Bashar Masri is a Palestinian entrepreneur and successful businessman, he is the founder and Chairman of the Board of Massar International, since its establishment in 1994. He is the founder and visionary behind the high-tech "Rawabi City", Palestine's first planned city, he is also the founder and currently the managing director of Bayti Real Estate Investment Company that built the city. He founded and manages the first Palestinian equity fund, a 90 million investment initiative known as "Siraj Fund". He's on the list of the "Top Ten Richest People of Palestine in 2016" with net worth estimated at 1.5 Billion Dollars. Masri serves as Chairman of the Board of Directors of the Palestine Development and Investment Company. Like Massar, PADICO’s mission is to contribute significantly to the strengthening and expansion of the Palestinian national economy. Since its founding in 1993, PADICO has made large-scale investments in vital industrial sectors including real estate, telecommunications, tourism, industry, agriculture, environment, energy and financial services, employing thousands of Palestinians.
Masri worked in a number of countries, including the Kingdom of Saudi Arabia, the United States and the United Kingdom, before he decided to return to Palestine and settle there in the mid-1994. He has a strong background in management consulting and industrial management. On a regional level, Masri has spearheaded large and economically significant investment projects, including affordable housing communities in Morocco, commercial and residential developments in Jordan, and a residential real estate project in Egypt. Massar Company under Masri's management currently has multiple businesses in Morocco, Jordan, Egypt and Serbia.
Business in Palestine
Al-Ayyam Newspaper
After Masri came back from Washington DC to Palestine in Mid-1990s to establish himself in his home country, he started by founding Palestinians daily newspaper "Al-Ayyam Newspaper " and was its publisher. Al Ayyam is today the second largest newspaper in Palestine.
Massar International Ltd
In 1994, Masri founded and now is the Chairman of the board of Massar International, since the establishment of Massar, he has been one of the most prominent figures promoting private sector development and growth in Palestine.He has dedicated his life to establishing, investing, transforming, networking, training and building what is now a widely known group of businesses bridging Palestine to global technologies, knowledge, know-how and industry best practices. In the past decade, he has launched businesses in financial services, real estate, media and communications, retail businesses, agribusiness and information technology. According to Massar International's website, these companies are either owned by Massar International or Massar International has invested in them:
Not only was Masri the visionary and founder of Rawabi City, he also oversees the construction and development of the city. Rawabi City is a high-tech planned city, the first of its kind in Palestine, and it was funded fully by the private sector, Rawabi is considered the largest private sector investment is Palestine's history, the construction of the city so far has cost 1.4 billion dollars. Rawabi is being constructed by Bayti Real Estate Investment Company that is jointly owned by Qatari Diar Real Estate Investment Company and Massar International. With its more than 6,000 housing units built to serve families from multiple demographics, state-of-the-art infrastructure, and an emerging commercial hub, the city has already made a positive economic and social impact on Palestinians and it is constructed to provide housing for 25,000 person in its first stage and 40,000 people when it is done. Not only does the city provide affordable housing options it is also the second biggest generator of jobs, after the Palestinian Government, providing between 8,000 and 10,000 job opportunity a year for construction workers, in addition to thousands of job opportunities, whether in Massar International companies that moved there, or in the different shops and entertainment facilities the city provides. Masri aims for the City of Rawabi to be the Silicon Valley and the Tech Hub for the State of Palestine, in tireless attempts to provide spaces for promising technology and technology related startups at the city, and businesses from inside and outside of Palestine to the city.
Siraj Fund Management Company
Masri founded and manages the first Palestinian equity fund, a 90 million investment initiative known as "Siraj Fund" in 2003, and the company's first fun "Siraj Palestine Fund I" was launched in February 2011, the company was founded for the sole purpose of managing investment funds in Palestine. The company focuses on promising startups and capital investments in small and medium sized enterprises in the sectors of information and communication technology services, energy, agriculture, clean technology, healthcare, logistics, education, manufacturing, transportation, construction and financial services. Siraj's investments in these companies range between $250,000 and $12 million, and plans on expanding in the MENA region in the future.
Personal life
Masri is the father of two daughters: Tamara Masri and Dina Masri.
