TOP 100 ARAB FAMILY BUSINESSES 2023

Family Businesses Are Evolving And Unlocking Value

Most of the top family-owned businesses in the Middle East either started off as dealers, agents, or distributors for international companies, with the most successful enterprises evolving by adding more services and sectors to their portfolios. However, recently more family businesses seem to be looking to access the region’s stock exchanges for growth. In our 2023 list of the Top 100 Arab Family Businesses, over 60% are major shareholders in a company listed on a regional stock exchange. Most of these listed companies’ family businesses were among the founding shareholders. These listings not only bring in capital but allow family members to unlock value, as well as improve transparency and governance.

While there are now female board members in most family businesses in the Middle East, almost all the heads are still men. Only four of the top 100 family businesses have women leaders. Most of the companies on our list have stood the test of time, with six of the entries established in the 1800s.

Saudi Arabia dominates with 33 entries and is home to four of the top 10 companies. The U.A.E. comes in close second place with 29 entries, followed by Egypt with nine, and Qatar with eight. Family businesses have also begun investing in startups, with the Mansour and Abdel Latif Jameel families investing in global startups. The Tamer Group acquired Mumzworld, a childcare e-commerce company, in 2021.

Family businesses are still playing catchup in terms of sustainability, but as most are reaching the second or third generation, they have begun to change with the times. Many of them are bringing in corporate governance, establishing clear structures, and putting professional managers in place. A few companies have separate family boards and corporate boards, and several have non-family members on their boards. Most have a non-family member in the top management team.

On the ESG front, the region’s family businesses are mostly focused on social causes rather than the environment. According to a 2023 PwC study, only 11% of family businesses have set targets around their environmental impact and only 38% regularly communicate how they are performing against non-financial indicators.

While many are still focused on traditional business and, to a large extent, have stayed clear of tech, they will need to transform as tech continues to disrupt industries.

Methodology

Businesses owned or run by Arab families were considered for the list. We collected information from stock exchanges, reports from consulting firms, and other primary sources. We ranked the family businesses based on the following:

• The size and value of the businesses they hold, including listed entities, real estate and hospitality assets, and revenues from other holdings.

• Business activity in the last year, including IPOs, new project launches, and new investments.

• How diversified the business is in terms of sectors and geographies.

• The performance of their key businesses and the sectors in which they operate.

• Age and legacy of the company.

• Total number of employees.

To nominate yourself or someone else for our lists, email: info@forbesmiddleeast.com

1 Mansour Group

• Group Chairman: Mohamed Mansour

Country: Egypt

Established in: 1952

The Mansour Group has grown over three generations, from starting in 1952 as a cotton exporter to becoming a global conglomerate. The group has operations in automotive, investment, and foodstuff, among other sectors. Al Mansour Holding Company for Financial Investments is Egypt’s largest distribution group. In May 2023, U.S. Major League Soccer (MLS) awarded a $500 million franchise to a group led by Mohamed Mansour to launch a football club in California by 2025. Yasseen, Mohamed, and Youssef Mansour had a combined net worth of $6.4 billion as of July 2023.

2 Al-Futtaim Group

• Chairman: Abdulla Al Futtaim

Country: U.A.E.

Established in: 1930

With operations in the automotive, finance, real estate, retail, and healthcare sectors, the Al-Futtaim Group has over 200 brands across 20 countries. It employs 33,000 people. The group owns 100% of Orient Insurance, 83.3% of the Emirates Investment Bank, and 26.3% of the Commercial Bank of Dubai. Abdulla Al-Futtaim and family had a net worth of $2.4 billion as of July 2023. In March 2023, the Al-Futtaim Group launched the Electric Mobility Company in the U.A.E., an e-mobility-focused dealership.

3 Olayan Financing Company (OFC)

• Chair of the Executive Committee and Deputy Chair: Lubna S. Olayan

Country: Saudi Arabia

Established in: 1947

OFC is the parent company of the Olayan Group, which was founded in 1947 by Suliman Olayan as the General Contracting Company. Today, the group has a diverse industrial, commercial, and investment portfolio. In June 2023, it supported the Asia Climate Solutions Design Grant in its first round of funding. The Olayan Group has offices in Vaduz, London, New York, Athens, Luxembourg, Singapore, and Riyadh.

4 Al Ghurair Investment

• Chairman of the Executive Committee: Abdul Aziz Abdulla

Al Ghurair Country: U.A.E.

Established in: 1960

Established in 1960 as a trading business, Al Ghurair was one of the first pillars of industry in the U.A.E. Today, the group has a diversified portfolio across 50 countries in food and resources, construction, energy, and venture, among other sectors. It employs around 28,000 people. In March 2023, the group’s automotive division signed a partnership with Chinese automobile manufacturer EXEED to be the exclusive distributor of its SUVs in the U.A.E. In April 2023, Al Ghurair Foods signed 50-year land lease agreements worth $272.3 million with Khalifa Economic Zones Abu Dhabi. Abdulla Al Ghurair and family had a net worth of $3.2 billion as of July 2023.

5 Majid Al Futtaim Holding

• CEO: Ahmed Galal Ismail

Country: U.A.E.

Established in: 1992

Majid Al Futtaim Holding has businesses in retail, entertainment, real estate, F&B, and lifestyle across the Middle East, Africa, and Central Asia. The company brought the Carrefour brand to the region and owns the right to operate it in 30 countries. It currently operates 458 Carrefour stores, 29 shopping malls in five countries, and 13 hotels (11 in the U.A.E. and two in Bahrain). The group recorded revenues of $9.9 billion in 2022, an increase of more than 12% compared to 2021.

6 Abdul Latif Jameel

• Chairman: Mohammed Abdul Latif Jameel

Country: Saudi Arabia

Established in: 1945

Abdul Latif Jameel operates in mobility, energy, finance, and healthcare, among other sectors. It has a presence in 30 countries across six continents and employs over 11,000 people. In January 2023, Abdul Latif Jameel Health signed a distribution agreement with iSono Health. In February 2023, it signed a distribution agreement with MG to begin distributing its vehicles in Morocco, and Fotowatio Renewable Ventures (FRV)—part of Abdul Latif Jameel Energy—entered the German market to provide nearly 800,000 homes with clean energy. In March 2023, FRV opened its first office in the U.K. It aims to reach one gigawatt of installed capacity in Europe by 2025.

7 Al Muhaidib Group

• Group Chairman: Sulaiman Al

Muhaidib

Country: Saudi Arabia

Established in: 1943

Abdulkadir Al Muhaidib founded Al Muhaidib Group in 1943 as a food store. His children—Sulaiman, Emad, and Essam— operate the company. It is an investor in the Saudi stock market, with stakes in the Savola Group. The group’s businesses span 25 countries, with a focus on F&B, industrial and infrastructure, real estate, and financial investment. Group Chairman Sulaiman A.K. Al Muhaidib is also the chairman of the Savola Group and the Rafal Real Estate Development Company.

8 SEDCO Holding

• Chairman: Saleh Salem Bin

Mahfouz

Country: Saudi Arabia

Established in: 1976

SEDCO Holding is a 47-year-old Shariahcompliant, ethical, and sustainable investment firm with diversified interests in financial, real estate, and direct investments. The company mainly invests in asset management, education, healthcare, hospitality, and real estate. It employs more than 3,500 people across the world. In 2022, SEDCO invested $171.5 million in a mixed-use tourism project in Abha, Saudi Arabia. SEDCO Holding also owns 35% of Nahdi Medical Company, one of the largest pharmacy chains in the Middle East. Nahdi raised $1.4 billion in 2022, which was Saudi Arabia’s largest IPO since Aramco’s listing.

9 Al Ghurair Group

• Group CEO: Iyad Malas

Country: U.A.E.

