of this quarter. Benefiting from this boom, Tamear is in the process of implementing the new company strategy, which has been designed to instruct the company for the next three years. It will be implemented via a staggered approach informed by the ongoing changes caused by the global crisis.
For business enquiries, contact Mohammed Al Mymuni from Tamear – Saudi Real Estate Construction Company on their website – www.tamear.com.sa