Architects of Tomorrow: Rethinking Succession in MENA Family Enterprises

As we look toward the future of family enterprises in the MENA region, one thing is clear: the voices of the next-generation are essential to navigating the complexities of the 21st century. This report can be used to open a wider dialogue across generations and challenges the conventional view that the next generation’s contribution is defined primarily by inheriting leadership positions. Instead, it examines how younger family members are creating value through different pathways, reflecting the evolving needs of family enterprises and the ambitions of those who will shape their future.

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Collaboration

This report extends the strategic partnership between the Tharawat Family Business Forum and LGT (Middle East) Ltd. 
It builds on the success of the Wealth and Legacy: The Rise of Single Family Offices in the MENA publication.

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Insights from the Report

This report explores how a changing world, shaped by a new generation’s skills, expectations and outlook, is challenging traditional succession models and redefining leadership. Drawing on in-depth interviews with next-generation family business members and insights from senior leaders, it offers complementary perspectives on the evolving nature of succession. It also introduces the Tharawat Next-Generation Contribution Framework to encourage reflection and foster meaningful dialogue among family members.

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Next-Generation Profiles

Five conversations with rising family business leaders across the UAE, Oman, Jordan and Egypt reveal diverse perspectives on what it means to be the next generation of a family enterprise. Whether building their own ventures, stepping into established businesses or taking on greater responsibility for ownership, wealth and governance, they share a common journey: finding their own path while navigating an established family legacy and its expectations.

Leadership Insights

For next-generation contributions to be meaningful and impactful, family enterprise leaders play a vital role in championing dialogue and establishing clear governance frameworks. Complementing the next-generation perspectives in this report, two senior leaders share their insights on legacy, responsibility and the importance of fostering a more collaborative and entrepreneurial journey.

The Next-Generation Contribution Framework

The Tharawat Next-Generation Contribution Framework explores the different roles next-generation members can take on in their professional lives, helping young family members and leaders reflect on how they can contribute to the family enterprise and its legacy in ways that create value for the individual, the family and the business.

Outlook and Action Points

The report concludes with practical recommendations for both next-generation members and family enterprise leaders, highlighting the importance of personal development, open dialogue and evolving governance. These action points encourage a more dynamic, contribution-led approach to succession, balancing individual aspirations with the long-term needs of the family enterprise.

Insights from Contributors

Read extracts from articles and interviews with our authors and contributors. 

It is important to give the next generation the freedom to develop their own capabilities and experiences while keeping the door open for future involvement.
H.S.H. Prince Hubertus von und zu Liechtenstein
H.S.H. Prince Hubertus von und zu LiechtensteinMember of the Foundation Board of LGT Group
Hands-on experiences, mentorship, and direct interactions remain vital for their development and for fostering a strong connection to the family’s legacy.
H.E. Essa Abdulla Al Ghurair
H.E. Essa Abdulla Al GhurairChairman of Essa Al Ghurair Investment
The next generation is challenging us to rethink what meaningful participation in a family enterprise looks like. Succession is no longer simply about identifying who will take over, but recognizing the different ways family members can create value.
Farida El Agamy
Farida El AgamyGeneral Manager, Tharawat Family Business Forum
Wealth is too often reduced to material value or profit. But real wealth creates impact, builds community, and offers you an opportunity to contribute to society.
Faisal Kawar
Faisal KawarCo-Founder FENA & MENADevs; Board Member, Kawar Group
I believe it’s critically important that older generations learn how to trust the next generation, while mentoring them and giving them access to the tools to succeed and grow.
Omar Sallam
Omar SallamVice President & Business Development, Tank
Being a family member does not mean you will or should be entrusted with responsibility from day one. I believe that, to earn that trust, you need to be prepared to fail and learn from it.
Maryam Almulla
Maryam AlmullaInvestment Committee Member and Board Member, Almulla Capital
Preserving family wealth across generations requires more than a successful one-off transfer of assets or leadership. It requires preparing the next generation to make informed decisions, understanding the responsibilities of ownership and contributing meaningfully to the family's long-term objectives.
Sebastian Goeres
Sebastian GoeresChief Executive Officer, LGT (Middle East) Ltd.
My experience in the family business and, later, in building my own business have been mutually beneficial. What I have learned in one has continuously informed and strengthened the other.
Abeer Sultan
Abeer SultanExecutive Manager, MD’s Office, W.J. Towell Group; Founder, Horsera Equestrian Club
Often, the two generations do not fully understand one another’s expectations. That is why transparent conversations and a shared mindset are so important.
Yousuf Al Yousuf
Yousuf Al YousufChief Operating Officer, Al Yousuf Group
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