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July 12, 2020
UAE’s 21 families have been ranked among the Arab world’s 100 most powerful family businesses, which is second highest in the region after Saudi Arabia.
According to Forbes Middle East,
Around 87 per cent of the region’s family businesses are diversified while the rest are in to one or two sectors including real estate, jewellery, FMCG, industrial, food and beverages and retail. The top 10 families employ 600,000 people have a net worth of more than $31 billion (Dh114 billion).
Around 38 businesses are still run by first generation while 47 of them are managed by second-generation. Only 15 companies are chaired by third-generation or older.
UAE’s most powerful family businesses listed by Forbes in the UAE is topped by Al Futtaim Group (has over 200 businesses); Majid Al Futtaim group (operates 27 shopping malls and 13 hotels); Al-Ghurair; Al Ghurair Group; SS Lootah Group; Juma Al Majid Holding Group; AW Rostamani Group; Easa Al Gurg Group; Al Habtoor Group; Al Naboodah Holding; Khalifa Juma Al Naboodah Group and many other.
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