Top 50 Listed Real Estate Companies in the Middle East
1. EMAAR PROPERTIES
Country: U.A.E.
Market Value: $8.5 billion Established: 1997
Emaar Properties is the world's largest property company outside China, with a landbank of over 1.6 billion square feet. In 2018, they launched 16 new residential destinations, with over 6,000 units and a total value of $3.5 billion. Emaar's Downtown Dubai is home to the Burj Khalifa, Dubai Mall, the dancing fountains and Dubai Opera. Internationally, the company is active in 10 high-growth countries. As of December, 2018, Emaar had delivered over 16,100 residential properties in all its key global markets since it was established in 2006.
2. JABAL OMAR DEVELOPMENT COMPANY
Country: Saudi Arabia
Market Value: $6.9 billion
Established: 2006
Jabal Omar Development Company is developing Jabal Omar—a multi-use real estate mega development within walking distance of the Grand Mosque of Makkah, which will help accommodate a growing number of pilgrims at the holy site. When complete it will cover 230,000 square meters and house 40 towers. It is one of the largest real estate projects in Saudi Arabia and will consist of residential apartments, hotels, commercial and retail units. The hotels are owned by Jabal Omar Development Company and operated by international luxury hotel brands like Conrad, Hyatt Regency, Marriott and Hilton.
3. ALDAR PROPERTIES
Country: U.A.E.
Market Value: $4.7 billion
Established: 2005
Aldar Properties is the leading real estate developer in Abu Dhabi, and one of the most well known in the U.A.E. and wider Middle East region. Aldar has developed several iconic projects in the nation's capital, including its headquarters, which is shaped like a coin, the Gate Towers in Shams Abu Dhabi on Al Reem Island, and the Yas Marina Circuit. Its latest project, Saadiyat Reserve, is the first time non-Emirati buyers can buy residential plots of land in Abu Dhabi.
4. EZDAN HOLDING GROUP
Country: Qatar
Market Value: $4.5 billion
Established: 1960 The roots of Ezdan Holding Group date back to 1960, when it was founded as a private company under the name of Thani Bin Abdullah Housing Group. In early 2007, after undergoing several changes, it was transformed to Ezdan Real Estate Company, which became a public joint stock company in the same year. Today, Ezdan is among the largest landlords in Qatar and owns 28,846 residential units and more than 600 commercial units. Ezdan also worked to help facilitate and prepare Qatar to host the 2006 Asian Games by building residential complexes, and it sponsored the 2011 Pan Arab Games.
5. ARABIAN CENTRES COMPANY
Country: Saudi Arabia
Market Value: $3.8 billion
Established: 2002
Arabian Centres is the leading owner, operator and developer of contemporary lifestyle centers in Saudi Arabia. Today, it has a portfolio of 19 malls located in 10 major Saudi cities. The malls are home to more than 4,000 stores and host more than 109 million visitors. The company listed on the Saudi Stock Exchange in May this year and saw over 26,000 individual investors subscribe for 5.7 million shares at the IPO price of $6.9 per share.
6. BARWA REAL ESTATE GROUP
Country: Qatar
Market Value: $3.6 billion
Established: 2005
Barwa Real Estate is a developer and operator of multiple reality asset classes in Qatar. The group's portfolio includes residential, commercial, mixed-use and hospitality assets. The group currently owns over 3.5 million square meters in built up area and a land bank of 5 million square meters in Qatar. Their key projects include Mukaynis Compound, an affordable housing project with over 3,170 residential units, and Barwa Al Baraha which includes 561 warehouses and 118 workshops.
7. DAR AL ARKAN REAL ESTATE DEVELOPMENT COMPANY
Country: Saudi Arabia
Market Value: $3.5 billion Established: 1994
Dar Al Arkan Real Estate Development Company is among the largest real estate developers in Saudi Arabia. Founded in 1994, it has delivered over 15,000 residential units and owns over half a million in commercial real estate. Dar Al Arkan has a presence in four cities in Saudi Arabia: Mecca, Medina, Jeddah and Riyadh. In 2017, it diversified beyond the Kingdom, to launch its first project in Dubai in partnership with interiors by Roberto Cavalli. The company uses sukuks to finance and has raised over $2 billion in Islamic financing in the last decade.
