By Staff writer
Gulf state’s top companies post significant gains in dollar value on back of resurgent economy and real estate market
Telecommunications giant Etisalat is the UAE’s largest company, with a current market capitalisation of more than $25bn, Arabian Business can reveal.
Our latest countdown of the Gulf state’s top companies was dominated by firms from the banking, real estate and transportation sectors, all of which have registered significant gains in dollar value over the past year.
Backed by a surging stock market and resurgent property sector, industry heavyweights including Emaar Properties, DP World and First Gulf Bank all bulked up in market capitalisation.
“It’s been a fantastic year for businesses in the UAE, with the country’s bourses, economy and property markets all humming along nicely,” said Anil Bhoyrul, editorial director, Arabian Business. “Add to this the emirate’s recent success in terms of Expo 2020, and I expect 2014 to be a stellar year for the UAE’s business community.”
* Market capitalisation data was pulled directly from the Dubai Financial Market, Abu Dhabi Securities Exchange and NASDAQ Dubai bourses and is correct as of 13 February 2014.