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- A.E.-based companies represent just over a third (34%) of the “Top 50 Real Estate Developers In MENA 2021” list with 17 entries, followed by Saudi Arabia with 11 and Egypt with seven.
- The U.A.E.’s Emaar Properties tops the real estate list with assets worth $34 billion as of September.
- The U.A.E. also dominates the “Top 10 Construction Companies In MENA 2021” list with five entries, followed by Saudi Arabia with three and Egypt with two.
- Egypt’s Orascom Construction tops the construction list, with major projects such as the Grand Egyptian Museum under development.
Dubai : Forbes Middle East has unveiled its “Top 50 Real Estate Developers In MENA 2021” list, featuring companies that have delivered some of the most significant projects in the region this year. The list was constructed based on financials, reputation, company’s age, the value of projects completed, projects under construction, and the size of the landbank and units held by the company. Developers whose projects are not yet functional have been excluded, as the list only looks at developers who have delivered their projects.
Emaar Properties in the U.A.E. tops the list, with total assets of $34 billion as of the end of September 2021. Emaar Properties is one of the largest publicly-listed real estate companies by assets in the GCC. Abu Dhabi-based Aldar Properties placed second, with $11.3 billion total assets as of September 2021. An Aldar-ADQ consortium acquired 85.5% of SODIC in a deal valued at $388 million in December 2021. Egyptian mixed-use developer SODIC made it onto the list at 36th place.
The developers featured on this list represent nine countries in the region. The U.A.E. leads with 17 companies on the list, four of which are in the top five. 11 are headquartered in Saudi Arabia, followed by seven in Egypt, six in Kuwait, three in Qatar, two each in Oman, and Morocco, and one each in Bahrain and Jordan.
To recognize the region’s most successful construction companies, Forbes Middle East has also unveiled a ranking of the “Top 10 Construction Companies In MENA 2021.” These companies were chosen based on the value of the projects completed and under construction, the number of employees, and the company’s age.
Egypt’s Orascom Construction leads the list, thanks to a host of upcoming projects in the country, including the Grand Egyptian Museum, the Monorail, and the Greater Cairo Metro. Of the 10 companies, half are based in the U.A.E. with diverse projects, including Yas Island, the Sheikh Zayed Grand Mosque, and Expo 2020.
Top 50 Real Estate Developers In MENA 2021: Country Breakdown
Top 5 Real Estate Developers In MENA 2021
1 | Emaar Properties
Group CEO: Amit Jain
Country: U.A.E.
Established: 1997
2 | Aldar Properties
Group CEO: Talal Al Dhiyebi
Country: U.A.E.
Established: 2005
3 | wasl Asset Management Group
CEO: Hesham Al Qassim
Country: U.A.E.
Established: 2008
4 | Qatari Diar
CEO: Abdullah bin Hamad Al Attiyah
Country: Qatar
Established: 2005
5 | Nakheel
CEO: Naaman Atallah
Country: U.A.E.
Established: 2001
Top 5 Construction Companies In MENA 2021
1 | Orascom Construction
CEO: Osama Bishai
Country: Egypt
Established: 1950
2 | Nesma & Partners Contracting
President and CEO: Samer Abdul Samad
Country: Saudi Arabia
Established: 1981
3 | Al Bawani Company
CEO: Fakher Al-Shawaf
Country: Saudi Arabia
Established: 1991
4 | ALEC Engineering and Contracting (ALEC)
CEO: Kez Taylor
Country: U.A.E.
Established: 1999
5 | Arabian Construction Company (ACC)
CEO: Maher Merehbi
Country: U.A.E.
Established: 1967
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About Forbes Middle East
Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East’s most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online.
Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.
Media Contact
Juweyria Hersi,
Hersi@forbesmiddleeast.com
© Press Release 2021
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