The role of a Chief Executive Officer (CEO) holds immense importance in any organization, as it entails significant leadership responsibilities. CEOs bear the crucial task of making strategic decisions, overseeing the overall operations of the company, and propelling its growth and triumph. While the position of a CEO offers fulfilling experiences, it also presents a multitude of challenges and obligations. Khalid Fagih, the CEO of Red Sea International Company, is one exemplary individual who embodies these responsibilities.
Khalid Fagih from Saudi Arabia, is a highly skilled professional with extensive expertise in the field of Financial Services. With a rich background spanning decades, Khalid has amassed valuable experience in Banking, Risk Management, Investment Banking, Project Finance, and International Business Development. Throughout his career, he has successfully executed numerous projects, leading transformation programs, engaging in multinational negotiations, and driving skill development initiatives. Khalid actively participates in the business community, holding memberships in the Chamber of Commerce, as well as multiple innovation forums and sustainability initiatives.
With a strong passion for innovation, disruption, and, above all, environmental concerns, Khalid considers himself a staunch advocate for constructing a better, safer future through intelligent practices that prioritize the needs of tomorrow. In terms of education, Khalid holds a degree in Statistics & Computer Science and has received training from prestigious institutions such as Harvard Business School, INSEAD, Stanford Business School, and London Business School. Additionally, during his financial services career, he has also taken on the role of training young aspiring bankers many times at the esteemed SAMA Institute of Banking in Saudi Arabia.
Accepting New Challenges
Transitioning from a lifelong career in banking to a new industry at RSI has been the most significant decision in Khalid’s professional life. This switch entailed navigating a completely different landscape in terms of nature, processes, applications, operations, business development, and market risk. Undoubtedly, it posed a significant challenge, one that continues to be an ongoing journey. However, it is precisely this challenge that adds to the intrigue and fuels Khalid’s determination and commitment.
In today’s fast-paced business world, the notion of planning for the “next five years” has become outdated. Technologies, market dynamics, delivery speed, collaborations, partnerships, and ever-evolving technological advancements constantly present new opportunities and shorten the path to success. Each day brings forth opportunities for growth, performance, and achievement. The choice of how to navigate and seize these opportunities lies in one’s hands.
About RED SEA INTERNATIONAL
In a rapidly evolving world characterized by development, change, challenges, and opportunities, businesses and organizations must embrace continuous learning, evolve with maturity, and adopt a clear vision for the future, accompanied by a practical roadmap. Success in the future will be achieved by offering solutions that are comprehensive, effective, and simple. It is crucial for businesses to envision and build processes that are streamlined, efficient, and environmentally conscious, utilizing renewable ideas and elements.
As a Saudi Arabian business entity, this is an opportune time for growth and development, with numerous opportunities presented to existing and innovative ideas. Khalid recognizes Saudi Arabia as a nation under visionary leadership, transforming its landscape and global position through the historic blueprint of “Vision 2030.” This ambitious transformation plan provides an expansive platform for growth, particularly for those who are intuitive and adaptive. Therefore, any strategy adopted must be focused on readiness to capitalize on the vast landscape of opportunities offered by Vision 2030. RSI, as a company, is positioning itself with determination to seek out ideas for growth within this vast canvas. However, this requires a strong sense of readiness, capability, and commitment.
Just as individuals evolve and strengthen over time through learning and assimilation, companies and corporations also undergo a similar process. RSI is no exception to this reality. Over the past two years, the company has reimagined its business nature and repositioned itself to address the opportunities that are ahead. RSI has embraced a broader vision, offering a wider range of solutions to its international customer base. It is still a long road ahead but with the right focus on re-organization and re-prioritization based on the fast eveolving market scenario, it will be imperative to make the right decisions assessing risks and planning principles.
RSI, a Saudi Arabian company with a global presence spanning several decades, has built a reputable brand by designing, planning, producing, managing, and operating housing solutions and facilities management services across 65 countries. In today’s global business landscape, the ability to provide multi-faceted solutions is critical. This outlook expands the market universe and provides a larger platform for customer growth. In addition to the traditional oil and gas markets, RSI is diversifying its product portfolio into new sectors such as health, hospitality, education, and residential, where there is a growing demand for its solutions.
RSI is now investing in the real estate spectrum to support and collaborate with successful ventures in real estate investment, a rapidly developing field of hospitality projects, and various entities across the commercial sector. This expanded positioning offers strong growth potential and consolidates RSI’s capabilities to provide multiple solutions under its established brand. Additionally, diversifying revenue streams through increased rental and leasing options will be an area of opportunity and growth as RSI moves away from a manufacturing-focused business model. Facilities management is also a critically important segment, and RSI aims to grow its presence and become a regional and international leader in this field. The company’s innovative solutions are reflected in its diverse product portfolio and successful track record across industry sectors, firmly establishing its reputation as a successful player in the field of imaginative engineering. Most recently under Khalid’s leadership RSI also announced the acquisition of 51% of the share capital of The Fundamental Installation for Electric Work Company Ltd – better known as ‘First Fix’ and valued at Saudi Riyals 1.06 billion. This acquisition strengthens the framework of RSI which synergizes with First Fix as an internal group entity that will further augment the speed of project delivery and quality excellence
Conscious Leadership
In Khalid’s pursuit of personal growth and leadership development, he identifies with the concept of a “conscious leader.” While many individuals strive for performance, success, leadership, and personal identity, Khalid emphasizes the significance of building and leading a team. For him, the happiness and well-being of the team members hold great importance. Khalid is particularly dedicated to the development of youth throughout the Kingdom, aiming to inspire them to broaden their horizons and adopt a global perspective. His aspiration is to galvanize the youth by encouraging them to strive for better, safer practices that focus on tomorrow’s needs.
