BEIRUT: Distinguished Palestinian business leader, philanthropist and billionaire Said Khoury died Thursday at the age of 91 in his adopted hometown of Athens.
Khoury, who came to Lebanon in the 1940s, co-founded the Consolidated Contractors Company (CCC), which is now one of the largest contracting companies in the Middle East, and helped support hospitals, schools and universities.
Former Prime Minister Saad Hariri described him as an icon of “success, persistence, professionalism and goodwill.”
“One of the great friends of martyr Rafik Hariri has passed away, a figure who left a mark on the world of business and contracting by demonstrating nobility and morals,” Hariri said.
The former prime minister said Khoury’s death marked the end of a lifetime full of achievements, and that he had been of “true value to the Arab economy and [was] an example to be followed by thousands who knew him, accompanied him or learned from him.”
Born in northern Palestine in 1923, Khoury fled to Lebanon with his family in the wake of the Nakba in 1948. He went to the American University of Beirut from 1940-42 and again from 1943-44.
In 1952, Khoury, his cousin the late Hasib Sabbagh and the late Kamel Abdul-Rahman founded the CCC, a company that is now among the top 25 international contractors. It operates in 40 countries with over 130,000 employees and has an annual revenue of $5 billion.
Khoury, who is listed as a billionaire by Forbes, was also ranked as the 10th richest Arab in the world by Arabian Business in 2013.
A committed philanthropist, Khoury was also a tireless champion of the Palestinian cause.
He was deputy chairman and member of the board of trustees of the Welfare Association in Geneva, which works to support Palestinians suffering under the occupation. He founded the Bethlehem Development Foundation, and has assisted other Palestinian organizations. In 2013, he received the Palestinian Diaspora Award from The Holy Land Christian Ecumenical Foundation.
“Said Khoury cherished Palestine deeply,” Hariri said. “He struggled with determination to defend the dignity of its people and their right to freedom, life and progress.”
Hariri offered his condolences to Khoury’s family, saying that Beirut would honor his memory.
Khoury also had strong ties with AUB from his years studying there.
He helped rebuild AUB’s College Hall and contributed a state-of-the-art building for scientific research to the university. AUB granted him an honorary doctorate in 2006 and he received a Medal of Merit from the AUB Alumni Association in 2001.
In 2004 Khoury was awarded the Legion of Merit. He also received an Honorary Shield from the Annual Congress for Investment and Capital Arab Group for his exemplary treatment of employees.
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