Revealed: Gulf's most admired companies

6. The Investment Dar (Kuwait)
Investment
The largest listed investment company in the Gulf, The Investment Dar (TID) truly roared onto the international scene last month when it took a stake in prestigious carmaker Aston Martin. A consortium including TID, led by ex-Benetton and BAR racing boss David Richards, acquired the carmaker from Ford for US$925m. Yet while this may have been the Kuwaiti business's most high-profile acquisition, TID already has subsidiaries in a series of industries, including finance, banking, real estate, and services including insurance, money collection and rating, logistics, research and consultancy and project management. The company also received the WIFIC Recognition Award at the 1st Annual World Islamic Finance & Investment Conference last month, reflecting TID's remarkable achievements in 2006. Last year, the company had assets under management worth US$15bn, total assets of US$3.7bn, and a net income of US$318m. Net profit was up 14% on 2005 - the 11th consecutive year in which profits have risen for the company.

7. SABIC (KSA)
Manufacturing
Saudi Basic Industries Corp is a diversified manufacturing company, active in chemicals, industrial polymers, fertilizers and metals. It is the largest public company in Saudi Arabia listed on the Tadawul stock exchange, the Middle East's largest non-oil industrial company and was the highest ranked regional business on the Forbes top 2000 companies list. SABIC is currently the world's second largest ethylene glycol producer (expected to take number one spot after the introduction of a series of new projects), the third largest polyethylene manufacturer, the fourth largest polyolefins manufacturer, and the sixth largest polypropylene manufacturer.

Based in Riyadh, it has interests in 17 affiliated companies which range from full ownership to significant partial participation. Additionally, SABIC Europe employs 2300 people and has two major manufacturing locations in Geleen in the Netherlands and Gelsenkirchen in Germany. Earlier this year, the European arm took over Huntsman plants in the UK at North Tees and Teeside.

8. Qatari Diar (Qatar)
Investment
Last week, Qatari Diar finally sealed the acquisition of the 13-acre Chelsea Barracks site in the heart of London. The company plans to build a combination of luxury apartments and affordable housing at the former home of the Queen's Guard - a project that will require sensitivity towards the past, as well as ambition for the future.

Fully owned by the Qatar Investment Authority, Qatari Diar was founded in 2005 to support the county's rapidly expanding economy and to provide structure and quality control for its real estate development projects.

Capitalised at US$1bn, the company currently has 18 projects underway, ranging from the new Doha Convention Centre and Tower, a significant new landmark on the capital's skyline, to the Ras Al-Hadd eco-tourism resort in Oman, and the giant Lusail project in Qatar.

It is also involved in affordable housing schemes through its joint venture partner, Barwa. The group's Barwa City project will house 40,000 people while the US$6.8bn Al Khor Barwa development will accommodate 60,000 residents over 5.5 million sq m.

In addition to reporting 2006 profits of US$124m, Barwa fought off tough competition to win the contract to build a 275,000 sq m urbanisation project on the Monte Carlo coastline that could be worth up to US$13bn.

9. Qatar Airways (Qatar)
Aviation
Under the leadership of CEO Akbar Al Baker, Qatar Airways is widely recognised as one of the fastest growing airlines in the world. It already flies a modern fleet of aircraft to 71 destinations worldwide but recently filed a huge order with Airbus for 80 A350 XWB's.

It is one of only four airlines in the world with a ‘five star' ranking awarded by the independent industry-monitoring agency, and found its status further enhanced as it acted as the official airline of the 2006 Asian Games, held in Doha last December.

During the 2005/2006 financial year, the airline carried 6.3 million passengers. It is expected to carry over eight million during 2006/2007, when another seven routes will be launched.

10. Dar Al Arkan Real Estate Development Company (KSA)
Property
Established in 1993, Dar Al Arkan Real Estate Development Company (DAAR) is one of the largest residential real estate developers in Saudi Arabia. Moreover, it has broken new ground financially, as well as on-site.

In February this year, a consortium of international banks announced the successful closing of a groundbreaking US$600m Sukuk on behalf of the company. The three-year issue, based on an Ijara structure, marked the first Sukuk issued by a Saudi corporate in the international capital markets.

The Sukuk was initially offered as a US$425m issue but was increased after a strong response from financial institutions in Europe, Southeast Asia and the GCC. The issue attracted close to $700m in subscriptions.

Dar Al Arkan aims to provide affordable, international standard housing solutions to middle income families across Saudi Arabia. It has been assigned a corporate rating of (A-) by Capital Intelligence, and was the first in the kingdom to achieve ISO9001 accreditation.

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