37. Emaar Development

Country: U.A.E.
Sector: Real Estate & Construction
Founder: Mohamed Alabbar
Market Value: $9.3 billion
Sales: $3.2 billion
Profits: $2.3 billion
Assets: $13.3 billion

A majority-owned subsidiary of Emaar Properties, Emaar Development is behind freehold communities in Dubai, including Emirates Living, Downtown Dubai, Dubai Marina, Arabian Ranches, and Dubai Creek Harbour. In 2023, the company launched 27 new projects across various master plans. As of December 2023, Emaar Development had a land bank of 349 million square feet in the U.A.E. The company’s net profit grew by 98.9% in 2023 to hit $2.3 billion. In Q1 2024, the company launched 10 projects and acquired 60 million square feet near The Oasis masterplan, with a development value of $11 billion.