The Corp

Who We Are

Established in the mid-1950s as a major trading company supplying equipment to Kuwait’s growing oil industry, BoodaiCorp today manages a portfolio of direct investments with an aggregate turnover of more than $970 million and employs more than 6,400 people.

Our portfolio companies operate in various fields, including trading, media, public transport, commercial aviation, aviation services, logistics, engineering, and construction. BoodaiCorp has successfully created some of Kuwait’s most recognized brands, including:

"Today, BoodaiCorp proudly
serves a combined
customer base of over
15 million customers"

 

Our Milestones

Boodai Trading Company was established in Kuwait
1950's
1960's
Boodai Trading Company expanded in other GCC countries
Atlas Trading Company was established
1962
1979
Hilal Cement Company was established
Jassim Transportation & Stevedoring was established
Boodai Construction Company (BCC) was established. In 2021 BCC changed its name to Gulf Projects Company (GPC)
1980
1984
BoodaiCorp entered the travel industry through Boodai Aviation. In 2019, Boodai Aviation changed its name to Q’go
Gulf Engineering Company (GEC) was established
BoodaiCorp entered the media sector through the acquisition of Alrai Al-Amm Newspaper
1996
2002
City Group Company was acquired and CITYBUS operations started
Alrai Media Group was established and Alrai Newspaper was issued
2003
2004
Jazeera Airways Company was established as the first privately owned airline in the ME
Alrai TV was established as the first private sector free-to-air TV in Kuwait
51% of Hilal Cement Company was sold to Suez Cement Company
2007
2008
60% of Jassim Transport & Stevedoring was sold to Global Investment House
Sahaab Aircraft Leasing Company was established and acquired by Jazeera in 2010
2009
2012
Gulf Projects Company for Electricity and Cooling was established. Acquiring Gulf Engineering Company 2016 and Gulf Projects Company in 2018
Jazeera Airways sells its fleet in a $507M transaction
2014
2019
Partial sale of Jassim Transport & Stevedoring to Qurain Petrochemical Industries
Full sale of Jassim Transport & Stevedoring to in a Pre-IPO Private Placement
2021
2021
Acquisition of 51% in Hilal Cement Company from Suez Cement Company
Jazeera Airways increased its capital by KD2mn at a premium raising a total of KD10mn.
2021
2023
City Group acquired door2door’s on-demand transport mobile solution and launched Citylink shuttle service in Kuwait
Established Retal for Land and Real Estate Development and Management Co. in Kuwait
2025
2026
Increase ownership in Jazeera Airways to 72% through a voluntary acquisition offer in Boursa Kuwait

Our Principles

Investing in Partnerships


We believe in building strong relationships with the people we work with, from the management teams of the different businesses that fall under the BoodaiCorp umbrella to the business and investment partners we engage with for these ventures. Our commitment to building and sustaining these relationships has always proven to be rewarding for our partners and for us.

Growth Through Value Creation


Value creation is the essence of our business. It is both our mantra and our differentiator. We strive to create unique opportunities for our shareholders, partners, and the communities in which we invest, whether by breaking into sectors with high entry barriers, such as government-run sectors, or by creating new opportunities from the ground up.

Our Reputation is Our Capital


Embedded in our cultural DNA is the recognition that our reputation is our capital. We have safeguarded and built our reputation day by day since our humble beginnings nearly a century ago. Today, BoodaiCorp is a reputable business partner in the Middle East, with a track record of facilitating long-term, high-performing investment ventures. We maintain this focus as the guiding principle behind our daily business efforts.

Our Focus

Value Creation

Creating and delivering value to shareholders, partners, and customers has been the primary objective of our investment strategy since 1995. Over the last 18 years, our focus has been on breaking into sectors with high entry barriers, including oligopolies and government privatization initiatives, to create value-generating opportunities for both investors and end customers that otherwise would not have been available.

Our strategy requires focus, persistence, and strong relationships with reliable and committed partners. We continue to pursue this strategy today.

"We conduct our business with a strong commitment to creating partnerships, building a solid reputation, and continuously creating value. These are three of our most highly valued principles for conducting business."

Corporate Governance

Built on Trust, Transparency and Accountability

BoodaiCorp adheres to the highest standards of corporate governance to foster an environment of trust, transparency, and accountability required to achieve its strategic goals. BoodaiCorp’s corporate governance hinges on the following pillars:

BoodaiCorp’s corporate governance hinges on the following pillars:


Committees

Proactive and engaged committees covering the areas of risk and audit, nomination and remuneration, among others.

Policies & Procedures

Well defined and detailed manuals covering the operational and functional areas of the business.

Delegation of Authority

Clearly defined approval authorities, along with their respective limits, as mandated by the Board.

GOVERNANCE FRAMEWORK

Three pillars of trust


Governance Diagram