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UAE dominates Forbes Middle East's top real estate, construction companies in MENA

UAE dominates Forbes Middle East's top real estate, construction companies in MENA
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Mubasher: The UAE-based real estate companies have accounted for more than a third of Forbes Middle East's "Top 50 Real Estate Developers In MENA 2021" list with 17 companies.

The list was based on financials, reputation, company’s age, the value of completed and under-construction projects, the size of the landbank, and units held by the company, according to a press release on Monday.

Forbes Middle East's list has comprised companies from nine countries, with 17 companies in the UAE, 11 in Saudi Arabia, seven in Egypt, six in Kuwait, three in Qatar, two each in Oman and Morocco, and one each in Bahrain and Jordan.

The UAE-based Emaar Properties has led the list, with total assets of $34 billion as of the end of September 2021, followed by Aldar Properties with $11.3 billion total assets.

In the meantime, Forbes Middle East also announced "The Top 10 Construction Companies In MENA 2021", which were chosen based on the value of completed and under-construction projects, the number of employees, and companies' age.

Egypt-based Orascom Construction has topped the list, attributed to upcoming projects in the country, including the Grand Egyptian Museum, the Monorail, and the Greater Cairo Metro.

In addition, half of the 10 companies are based in the UAE with various projects, including Yas Island, the Sheikh Zayed Grand Mosque, and Expo 2020.