20 of the best real estate companies in the Middle East
The real estate sector in the Middle East has become one of the most important components of its economy, due to its significant contribution to the growth of the economy of the region. Over the past 20 years, the region has been known for its architectural masterpieces: Burj Khalifa, the tallest tower in the world; Palm Jumeirah, the entire man-made island off the coast of Dubai; and Jeddah Tower, which is still under construction in Saudi Arabia.
In view of the boom in the real estate sector, many of the major companies involved in the development and construction of these important projects have emerged. As the region waiting for some of the major events such as Expo 2020 and the 2022 World Cup, the real estate sector is expected to see a significant increase in sales as well as strong support for the hospitality sector, while Qatar and the UAE will welcome visitors from around the world.
Here are 20 of the best listed real estate companies in the Middle East, ranked by market value, according to Forbes Middle East:
Country: U.A.E
Market Value: $8.5 billion
Date of Establishment: 1997
Emaar Properties is one of the best real estate developers in the world. The company is known for its distinctive design, construction quality and accuracy, and timely delivery. all these factors are reflected in the large projects undertaken by the company in the real estate, shopping malls, retail, hospitality, and entertainment.
2. Jabal Omar Development Company
Country: Saudi Arabia
Market Value: $6.9 billion
Date of Establishment: 2006
Jabal Omar Development Company is one of the largest real estate developers in the Middle East and one of the largest listed companies in the Saudi Stock Exchange. Jabal Omar, a mixed-use real estate project located near the Grand Mosque in Makkah, is the company’s flagship project.
Country: U.A.E
Market Value: $4.7 billion
Date of Establishment: 2005
Through its landmark projects, Aldar Properties has become a leading real estate developer in Abu Dhabi and has occupied a great position as one of the best real estate companies in the UAE and the Middle East. Since its inception, the company has presented many important projects that have changed the civilized shape of the UAE capital.
Country: Qatar
Market Value: $4.5 billion
Date of Establishment: 1960
Ezdan Holding Group is a public shareholding company in Qatar and is listed on the Qatar Exchange, one of the largest real estate developers in the Gulf region. It has undertaken many important projects in the local real estate market, which included residential and commercial units.
Country: Saudi Arabis
Market Value: $3.8 billion
Date of Establishment: 2002
Arabian Centers Company is a leading, operator and developer of life centers in Saudi Arabia. For nearly 20 years, the company has provided many high quality and sophisticated life centers. The company now owns 21 centers in 11 different Saudi cities.
Country: Qatar
Market Value: $3.6 billion
Date of Establishment: 2005
Barwa Real Estate Company is one of the best real estate development companies in Qatar. The company has a track record of major projects including residential units, retail space, offices and mixed-use developments.
Country: Saudi Arabia
Market Value: $3.5 billion
Date of Establishment: 1994
Since its establishment in 1994, Dar Al-Arkan became one of the most effective companies in the real estate development sector in Saudi Arabia. It has also achieved global success as a result of its cooperation with experts from around the world, becoming the largest real estate developer in the Kingdom.
Country: U.A.E.
Market Value: $1.5 billion
Date of Establishment: 2002
Since its establishment in 2002, DAMAC aims to shape the Middle East’s luxury real estate market by offering a wide range of residential, commercial and leisure projects across the region and beyond.
Country: Qatar
Market Value: $1.3 billion
Date of Establishment: 1999
United Development Company (UDC) was established in 1999 and since its inception has become one of the leading companies in the development of the State of Qatar, where its portfolio includes many development projects in real estate, hospitality, marine, infrastructure, and utilities.
10. Talaat Moustafa Group Holding
Country: Egypt
Market Value: $1.3 billion
Date of Establishment: 2007
Talaat Moustafa Group (TMG) has been the leading real estate development group in Egypt for over 40 years. The Group has a track record of housing and real estate development projects as it has developed 30 million square meters of land to date. Al-Rehab and Madinaty are among the group’s key projects.
Country: Lebanon
Market Value: $908 million
Date of Establishment: 1994
Solidere is a Lebanese company for the development and reconstruction of Beirut Central District, a Lebanese joint-stock company established in 1994. The company is mainly engaged in the reconstruction and development of Beirut Central District, by providing high-quality services and activities to develop lands and real estate.
Country: Saudi Arabia
Market Value: $814 million
Date of Establishment: 2010
Knowledge Economic City Company (KEC) is one of the economic development projects launched under the Economic Cities Initiative in Saudi Arabia, with the aim of supporting the national economy by creating investment opportunities in Medina. The company, therefore, acts as an incentive to develop additional commercial areas in Medina, the first capital of Islamic civilization.
Country: Saudi Arabia
Market Value: $785 million
Date of Establishment: 1976
Saudi Real Estate Company is a leading real estate development company in Saudi Arabia that was established in 1976. The company’s portfolio includes many important residential and commercial projects.
Country: U.A.E
Market Value: $614 million
Date of Establishment: 2002
Established in 2002, Deyaar is one of the largest real estate development companies in Dubai. It has developed several important projects in the emirate of Dubai such as Business Bay, Dubai Marina, Al Barsha, DIFC, Jumeirah Lake Towers, Dubai Production City, Dubai Silicon Oasis, Al Barsha South and Al Barsha Heights.
15. Salhia Real Estate Company
Country: Kuwait
Market Value: $560 million
Date of Establishment: 1974
Salhia is one of the most important real estate investment and development companies in Kuwait. Since its establishment in 1974, the company has played a major role in the development of many retail, leisure, hotel and office projects in Kuwait. The company is expanding its projects to the Middle East and Europe as part of its international expansion strategy.
16. Madinet Nasr For Housing & Development
Country: Egypt
Market Value: $454 million
Date of Establishment: 1959
Madinet Nasr for Housing & Development company (MNHD) is one of the leading real estate developers in Egypt, established in 1959, and has been trading on the Egyptian Stock Exchange since 1995. Since its inception, the company has developed many large residential and infrastructure projects across Egypt.
Country: Kuwait
Market Value: $416 million
Date of Establishment: 1986
Tamdeen Real Estate Company was established since 1986, to become a major developer in the real estate field in Kuwait, as the company has developed several real estate and mixed-use projects in Kuwait.
Country: U.A.E
Market Value: $405 million
Date of Establishment: 1987
Union Properties was established in 1987 and since its inception, it becomes a leader in the real estate development sector in the UAE. By developing several residential and commercial projects in the UAE, the company has acquired a distinguished history and become one of the most trusted real estate developers.
Country: Egypt
Market Value: $399 million
Date of Establishment: 1997
Palm Hills Developments is one of Egypt’s leading real estate developers, established in 1997. The company owns several integrated residential and commercial projects in West Cairo, East Cairo, North Coast, and the Red Sea.
20. National Real Estate Company
Country: Kuwait
Market Value: $388 million
Date of Establishment: 1973
National Real Estate Company (NREC), is a Kuwaiti listed real estate company, was established in 1973. Company headquarter is in Kuwait and it has branches in various MENA countries. The company’s portfolio includes many mixed-use centers, industrial complexes, residential communities, and shopping malls. The company has projects in the UAE, Egypt, Jordan, Iraq, Lebanon, and Libya.
