Bashar Masri

Bashar Masri (/Arabic: بشار مصري‎/ February 4, 1961) is a Palestinian entrepreneur and successful businessman, he is the founder and Chairman of the Board of Massar International, since its establishment in 1994. He is the founder and visionary behind the high-tech "Rawabi City", Palestine's first planned city, he is also the founder and currently the managing director of Bayti Real Estate Investment Company that built the city.[1] He founded and manages the first Palestinian equity fund, a 90 million investment initiative known as "Siraj Fund".[2] He's on the list of the "Top Ten Richest People of Palestine in 2016" with net worth estimated at 1.5 Billion Dollars.[3]

Bashar Masri with U.S. Trade and Development Agency Director Leocadia I. Zak and an architect at the Rawabi site.

Masri serves as Chairman of the Board of Directors of the Palestine Development and Investment Company (PADICO).[4] Like Massar, PADICO’s mission is to contribute significantly to the strengthening and expansion of the Palestinian national economy. Since its founding in 1993, PADICO has made large-scale investments in vital industrial sectors including real estate, telecommunications, tourism, industry, agriculture, environment, energy and financial services, employing thousands of Palestinians.

Early life

Masri was born and raised in Nablus, Palestine.[5][6] After leaving Nablus, Masri continued his education in Egypt, before moving to the United States, where he graduated from Virginia Tech with a B.S. in Chemical Engineering in 1983.[7][8]

Career

Masri worked in a number of countries, including the Kingdom of Saudi Arabia, the United States and the United Kingdom, before he decided to return to Palestine and settle there in the mid-1994. He has a strong background in management consulting and industrial management.[9]

On a regional level, Masri has spearheaded large and economically significant investment projects, including affordable housing communities in Morocco, commercial and residential developments in Jordan, and a residential real estate project in Egypt. Massar Company under Masri's management currently has multiple businesses in Morocco, Jordan, Egypt and Serbia.[10]

Business in Palestine

Al-Ayyam Newspaper

After Masri came back from Washington DC to Palestine in Mid-1990s to establish himself in his home country, he started by founding Palestinians daily newspaper "Al-Ayyam Newspaper (/Arabic: جريدة الأيام/)" and was its publisher. Al Ayyam is today the second largest newspaper in Palestine.[11]

Massar International Ltd

In 1994, Masri founded and now is the Chairman of the board of Massar International,[12] since the establishment of Massar, he has been one of the most prominent figures promoting private sector development and growth in Palestine.He has dedicated his life to establishing, investing, transforming, networking, training and building what is now a widely known group of businesses bridging Palestine to global technologies, knowledge, know-how and industry best practices. In the past decade, he has launched businesses in financial services, real estate, media and communications, retail businesses, agribusiness and information technology.[13]

According to Massar International's website, these companies are either owned by Massar International or Massar International has invested in them:

The Real Estate sector
  1. Bayti Real Estate Investment Company - Palestine
  2. Bayti Investment - Morocco
  3. Tamleek for Investment and Real Estate Development - Jordan

Financial Services
  1. Siraj Fund Management - Palestine
  2. The National Bank (TNB) - Palestine
  3. Palestine Mortgage and Housing Corporate (PMHS) - Palestine
  4. The Palestinian Company for Rental and Leasing (Pallease) - Palestine
  5. Al-Tadamon Al-Arabi Brokerage (TA-Invest) - Egypt
  6. Energo Broker a.d. Beograd - Serbia

Information Technology Sector
  1. ASAL Technologies - Palestine
  2. Call u Communication - Palestine
  3. WebTeb - Palestine
  4. Bader ICT Incubator - Palestine

Media and Communication
  1. Al-Ayyam Printing, Press, Publication & Distribution - Palestine

Agriculture
  1. Harvest Export - Palestine
  2. Nakheel Palestine for Agriculture Investment - Palestine

Other Sectors
  1. Massar Consulting and Technical Services - Palestine
  2. Alpha International for Research, Polling and Informatics - Palestine
  3. Travel Masters - Jordan
  4. Decorx for Wood Industrial - Palestine
  5. Palestinian Logistics and Distribution Services (Wassel) - Palestine
  6. PalGaz for Gas Distribution and Services - Palestine
  7. The Palestinian Company for Hospitality Services - Palestine

