The story
Founded by Saleh Abdullah Kamel in 1969.1
The company began in 1969 as a courier service with the name Dallah Establishment by Saleh Abdullah Kamal in Riyadh. By 1979 was one of the largest contractors for the Saudi government. DBHC was formed as a holding company in 1984 when Dallah Establishment expanded its activities to include financial and banking services, health care, manufacturing, real estate and tourism, trading, agriculture, operations and maintenance and transportation. As DBHC continued to grow, major subsidiaries were established to manage the investments in key sectors which includes an international network of banks, in addition to investment and insurance vehicles; and general business, which range from hospital operations to cleaning and maintenance to food manufacture and restaurants. Today, DBHC is one of the largest conglomerates in the region, with diversified investments totaling billions of dollars spanning 40 countries.
In 1969, DBHC expanded its investments to create Dallah Works and Maintenance Company in Riyadh. That company, benefiting from contracts with the Saudi government, including the cleaning and maintenance of the Mecca and Medina holy sites, provided the financial launch for increasingly diverse investments. In the mid-1970s, Dallah expanded its investments to include Dallah Avco Trans Arabia Company, which specialized in airport construction, operation, and maintenance. Dallah Avco Arabia attained a large number of airport and related operations in Saudi, such as the 1988 contract to maintain and run the Saudi’s air traffic control system.
In 2012 DBHC, the Islamic Development Bank, and the Qatari government signed a memorandum of understanding to establish an Islamic Bank with $1 billion in capital. The huge Islamic Bank shall provide “liquidity-management solutions in an effort to create an Islamic inter-bank market,” said Ahmad Mohamed Ali Al-Madani, chairman of Jeddah-based IDB. The Doha-based bank had a subscribed capital of $500 million and finances infrastructure projects.
From Wikipedia’s article on Dallah Al-Baraka, shared under CC BY-SA 4.0.3