Forbes Middle East presents Top 500 Companies in the Arab World and Top 100 Making an Impact

15 May 2013
Under the patronage of H.E. Sheikh Nahayan Mabarak Al Nahayan, Minister for Culture, Youth & Community Development, UAE, Forbes Middle East hosted a prestigious event at Ritz Carton, Abu Dhabi on Tuesday, May 14, 2013 in recognition of The Top 500 Companies in the Arab World and The Top 100 Making an Impact.

The event, which included an exclusive award ceremony and gala dinner, was attended by senior government officials, top executives from various business sectors, and an array of other high profile guests. The event was also graced by the presence of Dr. Nasser Bin Aqeel Al Tayyar, the President of Arab Publisher House who welcomed H.E Sheikh Nahayan Mabarak Al Nahayan along with other dignitaries.

Delivering a keynote speech on the occasion was Sam Alkharrat, Managing Director of SAP Middle East and North Africa.  Sam stated, "A perfect storm of cutting-edge technology is transforming MENA's business landscape."

 "Everywhere you look, the cloud, mobile technology, social media and big data are inspiring profound change, empowering consumers, and increasing the reach and relevance of citizens like never before. Today, there are unprecedented opportunities for value-driven innovation, and business leaders must do everything they can to drive sustainable growth in what are clearly some of the world's most diverse, exciting and dynamic markets. SAP is proud to be among those investing with long-term ambition in MENA, and we believe that our combination of pioneering solutions and multifaceted support for local talent is already having a significant, positive impact across some of the region's most influential industries."

Dr. Mark Batey MSc PhD CPsychol AFBPsS, Joint Chair of the Psychometrics at Work Research Group at Manchester Business School and Associate Editor of the International Journal of Creativity and Problem Solvingwas also invited to address the audience on 'creativity in business'.

A number of the evening's awards were presented by Mr. Alkharrat and Dr. Batey in the presence of H.E Sheikh NahayanMabarak Al Nahayan and esteemed guests. Applause echoed as awardees from leading companies across the Arab world stepped up to be honored. 

From the Insurance sector, companies present included Orient Insurance from the UAE, Abu Dhabi National Takaful, and Al Khazna Insurance, all of which excelled in 2012, recording total assets last year of $753.1 million, $125.8 million, and $285.6 million, respectively.

Awardees from the Industrials sector included Saudi Arabian Mining Company, Ma'aden, which achieved $14.7 billion in assets in 2012, Jordan's Eqbal Invest, with revenues of $ 113.8 million and ALAFCO, aviation frontrunner from Kuwait with total assets of $2 billion.

Achievements of companies in the services sector were also acknowledged. Two companies from the UAE, National Marine Dredging and Abu Dhabi Aviation, both received awards for their performancesin 2012; the former raking in revenues of $846 million, and the latter, recording assets of $976.2 million.

In the real estate sector, while having recently merged, the UAE's Aldar and Sorouh Real Estateeachperformed strongly in itsown right last year, earning them both awards. Aldar led the way with assets of $ 8.7 billion, while Sorouh recorded total assets of $3.9 billion in 2012.Saudi Arabia's Dar Al Arkan with assets amounting to $5.9 billion, and the UAE's Drake& Scull International with assets of $1.8 billion,also received awards.

Leaders from the banking sector included the UAE's First Gulf Bank with total assets of $47.7 billion, and Emirates NBD, recording total assets of $83.9 billion in 2012. Abu Dhabi Commercial Bank, Union National Bank from the UAE, and Saudi Arabia's Alinma Bank were also awarded in light of their strong financial standing includingasset bases of $49.2 billion, $23.7 billionand $14.4 billion, respectively. Demonstrating the UAE's dominance in this sector, National Bank of Fujairah with total assets of $4.8 billion and United Arab Bank from UAE with assets of $4.1 billion also received awards.

From the Retail sector, Saudi Arabia's Jarir Marketing excelled, amassing revenues of $1.2 billion last year. As for the transportation sector, National Shipping Company (Bahri), also from the kingdom, performed strongly recording assets of $3 billion in 2012.

Saudi Arabia also shined in the food industry with Savola Group and Almarai both taking to the stage. The former generated revenues amounting to $7.3 billion last year, while the latter recorded assets of $5.2 billion. The pattern continued in the travel and tourism sector with the kingdom's Al Tayyar Travel Group awarded for its strong performance in 2012 which included revenues of $1.4 billion.