Established in: 1960

Saif Ahmed Al Ghurair founded the Al Ghurair Group in 1960. Nasser Saidi, who is not from the Al Ghurair family, is the nonexecutive chairman of the board, and the rest of the board is comprised of family members. The group has a diversified portfolio in real estate, manufacturing, and finance. The BurJuman Centre in Bur Dubai is the group’s flagship property under its real estate portfolio. Its petrochemical business, Taghleef Industries, is among the largest global manufacturers of biaxially oriented polypropylene film, which is used in food packaging. The group is also involved in manufacturing metal through Al Ghurair Iron and Steel. The group’s investments include large stakes in Mashreq Bank and the National Cement Company.

10 Al Faisal Holding

• Chairman: Faisal Bin Qassim

Al Thani

Country: Qatar

Established in: 1964

Al Faisal Holding was established in 1964 as a small company trading in spare automotive parts. Today, the group has over 50 companies operating across eight sectors. The group’s hospitality arm, Al Rayyan Tourism Investment Company (ARTIC), has 35 hotels and projects in the Middle East, Africa, Europe, and North America. In January 2023, ARTIC and JW Marriott announced the completion of the first stage of the transformation of the JW Marriott Hotel Berlin. Al Faisal Holding’s chairman Al Thani had a net worth of $1.7 billion as of July 4, 2023.

11 Suhail Bahwan Group

• Chairman: Suhail Bahwan

Country: Oman

Established in: 1965

The Suhail Bahwan Group is a major producer of fertilizers, making over 1.3 million metric tonnes per annum of granular urea through SIUCI. It has 15 businesses and over 100 global brands across many sectors, including lifestyle, energy, IT, telecom, and healthcare. The group owns the Nissan dealership. The group’s chairman Suhail Bahwan had a net worth of $2.1 billion as of July 4, 2023. He also owns 14.75% of the National Bank of Oman’s shares.

12 Alshaya Group

• Executive Chairman:

Mohammed Alshaya

Country: Kuwait

Established in: 1890

Alshaya was founded in 1890 in Kuwait. Today, it is a multinational retail franchise operator of more than 60 global brands, including Mothercare, H&M, Starbucks, Boots, MAC, Harvey Nichols Kuwait, and Tekzone. Their brands have a presence all over the Middle East, North Africa, Türkiye, and Europe. The group employs more than 50,000 people. Alshaya has more than 4,000 stores globally, more than 100 ecommerce sites, and 30 distribution centers globally.

13 Power International Holding (PIH)

• Chairman; Vice Chairman and CEO: Moutaz Al Khayyat; Ramez

Al Khayyat

Country: Qatar Established in: 1983

PIH is a diversified business group operating in multiple sectors, including contracting, agriculture and food, real estate, and healthcare. It employs 65,000 people. In 2022, PIH supported the FIFA World Cup 2022 in Qatar by launching Al Maha Island and 11 international F&B brands. It also opened a hospital with 240 beds in affiliation with Cedars-Sinai and listed two of its subsidiaries: Baladna and Estithmar Holding. In June 2023, PIH signed an MoU with China International Capital Corporation and Baiterek National in Kazakhstan. The group plans to expand its operations in Saudi Arabia, Algeria, Maldives, Antigua, and the Seychelles.

14

AlNahla Group

• Chairman: Abdulrahman

Hassan Sharbatly

Country: Saudi Arabia

Established in: 1996

AlNahla Group is one of the oldest companies in Saudi Arabia. The group operates in investment, real estate, trading, automotive, and hospitality. Its investments span Saudi Arabia, the GCC, and Egypt. It owns 8.74% of Riyad Bank. In October 2022, the group’s Al Ameen Real Estate Company signed a hotel management agreement with Ennismore Arabia, a joint venture of Accor.

15 Juffali

• Chairman: Khaled Juffali

Country: Saudi Arabia

Established in: 1936

Jeddah-based Juffali is one of Saudi Arabia’s oldest and largest enterprises. Its core sectors include mobility, technology, engineering, and services. It has partnerships with international corporations such as Dow, Ericsson, IBM, Mercedes-Benz, and Siemens, among others. Juffali Commercial Vehicles is the sole agent and distributor of

16

DAMAC Group

• Founder & Chairman: Hussain Sajwani

Country: U.A.E.

Established in: 1982

The DAMAC Group was founded by Hussain Sajwani in 1982. It has a diverse portfolio across property, technology, retail and fashion, hospitality, and logistics, among other sectors. DAMAC Properties had delivered 43,700 units, with 30,000 underway as of June 2023. In 2022, DAMAC Group launched D-labs to invest $100 million to build cities in the Metaverse. In February 2023, it announced the launch of a 44-story tower, Canal Heights, and Emirates NBD arranged DAMAC’s unsecured sukuk worth $200 million. Sajwani has a net worth of $4.5 billion as of July 2023, according to Forbes.

17

Alfardan Group

• Chairman: Hussain Ibrahim Alfardan

Country: Qatar

Established in: 1954

Established by Hussain Ibrahim Alfardan in 1954, the Alfardan Group is one of the leading family conglomerates in Qatar, with a presence in the U.A.E, Saudi Arabia, Oman, Türkiye, and Switzerland. The group’s portfolio includes jewelry, financial services, property, automotive, hospitality, marine, agriculture, and medical services. In October 2022, Alfardan Group announced a partnership with Google Cloud to support the group’s digital transformation. As a participant in the United Nations Global Compact, Alfardan Group adheres to its principlesbased approach to sustainability.

18 AW Rostamani

Group

• Chairman and Group CEO:

Khalid Al Rostamani

Country: U.A.E.

Established in: 1954

Founded in 1954 in Dubai, AWR today employs 4,000 people and has a turnover of over $2 billion. It has a presence in the U.A.E., India, and the U.K. Its subsidiaries work across a diverse range of sectors, including automotive, real estate, retail, lighting solutions, travel, and logistics. Arabian Automobiles, an international business of AWR, is the exclusive distributor of Nissan, Infiniti, and Renault across Dubai and the Northern Emirates. In November 2022, the group expanded its strategic Nissan portfolio by acquiring nine sites of West Way in the U.K.

19 Alghanim Industries

• Executive Chairman: Kutyaba

Y. Alghanim

Country: Kuwait

Established in: 1932

Alghanim Industries was founded by Yusuf Alghanim in 1932. Today, his son Kutayba Alghanim leads operations in the Middle East, India, and Southeast Asia across various sectors, including retail and distribution, F&B, automotive, industrial, and services. The company employs over 13,000 people. It represents 300 global brands with more than 30 diversified businesses. In 2023, its subsidiary, Kirby Building Systems, inaugurated a new Kirby plant in Gujarat, India. In May 2023, the group partnered with Chinese manufacturer JAC Motors and inaugurated a JAC Alghanim showroom. Alghanim Industries also has a partnership with CODED Academy’s “Kuwait Codes” program.

20 Dallah Albaraka Holding

• Chairman: Abdullah Saleh Kamel

Country: Saudi Arabia

Established in: 1969

Saudi investment group Dallah Albaraka Holding was founded in 1969 in Jeddah. The company has grown into a diversified international conglomerate, operating across Asia, Africa, Europe, and North America and investing billions in over 40 countries. The group has interests in several sectors, including trade, real estate, finance, healthcare, transportation, maintenance, and operations. It also owns 54.7% of Al Baraka Banking Group.

21 O Capital Group

• Chairman: Othman Benjelloun

Country: Morocco

Established in: 2021

Established by billionaire founder and chairman Othman Benjelloun, O Capital Group has investments in a number of industries - banking, renewable energy, agriculture, logistics, transport, media, real estate, IT, telecoms, insurance, and financial services. The group is a strategic partner with Air Arabia Maroc, a co-shareholder and partner of Aman Resorts Group, and a major shareholder of The Bank of Africa. The organization employs 20,000 people in its many businesses. Othman Benjelloun & family had a net worth of $1.3 billion as of July 2023.

22 S.S. Lootah Group

• Chairman: Yahya Bin Saeed Al-Lootah

Country: U.A.E.

