Sri Krishna
Forbes Middle East has recently unveiled its 2024 compilation of the Top 100 Arab Family Businesses, showcasing a remarkable majority of over 60% of primary stakeholders from these businesses listed on regional stock exchanges. Noteworthy is Qatar’s impressive representation, with 8 family enterprises securing a place on this esteemed roster.
The Qatar-based companies that have merited inclusion are as follows:
| Company Name | Rank |
|---|---|
| Al Faisal Holding | 10 |
| Power International Holding (PIH) | 13 |
| Alfardan Group | 17 |
| Darwish Holding | 57 |
| Almana Group | 69 |
| Abu Issa Holding | 96 |
| Ali Bin Ali Holding (ABA Holding) | 97 |
| Almuftah Group | 100 |
This list is underpinned by a notable Saudi Arabian presence, boasting 33 entries, with the United Arab Emirates following closely with 29 entries. Egypt and Qatar each contribute 8 entries, further enhancing the diverse makeup of the roster.
Forbes Middle East underlines that many of the featured family businesses hold a prominent status as founding shareholders. The assessment draws from diverse sources including stock exchanges, consultancy reports, and other primary references. The ranking process encompasses various facets, such as:
- Business Magnitude: Incorporating factors like business size, asset value, encompassing listed entities, real estate and hospitality assets, and revenues from alternate holdings.
- Recent Business Activity: Encompassing IPOs, initiation of new projects, and fresh investments over the past year.
- Diversification: Assessing the extent of sectoral and geographical diversification.
- Operational Performance: Evaluating the performance of key businesses and sectors of operation.
- Legacy and Duration: Taking into account the age and historical significance of the enterprise.
- Workforce: Considering the total number of employees associated with the business.
The report also highlights insights from a 2024 study by PwC, revealing that only a mere 11% of family businesses have embraced specific environmental impact goals. Moreover, a modest 38% regularly communicate their performance against non-financial benchmarks. Forbes Middle East underscores that a substantial portion of these businesses remain steadfastly aligned with traditional business models, choosing to abstain from heavy involvement in the tech sector.
Please Subscribe Us to get updated with Qatar News, Saudi News, Kuwait News, Health News, UAE News, Iqama, Visa, Jobs, Banking and More.
