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REVEALED: The UAE’s 50 biggest companies

Arabian Business counts down the Gulf state’s largest companies by market capitalisation

50. Dubai Refreshments Company

nIndustry: Consumer Staples

nMarket cap: AED1.1bn

nDubai Refreshments is engaged in bottling and selling Pepsi Cola International products in Dubai, Sharjah and the other Northern Emirates. The company also owns 7UP and Aquafina bottling and selling rights for the whole of the UAE.

49. National Corp. For Tourism & Hotels – NCTH

nIndustry: Services

nMarket cap: AED1.13bn

nThe company is engaged in promoting Abu Dhabi as an ideal international tourist destination.

48. National General Insurance Company

nIndustry: Insurance

nMarket cap: AED1.39bn

nNational General Insurance provides life insurance as well as health insurance.

47. Tamweel

nIndustry: Banks

nMarket cap: AED1.14bn

nTamweel is engaged in Islamic Sharia-compliant property financing and investment activities.

46. Abu Dhabi Aviation Co. – ADAVIATION

nIndustry: Services

nMarket cap: AED1.16bn

nThe company was primarily formed to own and operate helicopters and fixed-winged airplanes and perform other related activities. In 1999 the name of the company was changed from Abu-Dhabi Aviation limited to Abu-Dhabi Aviation.

45. Sudan Telecommunication Co. – SUDATEL

nIndustry: Telecoms

nMarket cap: AED1.18bn

nEngaged in installation, maintenance, and operation of telecommunication infrastructure.

44. International Fish Farming Co. – ASMAK

nIndustry: Consumer

nMarket cap: AED1.19bn

nThe Company is engaged in establishing, developing and operating fish farms; producing, processing, trading in fish and fish products and other aquaculture resources as well as owning shares in projects and services related to fish farming.

43. Arkan Building Materials Co.nIndustry: Industrial

nMarket cap: AED1.19bn

nThe company is primarily engaged in owning and developing companies and businesses involved in the construction related sector in the UAE in addition to working in other trading activities.

42. Emirates FoodStuff & Mineral Water Co. – AGTHIA

nIndustry: Consumer

nMarket cap: AED1.308bn

nThe company is engaged in agriculture-business producing flour, animal feed as well as mineral water products.

41. Union Properties

nIndustry: Real Estate & Construction

nMarket cap: AED1.329bn

nUnion Property Limited was initially formed to manage the properties of Emirates Bank International. In 1993, the Company became public and expanded its business, by offering a comprehensive and integrated range of services such as property management, interior design, property valuation as well as other consultancy related services.

40. Ajman Bank

nIndustry: Banks

nMarket cap: AED1.42bn

nAjman Bank (AJMANBANK) aims to operate as a full-fledged Islamic bank supporting the on-going social and economic developments in Ajman by providing Shariah-compliant products and services including murabaha, mudarabah, istisna’a, musharaka, and ijara and other innovative Islamic products and services catering to the needs of the local market.

39. Amlak Finance

nIndustry: Banks

nMarket cap: AED1.53bn

nAmlak Finance is primarily engaged in providing medium to long term finance for the acquisition, lease, and development of residential, commercial and industrial properties in Dubai. Amlak activities are conducted in accordance with Islamic Sharia offering various financing schemes such as Ijara, Murabaha, Mudaraba and Musharaka.

38. Drake & Scull International

nIndustry: Real Estate & Construction

nMarket cap: AED1.53bn

nDrake & Scull International is engaged in providing Integrated services in the field of electrical, mechanical, health, civil, infrastructure, water, and power engineering in addition to civil contracting services.

37. Commercial Bank International

nIndustry: Banks

nMarket cap: AED1.77bn

nTo provide commercial banking services.

36. Abu Dhabi National Hotels Co. – ADNH

nIndustry: Services

nMarket cap: AED1.78bn

nThe company owns three hotels originally purchased from the Government. It also offers industrial catering services as well as transportation tourism, duty-free and travel catering in addition to management of four, 5-star hotels.

35. Abu Dhabi National Insurance Co. – ADNIC

nIndustry: Insurance

nMarket cap: AED2.025bn

nThe company is engaged in all classes of insurance and reinsurance.

34. Deyaar Development Company

nIndustry: Real Estate & Construction

nMarket cap: AED2.033bn

nDeyaar is engaged in providing property development, management, leasing, financing and brokerage services for residential and commercial properties.

33. Invest Bank

nIndustry: Banks

nMarket cap: AED2.125bn

nThe bank is engaged in providing commercial and retail banking services.

