Etisalat has topped the list of the UAE’s 50 biggest companies, in a new survey by Arabian Business.
The telecoms giant took first place with a market value of AED75.6bn, more than twice its nearest rivals, DP World, valued at AED34.4bn. The list ranks companies by market value, based on figures obtained from Bloomberg at close of trading last Thursday. Companies on the Dubai Financial Market, Abu Dhabi Exchange and Nasdaq Dubai were surveyed.
The list is heavily dominated by banks, with six in the top ten. Property giant Emaar, which has seen a rise in its share price this year, is ranked fourth with a value of AED18.58bn, well ahead of the next property company Aldar, ranked 16th with a value of AED4.53bn.
The list also shows a strong performance for construction giant Arabtec, which has seen its shares rise by more than 60% since the start of 2012. The company is now ranked 17th, with a market value of AED4.35bn.