14 December 2021 – Emirates News Agency – www.wam.ae
DUBAI, 13th December, 2021 (WAM) — Forbes Middle East has unveiled its “Top 50 Real Estate Developers In MENA 2021” list, featuring companies that have delivered some of the most significant projects in the region this year.
The list was developed based on financials, reputation, company’s age, value of projects completed and projects under construction, and the size of the landbank and units held by the company. Developers whose projects are not yet functional have been excluded, as the list only looks at developers who have delivered their projects.
The UAE-based Emaar Properties topped the list, with total assets valued at US$34 billion as of the end of September 2021. Emaar Properties is one of the largest publicly-listed real estate companies by assets in the GCC. Abu Dhabi-based Aldar Properties placed second, with US$11.3 billion total assets as of September 2021. An Aldar-ADQ consortium acquired 85.5% of SODIC in a deal valued at US$388 million in December 2021. Egyptian mixed-use developer SODIC made the list, ranking 36th.
The developers featured on this list represent nine countries in the region. The UAE leads with 17 companies on the list, four of which are in the top five, while 11 are headquartered in Saudi Arabia, followed by seven in Egypt, six in Kuwait, three in Qatar, two each in Oman, and Morocco, and one each in Bahrain and Jordan.
To recognise the region’s most successful construction companies, Forbes Middle East has also unveiled a ranking of the “Top 10 Construction Companies In MENA 2021”. These companies were chosen based on the value of the projects completed and under construction, the number of employees, and the company’s age.
Egypt’s Orascom Construction leads the list, thanks to a host of upcoming projects in the country, including the Grand Egyptian Museum, the Monorail, and the Greater Cairo Metro. Of the 10 companies, half are based in the UAE with diverse projects, including Yas Island, the Sheikh Zayed Grand Mosque, and Expo 2020 Dubai.