Development Holding

What Development Holding does

Development Holding Co. (DH) is a Kuwait-based private investment holding company founded in 2010 by Talal Al Ajmi. The company acquires and nurtures small to medium-sized enterprises, aiming to transform them into industry leaders across a stated 10-sector mandate: Health, Entertainment, Real Estate, Transportation, Energy, Technology, Finance, AI, Retail, and Crypto. DH is headquartered in Mishref, Kuwait City, and operates across Kuwait and the broader Middle East including the UAE.

DH's operating portfolio comprises 10 wholly-owned brands: VI Markets (an Axi-introducer forex/CFD trading platform with patented Copy Trading technology and MT4 integration via the One Connect app); Canteen (a Kuwaiti convenience retail chain); 20 Grams and Serve (Kuwaiti coffee/F&B brands); TFK, a luxury fragrance house acquired in June 2024 from founder Sheikh Majed Al-Sabah; Edion Kuwait (Italian-inspired perfumes); Wave (a data analytics and BI platform); Masader (culinary partnerships); Crew (mobile technician services); and The Economic (a business/economics media outlet). The group generates revenue through a mix of trading transaction fees (VI Markets), retail/F&B sales, and growth-driven appreciation of portfolio company valuations.

DH's business model is founder-led and private, with no disclosed institutional investors or public revenue figures. The go-to-market combines direct consumer distribution (Canteen physical stores, 20 Grams branches across the Middle East, digital marketplaces), an online self-serve trading platform (VI Markets), a brokerage introducer arrangement with Axi, and brand-building via community outreach, sponsorships (KidZania, equestrian sports, Manchester City events with City Football Group), and PR/earned media including Forbes Middle East features. Customer segments are highly diversified: retail and institutional traders, SME founders, and mass-market consumer end-users across the Middle East.

Name

Development Holding

Legal name

Development Holding Co.

Website

https://dhc.com.kw

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Development Holding Co. is a Kuwait-based private investment holding company that acquires and nurtures small to medium-sized enterprises across 10 sectors via a 10-brand portfolio spanning trading, retail, F&B, fragrance, analytics, and services across Kuwait and the Middle East.

Ownership category

akta.pro rank

Product category

Investment Holding Company

NAICS

Offices of Other Holding Companies (551112), Corporate, Subsidiary, and Regional Managing Offices (551114)

SIC

Non-Operating Establishments (9995), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro industry

PRIMARYFSANALAE

HoldCo / Permanent Capital ETA

Financial & Insurance/Private Equity & Venture Capital/Search Funds / Entrepreneurship Through Acquisition (ETA)

SECONDARYFSAAADAH

Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest)

Financial & Insurance/Asset & Wealth Management/Family Offices (Single- & Multi-Family)

Keywords

• Investment holding company
• SME acquisitions and development
• Online forex trading
• Convenience retail chain
• Luxury fragrance brand

Headquarters

HQ city

Kuwait City

HQ country

Kuwait

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment Acquisitions & Portfolio Growth: DH acquires and fosters the growth of small to medium-sized enterprises, propelling them into industry leaders. The company generates returns through strategic equity stakes, profit-sharing arrangements, and appreciation of portfolio company valuations.
2. VI Markets Trading Services: VI Markets generates revenue through trading services including forex and CFD trading on shares, indices, and cryptocurrencies, operating 24/5 as an introducer representative of Axi (One Financial Markets).

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Development Holding is a Kuwait-based private investment holding company that acquires and nurtures small to medium-sized enterprises, transforming them into industry leaders. Its portfolio of 10 wholly-owned brands spans trading services (VI Markets), convenience retail (Canteen), coffee and sweets (20 Grams, Serve), luxury fragrances (TFK, Edion Kuwait), data analytics (Wave), culinary partnerships (Masader), mobile technician services (Crew), and business analysis media (The Economic). The holding company deploys capital, strategic guidance, operational support, and AI-driven analytics to grow its portfolio companies across 10 sectors in the Middle East.

Product overview

Development Holding (DH) is a Kuwait-based strategic investment holding company that acquires and develops small to medium-sized enterprises. The company operates a diversified portfolio across multiple sectors including technology (VI Markets trading platform, Wave data analytics), retail (Canteen convenience stores), food & beverage (20 Grams coffee, Serve coffee), fragrance (TFK luxury perfumes, Edion Kuwait), and services (Masader culinary partnerships, Crew mobile technicians). VI Markets serves as DH's primary technology platform, offering online forex and CFD trading services. The company leverages AI and data analytics for investment decision-making through its Wave analytics platform.

Differentiator

Problem solved

Functional benefit

Brands

• VI Markets: A Kuwait-based trading company offering 24/5 forex and CFD trading on shares, indices, and crypto.
• Canteen
• TFK
• 20 Grams
• Wave
• Edion Kuwait
• Masader
• Crew
• The Economic
• Serve

