91. Kuwait Projects Company (Holding) -KIPCO

Country: Kuwait
Sector: Investments
Group CEO: Dana Nasser Al Sabah
Market Value: $2.2 billion
Sales: $3.5 billion
Profits: $54 million
Assets: $37.3 billion

KIPCO is a holding company that focuses mainly on investments in financial services, media, and real estate. It lately expanded into new sectors, including energy, foodstuff, healthcare, manufacturing, and logistics. In November 2022, KIPCO completed its merger by amalgamation with Qurain Petrochemical Industries, bringing the total issued capital to $1.64 billion. In April 2023, the company signed a binding agreement to sell its 46.32% stake in Gulf Insurance Group to Fairfax Financial Holdings for $860 million. KIPCO’s subsidiaries include Burgan Bank, United Real Estate Company, and Jassim Transport & Stevedoring Company.