There appears to have been something of a slowdown in the UAE’s property markets recently. However, developers in the region continue to go from strength to strength, with four out of the top five in the Gulf Cooperation Council area based in the UAE. Over the last few months, leading developers have completed schemes that had been stalled for many years and launched new waves of development, ahead of anticipated population increases.
This is the latest ranking of top five developers, based on the size of their market capitalisation. Their stock has continued to rise due to strengthening balance sheet, which in turn, gives them greater financial security with which to invest further in their future pipeline.
1. Emaar Properties
One of the most significant presences in the real estate sector of the MENA region and Asia, Emaar Properties has delivered more than 37,500 residential units and been involved in major schemes such as the Dubai Marina Mall. Its share price has risen by 133.5% over the last 12 months.
2. Ezdan Real Estate
Thanks to a history stemming from the 1950s, this real estate giant continues to reach across the region. The company is capitalising on the boom in Qatar’s property market:
year-on-year sales jumped by nearly a third in June.
3. Jabal Omar Development
Initially established to invest in projects in the holy city of Makkah, the company is involved in the development of more than 40 residential towers, two five-star hotels and more than 4000 commercial and retail units.
4. Aldar Properties
Aldar has played a key role in Abu Dhabi’s growth, having developed some of the capital’s most iconic communities, including the F1 circuit on Yas Island, the Shams Abu Dhabi community on Reem Island, and Al Raha Beach. Following a merger with Sorouh Real Estate in 2013, the company has considerably strengthened its financial position.
5. Damac Properties
It’s been an important year for Damac, which became the first Middle Eastern real estate company to be listed on the London Stock Exchange. Within the last few weeks the firm has announced several major new projects, including a luxury hotel in downtown Dubai and a second Trump international golf course.