Established in: 1956

Founded more than 67 years ago by Saeed Bin Ahmed Al Lootah, S.S. Lootah operates businesses in construction, real estate, energy, food, hospitality, financial services, education, and healthcare, among other sectors. The group’s international operations fall under S.S. Lootah, with operations in Asia, Africa, and Europe.

23 Yousuf M.A. Naghi & Sons Group

• Chairman: Mohammed Yousuf

Naghi

Country: Saudi Arabia

Established in: 1911

Founded in 1911, when Jeddah was a small trading and fishing port, the Yousuf M.A. Naghi & Sons Group today operates across the automotive, FMCG, electronics, operation and maintenance, catering, and retail sectors. The group has four main businesses—Mohamed Yousuf Naghi & Brothers Group, Cigalah Group, Arabian Food Supplies, and United Yousef M.Naghi Co.—which are managed by the four sons of the founder: Mohamed, Yaser, Saleh, and Ammar.

24 The Zubair Corporation

• Chairman: Rashad bin

Mohammad Al Zubair

Country: Oman

Established in: 1967

The Zubair Corporation was founded by Mohammad Al Zubair in 1967 as Muscat Trading Company in the old souq in Muscat. Today, the company is led by his son Rashad Mohammad Al Zubair. It is a regional conglomerate with over 60 subsidiary companies spanning energy and natural resources, real estate, hospitality, financial investments, automotive, and IT, among other sectors. The company has partnerships with more than 300 local and global brands.

25 Cevital Group

• Chairman & CEO: Malik Rebrab

Country: Algeria

Established in: 1971

The Cevital Group is the largest private company in Algeria. It operates in food processing, mass distribution, domestic appliances, iron and steel, automobile, and media, among other sectors. The group was founded by billionaire Issad Rebrab, who had with his family a net worth of $4.6 billion as of July 2023. His son Malik Rebrab took over in July 2022.

26 Zahid Group

• Chairman: Waleed Yousuf Zahid

Country: Saudi Arabia

Established in: 1943

The Zahid Group was founded in 1943 by Mohamed Mahmoud Zahid to represent General Motors in Saudi Arabia. The group has over 30 companies across 14 sectors in 23 countries. In June 2023, its subsidiary Altaaqa Renewables announced the financial close for the development of a 119 MWp Photovoltaic Independent Power Plant in Wadi ad-Dawasir, along with TotalEnergies and Toyota Tsusho Corporation.

27 Saud Bahwan Group

• Chairman: Mohammed Saud Bahwan

Country: Oman

Established in: 1965

In 1965, the Saud Bahwan Group represented Toshiba, Akai, and Seiko in Oman. In the 1970s, it partnered with Toyota. Today, the group works in automotive, heavy vehicles, industrial equipment, and travel and tourism, among other sectors. It also represents brands, including Toyota, Lexus, Hino, Yokohama, Goodyear, Continental, Ford, Lincoln, Kia, Komatsu, Kato, and MAN.

28 Jarir Marketing Company

• Chairman: Muhammad Alagil

Country: Saudi Arabia

Established in: 1974

Founded in 1974 in Riyadh as a small bookshop, the Jarir Marketing Company sells stationery, office and school supplies, electronics, art supplies, and books in Saudi Arabia, Kuwait, Qatar, Bahrain, and the U.A.E. In March 2023, Jarir opened a bookstore in Sharjah. In June 2023, the King Abdullah University of Science and Technology signed a deal with Jarir for Investment to support one of their training programs in 2023 and 2024.

29 Mohamed & Obaid Almulla Group

• Chairman: Buti Obaid AlMulla

Country: U.A.E. Established in: 1942

The Mohamed & Obaid Almulla Group has businesses in the healthcare, hospitality, and real estate sectors. Its healthcare businesses include The American Hospital, Unimed, Monrol U.A.E., and Stay Well Pharmacies. Its real estate division built the Almulla Plaza and has a diverse portfolio of related services, including property management, building, and leasing. The group acquired Ishraq Hospitality in 2011 and currently operates six properties in Dubai.

30 Bait Al-Batterjee Holding

• Chairperson: Sobhi Abduljaleel

Batterjee

Country: Saudi Arabia

Established in: 1988

Bait Al-Batterjee Holding employs over 12,500 people and has more than 25 different companies and subsidiaries that focus on healthcare, education land holdings, private equity, construction, fitness, IT, and pharmaceuticals. It owns Saudi German Health, a publicly-listed company in Saudi Arabia, as well as privately-owned hospitals in the U.A.E., Egypt, Yemen, Morocco, and Pakistan.

31 Y. K. Almoayyed & Sons Group

• Chairman: Farouk Yousuf

Almoayyed Country: Bahrain

Established in: 1940

Yousuf Khalil Almoayyed opened his first shop selling everyday essentials in Manama, Bahrain, in 1930. In 1940, he founded Y.K. Almoayyed & Sons. Today, the group represents more than 300 brands and employs over 8,000 people. It has a diversified portfolio across automobiles, electronics, home appliances, heavy equipment, and industrial building systems, among others. The company deals with Nissan,

Ford, Infiniti, Lincoln, Renault, Komatsu, Continental Tires, Sony, Toshiba, and Honeywell. In 2023, the group partnered with major brands, including Panasonic, Hisense CAC, Nikai, Elf Lubricants, BKT Tires, and Krank Batteries, to be their official distributor in Bahrain.

32 Easa Saleh Al Gurg Group (ESAG)

• Chairperson and Managing

Director: Raja Easa Al Gurg

Country: U.A.E.

Established in: 1960

ESAG has been operational for over 60 years and has over 30 companies in its portfolio. Founder Easa Saleh Al Gurg’s daughter, Raja Easa Al Gurg, heads the company. It works with over 370 global brands across retail and lifestyle, building materials, real estate, industrial, consumer, and joint ventures. Some of the companies

ESAG represents are Interiors, Chattels & More, Better Life, Scientechnic, Al Gurg Living, and Gulf Metal Foundry. The group has joint ventures with AkzoNobel, Fosroc, Unilever, and Siemens, among others.

33 Ajlan & Bros Group

• Chairman: Ajlan Bin Abdulaziz

Alajlan

Country: Saudi Arabia

Established in: 1979

Ajlan & Bros Group was founded by four brothers, Ajlan, Saad, Mohammed, and Fahad, in 1979 as a small textile and fabric shop in Riyadh. Today, the group employs over 15,000 people in more than 25 countries. In line with Saudi Vision 2030, the company has invested in diverse sectors such as real estate development, energy, water, food, technology, logistics, hospitality, and operations. The group’s portfolio includes international brands such as Giorgio Rossi, Bugatti, Iceberg, and Puente Romano. In March 2023, Ajlan & Bros collaborated with Malaysia DNeX to establish a joint-venture company to revolutionize smart cities integration and IT projects in Saudi and across MENA.

34 Nesma Group

• President: Faisal Alturki

Country: Saudi Arabia

Established in: 1979

The Nesma Group operates through over 50 companies across Saudi Arabia, the U.A.E., Türkiye, and Egypt, including Nesma Infrastructure & Technology, Nesma United Industries, and Namma Cargo. The group has operations in construction, oil and gas, real estate, hospitality, shipping services, aviation, logistics, and IT, among other sectors. In February 2023, the group signed an MoU with a group of companies from Hong Kong to bring sustainable and zero-emissions public and cargo transportation solutions to Saudi Arabia. The group’s ongoing big projects in Saudi Arabia include the Red Sea Airport Project, South Jeddah Solar Power Project, and Makkah Bus Project.

35 Al Masaood Group

• Chairman: Masaood Ahmed

Al Masaood

Country: U.A.E.