Khalid perceives leadership as a multifaceted quality that requires authenticity, understanding, support, inspiration, and collaboration. He recognizes the importance of these qualities and their impact on individuals and teams. Khalid believes that effective leadership should never be underestimated, as it plays a pivotal role in creating a positive and empowering environment for growth and success.
Commitment to Sustainability and Quality
According to Khalid, RSI’s core focus lies in creating better living environments by constructing vibrant and multi-use communities in high-performing settings. This approach aims to positively impact people’s lives while also contributing to sustainability objectives. The RSI team possesses a wealth of experience accumulated over 40 years, and the company’s success has been built upon its unwavering commitment to delivering high-quality products and personalized service. RSI’s global vision revolves around creating meaningful impact and scalability for the greater good through the principles of Giving, Earning, and Sustaining.
What sets RSI apart is its dedication to integrity, quality products, and service. Moreover, the company’s technology and practices are designed to support and facilitate “Net Zero” and “Circular Economy” initiatives. By adopting responsible business practices, RSI aims to make a significant difference in promoting sustainability and environmental responsibility.
Navigating the Path to Leadership
Khalid firmly believes that companies should not simply earn money; they must also innovate and take risks to truly claim leadership in their respective industries. In his view, as the CEO, he holds the ultimate decision-making authority and is responsible for setting the company’s vision. To be an effective CEO, Khalid understands the importance of leading by example and guiding the workforce like the captain of a ship. His aim is to educate and develop the minds of the younger generation who will become the leaders of tomorrow.
When formulating a business outlook, Khalid considers various factors, including the mandates and expectations from the board, investors, employees, and other stakeholders. He also takes into account the company’s strengths, purpose, and understanding of what creates value. Furthermore, Khalid stays attuned to the opportunities and trends in the marketplace while aligning with his personal aspirations and values. By reframing the perspective, he recognizes that his company competes not just within its industry but also for talent, capital, and influence on a broader stage. This mindset shift allows for a collective sense of ownership within the team and brings clarity to the overall intent, with key performance measures like organizational health taking on new significance.
Investing in People
Khalid strongly believes that every decision made by a CEO should involve an investment. This includes investing in initiatives, allocating time, and, most importantly, investing in people.
According to Khalid, investing in people is the most valuable use of financial resources. As a responsible CEO, he recognizes the importance of nurturing a management team that is happy, motivated, determined, and capable of working cohesively. Khalid understands that a united team working towards a shared vision is more likely to achieve exceptional performance. In order to achieve this, he emphasizes the need to evaluate and optimize team composition, considering factors such as size, diversity, and capability. This may involve making difficult decisions, such as parting ways with underperforming individuals or promoting those with high potential, even if they may be challenging to work with.
Khalid stresses the significance of maintaining a balanced approach in individual relationships, striking a balance between objectivity and building trust and loyalty. Additionally, he emphasizes the need to continuously assess and improve the team’s operating rhythm, meeting protocols, interaction quality, and dynamics to ensure maximum productivity. When hiring new team members, Khalid focuses on finding individuals who fit well within the existing team and contribute to its overall success.
Significance of Innovation and Sustainability
According to Khalid, the construction industry has undergone significant changes in the past decade, with two crucial factors for success being “Innovation” and “Sustainability.” Sustainability is a constant responsibility at both the individual and corporate levels, while innovation offers numerous possibilities. Innovation can be achieved through strategic positioning and realignment of existing processes and ideas to cater to multiple needs simultaneously, such as platform-based ideas. Additionally, innovation can also stem from thinking outside the box and can emerge from seemingly simple ideas.
The combination of innovation and sustainability has the potential to uncover new market opportunities and even give rise to entirely new industries. When considering innovation from a technological standpoint within the construction industry, Khalid highlights five main areas that have emerged and become imperative for companies to embrace.
- Construction Software and Full Integration – One of the elements that have made construction software so indispensable has to do with the fact that it allows for the real-time exchange of information between the various project agents. This means a significant decrease of budget miscalculations and task delays.
- Augmented and Virtual Reality – AR and VR can truly take the construction processes to the next level. Thanks to this technology, construction managers can now have a detailed overview of the whole project and plan ahead. The price of this modern equipment is currently cost-prohibitive, but the technology for this type of work is already in existence today.
- Next Generation Tools – We have to keep in mind that emerging technology takes the form of software and hardware. There are always going to be better and more powerful tools. But the next generation of tools are different. These devices and robots come with their own software, and eventually machine learning.
- New Workforce Type – Construction has a unique opportunity to attract skillful and educated young professionals. The advent of new technologies in combination with the extensive use of software has started transforming construction to a promising career field. There is a younger generation that’s more comfortable with technology coming along and when this generation gets into leadership roles in the top construction companies, there will be an expedited shift towards futuristic solutions.
- Green Construction – The ultimate goal, in this case, is the establishment of sustainable building as the prevailing construction procedure. Green construction can have some great benefits not only for our industry but for our environment and everyday lives. It can help in reducing energy waste, increasing productivity and establishing higher living and aesthetic standards.
Vision for RSI’s Global Success
From Khalid’s personal standpoint, he envisions RSI as a globally esteemed corporation, highly regarded for its qualities of Quality, Integrity, Innovation, Reliability, Imagination, and Service. By embodying these attributes, RSI can attain an unbeatable position in the market, which is exactly where Khalid aspires the company to be. To achieve this, Khalid emphasizes the importance of fostering innovation and imagination within the team to complement RSI’s core capabilities. This approach is essential for expanding RSI’s footprint and maintaining its leadership position within the industry.
Written by Steve Sanchez.
