Emaar
Dubai-based companies Emaar and Damac are among the leading listed real estate entities in the Arab world, Forbes Middle East announced late on Wednesday night.
With an asset base of $21.7 billion, as well as the highest amount of revenue at $3.7 billion, Emaar towered above the remaining nine companies in the list.
Emaar tied with Damac Properties for profit earnings of $1.2 billion. And Jabal Omar Development Co. came out on top for highest market value at $14.1 billion.
Khuloud Al Omian, Editor in Chief at Forbes Middle East said,” 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 GCC, the UAE’s real estate market still is robust and has proven adaptive to change.”
Top 10 public real estate companies
1. Emaar Properties
2. DAMAC Properties
3. Aldar Properties
4. Barwa
5. Ezdan Holding
6. Jabal Omar Development Co.
7. United Development Company
8. Talaat Moustafa Group Holding
9. Dar Alarkan Real Estate Development Company
10. Douja Promotion Addoha Group
Top 5 private real estate companies
1. Qatari Diar
2. Dubai Properties
3. Wasl Asset Management Group (Wasl Properties)
4. Nakheel
5. Arenco Real Estate
About Damac : DAMAC Properties, which employs nearly 2,000 employees, is a publicly-listed company with shares traded on the Dubai Financial Market. The Company has one of the best track records in the luxury property development market and to date has delivered over 20,230 units, with a development portfolio of over 44,000 units at various stages of planning and progress.
As a leading brand in the market, DAMAC Properties has joined forces with some of the most recognisable fashion and lifestyle brands to bring new and exciting living concepts to the market. Projects include a Tiger Woods designed golf course, which will be managed by The Trump Organization, luxury apartments with interiors by Italian fashion-houses Versace Home, Fendi Casa and Just Cavalli, luxury villas styled by Bugatti, and uniquely conceptualised Paramount Hotels & Resorts to deliver serviced living at its most opulent.
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