Established in: 1970

The Al Masaood Group has a diversified portfolio of businesses headquartered in Abu Dhabi. The company operates across 18 different market segments, including automotive, industrial, business services retail, marine, and real estate. Some of the brands it has sole distribution rights for are

Nissan, INFINITI, Renault, and Bridgestone in Abu Dhabi, Al Ain, and the Western Region. It owns the Occidental Sharjah Grand Hotel, represents Truffleers, and is a partner of the Juventus Football Academy Abu Dhabi. In May 2023, the company launched a 100% electric waste truck in the U.A.E. with Renault Trucks Middle East and Tadweer. The company is diversifying into renewable energy with solar, solar charging, emission-less power generators and hydrogen.

36 Aujan Group Holding (AGH)

• Executive Chairman: Abdulla Aujan

Country: Saudi Arabia

Established in: 1905

AGH has ongoing operations across the Middle East and Africa in different industries, including FMCG, hospitality, real estate, and packaging materials. AGH, in a joint venture with the Minor Group, owns two island resorts in Mozambique under the Anantara brand. In July 2022, AGH and Minor Hotels launched the Anantara Downtown Dubai Hotel. The Aujan Coca-Cola Beverages Company is the authorized manufacturer and distributor of Rani and Barbican brands and the licensed manufacturer in the Middle East for Vimto.

37 Elsewedy Electric

• Group President & CEO: Ahmed

Elsewedy

Country: Egypt

Established in: 1938

Established by the Elsewedy family in 1938 as a trading business in electrical equipment in Cairo, today Elsewedy Electric is a global energy, digital, and infrastructure solutions provider with a worldwide presence in 110 markets, 48 international offices, and 31 production facilities. The company reported $3 billion in revenues in 2022, up 52.2% compared to 2021. The company is developing a 120,100-square-meter Egyptian Industrial Park in Tanzania at an estimated cost of $50 million. The Elsewedy Family owns 68.1% of the company, which had a market cap of $1.4 billion as of July 4, 2023.

41 Obeikan Investment Group (OIG)

• Group CEO: Abdallah Obeikan

Country: Saudi Arabia

Established in: 1982

Established in 1982 as a single commercial print shop, OIG today operates across many sectors, including packaging, digital, diversified investments, education and knowledge, and bookstores. OIG has an annual turnover of $1 billion, $1.6 billion in assets as well as 25 companies and 20 factories and offices in 16 countries. The group owns 43.83% of the Obeikan Glass Company, which recorded $133.9 million in revenues in 2022. In June 2023, OIG and European Lithium created an entity to support Saudi’s Vision 2030 in evolving the mining and the electric vehicles industries.

42 ALSAYER Holding

• Chairman: Faisal Bader Al-Sayer

Country: Kuwait

Established in: 1954

38 Al-Dabbagh Group (ADG)

• Chairman and CEO: Amr AlDabbagh

Country: Saudi Arabia

Established in: 1962

Founded in 1962 by Abdullah Al-Dabbagh, ADG has grown its operations from a single business into a portfolio of investment businesses, including in food, housing, mobility, packaging and retail, and startup incubation. The group has 84 subsidiaries and operations in 22 countries. It employs over 15,590 people. The group has companies including Dukan, Petromin, and Electromin under its umbrella as well as two listed companies, Tanmiah Food Company and Red Sea International, whose market caps amounted to $655 million and $211.2 million, respectively, as of July 4, 2023.

39 AlJammaz Group

• Chairman: Ibrahim Abdulaziz

AlJammaz

Country: Saudi Arabia

Established in: 1975

AlJammaz Group was established in Riyadh and operates in the agriculture and food sectors. The group comprises over 20 businesses operating over 700 branches and outlets, employing over 4,000 people.

It owns 57.1% of Alamar Foods and owns a dates factory that processes dates from AlJammaz Farms. It also distributes irrigation systems, fertilizers, seeds, and other agriculture-related products. And it is a partner in Derayah, a fintech, and D360, a digital bank. It invests in public and private equity in the Middle East, North Africa, Asia, Europe, and the U.S.

40 Mohammed Ibrahim Alsubeaei & Sons Investment Company (MASIC)

• Chairman: Ibrahim Mohammed

Alsubeaei

Country: Saudi Arabia

Established in: 2011

Diversified investment company MASIC was established to exclusively manage the assets of the family of the late Mohammed Alsubeaei. It manages a broad range of assets, with a primary focus on public equity, private equity, and real estate. MASIC’s public equity portfolio owns approximately 20% of Bank Albilad. In November 2022, MASIC started construction on Endowment Hotels in Mecca, covering a total built-up area of approximately 92,000 square meters. The project comprises two hotels consisting of 885 units, 570 rooms, and 315 serviced apartments.

ALSAYER Holding began as a foodstuffs business in 1954. A year later, it became Toyota’s representative in the Arab world. Today, the group covers 18 divisions across different sectors, including heavy equipment, transportation, industrial equipment, special vehicles and tools, financing, investment, real estate, insurance, and technology. The group is a distributor for Daewoo, Hino, and Ashok Leyland, among other world-renowned brands.

43 Abdullah AlOthaim Holding Company

• Chairman: Abdullah bin Saleh

Alothaim Country: Saudi Arabia

Established in: 1956

Abdullah AlOthaim Holding Company operates in different sectors including commercial, real estate, industrial, and investments. The group has 38 subsidiaries and investments in 17 companies with total investments of $6.5 billion and a workforce of more than 20,000 employees. The group owns 33.66% of Abdullah AlOthaim Markets Co. which has 323 branches throughout Saudi Arabia and 46 branches in Egypt. The group also owns Abdullah AlOthaim Investment Co., which manages 12 shopping malls and 70 entertainment centers in the GCC Countries and Egypt. The company is currently developing 23 integrated and mixed-use projects, including the expansion of six existing commercial complexes.

44 BoodaiCorp

• Chairman: Jassim Boodai

Country: Kuwait

Established in: 1954

Established as a trading company supplying equipment to the oil industry in Kuwait, today BoodaiCorp manages investments in trading, media, public transport, aviation, logistics, engineering, and construction. It employs more than 7,000 people. The group has investments in Jazeera Airways, Alrai Media, Alrai TV, Hilal Cement Company, and Atlas Commercial Company, among others. Jazeera Airways had a market cap of $1.4 billion as of July 4, 2023, and recorded $157 million in revenues in Q1 2023. In March 2023, Jazeera Airways announced that it was establishing a new air transportation company in Saudi Arabia, with plans to expand its fleet to 23 by the end of 2023.

45 Yusuf Bin Ahmed Kanoo Group (YBA Kanoo)

• Chairman: Khalid Mohamed Kanoo

Country: Bahrain

Established in: 1890

YBA Kanoo Group has businesses in shipping, logistics, travel, industrial, oil and gas, capital, and real estate and has a presence in the U.A.E., Oman, Saudi Arabia, and Bahrain. In August 2022, YBA Kanoo signed an agreement with TLScontact to inaugurate visa application centers in Saudi Arabia. Its financial investments arm, Kanoo Capital, was established in 2016 and had more than 30 joint ventures and 40 active investments in over 17 countries. The real estate arm of the group has more than 300 projects across three countries, including 172 residential properties and 277 commercial units in Bahrain.

46 Khalifa Juma Al Nabooda Group

• Chairman: Khalifa Juma Al Nabooda

Country: U.A.E.

Established in: 1963

The Khalifa Juma Al Nabooda Group is a conglomerate of more than 25 different companies across automobiles, real estate, hospitality, food services management, construction, civil and marine engineering, hotels, education, printing, equipment trading, and facilities management and consultancy. The group also owns the Dubai Printing Press, which was the first company in their portfolio. Al Nabooda Automobiles is the sole importer of Volkswagen, Porsche, and Audi in Dubai and the Northern Emirates. The group has recently added the automotive brand McLaren to its portfolio.

47 Manaseer Group

• Chairman: Ziad Al Manaseer

Country: Jordan

Established in: 1999

Chairman Ziad Al Manaseer established the Manaseer Group as a chemical and fertilizer distribution company in Jordan with 15 employees. Today, the group has operations in various industries, such as building materials, industrial minerals, life sciences, energy, and mobility. In June 2023, the group partnered with CH-AUTO to establish a joint venture to manufacture electric vehicles in Jordan.