32. Sharjah Islamic Bank

nIndustry: Banks

nMarket cap: AED2.231bn

nTo provide general banking services in accordance to Islamic Sharia.

31. National Marine Dredging Co. – NMDC

nIndustry: Services

nMarket cap: AED2.278bn

nIts main line of business includes the execution of Dredging projects and the operations of improving land-fields related to it, in the regional water of the U.A.E as per contract agreement with the government of Abu-Dhabi.

30. Gulf Pharmaceutical Industry: Industries – JULPHAR

nIndustry: Industrial

nMarket cap: AED2.369bn

nThe company is engaged in manufacturing medicine, antibiotics, medical syringes, and is regarded as the first in the gulf region. Julphar also markets its products internationally and owns factories in Equador and Germany, as well as marketing offices in the Middle East, USA, and Europe.

29. Emirates Islamic BanknIndustry: Banks

nMarket cap: AED2.68bn

nThe bank is engaged in providing banking services including financing and investment activities in accordance to Islamic Sharee’a.

28. Bank of Sharjah

nIndustry: Banks

nMarket cap: AED2.7bn

nTo provide general banking services.

27. National Bank of Umm Al Qaiwain

nIndustry: Banks

nMarket cap: AED2.96bn

nTo provide commercial banking services.

26. Dana Gas Co.

nIndustry: Energy

nMarket cap: AED2.97bn

nDana Gas Co. is the first regional private sector natural gas resource enterprise to be established in the Gulf region with assets in and contractual entitlements to the largest private sector integrated natural gas supply chain in the UAE. Dana Gas intends to undertake major expansion by pursuing natural gas opportunities throughout the Gulf as well as the wider MENA region.

25. Aramex

nIndustry: Transport

nMarket cap: AED3bn

nAramex is engaged in establishing, investing, and managing commercial & industrial projects, including cargo, storage and logistical services, in addition to owning companies working in the field of transporting freight and documents via land, sea and air.

24. Dubai Investment Company

nIndustry: Investment and Financial Services

nMarket cap: AED3.04bn

nDubai Investment Company’s main objective is to invest in other commercial companies and projects as defined in its Articles of Association.

23. United Arab Bank

nIndustry: Banks

nMarket cap: AED3.07bn

nTo provide general banking services.

22. Oman Insurance Company

nIndustry: Insurance

nMarket cap: AED3.117bn

nOman Insurance Company is engaged in providing general insurance and life insurance, as well as investing its surplus funds in equities and real estate.

21. Sorouh Real Estate Co

nIndustry: Real Estate

nMarket cap: AED3.49bn

nThe company is engaged in establishing, developing, owning, managing, investing, leasing, and renovating real estates and buildings; commercial, medical, learning, and residential centers. It also owns hotels, tourist, amusement, and sports resorts, playgrounds, and industrial structures in addition to owning, leasing, and registering patents and copyrights.

20. Arabtec Holding

nIndustry: Real Estate & Construction

nMarket cap: AED3.516bn

nArabtec is engaged in investing in construction and contracting sectors through establishing, managing, acquiring and owning shares in other contracting companies in the UAE.

19. Air Arabia

nIndustry: Transport

nMarket cap: AED3.896bn

nAir Arabia is the first low-fares airline in the Middle East and North Africa region, with a vision to be one of the world’s leading budget airlines in terms of profit margin, innovation, reputation and operational excellence.

18. Al Dar Properties Co. – ALDAR

nIndustry: Real Estate

nMarket cap: AED5.433bn

nAl Dar Properties Co. (ALDAR) is engaged in real estate development, management, and investment.

17. National Bank of Fujairah

nIndustry: Banks

nMarket cap: AED5.753bn

nProviding commercial banking services.

16. Commercial Bank of Dubai

nIndustry: Banks

nMarket cap: AED5.823bn

nCommercial Bank of Dubai provides commercial banking services.

15. National Bank Of Ras Al Khaimah – RAKBANK

nIndustry: Banks

nMarket cap: AED6.247bn

nThe bank is engaged in providing commercial banking services.

14. Abu Dhabi Islamic Bank

nIndustry: Banks

nMarket cap: AED7.448bn

nTo provide commercial banking services in compliance with Islamic Sharee’a.

13. Union National Bank

nIndustry: Banks

nMarket cap: AED7.586bn

nTo provide commercial banking services.

12. Dubai Islamic Bank

nIndustry: Banks

nMarket cap: AED7.634bn

nDIB is a provider of retail banking, corporate banking, private banking, consumer banking, investment banking, contracting finance and real estate finance.

