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Dubai / Emirates Business
Forbes Middle East held an event to recognize the prolonged success of the region’s real estate sector.
The event for the first time ranked the Arab world’s Top 100 real estate companies and consultants and celebrated business leaders and the vision of top enterprises and their contribution to the economic development of the Arab world.
Khuloud Al Omian, Editor in Chief at Forbes Middle East, said,†The real estate market in the region is undergoing a transformation. The market is now witnessing a shift from high-end luxury buyers to the middle-class segment of affordable consumers. With the turmoil witnessed in the GCC, the UAE’s real estate market still is robust and has proven adaptive to change.â€
From the listed companies, UAE construction giant Emaar Properties came out on top with both the largest asset base of $21.7 billion, as well as the highest amount of revenue at $3.7 billion. Emaar tied with DAMAC Properties for profit earnings of $1.2 billion. And Jabal Omar Development Co. came out on top for highest market value at $14.1 billion.
The Arab world’s leading real estate companies have shaped our landscapes and built our world-famous skylines. The sector has continued to achieve revenues worth billions by diversifying and providing thousands of luxury and affordable properties to house the increasing populations and rapidly rising visitor numbers.
With upcoming global events, the real estate sector is expected to remain one of the key factors in the region’s economic development and the sector will continue to be amongst the fastest growing in the world.
Methodology
The top public real estate companies were determined using information from the respective companies’ annual reports and their base country’s stock market website. Position in the ranking was derived using the following metrics: Market Value; Assets; Profits; and Revenues.
The top private real estate companies were determined using information from questionnaires provided to the respective companies, as well as the companies’ websites and research reports provided by real estate consultants. Position in the ranking was derived using the following metrics: estimated revenue; number of employees; and date of establishment.