48 ELARABY Group

• Chairman: Ibrahim Mahmoud

Elaraby

Country: Egypt

Established in: 1964

Established in 1964 as a family enterprise, today the ELARABY Group is one of the largest industrial and commercial conglomerates in the region. The group operates through 19 trading, industrial, medical, and service companies, with a workforce of more than 45,000 people. Its portfolio consists of 17 global brands with more than 4,000 variations. It exports its products to over 60 countries. In September 2022, the group announced a partnership with Taiwanese company Rechi to produce air conditioning compressors, with an investment value of $33 million.

49 Ghassan Aboud Group (GAG)

• Chairman: Ghassan Aboud

Country: U.A.E. Established in: 1994

GAG is an international organization involved in automotive, retail, FMCG, media, hospitality, logistics, healthcare, facilities management, catering, and the digital marketplace. Headquartered in the U.A.E., the company also has offices in Australia, Belgium, Türkiye, and Jordan. Some of its businesses include Grandiose Catering and supermarkets, Olive Country, and the Crystalbrook Collection of Hotels and Resorts. In 2023, The company joined forces with Halal Quality Control Group and introduced Halal certification solutions for U.A.E. companies producing and exporting Halal goods.

50 AlNowais Investments

• Chairman: Hussain AlNowais

Country: U.A.E.

Established in: 1979

AlNowais Investments operates across the Middle East, Asia, Europe, and Africa. It has activities in several sectors, including engineering, construction, healthcare, real estate, hospitality, oil and gas, and chemical industries, among others. Hussain AlNowais owns around 7.6% of Waha Capital Company and is the vice chairman of Abu Dhabi Commercial Bank. The family also owns a controlling stake in the Rotana hotel group.

51 Mohsin Haider Darwish

• Chairperson - ITICS;

Chairperson - ACERE: Lujaina & Areej Mohsin Haider Darwish

Country: Oman

Established in: 1974

Founded by Mohsin Haider Darwish in 1974, today MHD operates through two clusters. MHD ACERE has a diversified portfolio of products and services across the automotive, engineering, education, and renewable energy sectors, and is the sole distributor of Jaguar, Land Rover, McLaren, and Hongqi in Oman. MHDITICS’s brands include Samsung, Toshiba, Akai, and Huawei, with a workforce of over 350 employees in 25 locations across Oman, the U.A.E., and Qatar.

54 MAG Group

• Chairman: Moafaq Ahmed Al Gaddah

Country: U.A.E.

Established in: 1978

The MAG group operates across different sectors, including real estate, contracting and engineering, industrial and commercial trading, freight services, and hospitality. It employs more than 2,000 people worldwide across more than 50 companies and branches. MAG Property Development is the group’s real estate development arm. With 4,851 completed units and 3,367 under construction, the company’s projects are valued at more than $5 billion. In 2022, the company launched Keturah Reserve, a residential development that aims to immerse residents in nature through bio-living. MAG Property Development recorded $816.7 million in sales during Q1 2023.

52 Alkhorayef Group

• Chairman and CEO: Saad Alkhorayef

Country: Saudi Arabia

Established in: 1957

The Alkhorayef Group operates in farming solutions, water and power technologies, marine and diving, and oil and lubricants. The group’s subsidiary, Alkhorayef Petroleum, exports 80% of the products it manufactures. The group distributes global brands, including Volvo, John Deere, Castrol, Linde, Manroland, and Yamaha. In 2022, Alkhorayef Group signed a contract with the Royal Commission Yanbu to develop and operate ALJAR MARINA.

53 Crescent Group

• Chairman: Hamid Jafar

Country: U.A.E.

Established in: 1971

The Crescent Group has two core businesses: Crescent Petroleum and Crescent Enterprises. Crescent Petroleum has been operational for over 52 years and is one of the region’s oldest private oil and gas companies. Crescent Enterprises operates in ports and logistics, power and engineering, aviation, healthcare, real estate and construction, IT commerce, venture capital, and private equity. In 2023, Crescent Petroleum signed three contracts with Iraq’s Ministry of Oil to develop and produce oil and gas fields in Diyala and Basra.

55 AlOthman Holding

• Chairman: Mohammed Abdullah Al Othman

Country: Saudi Arabia

Established in: 1967

AlOthman Holding was founded in 1967 by Mohammed Abdullah Al-Othman. It has companies across oil and gas, steel manufacturing, petrochemical, food, IT, construction, engineering, environmental consultancy, and hospitality. Based out of Al Khobar, AlOthman has branches in 27 locations in Saudi and five international branches. It employs more than 5,500 people.

56 Tiger Group

• Chairman: Waleed Mohammad AlZoubi

Country: U.A.E.

Established in: 1976

Tiger Group operates in various sectors, including real estate, industrial production, contracting, commerce, travel, hotels, and education. Its primary focus is real estate, with over 200 projects totaling 23,000 units delivered. The group operates in the Persian Gulf, the Middle East, and Türkiye. The group also has 10 affiliations. The group’s major developments include Seslia Tower, Regina Tower, BlueWave Tower, and The Trio 2 Tower, with plans to develop 10 projects in 2023 worth $950 million. In March 2022, the group launched a new project, the Cloud Tower, in Dubai, with an investment value of $109 million.

57 Darwish Holding

• Chairman & Managing Director: Bader Al-Darwish

Country: Qatar

Established in: 1920

Darwish Holding was established as a trading store in the 1920s by brothers Abdullah, Kassem, and Abdulrahman Darwish. Today, the group has various divisions, including malls, retail, real estate, and technology. Its retail division features mono brands and Fifty One East, which offers cosmetics and jewelry from luxury brands such as CHANEL, Givenchy, Amouage, Elizabeth Arden, Lancôme, and Rolex. The group also owns Lagoona Mall. Darwish Tower is the group’s real estate landmark, with an investment value of over $400 million. Darwish Holding’s technology arm offers a portfolio of international brands, including Sony, Bang & Olufsen, Bose, and Yamaha.

58 Al Mulla Group

• CEO: Talal Anwar Al Mulla

Country: Kuwait

Established in: 1938

Founded by the late Abdulla Al Mulla, in 1938 the Al Mulla Group became the sole distributor of Chrysler, Dodge, and Plymouth automobiles in Kuwait. The group’s portfolio covers multiple sectors, including: automotive, engineering, financial services, trading and manufacturing, rental and leasing, healthcare, education, and real estate. In January 2023, the group extended its strategic partnership with INJAZ-Kuwait to support young Kuwaitis’ education. In July 2023, the group inaugurated the 113th branch of Al Mulla Exchange in Kuwait.

59 Saeed & Mohammed Al Naboodah Holding

• Chairman: Abdullah

Mohammed Juma Al Naboodah

Country: U.A.E.

Established in: 1958

Saeed & Mohammed Al Naboodah Holding was founded in 1958 by brothers Saeed and Mohammed Al Naboodah. Today, Saeed & Mohammed Al Naboodah Holding oversees the operation of two main subsidiaries: Al Naboodah Construction Group and Al Naboodah Commercial Group. It works with a number of global brands, including ABB, Air France, Air Canada, Ashok Leyland, Cathay Pacific, Goodyear, Harley-Davidson, and Peugeot.

60 Bukhamseen Group Holding Company

• Vice Chairman & CEO: Emad Jawad Bukhamseen

Country: Kuwait

Established in: 1957

Bukhamseen Group Holding Company was launched in 1957 by founder Jawad Ahmed Bukhamseen and run by his son Emad. The organization operates in real estate, construction, finance, banking, hospitality, travel, tourism, industrial productions, media and communication, and consultancies for urban planning and civil engineering. The Bukhamseen Group’s real estate division has eight companies.

