Forbes Middle East announced its 2023 list of the Top 100 Arab Family Businesses, where over 60% are the major shareholders in a company listed on a regional stock exchange and 8 family businesses from Qatar have made it to the list.
|Al Faisal Holding||10|
|Power International Holding (PIH)||13|
|Abu Issa Holding||96|
|Ali Bin Ali Holding (ABA Holding)||97|
As per the listing, Saudi Arabia has 33 entries, the U.A.E. has 29 entries, followed by Egypt with 8, and Qatar with 8.
Forbes Middle East mentioned that most companies’ family businesses were among the founding shareholders. As per 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.
Forbes also mentioned that many of these businesses are still focused on traditional business and have stayed clear of tech.
As per Forbes Middle East, businesses owned or run by Arab families were considered for the list. They collected information from stock exchanges, reports from consulting firms, and other primary sources and ranked the family businesses based on:
• The size and value of their businesses, including listed entities, real estate and hospitality assets, and revenues from other holdings.
• Business activity in the last year, including IPOs, new project launches, and new investments.
• How diversified the business is in terms of sectors and geographies.
• The performance of their key businesses and the sectors in which they operate.
• Age and legacy of the company.
• Total number of employees.
Source: Forbes Middle East
Cover image credit: Shutterstock
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