Emaar, Damac top real estate firms in Arab world

Dubai - With an asset base of $21.7 billion, as well as the highest amount of revenue at $3.7 billion, Emaar towered above the remaining nine companies in the list.

Dubai-based companies Emaar and Damac are among the leading listed real estate entities in the Arab world, Forbes Middle East announced late on Wednesday night.

With an asset base of $21.7 billion, as well as the highest amount of revenue at $3.7 billion, Emaar towered above the remaining nine companies in the list.

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.

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."

Top 10 public real estate companies

1. Emaar Properties
2. DAMAC Properties
3. Aldar Properties
4. Barwa
5. Ezdan Holding
6. Jabal Omar Development Co.
7. United Development Company
8. Talaat Moustafa Group Holding
9. Dar Alarkan Real Estate Development Company
10. Douja Promotion Addoha Group

Top 5 private real estate companies

1. Qatari Diar
2. Dubai Properties
3. Wasl Asset Management Group (Wasl Properties)
4. Nakheel
5. Arenco Real Estate