Family firms are the backbone of the Gulf Region’s economy, generating an estimated 80% of non-oil GDP. Almost

three quarters of the Region’s family businesses are currently owned and managed by the second generation.

So, it is estimated that a staggering $1 trillion in assets will be handed over to the third generation of the Region’s

family businesses over the next five to ten years... [the five case studies are WJ Towell, Oman; SABIS, Lebanon; Zamil Group, KSA; Abdullatif Alissa Group Holding Company, KSA; Majid Al Futtaim, UAE]...Each of the five profiled family businesses in this research project has a unique history, shaped by families of diverse structure and vision, the industry and country they operate in. In our discussions with the leaders and senior management of the five businesses, we, the authors of this report, gained insight into a great variety of organizational and governance structures, of inspiring solutions and innovative systems. Ranging from multi-industry conglomerates to businesses with very focused and specialised operations the businesses we studied involved family members from the 1st to the 6th generation with between 20 and 150 family members. Despite the differences, we did find many similarities in the challenges the families faced. One of the main concerns we found across all cases was the continuity of the business, fair involvement of family members from all generations and the translation of the family culture into a long-term corporate vision.