Forbes Middle East celebrated the Arab World’s top 100 real estate companies, including public, private, and international real estate, as well as real estate consulting companies.
According to Forbes’ press release, 36 out of the top 50 real estate companies were from the Gulf region. Emaar Properties topped the list with the highest revenues, evaluated at $3.7bn, and an assets base of $21.7bn. DAMAC properties in profits tied with Emaar at $1.2bn, while Jabal Omar Development Co. had the highest market value of $14.1bn.
”The real estate market in the region is undergoing a transformation. The market is now witnessing a shift from high-end luxury buyers to the middle-class segment of affordable consumers. With the turmoil witnessed in the [Gulf Cooperation Council region] GCC, the United Arab Emirates’ real estate market still is robust and has proven adaptive to change,” Khuloud Al-Omian, editor in chief of Forbes Middle East said.
According to the press release, the top public real estate companies list was created through analysing the companies’ annual reports and their base country’s stock market website. To rank the companies, metrics of market value, assets, profits, and revenues were used.
The top ten public real estate companies were Emaar Properties, DAMAC Properties, Aldar Properties, Barwa, Ezdan Holding, Jabal Omar Development Co., United Development Company, Talaat Moustafa Group Holding, Dar Alarkan Real Estate Development Company, and Douja Promotion Addoha Group.
The top private real estate companies were ranked using questionnaires, companies’ websites, and research reports provided by real estate consultants, the release added. The ranking was determined using estimated revenue, number of employees, and date of establishment metrics.
The top five private real estate companies were Qatari Diar, Dubai Properties, Wasl Asset Management Group (Wasl Properties), Nakheel, and Arenco Real Estate, according to the press release.
Additionally, the top five real estate consultants were Tamleek Real Estate Company, Better Homes, Edwards and Towers Real Estate Brokers, Allsopp and Allsopp, and Harbor Real Estate. The top five international real estate consultants were JLL, CBRE, Cluttons, Knight Frank, and Chestertons.