Business / #ForbesBusiness



October 8, 2019,   5:13 PM

The Arab World’s Best Regarded Companies 2019

Samar Khouri

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Source: Google

Forbes' recently released list of the World’s Best Regarded Companies 2019 features a number of conglomerates from the Middle East.

The list was compiled in partnership with Statista, who surveyed 15,000 people from more than 50 countries, with social conduct, performance, honesty and employer practices all factors contributing to the overall ranking of a company.

Here are the top Middle East-based companies that made it onto the ranking:

#19 Emirates NBD

Industry: Regional banks

Location: Dubai, UAE

Established: 2007

Emirates NBD, the region’s leading bank group, ranked in the top 20 out of 250 best-regarded businesses on the Forbes’ list. As of June this year, its total assets amounted to approximately $146 billion. Playing a key role in the global digital banking industry, the Dubai-based bank currently has a network of 233 branches and 1081 ATMs and SDMs in the UAE and overseas. On July 31, Emirates NBD acquired Denizbank, Turkey’s fifth largest bank, buying 99.85% of its shares.

 

#20 Emaar Properties

Industry: Real estate

Location: Dubai, UAE

Established: 1997

Emaar Properties PJSC  is Dubai’s largest listed developer and a provider of premium lifestyle destinations. It was founded by Mohamed Ali Rashed Al-Abbar in June, 1997. The real estate giant has a significant presence in the Middle East, North Africa and Asia, with a market capitalization of $9.6 billion. The chairman recently celebrated the company’s listing of its $500 million Sukuk on Nasdaq Dubai.

 

#29 Saudi Arabian Mining

Industry: Diversified metals and mining

Location: Riyadh, Saudi Arabia

Established: 1997

Based in Riyadh, Saudi Arabian Mining Co. or Ma’aden, is ranked among the fastest-growing mining and metal companies in the world. The country’s state-run mining firm has reached a total of $3.8 billion and has a diverse portfolio of mineral assets that includes gold, copper and phosphate. Ma’aden reportedly jumped from 128th to 11th position of the world’s largest mining companies in 10 years. It has acquired a 85% stake of Mauritius-based fertilizer distribution group, Meridian, at value of $140 million.

 

 #77 Al Rajhi Bank

Industry: Regional banks

Location: Riyadh, Saudi Arabia

Established: 1957

Saudi’s Al Rajhi Bank is one of the world’s largest Islamic banks, with $49.7 billion in market capitalization. It has over 570 branches and over 152 dedicated ladies’ branches, all occupied by 13,532 employees. In the second quarter of 2019, the bank reached $764.39 million, an 11.6% increase compared to the same time last year.

 

#122 Saudi Basic Industries

Industry: Diversified chemicals

Location: Riyadh, Saudi Arabia

Established: 1976

Founded in September, 1976, in Riyadh, the diversified petrochemical giant is recognized as a leader in manufacturing and steel production in the Gulf region, producing high-quality agri-nutrients, chemicals, plastics and more. The Saudi government owns 70% of Saudi Basic Industries Corp.’s shares while the remaining percentage is publicly traded on the country’s stock exchange.

 

#123 Almarai

Industry: Food processing

Location: Riyadh, Saudi Arabia

Established: 1977

Since its inception in 1977 by HH Prince Sultan bin Mohammed bin Saud Al Kabeer, Almarai Co. Ltd. has transformed the dairy farming industry in the Gulf region. Some of its brands include L'usine, Almarai, 7Days, Nura and Alyoum. In the third quarter of 2019, the Saudi Arabian dairy conglomerate recently announced a 7.7% revenue growth, reaching approximately $952.7 million compared to the corresponding quarter in 2018.

 

#176 Petro Rabigh

Industry: Diversified chemicals

Location: Rabigh, Saudi Arabia

Established: 2005

Petro Rabigh, or the Rabigh Refining and Petrochemical Company, was formed in a joint venture between Japan’s Sumitomo Chemical Co Ltd. and Saudi Aramco in 2005. Valued at a reported $10 billion, the Saudi-based firm has recorded a sale of $10.9 billion and hit a market cap of $4.8 billion.



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