DOHA: Three Qatari real estate companies have made it to Forbes Middle East’s inaugural list of the Arab world’s top private real estate developers.
The top Qatari firm on the list is 4th ranked Barwa, followed by Ezdan Holding and United Development Company, ranked 5, and United Development Company, ranked 7, reported local Arabic daily Al-Raya. At an event in Dubai, Forbes announced that from the listed companies, UAE construction giant Emaar Properties came out on top with both the largest asset base of $21.7bn, as well as the highest amount of revenue at $3.7bn.
Forbes Middle East said its first-ever ranking of the Arab world’s top 100 real estate companies and consultants was aimed at celebrating business leaders and the vision of top enterprises and their contribution to the economic development of the Arab world.
“The real estate market in the region is undergoing a transformation,” said Forbes Middle East editor-in-chief Khuloud Al Omian.
“The market is now witnessing a shift from high-end luxury buyers to the middle-class segment of affordable consumers,” he added.
