Forbes Middle East has revealed its ‘Most Impactful Real Estate Leaders’ ranking, spotlighting the 100 innovation-driven regional developers building for the future. The ranking was developed based on the company’s financials, the value of projects completed, projects under construction, the reputation of project delivery, and the size of the landbank and units held by the developer.
Mohamed Alabbar, Founder and Managing Director of Emaar Properties in the U.A.E. topped the list, with total assets of $37.3 billion as of the end of September 2023. Emaar Properties is one of the largest publicly-listed real estate companies by assets in the GCC. Talal Al Dhiyebi, Group CEO of Abu Dhabi-based Aldar Properties placed second, with $19.3 billion total assets as of September 2023. NEOM CEO Nadhmi Al-Nasr rounded up the top three.
The developers featured on this list represent nine countries in the region. The U.A.E. leads with 33 companies on the list, six of which are in the top 10. 23 are headquartered in Saudi Arabia, followed by 20 in Egypt.
Operating for over 118 years, Egypt’s Heliopolis Company for Housing and Development is the oldest entry. Founded in 1906, CEO and Managing Director Sameh El Said was appointed to his current position in August 2023. In the first nine months of 2023, the company recorded total assets worth $146.7 million and revenues worth $12.9 million. In contrast, Bahrain’s Infracorp, led by CEO Majed Abdulla Al Khan, is the youngest listee established in 2022. It amassed $26.9 million in net profits and had total assets of $1.6 billion, by the end of September 2023.
| Top 100 Most Impactful Real Estate Developers In The Middle East 2024: Country Breakdown | |||||
| U.A.E. | 33 | Kuwait | 7 | Oman | 3 |
| Saudi Arabia | 23 | Qatar | 6 | Jordan | 2 |
| Egypt | 20 | Bahrain | 4 | Morocco | 2 |
Top 10 Most Impactful Real Estate Leaders In The Middle East 2024
1 | Mohamed Alabbar
Founder & Managing Director, Emaar Properties
Country: U.A.E.
Established: 1997
2 | Talal Al Dhiyebi
Group CEO, Aldar Properties
Country: U.A.E.
Established: 2005
3 | Nadhmi Al-Nasr
CEO, NEOM
Country: Saudi Arabia
Established: 2019
4 | Hesham Al Qassim
CEO, Wasl
Country: U.A.E.
Established: 2008
5 | Abdullah bin Hamad Al Attiyah
CEO, Qatari Diar
Country: Qatar
Established: 2005
6 | Hussain Sajwani
Founder & Chairman, DAMAC Properties
Country: U.A.E.
Established: 2002
7 | David Grover
Group CEO, ROSHN Group
Country: Saudi Arabia
Established: 2020
8 | Naaman Atallah
Group CEO, Nakheel
Country: U.A.E.
Established: 2001
9 | Hisham Talaat Moustafa
CEO & Managing Director, Talaat Moustafa Group Holding
Country: Egypt
Established: 1970
10 | P.N.C. Menon
Founder & Chairman, Sobha Realty
Country: U.A.E.
Established: 1976
Click here to view the complete list of The Middle East’s Most Impactful Real Estate Leaders 2024.
