|23 January, 2020

Meet the winners: Saudi Aramco and UAE's ADNOC are region's most valuable brands

Aramco is now the world's most valuable listed company, comfortably ahead of Apple and Microsoft

Participants attend the official ceremony marking the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019.

Participants attend the official ceremony marking the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019.

REUTERS/Ahmed Yosri

Saudi Aramco is the most valuable brand in the Middle East and Africa, followed by Abu Dhabi National Oil Company (ADNOC), a latest report by Brand Finance revealed.

Aramco, with a brand value of $46.8 billion, is placed twenty-fourth globally and is the most valuable brand among the 44 new entrants to the Brand Finance Global 500 ranking.

The IPO has proven to be successful for Saudi Aramco, raising $25.6 billion, and making it the largest ever to date, the report said.

It is now the world’s most valuable listed company, comfortably ahead of Apple and Microsoft, Brand Finance said, adding, Aramco must now focus on developing international perceptions of the brand in order to open it up further for partnerships and investment.

ADNOC, at a brand value of $11.39 billion, is the first UAE brand to achieve a brand valuation of more than $10 billion and is the Middle East’s fastest growing brand, Brand Finance said.

ADNOC continues to look for new and innovative ways to maximize the value of its resources, pioneering those approaches and technologies that will ensure it is able to meet the demands of an ever-changing energy market, and continue to have a positive impact on the Abu Dhabi economy for generations to come, the report added.

Emirati telecom giant, Etisalat, at a brand value of $8.5 billion, is the third most valuable brand in the Middle East and Africa and was named most valuable consumer brand in the region for the third consecutive year.

The brand’s growing role in fulfilling the UAE’s National Innovation Strategy and its dominant influence in shaping the region’s digital future are behind its continued success, the report said.

Brand Finance added that the company is the premier digital and telecommunications partner of the upcoming Expo2020 in Dubai and that all eyes will be on Etisalat as it prepares to excite the Expo’s expected 25 million visitors with a seamless 5G connectivity.

“The Middle East, and in particular the Gulf region, is home to more and more world class brands, as we have observed these powerhouses making their way up our rankings since Brand Finance undertook its first Global 500 study back in 2007,” David Haigh, CEO of Brand Finance said.

Amazon, the world’s most valuable brand for the third year in a row, became the first company in the history of Brand Finance Global 500 ranking to exceed the $200 billion brand value mark.

(Writing by Gerard Aoun; editing by Seban Scaria)

(gerard.aoun@refinitiv.com)

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© ZAWYA 2020

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