Exciting UAE trio among twelve elite dirt specialist who will vie for glory in the $12 million contest
Abu Dhabi National Oil Company (Adnoc) has retained its position as UAE’s most valuable brand and second most valuable brand in the Middle East region with its brand value increasing 19 per cent to $12.8 billion (Dh47 billion).
According to valuation consultancy Brand Finance, Abu Dhabi leads in value while Dubai leads in the number of leading brands. As many as 24 firms in the Brand Finance UAE 50 2022 ranking are headquartered in Dubai, while 19 are based in Abu Dhabi.
In terms of value, the Abu Dhabi-based brands are valued at $32 billion as compared to the $22 billion brand value of companies based in Dubai. The gap between the two is primarily attributed to Adnoc and Etisalat which are based in Abu Dhabi.
“Adnoc continues to be the principal enabler of UAE’s sustainable economic development goals. Since its successful transformation it has taken a leading role in the industry as evidenced by its successful partnerships with peers and international investors,” said Andrew Campbell, managing director of Brand Finance Middle East.
Etisalat retained the title of the strongest brand in UAE, with a Brand Strength Index (BSI) score of 89.2 out of 100 and a corresponding AAA brand strength rating.
In addition to the strong BSI performance, Etisalat is increasing its brand value from $8.5 billion to $10.1 billion. The UAE telecom firm also boasts the most valuable telecoms brand portfolio in the Middle East.
Dubai Financial Markets’ brand value rose 105 per cent to $86 million, becoming the UAE’s fastest-growing brand. The DFM plans to launch a market-maker fund to boost trading and has also announced a healthy pipeline of IPOs (10 state and state-related firms) with an aim to double the financial market size to over Dh3 trillion.
According to Brand Finance, Emirates NBD bank is the strongest UAE brand in the finance sector with a Brand Strength Index (BSI) score of 79.9 out of 100 with a corresponding AAA- rating, Abu Dhabi Commercial Bank (ADCB) has recovered and surpassed its previous BSI score by 11.9 points, achieving a strong score of 75.4 out of 100.
Dubai Electricity and Water Authority (Dewa), Emaar Properties, and Mashreq bank all moved up two ranks in the Brand Finance UAE 50 2022 ranking, growing by more than 30 per cent in brand value. Utilities brand Dewa’s brand value grew 53.3 per cent to $806 million.
Emaar Properties is witnessing a strong recovery in brand value to pre-pandemic levels with a 33 per cent increase to $2.1 billion. Mashreq Bank experienced a 54.2 per cent increase over the past year with a brand value of $747 million.
Aldar has the fastest growing Brand Strength Index (BSI) in the real estate sector, up 15 points. Aldar’s brand value grew 20 per cent to $535 million.
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As travel restrictions reduce, low-cost carriers Air Arabia and Flydubai have witnessed an upturn in brand value. The former witnessed a 12 per cent increase in brand value to $148 million and the latter experienced a 7 per cent increase to $141 million.
Interestingly, the three highest-ranking new entrants in the UAE are Abu Dhabi Ports, Majid Al Futtaim and Emirates Global Aluminium with a brand value of $440 million, $258 million and $322 million, respectively.
waheedabbas@khaleejtimes.com
Exciting UAE trio among twelve elite dirt specialist who will vie for glory in the $12 million contest
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