Emaar tops Forbes ME lists of 100 realty firms

Dubai - The Arab world's leading real estate companies have shaped the region's landscapes

Emaar Properties has been listed as the top public real estate company by Forbes Middle East, at an event which celebrated 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.
From the listed companies, the 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, while Jabal Omar Development Co came out on top for highest market value at $14.1 billion.
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."
Aldar Properties, Barwa, and Ezdan Holding followed behind Emaar and Damac Properties on Forbes ME's list of top 10 public real estate companies, placing third, fourth and fifth respectively. Forbes ME's list of the top five private real estate companies included Qatari Diar placing in first, followed by Dubai Properties, Wasl Asset Management Group, Nakheel, and Arenco Real Estate placing next on the list in that order. The top five international real estate consultants were found to be JLL coming in first position, followed by CBRE, Cluttons, Knight Frank, and Chestertons placing in that order. The top five real estate consultants were listed as Tamleek Real Estate Company placing first, followed by Better Homes, Edwards and Towers Real Estate Brokers, Allsopp and Allsopp, and Harbor Real Estate.
The Arab world's leading real estate companies have shaped the region's landscapes and built several world-famous skylines over the years. 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.
 - rohma@khaleejtimes.com