8. MAKKAH CONSTRUCTION AND DEVELOPMENT COMPANY
Country: Saudi Arabia
Market Value: $3.1 billion
Established: 1989
Makkah Construction & Development Company is one of the leading real estate companies in Saudi Arabia. The company is responsible for building up the areas around Makkah's Holy Mosque, owning, developing, operating and investing the real estate around the locale. The company constructed its first commercial and residential complex on 13,706 square meters of land and 228,000 square meters of building area surrounding the Holy Mosque. The project consists of towers, a hotel, a commercial center and a prayer hall that can accommodate 20,000 people.
9. MABANEE COMPANY
Country: Kuwait
Market Value: $2.6 billion
Established: 1964 Mabanee Company is a Kuwaiti shareholding company that has five divisions: real estate development; ownership, construction, management and operation of commercial malls; project management; establishment and management of real estate investment portfolios; and logistics. The company is best known for the Avenues mall brand, which includes Avenues Kuwait—the largest mall in Kuwait with more than 1,100 stores. The company is also building two hotels in Kuwait, which will be managed by the Hilton Group. It also has malls in Bahrain and it is building shopping centers in Riyadh and Khobar in Saudi Arabia.
10. EMAAR THE ECONOMIC CITY
Country: Saudi Arabia
Market Value: $2.2 billion Established: 2006
Emaar The Economic City's primary focus is the planning and development of the King Abdullah Economic City (KAEC). When it launched its IPO in 2006, more than half the Saudi population subscribed. The sole regulator of KAEC is the Economic Cities Authority (ECA), headquartered in KAEC. ECA offers privileged regulations, including 100% foreign ownership for individuals and organizations, seaport and bonded zone regulations, and ease of access to permits and licenses related to residing, working, operating businesses, and owning and managing properties.
11 DAMAC PROPERTIES
Country: U.A.E.
Market Value: $1.5 billion
Established: 2002 DAMAC Properties is now focusing on delivering projects rather than launching new ones. It is slated to deliver 10,000 units in the next two years.
12 UNITED DEVELOPMENT COMPANY
Country: Qatar
Market Value: $1.3 billion
Established: 1999 UDC's flagship project is The Pearl-Qatar—an urban mixed-use, man-made island development. Located 350m offshore of Doha's West Bay District, it is one of the largest real-estate developments in the Gulf.
13 TALAAT MOUSTAFA GROUP HOLDING
Country: Egypt
Market Value: $1.3 billion Established: 2007
Amongst the group's largest and most prominent development projects is “Al Rehab” East of Cairo, spreading across 10 million square meters to host 200,000 residents.
14 TAIBA INVESTMENTS COMPANY
Country: Saudi Arabia
Market Value: $1.2 billion Established: 1988
As of December 2018, Taiba has assets of over $1.2 billion and has invested in companies across several real estate firms.
15 SOLIDERE
Country: Lebanon
Market Value: $908 million
Established: 1994
Solidere's main goal is the reconstruction of Beirut's downtown, in accordance with an officially approved master plan. Its share capital is worth $1.6 billion.
16 KNOWLEDGE ECONOMIC CITY
Country: Saudi Arabia
Market Value: $814 million Established: 2010
Situated in Madinah, Saudi Arabia, Knowledge Economic City was launched under the economic cities initiative in the Kingdom for the establishment of knowledge industries.
17 SAUDI REAL ESTATE COMPANY
Country: Saudi Arabia
Market Value: $785 million
Established: 2016
The company has over 1.2 million square meters of landbank and has over $640 million in paid up capital.
18 HELIOPOLIS HOUSING & DEVELOPMENT COMPANY
Country: Egypt
Market Value: $756 million
Established: 1906 Heliopolis is a subsidiary of the holding company for the construction and development of the Egyptian Ministry of Public Business Sector. The company's sales increased to $59 million in the 2018 fiscal year.
19 ARRIYADH DEVELOPMENT COMPANY
Country: Saudi Arabia
Market Value: $680 million
Established: 1994
The vision for Arriyadh was suggested by King Salman Bin Abdul Aziz, when he was the governor of the Riyadh region.
20 DEYAAR
Country: U.A.E.
Market Value: $614 million
Established: 2002 Deyaar was established with a paid-up capital of just above $5 million. Today, the company is worth $1.6 billion.
21 SALHIA REAL ESTATE COMPANY
Country: Kuwait
Market Value: $560 million
Established: 1974
Based in Kuwait, Salhia Real Estate has diversified to other GCC countries as well as Germany. In 2018, the company made revenues of nearly $150 million.
