Brand Finance report names DP World as fastest-growing brand across the Emirates

DP World, the global ports operator with terminals from Australia to Peru, is the UAE’s fastest-growing brand, according to a report by London consultancy Brand Finance.

The Dubai company climbed up in the Brand Finance UAE 25 2021 ranking, with its brand value growing 17 per cent to $1.1 billion. It recorded strong performances in markets including India, the UK, the Netherlands, Belgium and Egypt, the consultancy said in a report released yesterday.

“DP World continues to set its sights on extending its global reach, with expansion plans under way at several of its terminals to increase capacity,” Brand Finance said. “The container industry in general has shown itself to be resilient to the pandemic turmoil, with the meteoric rise in e-commerce maintaining demand.”

Last month, DP World said it is on track to report a “relatively stable” financial performance for 2020. However, the outlook for this year remains uncertain because of the Covid-19 pandemic.

Abu Dhabi National Oil Company claimed the title of the UAE’s most valuable brand and the Middle East’s second-most valuable brand with a value of $10.8bn. Etisalat emerged as the UAE’s strongest brand for the first time, overtaking Emirates, the report said.

Saudi Arabian brands dominated the rankings for the Middle East’s most valuable.

About 45 Saudi Arabian brands made the list and accounted for 56 per cent of the total brand value in the ranking. The UAE came in second with 25 brands, representing 36 per cent of the total brand value. Qatar came in third position with its 12 brands accounting for 11 per cent of the total value.

The Brand Finance Middle East ranking has been expanded to include 100 brands for the first time, including names from nine Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, Oman, Bahrain, Jordan, Lebanon and Iraq.

Oil and gas companies dominated the Middle East’s most valuable brands. Six oil and gas operators in the Brand Finance Middle East 100 ranking accounted for 38 per cent of the total brand value, making it the most valuable sector, with banking and telecoms in second and third, respectively.

Oil and gas giant Saudi Aramco retained its top brand ranking in the Middle East, followed by Adnoc.

“Nations across the region focus on diversification – including Saudi Arabia’s Vision 2030, the UAE Vision 2021, Qatar’s National Vision 2030 and Kuwait’s Vision 2035,” said Andrew Campbell, managing director of Brand Finance Middle East.

“No doubt we will be seeing the rise of other sectors in the coming years.”