61 Abunayyan Holding

• Chairman: Mohammad A. Abunayyan

Country: Saudi Arabia

Established in: 1950

Established in 1950 as an agricultural irrigation company, today, Abunayyan Holding provides multiple solutions for the water, power, and oil and gas industries. Through various business units, Abunayyan Holding also covers the engineering, manufacturing, supply, construction, and service industries across more than a dozen businesses in Saudi Arabia, the Middle East, and Africa.

62 Sumou Holding

• Chairman: Ayedh Al-Qahtani

Country: Saudi Arabia

Established in: 2008

Sumou Holding has investments in businesses in the real estate, logistics, construction, and investment sectors. In March 2023, the company acquired a 115,000-square-metre plot west of Riyadh valued at $187 million. It owns almost 63% of the Tadawul-listed Sumou Real Estate Company, which had a market cap of $526 million as of July 2023.

63 Talaat Moustafa Group Holding (TMG Holding)

• CEO and Managing Director: Hisham Talaat Moustafa

Country: Egypt

Established in: 1970s

TMG Holding develops large-scale integrated communities and tourism investment projects. The group has over 74 million square meters spread across Egypt. It developed Madinaty project, Noor City, Celia, and Al Rehab City, among others. The group owns 1,041 hotel rooms across four properties in Cairo, Sharm El Sheikh, and Alexandria, managed by Four Seasons and Kempinski. The group is currently expanding its portfolio, with an additional 940 rooms in three new hotel properties under construction in Madinaty, Luxor, and Marsa Alam. In July 2023, TMG Holding, through its hospitality arm ICON, submitted an offer to acquire a major stake with management rights in a portfolio of seven hotels in Cairo, Alexandria, Luxor, and Aswan in a deal valued at $700 million.

64 Safari Group

• Chairman: Saleh Al Sagri

Country: Saudi Arabia

Established in: 1984

Established as a travel agency by Saleh Al Sagri, today the Safari Group operates in nine sectors, including facility management, construction, travel and hospitality. It owns 10 businesses and employs more than 10,000 people. The company is currently working on renovating Jazan Airport and constructing King Abdullah Jazan New Airport. In June 2022, the group signed three contracts with King Fahd Causeway Authority for the inspection, maintenance, and cleanliness of sites in Saudi Arabia and Bahrain Through its telecom arm, the group is also authorized to sell Mobily products and runs over 100 Mobily outlets in Saudi Arabia.

65 Gmg

• Deputy Chairman and CEO: Mohammad A. Baker

Country: U.A.E.

Established in: 1977

GMG began operations in 1977 as a small butchery selling western meat, fish, and cold cuts. Today, the conglomerate has businesses in health, beauty, everyday goods, sports, logistics, and property, with stores across MENA, Malaysia, Hong Kong, and Indonesia. In May 2023, the company opened its first store for its homegrown brand Sun & Sand Sports (SSS) in Singapore. GMG plans to open 11 SSS stores across Southeast Asia, including Singapore and Malaysia, over the next three years.

66 Sayegh Group

• Chairman: Micheal Sayegh

Country: Jordan

Established in: 1932

The Sayegh Group began operations in 1932. Today, the conglomerate has companies and investments across the Middle East, Europe, and Asia. The group’s core business covers industrial and logistics, educational, medical, media broadcasting, and banking across over 35 companies.

67 Hayel Saeed Anam Group (HSA Group)

• Chair and CEO: Abdul Gabbar Hayel Saeed

Country: U.A.E. Established in: 1938

The HSA Group was founded in 1938 by four brothers from the Saeed Anam family. Today, it employs 35,000 people across 70 companies and 80 markets in South Asia, Europe, the Middle East, and Africa. The group’s core activities are in manufacturing edible oils, dairy products, biscuits, confectionery, flour milling, sugar refining, cartons, printing and packaging, and cement production. HSA expanded outside its native Yemen and set up manufacturing plants in Saudi Arabia, Egypt, Malaysia, Indonesia,

Kenya, and Nigeria. In 2019 and 2020, the company established its first industrial plants in Ghana, Angola, and Senegal.

68 BinDawood Holding Company

• Chairman: Abdulrazzaq Dawood

BinDawood

Country: Saudi Arabia

Established in: 2011

The BinDawood Holding Company has two key retail chains, BinDawood and Danube, which together employ over 10,000 people. The first BinDawood superstore was opened in Makkah in 1984 by the BinDawood family, which is the founder and majority shareholder of BinDawood Holding. It has 85 hypermarkets, supermarkets, and express stores across major cities in Saudi Arabia and Bahrain. In 2022, it opened its first international store in Bahrain and acquired an 86.53% stake in Ykone, an influencer marketing agency and a subsidiary of TF1 Group, through its subsidiary Future Technology Retail.

69 Almana Group

• Chairman: Hamad Mohammed

Hamad Al Mana

Country: Qatar Established in: 1960

The Almana Group started as a trading house in 1960 and has since expanded into automotive distribution and services, real estate, investments, retail, F&B, engineering, technology, media, and entertainment. Almana Group’s automotive division represents some of the world’s leading brands, including Ford, Jeep, Chrysler, and Dodge.

70 Mouawad

• Co-Guardians: Fred, Alain and Pascal Mouawad

Country: U.A.E.

Established in: 1890

Founded by the Mouawad family in 1890, today Mouawad operates regionally in Lebanon, Qatar, the U.A.E., Bahrain, and Saudi Arabia, and internationally in Hong Kong and the U.K. In December 2022, the Miss Universe Organization unveiled “The Crown Number 12: Force for Good,” crafted by Mouawad. The new crown features pear-shaped blue sapphires surrounded by diamonds and is valued at approximately $5.75 million. The company today is led by the fourth-generation co-guardians and brothers Fred, Alain, and Pascal Mouawad. Billionaire Robert Mouawad had a net worth of $1.5 billion as of July 2023, according to Forbes.

71 Al Faisaliah Group (AFG)

• Group President: Mohammed

K.A. Al Faisal

Country: Saudi Arabia

Established in: 1971

Founded in 1971, AFG has operations across the Middle East and across different sectors including dairy, electronics, healthcare, and food service. The group has strategic partnerships with local and global firms including Sony, Danone, Philips, and Accenture. Al Safi Danone (ASD) is a joint venture between Al Faisaliah Group Al Safi Dairy Company and Groupe Danone of France. ASD supplies dairy products to more than 32,000 retailers in 12 countries across the region. In 2023, AFG was one of the anchor investors in Jamjoom Pharma’s IPO.

72 Hassan Allam Holding

• Co-CEOs: Hassan Allam and Amr Allam

Country: Egypt

Established in: 1936

Founded in 1936 by Hassan Allam, today Hassan Allam Holding has operations in engineering, construction, investment, and development. The group operates in diverse sectors in Egypt and the MEA region. The group has 18 subsidiaries across eight countries and a backlog worth over $5.5 billion in 2022. The group employs more than 45,000 people and has a portfolio spanning solar power, water, petrochemical facilities, museums, airports, roads, and bridges across the region. In June 2023, Hassan Allam Utilities, in partnership with Masdar and Infinity Power Holding, signed an agreement with Egypt’s New and Renewable Energy Authority to secure land to develop a 10 GW onshore wind farm in Egypt.

73 Al Qahtani Holding

• Chairman: Abdulaziz

Al-Qahtani

Country: Saudi Arabia

Established in: 1948

Al Qahtani Holding was established in Saudi Arabia in 1948 by the late Sheikh Abdulhadi Abdullah Al Qahtani. The group has since diversified into various sectors, including beverage production and distribution, manufacturing, oil and gas, mining, and real estate. Al Qahtani Holding’s portfolio of brands includes joint ventures with CemServ, Central Mining

Holding, PepsiCo Jordan, and Al Qahtani Beverages. In December 2022, Maersk signed an agreement with Al Qahtani Holdings’ Refad Real Estate to operate a new cold storage facility at King Abdulaziz Port in Dammam.