Saudi Arabia's winning streak went on in the energy, telecom and petrochemicals sectors, with the UAE also demonstrating its strength. In the energy sector, with assets of $63.6 billion in 2012, Saudi Electricity Company was awarded for its success, alongside TAQA from the UAE with assets of $ 33.3 billion. Meanwhile, telecoms stalwarts,Mobily from KSA and Etisalat from the UAE, were recognized for their achievements; the two companies recordingtotal assets of $10.3 billion, and $21.8 billion, respectively, in 2012.Rounding out the awards for the Top 500 Companies in the Arab World, was Saudi Arabia's petrochemicals powerhouse, SABIC which recorded total assets of $90.2 billion.

Amongst the Top 100 Making and Impact in the region, eminent companies present and honored on the prestigious occasion were Dr. Sulaiman Al-Habib Medical Group, a comprehensive healthcare services provider which counts amongst the largest in the MENA region; Abdul Samad Al Qurashi, one of the finest producers of Arabian perfumes ; and,Saudi Arabia's Ajlan& Brothers, a longstanding frontrunnerof the garment industry. Mohammed Abdulaziz Al Rajhi& Sons, one of Saudi Arabia's leading industrial groups; the UAE's Lulu Group International, a multi-billion dollar diversified entity spearheaded by an incredibly successful retail division; and,National Commercial Bank, one of the largest banks in the region today, also featured amongst the outstanding awardees.

Congratulating Forbes Middle East and the winners on their accomplishments, Director Middle East, Manchester Business School, Randa Bessiso added, "Manchester Business School Middle East congratulates Forbes ME on this outstanding initiative to recognise the achievements of the top companies in the Arab World and we are honoured to be supporting the awards event, in our role as 'preferred business school partner' to Forbes. These leading companies represent the engine of the regional economy and they are playing a fundamentally important role in helping the region to transform and reach its true potential. From our position as a leading global provider of business education, we can see that there are many genuinely world class companies in the region and by showcasing their achievements, Forbes will help inspire and encourage others to follow suit and to reach for this very high standard."

Forbes Middle East continues to work with valuable business partners who share a common objective of furthering the socio-economic progress of the Arab world, while ensuring it builds a reliable system of information and statistics for decision makers and investors. The awards evening was a inspirational gathering, stirring budding entrepreneurs to aspire to brilliance and well-established businesses to expand their horizons, collaborate with the best in the region, and win.  


Qatari companies top the banking, industrials, insurance, transport and retail sectors.
Banks increased assets to avoid financial crisis, reaching $1.502 trillion.
The real estate sector is back on track, achieving total revenues of $19.2 billion and net profits of $3.2.billion.
Total assets of the top 500 companies stand at$2.21 trillion.
Total assets of listed Saudi companies amount to $703 billion.

Forbes Middle East presents The Top 500 Companies in the Arab World. Follow­ing an in-depth study into companies listed on stock exchanges across the region, the Forbes Middle East team has formu­lated a ranking of the leading publicly-listed en­terprises.

Companies from 10 countries made it onto our final list, achieving combined total revenues of $342.6 billion, net profits of $61.8 billion, and total assets of $2.215 trillion.

In terms of number of entries, Saudi Arabia came out on top with 123 companies featuring on the list. Combined, they amassed a total market value of $353.3 billion, $27 billion in net profits, and total assets of $703 billion.

Saudi Arabia's SABIC clinched the number one spot with net profits of $6.6 billion and $90.2 billion in total assets. Saudi Telecom ranked in second place.

Runner up where volume of entries is concerned was the UAE with 87 com­panies including familiar names such as First Gulf Bank and Etisalat (which ranked third overall). Total net profits for Emirati entries reached $12 bil­lion while total assets stood at $550 billion--$416 billion of which came from the banking sector.

Jordan followed in third place in terms of number of entries on the ranking, followed by Oman, Kuwait, Qatar, Egypt, Bahrain, Lebanon, and Iraq, respectively.

This year's top 10 comprises an eclectic mix of sectors. Banks led the way with four compa­nies, while communications, petrochemicals, en­ergy and industrials also featured highly. Saudi Arabia recorded four top 10 entries, followed by Qatar with three, and the UAE with two. NBK also guaranteed Kuwait's place amongst the re­gion's best, ranking ninth.

On a sector basis, the top 500 were presided over by industrial companies, occupying 21% of the list, led by Industries Qatar. Banking, headed by QNB, ranked second, accounting for 18%, followed by insurance in third with Qatar Insurance topping the list. In the energy realm, the title went to Saudi Electricity, while SABIC dominated the petrochem­icals sector. Meanwhile, Kuwait's KIPCO spear­headed the Arab world's financial services offerings. As for food industries, KSA's Savola Group came out on top, while the kingdom's Al Tayyar Travel Group was the shining star of hotels and tourism. The region's healthcare sector was dominated by YIACO Medical in Kuwait.

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© Press Release 2013


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