Forbes Middle East has unveiled its 2023 compilation of the Top 100 Arab Family Businesses, with a significant majority of over 60% serving as primary stakeholders in companies listed on regional stock exchanges. Notably, Qatar has secured a commendable representation, contributing 8 family enterprises to this prestigious roster.
The Qatar-based companies that have merited inclusion are as follows:
|Al Faisal Holding
|Power International Holding (PIH)
|Abu Issa Holding
|Ali Bin Ali Holding (ABA Holding)
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 2023 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.