ALIJARAH HOLDING

What ALIJARAH HOLDING does

Alijarah Holding Company Q.P.S.C. (Qatar Stock Exchange ticker: NLCS, formerly Al-Ijarah / National Leasing Holding) is a Doha-based public shareholding company incorporated on 21 April 2003 under resolution No. 35 of the Qatari Ministry of Economy and Trade. It operates as a diversified holding company with three principal operating subsidiaries: Alijarah Property, a 100%-owned subsidiary executing commercial, residential, and industrial real estate development in Qatar (and recently logistics warehouses in Wadi Aba Saleel); Alijarah Driving Academy (ADA), a 100%-owned subsidiary providing driver training and road safety education; and Alijarah Al Mubtakrah, a 100%-owned subsidiary established in 2024 to pursue real estate development and investment in Saudi Arabia, including a QR 55 million residential project in Jeddah. Additional wholly-owned subsidiaries (Alijarah Leasing, Alijarah Equipment, Alijarah Limousine, Al-Mumaiaz Limousine Services) provide equipment and vehicle leasing services. The company is led by CEO Hamad Hasan Al Jamali and operates under a Sharia Supervisory Board and QFMA-compliant governance framework, with its corporate term extended by EGM in February 2026 to August 2053.

The company generates revenue through three streams: real estate investment and development (one-time transactions including the QR 130M Al-Aziziyah property sale and QR 55M Jeddah project), recurring leasing and limousine services through its subsidiary network, and professional driving academy fees. Geographic footprint is concentrated in Qatar with a recently launched expansion into Saudi Arabia through Alijarah Al Mubtakrah. Marketing and distribution are conducted via a direct subsidiary model supplemented by a multi-channel investor relations program (corporate website, LinkedIn, Facebook, Instagram, X, YouTube, email subscription, quarterly investor conference calls, and Qatar Stock Exchange disclosures). No proprietary technology stack is disclosed, and the business operates without any stated AI/ML, API, or digital platform capabilities.

Financially, FY2025 net profit reached QR 21,503,830 (~26% YoY growth from QR 17,118,619 in FY2024), with EPS of QR 0.043 and an approved 4% cash dividend for 2025 (up from 3.5% in 2024). Market capitalization stands at QR 338,939,370 with a 4.40% dividend yield. Profitability has trended upward through FY2025 reporting periods (QR 11.0M H1, QR 16.4M 9M, QR 21.5M FY), though Q1 2026 net profit of QR 5.20M was only marginally above Q1 2025's QR 5.15M, suggesting deceleration. The company's strategic posture is anchored on geographic diversification into Saudi Arabia, portfolio expansion into logistics real estate, and a long-dated (to 2053) corporate term supporting continued capital deployment.

Name

ALIJARAH HOLDING

Legal name

Alijarah Holding Company Q.P.S.C.

Website

https://alijarah.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

Alijarah Holding is a Doha-based public Qatari holding company (QSE: NLCS) operating through wholly-owned subsidiaries in real estate development (Alijarah Property, Alijarah Al Mubtakrah), driver training (Alijarah Driving Academy), and equipment/vehicle leasing, serving investors, students, and businesses across Qatar and Saudi Arabia.

Ownership category

akta.pro rank

Product category

Real Estate Investment and Leasing Services

NAICS

Offices of Other Holding Companies (551112)

SIC

Non-Operating Establishments (9995)

akta.pro primary industry

Islamic SME & Commercial Banking (FSABAGAB)

Keywords

• Real estate investment
• Property development
• Leasing services
• Driving education
• Holding company

Headquarters

HQ city

Doha

HQ country

Qatar

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Real Estate Investment and Development: Through Alijarah Property (100% subsidiary), the company specializes in commercial, residential, and industrial real estate projects in Qatar, offering investment opportunities in high-quality real estate. Additionally, through Alijarah Al Mubtakrah (subsidiary in Saudi Arabia established in 2024), the company focuses on real estate development and investment opportunities in the Kingdom of Saudi Arabia, including residential projects.
2. Leasing Services: Financial leasing services for equipment and assets, operating through multiple subsidiary entities including Alijarah Leasing, Alijarah Equipment, Alijarah Limousine, and Al-Mumaiaz Limousine Services.
3. Driving Academy Services: Through Alijarah Driving Academy (100% subsidiary), provides comprehensive training and road safety education for both beginner and experienced drivers.