Rawabi City & Bayti Real Estate

Not only was Masri the visionary and founder of Rawabi City, he also oversees the construction and development of the city. Rawabi City is a high-tech planned city, the first of its kind in Palestine, and it was funded fully by the private sector, Rawabi is considered the largest private sector investment is Palestine's history, the construction of the city so far has cost 1.4 billion dollars. Rawabi is being constructed by Bayti Real Estate Investment Company that is jointly owned by Qatari Diar Real Estate Investment Company and Massar International.[14] With its more than 6,000 housing units built to serve families from multiple demographics, state-of-the-art infrastructure, and an emerging commercial hub, the city has already made a positive economic and social impact on Palestinians and it is constructed to provide housing for 25,000 person in its first stage and 40,000 people when it is done.[15][16] Not only does the city provide affordable housing options it is also the second biggest generator of jobs, after the Palestinian Government, providing between 8,000 and 10,000 job opportunity a year for construction workers,[17] in addition to thousands of job opportunities, whether in Massar International companies that moved there, or in the different shops and entertainment facilities the city provides.

Masri aims for the City of Rawabi to be the Silicon Valley and the Tech Hub for the State of Palestine,[18] in tireless attempts to provide spaces for promising technology and technology related startups at the city, and businesses from inside and outside of Palestine to the city.

Siraj Fund Management Company

Masri founded and manages the first Palestinian equity fund, a 90 million investment initiative known as "Siraj Fund" in 2003, and the company's first fun "Siraj Palestine Fund I" was launched in February 2011,[19] the company was founded for the sole purpose of managing investment funds in Palestine. The company focuses on promising startups and capital investments in small and medium sized enterprises in the sectors of information and communication technology services, energy, agriculture, clean technology, healthcare, logistics, education, manufacturing, transportation, construction and financial services. Siraj's investments in these companies range between $250,000 and $12 million, and plans on expanding in the MENA region in the future.[20][21]

Personal life

Masri is the father of two daughters: Tamara Masri and Dina Masri.[22]

Awards and Positions

Masri is the former Palestinian Chapter Chairman of the Young Presidents' Organization (YPO).[23] He was named as a "Global Leader of Tomorrow" by the World Economic Forum.[24] Masri serves on the Board of Trustees of An-Najah National University.[25] Masri is a member of the Deans’ Council of the John F. Kennedy School of Government at Harvard University.[26]

Fortune Magazine ranked Masri #38 on its list of "The World's 50 Greatest Leaders".[27]

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References
  1. "Executive Profile: Bashar Masri".
  2. "Siraj Fund raises $60m for Palestinian high tech".
  3. "Top Ten Richest People of Palestine In 2016".
  4. "BOARD MEMBER AND A REPRESENTATIVE OF MASSAR INTERNATIONAL INVESTMENT GROUP".
  5. Palestinian-American Entrepreneur Re-Envisions West Bank Development
  6. "West Bank: Palestinians' first planned city will offer modern space". The Christian Science Monitor. 4 November 2009. Retrieved 10 December 2009.
  7. "The first (planned) Palestinian city". The Jerusalem Post. 30 November 2009. Retrieved 10 December 2009.
  8. "BUILDING IN THE WEST BANK: An Interview with Bashar Masri".
  9. "Executive Profile: Bashar Masri".
  10. "Siraj Fund raises $60m for Palestinian high tech".
  11. "Peace dividends".
  12. "Chairman letter". 17 February 2018.
  13. "Company Overview of Massar International".
  14. "About Bayti".
  15. "PRESS RELEASE".
  16. "Video: Rawabi city opens biggest shopping center in Palestine".
  17. "One Man's Dream City Rises In The Occupied West Bank".
  18. "With all his chips in, Palestinian businessman aims to build 'Silicon Rawabi'".
  19. "Company Overview of Siraj Fund Management Company".
  20. "Company Overview of Siraj Palestine Fund I".
  21. "Siraj Fund raises $60m for Palestinian high tech".
  22. "BUILDING IN THE WEST BANK: An Interview with Bashar Masri".
  23. "Bashar Fayeq Masri: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 2018-02-21.
  24. African intelligence 17/2/2011
  25. "Board of trustees".
  26. "Dean's Council".
  27. "The World's 50 Greatest Leaders". Fortune. April 19, 2018. Retrieved 2018-05-03.
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