11. Dubai Financial Company

nIndustry: Investment and Financial Services

nMarket cap: AED8.104bn

nDubai Financial Market is engaged in listing and trading of public joint stock company’s shares in addition to bonds, Islamic sukuk, and mutual funds.

10. Abu Dhabi National Energy Co.

nIndustry: Energy

nMarket cap: AED8.403bn

nThe company is engaged in generating, transporting, and distributing electricity, water, gas, petroleum and minerals in addition to owning shares, establishing and financing companies and projects related to the company’s activities.

9. Mashreq Bank

nIndustry: Banks

nMarket cap: AED9.299bnAED

nMashreq Bank is considered the largest private bank and one of the oldest commercial banks in the UAE.

8. Emirates NBD

nIndustry: Banks

nMarket cap: AED15.839bn

nEmirates NBD was incorporated in order to effect a merger between Emirates Bank International (EBI) and National Bank of Dubai (NBD)

7. Du

nIndustry: Telecoms

nMarket cap: AED15.954bn

nEmirates Integrated Telecommunications Company (DU) is the new telecommunication services provider in the United Arab Emirates. DU is an integrated service provider offering voice, data, video and content services over fixed and mobile networks to residential and business customers. DU has three broad target segments. Consumers’ segment focuses on individuals and households by offering mobile and fixed voice calling, Internet, data services and television. Businesses’ segment focuses on small to very large corporations and government agencies by offering integrated fixed and mobile business solutions including voice, data, content and applications as well as professional services. Carriers’ segment focuses on providing carrier, international data networks and wholesale services to international operators, multinational corporations and telecom carriers. DU is listed on Dubai Financial Market.n

6. Abu Dhabi Commercial Bank nIndustry: Banks

nMarket cap: AED17.5bn

nAbu Dhabi Commercial Bank (ADCB) is a public joint stock company with limited liability incorporated in the Emirate of Abu Dhabi, United Arab Emirates. ADCB changed its name from Khalij Commercial Bank to Abu Dhabi Commercial Bank after merging with Emirates Commercial Bank and Federal Commercial Bank in 1985. ADCB carries on retail banking, commercial banking, investment banking, merchant banking, brokerage and asset management activities through its network of forty two branches in the United Arab Emirates and two branches in India.

5. Emaar Properties

nIndustry: Real Estate & Construction

nMarket cap: AED22.8bn

nEmaar Properties Co. (EMAAR) is primarily engaged in real estate development, acquisition and management of commercial and residential properties.

4. First Gulf Bank

nIndustry: Banks

nMarket cap: AED35.55bn

nTo provide commercial banking services.

3. DP World

nIndustry: Transport

nMarket cap: AED35.6bn

nDP World is a marine terminal operator. The Company provides international marine terminal operations, logistics, infrastructure development, and consultancy services.

2. National Bank of Abu Dhabi

nIndustry: Banks

nMarket cap: AED39.9bn

nThe National Bank of Abu Dhabi (NBAD) was incorporated in 1968 to serve as banker to the United Arab Emirates government and the emirate of Abu Dhabi. It also fulfilled the role of the Central Bank till the formation of the currency board in 1975. NBAD is organized into three client-focused businesses. These are the UAE Domestic bank, the International business, and a UAE based Investment bank. NBAD’s retail customer base is segmented into Retail, Elite and Private banking customers. The International Banking Division manages NBAD’s Overseas Branch Network, Abu Dhabi International Group and Financial Institutions Group, and oversees 23 overseas units stretching from Oman and Bahrain in the GCC, Cairo and Khartoum in Africa, London and Paris in Europe to Washington D.C. in the U.S.A. Abu Dhabi Financial Services LLC is NBAD’s wholly owned subsidiary which provides brokerage services in local and foreign equities, in addition to commodities trading and managing initial public offerings, and is currently the largest share brokerage in the UAE.

1. Etisalat

nIndustry: Telecoms

nMarket cap: AED71.78bn

nEmirates Telecommunications Corporation (Etisalat) is a United Arab Emirates-based company engaged, together with its subsidiaries, in providing telecommunication services, media and equipment, as well as related contracting and consultancy services to international companies and consortia. Etisalat is supported by business divisions, namely eCompany, Ebtikar, Emirates Data Clearing House, Emirates Internet Exchange, Etisalat Academy, Etisalat University College, The Contact Center, UAE Lab and UAE Network Information Center. Etisalat’s core products and services feature voice communication, wireless communication and data communication provided jointly with its subsidiaries, e-vision and e-marine. Emirates Telecommunications Corp. has also stakes in Thuraya Satellite Telecommunications Company, Zanzibar Telecom Limited and Etihad Etisalat Company (Mobily).

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