74 Jamjoom Pharma

• Chairman: Mahmoud Yousuf

Salah Jamjoom

Country: Saudi Arabia

Established in: 1994

Jamjoom Pharma began its manufacturing and sales operations in 2000. The company’s main operating production facility is a 46,500-squaremeter manufacturing plant in Jeddah with a production capacity of 113 million units per year. In May 2023, the company set the final offer price for its IPO on the Saudi stock exchange at $16 per share to raise $336 million.

75 Khansaheb

• Chairman: Tariq Khansaheb

Country: U.A.E. Established in: 1935

Khansaheb is a construction and facilities management company and the longest-standing contractor in the country. The company provides sustainable solutions for building and infrastructure projects, creating and maintaining physical assets across construction, infrastructure, interiors, facilities management, architectural and structural metal works, building services, property services, joinery, building products, and wastewater treatment industries. It employs 4,500 operatives and 1,000 staff in its construction division alone.

76 Abdulla Yousif Fakhro Group

• Chairman: Esam Fakhro

Country: Bahrain

Established in: 1888

The Abdulla Yousif Fakhro Group began operations in 1888 in Bahrain. Today the organization has businesses across the automotive, industrial products, electronics, telecommunications, insurance, contracting, shipping, and logistics industries. It has partnerships with Dunlop, Mobil, Omia, and McDonald’s. The organization has a presence in Bahrain, the U.A.E., and Qatar.

77 Oasis Investment Company (Al Shirawi Group)

• Chairman: Mohamed Al Shirawi

Country: U.A.E. Established in: 1971

Oasis Investment Company is the holding company of the Al Shirawi Group. The group began operations in 1971 and today has major companies across the manufacturing, engineering, trading, marketing, distribution, contracting, and service industries. It works with more than 100 multinational groups for technical licensing, distribution, servicing, and trade representation.

78 Al Khayyat Investments (AKI)

• Managing Director: Zaid S. Al Khayyat

Country: U.A.E. Established in: 1982

AKI was founded in 1982 by Saad F. Al Khayyat, licensed under Alphamed General Trading. Today, the group operates through three main companies: BinSina Pharmacy, AKI Pharma, and AKI

80 Memaar Al Morshedy

• Founder: Mohamed Morshedy

Country: Egypt

Established in: 1983

Founded by Mohamed Morshedy in 1983, Memaar Al Morshedy has built over 1,100 buildings, 156 complexes, 26 malls, 18 nurseries, 14 mosques, 11 schools, six medical clinics, and two hospitals. As of 2022, the company had total assets worth $6 billion in Egypt, consisting of 14 residential, commercial, and administrative mega-projects. In 2022, the company entered the education sector by launching Al Hayah University, which expects to cater to 5,000 students. Other projects include Kattameya Gate, Degla Landmark, Bavaria Town, and One Kattameya.

81 Chalhoub Group

• Group President: Patrick Chalhoub

MedLab. In 2022, AKI Pharma expanded its portfolio to cover more diverse therapy areas, including gene therapy, biosimilars, oncology, and specialty, as well as rare and ultra-rare diseases. It also expanded BinSina Pharmacy in Oman and relaunched its mobile app. The group partners with patient support providers such as AXIOS and IQVIA.

79 Alzayani Investments

• Chairman: Nawaf Khalid Al Zayani

Country: Bahrain

Established in: 1977

Alzayani Investments was established in 1977 by Hamid Rashid Al Zayani. Its business portfolio spans diverse sectors, including automotive, healthcare, manufacturing, real estate, service businesses, and F&B. The group’s joint venture with Closure Systems International and Gulf Closures is one of the biggest suppliers of Coca-Cola and Pepsi bottle caps in the Middle East and the Indian Subcontinent. In May 2023, the company’s F&B arm, Zayani Foods, launched its twentieth branch of Costa Coffee in Bahrain.

Country: U.A.E. Established in: 1955 Chalhoub Group was established in Syria in 1955. The group moved operations to the U.A.E. in 1990. The luxury retailer has backed its distribution and marketing services with a portfolio of brands in beauty, fashion, watches, eyewear, and jewelry. It has also owned many in-house brands, such as Level Shoes, Tyrano, Faces, Tanagra, Christofle, and Ghawali. In May 2023, the group received an operating license to build and manage a facility at Riyadh Integrated, Saudi Arabia’s first integrated logistics zone, which is set to open in 2025.

82 Naif Alrajhi Investment Group

• Chairman and CEO: Naif Saleh Alrajhi

Country: Saudi Arabia

Established in: 2012

Naif Al Rajhi Investment is headquartered in Riyadh, with a presence in the U.A.E., the U.K., Italy, and Morocco. The group works with companies in 11 different sectors, including real estate, hospitality, F&B, mining, contracting, interior design solutions, financial markets, marketing, and logistics. In February 2023, Naif Alrajhi Investment launched Ramla Terraza, an upscale destination in Riyadh, in collaboration with the General Entertainment Authority. In May 2023, the group entered into a strategic partnership agreement with Tatweer Misr to develop integrated urban projects and tourist resorts in Saudi Arabia.

83 Tamer Group

• Group Chairman: Ayman Tamer

Country: Saudi Arabia

Established in: 1922

Tamer Group was founded in 1922 in Saudi Arabia by Mohammed Said Tamer as the first pharmacy in Saudi Arabia. Today, it is a leading healthcare and wellness group operating across MENA. The group employs over 4,000 people in different sectors, including healthcare supply, healthcare manufacturing, consumer care, logistics, e-commerce, and IT solutions. In March 2023, Tamer Logistics signed an agreement with Johnson & Johnson MedTech to become its thirdparty logistics provider in Saudi Arabia.

84 Gargash Group

• Chairman: Samir M. Gargash

Country: U.A.E.

Established in: 1918

Having been established in 1918, Gargash Group has holdings in automotive, real estate, and investments. The company has introduced international automotive brands into the U.A.E., such as MercedesBenz, Alfa Romeo, GAC MOTOR, and SIXT Rent a Car, in addition to presenting an industrial line of lubricants, construction equipment, and power systems. The group’s investment sector has been operating since 1998 and provides financial services. In 2022, the group announced a new partnership between Gargash Motors & General Trading and KCP Heavy Industries.

85 Oriental Weavers Group

• Chairwoman: Yasmine and Farida Khamis

Country: Egypt

Established in: 1979

Founded in 1979 by Mohammed Farid Khamis and listed on the Egyptian Stock Exchange since 1997, Oriental Weavers Group is one of the largest producers of machine-woven carpets in the world. The group exports to more than 130 countries. The group’s portfolio includes textile, petrochemicals, education, real estate, and agriculture businesses. In December 2022, Farida and Yasmine transferred their combined 24.61% stake in Oriental Weavers Carpet to London-based FYK Limited, which is fully owned by the two sisters. The company reported $134 million in revenues and total assets of $717 million in Q1 2023. It had a market cap of $318.6 million as of July 4, 2023.

86 Alturki Holding

• Chairman: Khalid Ali Alturki

Country: Saudi Arabia

Established in: 1975

Alturki Holding’s portfolio covers the construction and building materials, infrastructure, real estate, transportation, oil field tools and services, and information and communication technologies sectors. The company is focusing on economic diversification and societal development, launching the Hemmah Alturki Talent Development Program as a part of its sustainable legacy. In May 2023, Musanadah, a subsidiary of Alturki Holding, opened its new Leading, Education, and Development (LEAD) training centers in Al Khobar and Riyadh.

87 Holmarcom Group

• Chairman and CEO: Mohamed Hassan Bensalah

Country: Morocco

Established in: 1978

Holmarcom Group was founded by Abdelkader Bensalah. With a presence in six African countries, including Morocco,

Senegal, Ivory Coast, Benin, Burkina Faso, and Kenya, the group’s businesses cover finance, agro-industry, logistics, and real estate. It has three companies listed on the Casablanca Stock Exchange: Les Eaux Minérales d’Oulmès, AtlantaSanad Assurance, and Crédit du Maroc. In December 2022, the group finalized a deal to acquire a 78% stake in Credit Agricole.

