{"id":44310,"date":"2025-03-04T12:14:58","date_gmt":"2025-03-04T09:14:58","guid":{"rendered":"https:\/\/thesauditimes.net\/en\/?p=44310"},"modified":"2025-03-20T08:37:16","modified_gmt":"2025-03-20T05:37:16","slug":"wafic-said-the-man-behind-the-al-yamamah-deal","status":"publish","type":"post","link":"https:\/\/thesauditimes.net\/en\/wafic-said-the-man-behind-the-al-yamamah-deal\/","title":{"rendered":"Wafic Sa\u00efd the Man Behind the Al-Yamamah Deal"},"content":{"rendered":"

Wafic Sa\u00efd<\/a> is a Syrian-born businessman who later obtained Saudi citizenship through a royal decree, a rare occurrence.<\/p>\n

Born on December 21, 1939, in Damascus, Syria.<\/p>\n

His father, Reza Sa\u00efd, was a renowned physician and surgeon, serving as:<\/p>\n

Mayor of Damascus in 1920.<\/p>\n

Minister of Education in 1925, where he launched the Syrian Baccalaureate Certificate.<\/p>\n

One of the key founders of the University of Damascus, integrating various faculties, including medical colleges.<\/p>\n

Due to the 1963 military coup and political instability in Syria, Wafic fled the country.<\/p>\n

Moved to Geneva, where he worked in business deals, banking investments, and even managed a restaurant in Kensington, London.<\/p>\n

In 2005, he received an Honorary Doctorate from the University of Damascus in recognition of his philanthropic contributions in Europe and the Middle East.<\/p>\n

 <\/p>\n

\"Wafic
Wafic Sa\u00efd the Man Behind the Al-Yamamah Deal<\/figcaption><\/figure>\n

 <\/p>\n

Career & Business Success<\/strong><\/h3>\n

Gained international prominence due to his pivotal role in the Al-Yamamah arms deal, one of the largest arms agreements between the UK and Saudi Arabia.<\/p>\n

Became known as \u201cThe Man of Al-Yamamah\u201d due to the impact of the deal.<\/p>\n

Founded the Sa\u00efd Foundation, a charitable organization dedicated to educational development, youth training, and supporting disadvantaged children, particularly those with disabilities.<\/p>\n

Banking & Construction Ventures<\/p>\n

Started his career in investment banking in Geneva before making his fortune in Saudi Arabia\u2019s construction sector.<\/p>\n

Obtained Saudi citizenship through a royal decree, a rare honor.<\/p>\n

Moved to Saudi Arabia in the early 1970s, assisted by a family friend who was a royal physician.<\/p>\n

Established a small contracting company, overseeing government building projects.<\/p>\n

Gained the trust of Prince Sultan bin Abdulaziz (Minister of Defense), propelling him into the elite business circles of Saudi Arabia.<\/p>\n

By 1973, he had become one of the wealthiest figures in the Kingdom.<\/p>\n

Collaboration with Akram Ojjeh<\/p>\n

While working in construction, he partnered with Akram Ojjeh, a Syrian arms dealer based in London with strong Saudi connections.<\/p>\n

In 1982, he founded the Sa\u00efd Foundation in honor of his late son Karim, focusing on children\u2019s development programs in underprivileged regions.<\/p>\n

 <\/p>\n

\"Wafic
Wafic Sa\u00efd the Man Behind the Al-Yamamah Deal<\/figcaption><\/figure>\n

 <\/p>\n

The Al-Yamamah Deal (1985)<\/strong><\/h3>\n

Played a crucial role as a mediator between Saudi Arabia and the UK in one of the most significant arms deals in history.<\/p>\n

As the official agent for British Aerospace (BAE) in Saudi Arabia, Sa\u00efd facilitated negotiations.<\/p>\n

The deal, worth billions of dollars, benefited both countries immensely and made Sa\u00efd one of the wealthiest businessmen of his time.<\/p>\n

The UK dubbed it the “Deal of the Century.”<\/p>\n

 <\/p>\n

Philanthropy & Investments<\/strong><\/h3>\n

Donated \u00a323 million to Oxford University, leading to the establishment of the Sa\u00efd Business School, one of the world\u2019s top business institutions.<\/p>\n

In 1996, launched training programs for special needs children in Syria.<\/p>\n

Opened a branch of the Sa\u00efd Foundation in Syria in 2000, focused on disability support and training programs.<\/p>\n

Funded a $7 million renovation of a hall at Damascus University, which was later named “Reza Sa\u00efd Conference Center” in honor of his father.<\/p>\n

In 2014, the Sa\u00efd Foundation donated $1.8 million to support 100 Syrian refugee students in Lebanon and Jordan for university education.<\/p>\n

 <\/p>\n

\"Wafic
Wafic Sa\u00efd the Man Behind the Al-Yamamah Deal<\/figcaption><\/figure>\n

 <\/p>\n

Personal Life<\/strong><\/h3>\n

Married Rosemary Buchanan in the mid-1970s, the daughter of a bank manager he worked with.<\/p>\n

Their first son, Karim Reza Sa\u00efd, tragically passed away at a young age in Saudi Arabia.<\/p>\n

In 2012, his daughter Rasha had a lavish wedding at the Palace of Versailles in Paris.<\/p>\n

 <\/p>\n

Wealth & Legacy<\/strong><\/h3>\n

Ranked 26th among the richest Arabs, with an estimated net worth of $1.6 billion.<\/p>\n

Featured in the \u201cTop 100 Syrian Businessmen\u201d list by Al-Iqtisadi Magazine in 2009 and 2010<\/p>\n

 <\/p>\n

See More: Ahmed Hassan Fitaihi Owner of the World\u2019s Largest Diamond<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Wafic Sa\u00efd is a Syrian-born businessman who later obtained Saudi citizenship through a royal decree, a rare occurrence. Born on December 21, 1939, in Damascus, Syria. His father, Reza Sa\u00efd, was a renowned physician and surgeon, serving as: Mayor of Damascus in 1920. Minister of Education in 1925, where he launched the Syrian Baccalaureate Certificate. One of the key founders of the University of Damascus, integrating various faculties, including medical colleges. Due to the 1963 military coup and political instability in Syria, Wafic fled the country. Moved to Geneva, where he worked in business deals, banking investments, and even managed<\/p>\n","protected":false},"author":1,"featured_media":44314,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"Al-Yamamah deal","_yoast_wpseo_metadesc":"Discover Wafic Sa\u00efd\u2019s role in the Al-Yamamah deal, his influence in business, and his contributions to philanthropy & international 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