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- Saudi's Olayan Group tops the ranking for the first time.
- Companies based in Saudi Arabia and the U.A.E. make up over 60% of the ranking.
- 87% of the 100 family firms are diversified, with operations in multiple sectors.
Dubai: Forbes Middle East has unveiled its annual ranking of the Top 100 Arab Family Businesses for 2021, celebrating some of the Middle East's longest-standing business success stories. The list recognizes many companies that have helped shape the region and handed down their legacies through generations.
Among the 100 listees, those headquartered in Saudi Arabia lead (36), followed by the U.A.E. (25) and Kuwait (7). Saudi's diversified Olayan Group leads the pack at the top spot. First founded by Suliman Olayan as a contracting and trading company, the conglomerate today has a diverse commercial, industrial, and investment portfolio. Egypt's Mansour Group and U.A.E.-based Majid Al Futtaim round up the top three.
Diversified business corporations – groups that invest in various sectors and geographies – dominate the ranking with 87 entries. Saudi-headquartered Assila Investments is the only non-diversified group in the top 10. Assila Investments is also the ranking's youngest business alongside MASIC, both of which were founded in 2010. In comparison, Oman's WJ Towell & Co. stands as the oldest family firm, established in 1866.
Of the top 100 family-run companies in 2021, 32 are still chaired by the original founders or cofounders, and only three are headed by women: Mohsin Haider Darwish, headed by Areej and Lujaina Darwish; the Olayan Group, run by Hutham Olayan; and the Orientals Group, chaired by Yasmine Khamis.
To formulate this list, Forbes Middle East only considered businesses or holding companies that are jointly-owned or run by family members. Only Arab families were considered for the list. Listed companies were not considered to be family-owned businesses, but as investments of the family holding groups. We collected information from stock exchanges, reports from consulting firms and universities, and other primary sources. The ranking measured the company's holding size and performance, age, legacy and how diversified the business is in terms of sector and geography.
Top 100 Arab Family Businesses in the Middle East 2021
1 | Olayan Group
Country: Saudi Arabia
Established: 1947
Sector: Diversified
2 | Mansour Group
Country: Egypt
Established: 1952
Sector: Diversified
3 | Majid Al Futtaim
Country: U.A.E.
Established: 1992
Sector: Diversified
4 | Al-Ghurair Investment
Country: U.A.E.
Established: 1960
Sector: Diversified
5 | Al-Futtaim Group
Country: U.A.E.
Established: 1930
Sector: Diversified
6 | Al Muhaidib Group
Country: Saudi Arabia
Established: 1943
Sector: Diversified
7 | Rashed Abdul Rahman Al Rashed & Sons Group
Country: Saudi Arabia
Established: 1950
Sector: Diversified
8 | Abdul Latif Jameel
Country: Saudi Arabia
Established: 1945
Sector: Diversified
9 | Assila Investments
Country: Saudi Arabia
Established: 2010
Sector: Investments
10 | Al Ghurair Group
Country: U.A.E.
Established: 1960
Sector: Diversified
Click here to view the complete list of the Top 100 Arab Family Businesses 2021.
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About Forbes Middle East
Forbes Middle East is a licensee of Forbes Media and extends the Forbes brand of journalism across the Arab world. Forbes Middle East's distinctive editorial style attracts a readership of Arab leaders, entrepreneurs, C-level executives, government officials, and investors united by a belief in the spirit of free enterprise and entrepreneurial values.
Across the region, Forbes Middle East sets the pace for preemptive business journalism. By uncovering trends and anticipating opportunities in the regional marketplace, each monthly issue brings top executives the information critical to their success – in both Arabic and English language editions. The magazine researches and publishes original rankings based on methodologies set by Forbes Media. For more information, please visit www.forbesmiddleeast.com or follow us social on Facebook, Twitter, and LinkedIn.
Media Contact
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Hersi@forbesmiddleeast.com
© Press Release 2021
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