Donald Trump, eat your heart out.

While less well-known than the brash American developer’s company, Qatari Diar has quietly grown in just its first two years to become one of the biggest real estate companies in the world, with properties from London to Cuba.

The value of its portfolio? Nearly $40 billion.

Leading this new real estate powerhouse is Nasser Hassan Al-Ansari, who, at 40, is representative of a new generation of Persian Gulf business leaders. Educated in the United States and Europe, they have greater financial sophistication and more-global ambitions than their predecessors.

“We’re engaged in institution building in a country that is engaged in nation building,” Al-Ansari says. “I count myself fortunate to be able to witness the transformation of my society within just one generation.”

Qatari Diar was launched in 2005 with a capitalization of more than $1 billion to be the real estate investment arm of the oil- and natural-gas-rich Persian Gulf emirate. It is now building resorts in Morocco, Syria, Egypt, Oman, Sudan, Seychelles, Mauretania, and Mauritius, and even developing tourism properties in Cuba, as well as projects on its home soil.

Earlier this year, Qatari Diar, along with British luxury-property design firm Candy & Candy, bought the Chelsea Barracks, a 13-acre complex in West London, from the British Ministry of Defense for a reported $2 billion. The developers are planning to build nearly 2,000 homes and office buildings on the site.

“I want to build a global machine,” Al-Ansari says. “I want Qatari Diar to be the Rolls-Royce of real estate development. A worldwide brand—this is what I want us to become. But we’re only 20 percent there.”

At home, Qatari Diar is building a $2 billion, 26-mile bridge—one of the longest in the world—that will link Qatar with Bahrain. A more ambitious project is the $7 billion Lusail Development, which involves creating a sister city to Doha, Qatar’s capital. According to the chairman of Qatari Diar, Sheik Hamad bin Jassim al-Thani—who is also the country’s prime minister, foreign minister, and an influential member of the ruling family—Lusail will be home to 200,000 people. That would double Doha’s current population and would most likely raise Qatar’s overall population to nearly a million (80 percent of whom are foreign workers, including both unskilled laborers and executives). The project will contain an entertainment area modeled after Piccadilly Circus in London, with theaters, museums, and brand-name shops.