Top 100 Arab Family Businesses 2023

Top 100 Arab Family Businesses 2023

Forbes Middle East: Most of the top family-owned businesses in the Middle East either started off as dealers, agents, or distributors for international companies, with the most successful enterprises evolving by adding more services and sectors to their portfolios. However, recently more family businesses seem to be looking to access the region’s stock exchanges for growth. In our 2023 list of the Top 100 Arab Family Businesses, over 60% are major shareholders in a company listed on a regional stock exchange. Most of these listed companies’ family businesses were among the founding shareholders. These listings not only bring in capital but allow family members to unlock value, as well as improve transparency and governance.

While there are now female board members in most family businesses in the Middle East, almost all the heads are still men. Only four of the top 100 family businesses have women leaders. Most of the companies on our list have stood the test of time, with six of the entries established in the 1800s.

Saudi Arabia dominates with 33 entries and is home to four of the top 10 companies. The U.A.E. comes in close second place with 29 entries, followed by Egypt with nine, and Qatar with eight. Family businesses have also begun investing in startups, with the Mansour and Abdel Latif Jameel families investing in global startups. The Tamer Group acquired Mumzworld, a childcare e-commerce company, in 2021.

Family businesses are still playing catchup in terms of sustainability, but as most are reaching the second or third generation, they have begun to change with the times. Many of them are bringing in corporate governance, establishing clear structures, and putting professional managers in place. A few companies have separate family boards and corporate boards, and several have non-family members on their boards. Most have a non-family member in the top management team.

On the ESG front, the region’s family businesses are mostly focused on social causes rather than the environment. According to a 2023 PwC study, only 11% of family businesses have set targets around their environmental impact and only 38% regularly communicate how they are performing against non-financial indicators.

While many are still focused on traditional business and, to a large extent, have stayed clear of tech, they will need to transform as tech continues to disrupt industries.

1. Mansour Group

2. Al-Futtaim Group

3. Olayan Financing Company (OFC)

4. Al Ghurair Investment

5. Majid Al Futtaim Holding

6. Abdul Latif Jameel

7. Al Muhaidib Group

8. SEDCO Holding

9. Al Ghurair Group

10. Al Faisal Holding

11. Suhail Bahwan Group

12. Alshaya Group

13. Power International Holding (PIH)

14. AlNahla Group

15. Juffali

16. DAMAC Group

17. Alfardan Group

18. AW Rostamani Group

19. Alghanim Industries

20. Dallah Albaraka Holding

21. O Capital Group

22. S.S. Lootah Group

23. Yousuf M.A. Naghi & Sons Group

24. The Zubair Corporation

25. Cevital Group

26. Zahid Group

27. Saud Bahwan Group

27. Rawabi Holding

28. Jarir Marketing Company

29. Mohamed & Obaid Almulla Group

30. Bait Al-Batterjee Holding

31. Y. K. Almoayyed & Sons Group

32. Easa Saleh Al Gurg Group (ESAG)

33. Ajlan & Bros Group

34. Nesma Group

35. Al Masaood Group

36. Aujan Group Holding (AGH)

37. Elsewedy Electric

38. Al-Dabbagh Group (ADG)

39. AlJammaz Group

40. Mohammed Ibrahim Alsubeaei & Sons Investment Company (MASIC)

41. Obeikan Investment Group (OIG)

42. ALSAYER Holding

43. Abdullah AlOthaim Holding Company

44. BoodaiCorp

45. Yusuf Bin Ahmed Kanoo Group (YBA Kanoo)

46. Khalifa Juma Al Nabooda Grou

47. Manaseer Group

48. ELARABY Group

49. Ghassan Aboud Group (GAG)

50. AlNowais Investments

51. Mohsin Haider Darwish

52. Alkhorayef Group

53. Crescent Group

54. MAG Group

55. AlOthman Holding

56. Tiger Group

57. Darwish Holding

58. Al Mulla Group

59. Saeed & Mohammed Al Naboodah Holding

60. Bukhamseen Group Holding Company

61. Abunayyan Holding

62. Sumou Holding

63. Talaat Moustafa Group Holding (TMG Holding)

64. Safari Group

65. GMG

66. Sayegh Group

67. Hayel Saeed Anam Group (HSA Group)

68. BinDawood Holding Company

69. Almana Group

70. Mouawad

71. Al Faisaliah Group (AFG)

72. Hassan Allam Holding

73. Al Qahtani Holding

74. Jamjoom Pharma

75. Khansaheb

76. Abdulla Yousif Fakhro Group

77. Oasis Investment Company (Al Shirawi Group)

78. Al Khayyat Investments (AKI)

79. Alzayani Investments

80. Memaar Al Morshedy

81. Chalhoub Group

82. Naif Alrajhi Investment Group

83. Tamer Group

84. Gargash Group

85. Oriental Weavers Group

86. Alturki Holding

87. Holmarcom Group

88. GB Corp

89. Bin Hamoodah Company

90. Alsulaiman Group (ASG)

91. Albwardy Investment

92. Diana Holding

93. Abu Ghazaleh Investments (AGI)

94. Seddiqi Holding

95. Towell Group

96. Abu Issa Holding

97. Ali Bin Ali Holding (ABA Holding)

98. Tamimi Group

99. MM Group for Industry and International Trade (MTI)

100. Almuftah Group.

Source: Forbes Middle East

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