The Forbes Middle East has released its ‘Top 50 Real Estate Developers In Mena 2021’ list, which features companies that have delivered some of the most significant projects in the region this year.
Based on financials, reputation, the company’s age, the value of projects completed and under construction, as well as the size of the land bank and units held by the company, the list was developed. The list does not include developers whose projects are not yet functioning, as it only includes developers who have delivered their projects.
Emaar Properties, based in the UAE, topped the list with assets valued at $34 billion as of September 2021. Emaar Properties is one of the largest publicly-listed real estate companies in the Gulf Cooperation Council.
Aldar Properties of Abu Dhabi placed second, with total assets of $11.3 billion as of September 2021. In December 2021, an Aldar-ADQ consortium acquired 85.5 percent of SODIC for $388 million. Egyptian mixed-use developer SODIC ranked 36th on the list.
Nine countries are represented on this list of developers. With 17 companies on the list, the UAE has the most, four of which are in the top five, while 11 are headquartered in Saudi Arabia, followed by seven in Egypt, six in Kuwait, three in Qatar, two each in Oman and Morocco, and one each in Bahrain and Jordan.
Forbes Middle East has also released a ranking of the “Top 10 Construction Companies in Mena 2021” in recognition of the best construction companies in the region. The companies were selected based on the value of completed and under-construction projects, their number of employees, and their age.