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UAE firm tops Forbes 'growth champions" list

Damac Properties, a UAE based company, beat 1,999 other global enterprises to reach the number one position in the list of "Top Growth Champions" in Forbes Global 2000 list.
The luxury real estate developer has a market capitalisation of $4.7 billion as of May 2017. It is placed at number 635 in the Global 2000 list in terms of profit and at number 482 in Best Employer category.
No Arab company made it on to Forbes Global 2000 list of Best Employers, Top Regarded Companies, or Top 250 Multinational Performers. However, apart from Damac, a few did make it on to the Top Growth Champions list.
Other prominent companies made it on to the 250 Top Growth Champions list, included Emaar Properties, ranked 208th and Dubai Islamic Bank 249th.
Saudi had more listings, starting with Jabal Omar Development ranked 7th on the list. Next was Alinma bank ranked 167th, AlAwwal Bank 169th, followed by Saudi Investment Bank 210th and Saudi Arabian Mining company 222nd.
Qatar National Bank was ranked 96th and Ezdan Holding Group 157th with the two rounding up the last of the Gulf countries recognised in the list's winning column.
Globally, after Damac, China's largest auto distributor, China Grand Automotive Services, comes in at No. 2.
Rounding out the top five are real estate development firm Greenland Holdings (No. 3), gaming and real estate company Melco International (No. 4) and delivery company S. F. Holdings (No. 5).
Damac has 55 million sq ft of property development in planning or in progress, including 13,000-plus hotel rooms and 19,000-plus employees. It earned at the end of third quarter 2017 Dh6 billion, 13 per cent higher than 2016 when it earned Dh7 billion. At the end of third quarter, 2017, the company completed 19,855 units, of which 87 per cent are in Dubai and has 44,000 units in planning, of which 96 per cent are in Dubai.
This year, Forbes joined hands with Statista, an online statistics, market research and business intelligence portal, to find out, among others, who were the 500 World's Best Employers around the globe. Alphabet, Microsoft and Japan Exchange Group respectively won in 1st, 2nd and 3rd places. In addition, the list included the 250 Top Regarded Companies, the 250 Top Multinational Performers and the 250 Top Growth Champions.
- issacjohn@khaleejtimes.com