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Posted On: 16 August 2021 04:42 pm
Updated On: 16 August 2021 04:53 pm

Five Qatari enterprises among Forbes’ top 100 Arab family businesses in Middle East 2021 list

Vrinda Abilash
Vrinda Abilash
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Forbes has listed five Qatari companies which are jointly owned and run by family members in the Forbes’ Top 100 Arab Family Businesses in the Middle East 2021 list. The list from Qatar include Al Faisal Holding (Rank 11), Alfardan Group (Rank 26), Almana Group (Rank 72), Abu Issa Holding (Rank 95), and Almuftah Group (Rank 100).

The rankings as per Forbes were based on:

  • The size of the holding (including the value of listed entities owned by them), the value of their real estate and hospitality assets, and revenues from other holdings where available.
  • The number of total employees.
  • How diversified the business is in terms of sector and geography.
  • The performance of the sectors in which they operate.
  • Age and legacy of the company.

Forbes has considered only Arab families for the list, while listed companies were not considered to be family-owned businesses. "We collected information from stock exchanges, reports from consulting firms and universities, and other primary sources. In the Middle East, family businesses are more influential than corporates. According to a 2019 report by PwC, family firms contribute approximately 60% to the region’s GDP and employ 80% of the workforce. The report estimated that in the previous decade, up to $1 trillion had passed from one generation to the next within the Middle East’s family businesses", said Forbes.

Source: Forbes Middle East
Cover image source: Shutterstock