Distribution channels1 record

Marketing channels9 records

Core offering

Alijarah Holding is a Qatari public shareholding company that operates as a diversified holding entity, providing commercial, residential, and industrial real estate development and investment opportunities in Qatar and Saudi Arabia through its wholly-owned subsidiaries Alijarah Property and Alijarah Al Mubtakrah. The company also delivers financial and equipment leasing, limousine services, and comprehensive driver training and road safety education through Alijarah Driving Academy and other wholly-owned leasing subsidiaries.

Product overview

Alijarah Holding Company Q.P.S.C. is a public shareholding company incorporated in Qatar (established 2003) that operates as a diversified financial services and real estate investment holding company. The company provides a diverse range of financial instruments to local and foreign clients in Qatar. The core portfolio consists of three main subsidiaries: Alijarah Property (100% owned) handling commercial, residential, and industrial real estate development in Qatar; Alijarah Al Mubtakrah (established 2024) pursuing real estate development and investment in Saudi Arabia; and Alijarah Driving Academy (100% owned) providing driving training and road safety education services. The company also manages leasing operations through its commercial registration entities and is listed on the Qatar Stock Exchange under the symbol NLCS.

Differentiator

Problem solved

Functional benefit

Products and services

• Alijarah Property

Quantifiable outcome

• Net profit increased from QR 17.1 million (2024) to QR 21.5 million (2025), representing approximately 26% year-over-year growth
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Imperial Trading Contracting Company (ITCC)minorImplementation/ SI/ Consulting Partner · 17 June 2015Construction and development partnership for building the Taxi Complex, driving school and warehouse at the Industrial Area. Alijarah Holding signed a construction and development contract with ITCC for this project.

Scale indicators12 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Ezdan Holding Group: Qatari holding company with diversified real estate, investment, and services operations. Directly comparable to Alijarah as a Qatar-listed holding company with real estate focus and subsidiary-driven structure.
• United Development Company (UDC): Qatari real estate developer behind The Pearl-Qatar and other master-planned communities. Comparable for its Qatar Stock Exchange listing and real estate development business model targeting residential and commercial properties.
• Aamal Company: Qatari diversified holding company listed on Qatar Stock Exchange with operations across real estate, services, and industrial sectors. Comparable as a Qatar-listed holding company with diversified subsidiary structure similar to Alijarah.
• Barwa Real Estate Company: Major Qatari real estate developer listed on Qatar Stock Exchange. Comparable as a Qatar-focused real estate development and investment company targeting residential, commercial, and industrial segments.

Broad incumbents

• Al Rajhi Banking and Investment Corporation: Largest Islamic bank in Saudi Arabia with real estate financing and investment arms. Comparable for Sharia-compliant financial services including Ijara-based leasing and real estate investment, with similar GCC Islamic finance positioning.
• Qatar Islamic Bank (QIB): Largest Islamic bank in Qatar offering Sharia-compliant banking, financing, and real estate services. Comparable as a Qatar-listed Sharia-compliant financial services provider with real estate exposure, though operating at much larger scale across full banking services.
• Al Salam Bank - Bahrain: Bahrain-listed Islamic bank offering Sharia-compliant banking, financing, and real estate services. Comparable for Ijara-based leasing products and Sharia-compliant investment positioning serving GCC markets.

Regional players

• Emaar Properties: UAE-listed real estate developer with extensive GCC and international operations. Comparable for residential and commercial real estate development targeting Gulf investor base, though operating at significantly larger scale.
• Aldar Properties: Major Abu Dhabi-listed real estate developer with diversified residential, commercial, and investment property portfolio. Comparable as a Gulf-listed real estate holding company serving similar investor and end-user segments.
• Dar Al Arkan Real Estate Development: Leading Saudi-listed real estate developer focused on residential, commercial, and mixed-use projects. Directly comparable as it operates in Saudi Arabia where Alijarah is expanding through its Alijarah Al Mubtakrah subsidiary.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/ijarah_official
• YouTubeyoutube.com/channel/UCJ0loCJ5jIwcGwHk2uaIYOw
• Facebookfacebook.com/profile.php?id=61561337995974
• LinkedInlinkedin.com/company/alijarah-holding-q-s-c-
• Instagraminstagram.com/alijarah_holding

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ALIJARAH HOLDING