88 GB Corp

• CEO: Nader Ghabbour

Country: Egypt

Established in: 1940s

Sadek and Kamal Ghabbour began a family-run trading business in the 1940s in Egypt. In January 2023, GB Auto Group rebranded to GB Corp, which provides its services through two main entities: GB Auto and GB Capital. With over 25 brands in its portfolio, the group reported $963 million in sales and a net profit of $341 million in 2022. In 2022, the company signed an agreement with Chimera to sell 45% of GB Lease. In February 2023, the company’s subsidiary, MNT-Halan, announced an equity investment of $200 million from Chimera Abu Dhabi in exchange for over 20% of the company. GB Corp’s market cap was $223 million as of July 4, 2023.

89 Bin Hamoodah Company

• Chairman: Faraj Ali Bin

Hamoodah

Country: U.A.E.

Established in: 1967

The Bin Hamoodah Company is the holding company of the Bin Hamoodah family, with 25 subsidiaries across automotive, oil and gas, contracting, commercial, engineering, property development and management, financial services, agricultural, manufacturing, and IT. Founded in 1967, the group was reorganized in 2008 and today has three companies: Faraj Bin Hamoodah Holding, Hamoodah Sons Holding, and Ghanem Ali Bin Hamoodah & Sons LLC. It employs over 15,000 people. The group is the authorized dealer of Chevrolet and GMC in Abu Dhabi and has partnerships with IBM, ABB, Siemens, Baker Hughes, Weatherford, FMC, and 3M. It has also established its own brands, including Milco (dairy), Lacnor (juices), and Oasis (water).

90 Alsulaiman Group (ASG)

• Chairman: Ghassan Alsulaiman

Country: Saudi Arabia

Established in: 1983

ASG was established by Ghassan Ahmed Alsulaiman in 1983 in Saudi Arabia. The group owns, operates, and invests in companies across the retail and logistics sectors. It started with the Swedish home furnishing company IKEA. Today, ASG’s companies include IKEA Saudi Arabia and Bahrain, Flow Progressive Logistics, Salasa, Ehteraf Real Estate Development, Livspace, and Cartlow. In January 2023, the group acquired exclusive franchise rights for Circle K convenience stores in Saudi Arabia.

91 Albwardy Investment

• Chairman: Ali Saeed Juma

Albwardy

Country: U.A.E.

Established in: 1976

Albwardy Investment was founded in the mid-1970s in the U.A.E. by Ali Saeed Juma Albwardy. Today, the company has a presence in over 20 countries and a combined workforce of over 10,000 people. It operates across food, distribution and retail, construction, shipyards, hospitality, and hotel ownership. The organization has an annual turnover over $1 billion.

92 Diana Holding

• Chairman & CEO: Rita Maria Zniber

Country: Morocco

Established in: 1956

Established in 1956 by Brahim Zniber as an agro-industrial company, today Diana Holding has 8,300 hectares of land under its management and employs over 7,200 people. Its olive-growing division covers 1,000 hectares with a storage capacity of 3,500 tons. In November 2022, the Equatorial Coca-Cola Bottling Company acquired the Atlas Bottling Company.

93 Abu Ghazaleh Investments (AGI)

• Chairman and Founder: Amir Abu Ghazaleh

Country: U.A.E.

Established in: 1970

AGI is a family-owned investment company. It has a diverse global portfolio with interests in fresh produce, healthcare, sport, aviation, real estate, hospitality, manufacturing, technology, and insurance. The brands represented by AGI in the region include DelMonte, Clemenceau Medical Centre, International Wings Group, CF Tennis Academy, Form Hotel, and Oryx Ventures.

94 Seddiqi Holding

• Chairman: Abdul Hamied Seddiqi

Country: U.A.E.

Established in: 2007

Seddiqi Holding operates a diverse range of businesses, including Ahmed Seddiqi & Sons, Swiss Watch Services, Mizzen, and Seddiqi & Sons Investments, which includes Seddiqi Properties. Mizzen focuses on luxury consumer brands in fashion, beauty, eyewear, leather goods, and fashion accessories. Its portfolio includes Aēsop, Orlebar Brown, and Gentle Monster. Ahmed Seddiqi & Sons represent more than 80 luxury watch and jewelry brands across over 50 locations in the U.A.E., including Rolex, TUDOR, Patek Phillipe, Oris, and TAG Heuer.

95 Towell Group

• Vice Chairman & Managing

Director: Imad Kamal Sultan

Country: Oman

Established in: 1866

Towell Group was founded by William Jack Towell in Oman to sell U.S.-produced Kerosene and shipping materials. In 1914, Mohamed Fadhel acquired the company. Today, the group focuses on engineering and construction, property and real estate, FMCG, automotive, and services and trade. The group has a presence in Oman, the U.A.E., Qatar, India, and the Netherlands. Towell Auto Centre has been operating since 1972. Today, it has eight showrooms and nine service centers and works with brands, including Mazda, Geely, JAC Motors, and HIGER BUS.

96 Abu Issa Holding

• Chairman and CEO:

Ashraf Abu Issa

Country: Qatar

Established in: 1981

Abu Issa Holding launched its first concept, Blue Salon, in 1981. Today, the group operates in nine countries and across 11 sectors, including retail, distribution, telecommunications, IT, energy and engineering, construction support services, investment, real estate, and marketing. In 2022, the group opened a flagship store for EX NIHILO PARIS in Qatar.

97 Ali Bin Ali Holding (ABA Holding)

• Chairman & President :

Adel Ali Bin Ali

Country: Qatar

Established in: 1945

ABA Holding started importing international products to Qatar in 1945. Today, it is one of the country’s largest retail and distribution companies, with a presence in Qatar, Saudi Arabia, Kuwait, and Europe. It employs about 5,000 people and has over 400 brands. The company operates in sectors such as fashion, property management, hospitality, luxury, lifestyle, manufacturing, medical, and IT. The company owns Monoprix, Monop in Qatar, and the 21 High St shopping venue. It also owns a production facility for plastic bottles and operates a water treatment unit and a separate factory for bottling and packaging.

98 Tamimi Group

• Chairman: Tariq Al Tamimi

Country: Saudi Arabia

Established in: 1940

Tamimi Group was founded by the late Ali bin Abdullah Al-Tamimi for pipeline installation, general contracting, and related works. Today, the group has over 30 companies and 10 joint ventures across different sectors, including construction, contracting, trade, industry, catering, maintenance, operations, and retail. Tamimi Markets, the group’s retail chain, operates over 100 stores and five distribution centers in Saudi Arabia. In June 2023, PIF agreed to become a shareholder in Tamimi Markets with 30% ownership.

99 MM Group for Industry and International Trade (MTI)

• CEO : Khaled Mahmoud

Country: Egypt

Established in: 1895

MTI is listed on the Egyptian Exchange and is one of Egypt’s largest distribution companies, with access to over

40,000 points of sale. MTI operates in various segments, including consumer electronics, telecommunication, automotive, and tractors, through partnerships with leading global brands, including Samsung, Vodafone, Huawei, Range Rover, Jaguar, Maserati, Bentley, Carrier, and Bosch. Mohamed Mahmoud’s family owns over 69.7% of the company, which had a market cap of over $211 million as of July 19, 2023.

100 Almuftah Group

• Chairman: Abdulrehman Muftah

Almuftah

Country: Qatar

Established in: 1963

The Almuftah Group started selling gramophone records in 1963, then set up a tire showroom in 1968. Today, it has over 30 companies and employs 6,000 people across engineering and construction, travel, education, industrial equipment, automotive, restaurants and catering, consumer electronics, wellness, and trading, among other sectors. Almuftah Audio Visual is the sole authorized distributor of SHARP products in Qatar. Altadamon Motors and Trading is the authorized sub-dealer of Toyota and Lexus vehicles. The group established the English Modern School in 1991.