Products and services

• VI Markets Kuwait-based online trading platform offering 24/5 forex and CFD trading on shares, indices, and crypto. Operates as an introducer representative of Axi (formerly One Financial Markets) and provides patented Copy Trading technology along with the One Connect app integrated with MT4 for retail and institutional traders.
• Canteen One of the largest convenience retail chains in Kuwait, providing one-stop-shop convenience for everyday consumer needs.
• 20 Grams Kuwaiti coffee brand providing high-quality local coffee, sweets, and daily-use supplies with branches throughout the Middle East and availability on local platforms such as V Thru and Coffee.
• TFK (The Fragrance Kitchen) Luxury fragrance house founded in Kuwait in 2012 by Sheikh Majed Al-Sabah, inspired by childhood scents such as oud and Taif rose, blending memory, elegance, and international influence into distinctive personal perfumes.
• Wave Data analytics and business intelligence platform that helps businesses make data-driven decisions using insights and visualizations, turning data into actionable intelligence to enhance efficiency and drive growth across various industries.
• Edion Kuwait Italian-inspired luxury perfume brand combining the materials, scents, and colors of Tuscany to create unique olfactory experiences, with products carefully handcrafted as a tribute to Italian art and creativity.
• Masader Culinary partnership platform enabling businesses to offer exceptional food experiences through innovative, reliable, and seamless culinary partnerships.
• Crew Mobile technician service in Kuwait that brings certified mobile technicians directly to customers' homes or workplaces, providing dealership-level service without the wait.
• Economic Business analysis media platform providing trusted analysis on global business, economics, and leadership shaping today's world.
• Serve Coffee brand offering thoughtfully crafted coffee products that combine quality, consistency, and convenience in every cup.

Quantifiable outcome

• DH is committed to acquiring and fostering the growth of small to medium-sized enterprises, propelling them into the echelons of industry leaders.
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature1 record

Partnerships

Five partnerships are on record, tiered minor and core.

• Axi / City Football GroupminorGTM or Marketing Partner · 10 January 2024VI Markets and Axi co-hosted a Manchester City Event in Abu Dhabi featuring Q&A sessions with John Stones and a City Football Group presentation by CEO Ferran Soriano, providing a unique client experience and reinforcing the VI Markets-Axi partnership.
• Young Athletes (Ahmed Albsairy, Lindzi & Ali, Sara Khuraibet)minorOthers · 1 January 2024VI Markets actively supports emerging athletes in their pursuit of world championships, including sponsorship of equestrian competitions and athlete development programs, contributing to community welfare and youth empowerment.
• Sheikh Majed Al-Sabah (TFK Founder)coreStrategic or Co-development Partner · 1 January 2024DH acquired The Fragrance Kitchen (TFK) from Sheikh Majed Al-Sabah, the Kuwaiti founder who established the luxury fragrance brand in 2012. This acquisition represents a strategic investment in DH's portfolio expansion, adding a renowned luxury brand with international recognition.
• KidZania KuwaitminorGTM or Marketing Partner · 1 January 2023VI Markets partnered with KidZania Kuwait to establish the VI Markets Financial Trading Hub, introducing children to the world of trading and investment through role-playing experiences. This initiative reflects VI Markets' commitment to financial education and community outreach.
• Axi (One Financial Markets)coreChannel Partner/ Reseller/ Distributor · 1 January 2010VI Markets operates as an introducer representative of Axi (One Financial Markets), a globally recognized online broker. This partnership enables VI Markets to offer forex and CFD trading services on shares, indices, commodities, energies, bonds, futures, and cryptocurrencies to clients in Kuwait and the broader Middle East. The partnership also includes the One Connect app integrated with MT4 platform.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• FXTM (Forextime): Globally regulated forex and CFD broker with active Middle East operations, offering copy trading and MT4/MT5 platform access. Direct competitor to VI Markets in retail online trading for the same regional client base.
• Pepperstone: Global forex and CFD broker offering trading on shares, indices, commodities, and crypto with a Middle East regional presence. Direct competitor to VI Markets in the same retail/institutional online trading category.
• KIPCO (Kuwait Projects Company Holding): One of the largest diversified holding companies in Kuwait with interests across financial services, media, real estate, and consumer. KIPCO is a directly comparable HoldCo archetype operating in the same Kuwaiti market as DH, though at significantly larger scale.
• IC Markets: Global CFD and forex broker integrated with MT4/MT5 platforms, serving retail and institutional traders. Comparable to VI Markets in product offering (forex/CFD on shares, indices, crypto) and platform technology.
• XM Group: Global online forex and CFD broker with strong presence in the Middle East, offering MT4-based trading on shares, indices, commodities, and crypto. Direct regional competitor to VI Markets.
• eToro: Global social trading platform best known for its CopyTrader feature that allows users to automatically replicate top traders' portfolios. The most direct functional peer to VI Markets' patented Copy Trading offering, though operating at significantly larger global scale.
• Alimtiaz Investment Group: Kuwait-based diversified investment holding company with stakes in real estate, energy, healthcare, and financial services. Directly comparable to DH as a Middle East HoldCo deploying capital across multiple operating sectors.

Regional players

• Kuwait Financial Centre (Markaz): Kuwait-based investment management and advisory firm focused on asset management, investment banking, and direct investments. Comparable as a Kuwait-headquartered investment platform, but operates primarily in financial investments rather than operating company acquisitions.
• National Industries Group (Kuwait): Large Kuwait-based diversified holding company with stakes in petrochemicals, logistics, healthcare, and consumer businesses. Comparable as a Kuwait HoldCo operating across multiple sectors, though with significantly greater scale.

Broad incumbents

• Axi (One Financial Markets): Globally licensed online broker serving as VI Markets' introducer partner. Comparable as the underlying brokerage platform powering VI Markets' offering, but operates as a broad incumbent rather than a specialized regional introducer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/developmentholding

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries10 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 Development Holding