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Emaar leads the pack of developers in the Arab world

Waheed Abbas/Dubai
Filed on September 10, 2017 | Last updated on September 10, 2017 at 07.14 am
The unlisted real estate developersí list is dominated by the UAE, with 25 of them making to the list of top 40, shows Forbes data.
The unlisted real estate developers' list is dominated by the UAE, with 25 of them making to the list of top 40, shows Forbes data.

(Alamy Image)

Emirati companies' revenues reached $10.4 billion as against $18.1 billion by 40 Arab developers.


Seven UAE companies have been ranked among the top 40 listed real estate developers in the Arab world, led by Emaar, Aldar and Damac Properties, according to Forbes magazine.

Out of the total market value of $90.5 billion (Dh332 billion) of Arab developers, the UAE real estate developers' market value totalled $27.86 billion. Emirati companies' revenues reached $10.4 billion as against $18.1 billion by 40 Arab developers.

Emaar leads the pack of developers in the Arab world (KT1311699.JPG)

Six UAE developers posted $3.5 billion profits, making up more than one-third of the total profits recorded by Arab developers which amounted to $5.1 billion. UAE's Arabtec Holding posted a loss of $956 million last year. Of the $126.5 billion assets by top 40 Arab developers, the UAE companies' assets stood at $50.7 billion.

All the data of the listed companies was based on their announced revenues, assets, profits and stock market value. Dubai-listed Emaar Properties topped in all the four categories.

The unlisted real estate developers' list is dominated by the UAE, with 25 of them making to the list of top 40, shows Forbes data.

Among the top unlisted real estate developers are Wasl Properties, Dubai Properties, Majid Al Futtaim Properties, Al Futtaim Properties, Nakheel, Arenco Real Estate, Habtoor Real Estate, Bloom Holding, Sobha Group, Select Group, Jumeirah Golf Estate, Danube Properties, MAG Properties, Tiger Real Estate Development, Cayan Group, Gemstone Real Estate, Al Barari, Azizi Developments, Sweet Home Groups, Palma Holding, Tebyan Real Estate, Adventz, Reign Holdings, Shaikhani Group and Ajmal Real Estate.

For unlisted real estate developers, a questionnaire was circulated and ranked the corporates that responded or disclosed information on the value of projects under construction, number of employees and the age of the company.

The top real estate consultants ranked by Forbes are Tamleek Real Estate Company, Better Homes, Edwards & Towers Real Estate Brokers, Allsopp & Allsopp, Harbor Real Estate, Ottomans International, Rocky Real Estate, Aqua Properties, Crompton Partners and Zabadani Real Estate. Top five international real estate consultants are Gulf Sotheby's, JLL (Jones Lang LaSalle), Cluttons, CBRE and Knight Frank.

The top five real estate investment trusts (Reits) are Emirates Reit, ENBD Reit, Jadwa Reit Al Haramain, Riyad Reit and Taleem Reit. The information was collected from stock exchanges.

waheedabbas@khaleejtimes.com





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