22 COMMERCIAL REAL ESTATE COMPANY (AL TIJARIA)
Country: Kuwait
Market Value: $532 million
Established: 1968 Established in 1968 and restructured in 2000, the Commercial Real Estate Company is one of the largest real estate developers in Kuwait with assets worth $1.7 billion.
23 MADINET NASR FOR HOUSING & DEVELOPMENT
Country: Egypt
Market Value: $454 million Established: 1959
Madinet Nasr for Housing & Development was established with the primary objective of developing 40 million square meters of land in Nasr City, as well as other nearby areas on the outskirts of Cairo.
24 TAMDEEN REAL ESTATE
Country: Kuwait
Market Value: $416 million
Established: 1986
Among Tamdeen's key projects is Al Kout—Kuwait's largest waterfront development. The group has revenues of about $44 million and assets of $1.8 billion.
25 UNION PROPERTIES
Country: U.A.E.
Market Value: $405 million
Established: 1987
Since its inception, Union Properties has delivered more than 10,000 properties, and has assets of $1.7 billion.
26 PALM HILLS DEVELOPMENT COMPANY
Country: Egypt
Market Value: $399 million
Established: 2005
Palm Hills Development Company has one of the largest landbanks in Egypt, with a roster of 29 projects in West Cairo, East Cairo, the North Coast and the Red Sea.
27 REEM INVESTMENTS
Country: U.A.E.
Market Value: $392 million
Established: 2005
Reem Developers—Reem Investments' real estate arm— is the master developer for two mega projects: Najmat on Reem Island and Rawdhat along Airport Road in Abu Dhabi, covering 60 million square feet.
28 NATIONAL REAL ESTATE COMPANY
Country: Kuwait
Market Value: $388 million
Established: 1973 Headquartered in Kuwait, NREC has subsidiaries and developments across MENA, including the U.A.E., Egypt, Jordan, Iraq, Lebanon, and Libya, with assets worth $1.5 billion.
29 SIX OF OCTOBER DEVELOPMENT AND INVESTMENT
Country: Egypt
Market Value: $332 million
Established: 1996
The company has delivered 1,079 units last year, bringing over $300 million in revenue.
30 DOUJA PROM ADDOHA
Country: Morocco
Market Value: $296 million
Established: 1988
The group developed residential projects in more than 16 cities in Morocco, with its main projects in Casablanca, Tangier, and Marrakech.
31 MANAZEL REAL ESTATE
Country: U.A.E.
Market Value: $286 million
Established: 2006 Spread over an area of approximately 1.3 million square meters, Manazel's Ghantoot waterfront project will include over 700 plots of land for sale. Manazel's revenues were over $220 million last year.
32 KUWAIT REAL ESTATE COMPANY
Country: Kuwait
Market Value: $278 million
Established: 1972 Kuwait Real Estate Company— popularly known as AQARAT— has undertaken projects in MENA, the GCC, Europe, and the U.S.
33 UNITED REAL ESTATE COMPANY
Country: Kuwait
Market Value: $243 million Established: 2004
United Real Estate Company's portfolio features a diverse range of sectors from airport to hospitality construction. The firm is also an active member of Construction Management Association of America.
34 ALANDALUS PROPERTY COMPANY
Country: Saudi Arabia
Market Value: $271 million Established: 2006
Alandalus Property Company's main activity is commercial real estate Investment and development. It currently owns three malls and four community shopping centers with varying ownership percentages.
35 SEEF PROPERTIES
Country: Bahrain
Market Value: $246 million Established: 1999
Seef Properties developed the 135,000 square meter Seef Mall—Bahrain's first authentic mall, premier family shopping hub and entertainment destination.
36 ESHRAQ INVESTMENTS
Country: U.A.E.
Market Value: $246 million Established: 2006
Eshraq Investments' mixed-used community development, The Gateway Project, will serve as a contemporary, luxury haven for businesses and residents alike in Abu Dhabi.
37 RAK PROPERTIES
Country: U.A.E.
Market Value: $246 million
Established: 2005
RAK Properties' IPO in 2005 was oversubscribed by almost 57 times.
38 MAZAYA REAL ESTATE DEVELOPMENT
Country: Qatar
Market Value: $229 million
Established: 2008 Mazaya developed Tala Residential Compound specifically for Qatar National Convention Center staff housing, which was delivered in the fourth quarter of 2012.
39 RED SEA INTERNATIONAL COMPANY
Country: Saudi Arabia
Market Value: $205 million
Established: 1967 Backed by more than four decades of industry experience, the Red Sea International Company is among the region's leaders in industrial and affordable housing.