DUBAI — At a magnificent award ceremony held in Dubai, Forbes Middle East celebrated the region’s corporate success and revealed the publication’s highly-anticipated ranking of the Top 500 Companies in the Arab World 2014.
In front of an audience of distinguished guests, the award ceremony acknowledged the achievements of some of the top companies across the region, including FGB, Dubai Islamic Bank, du, Aramex, Saudi Investment Bank, Kuwait Projects Company, Dar Al-arkan Real Estate Development Co., and Americana Group.
Other top companies awarded on the night included Saudi International Petrochemical Company, Dubai Investments, Al Tayyar Travel Group, The National Shipping Co. (Bahri), Fawaz Abdulaziz AlHokair Co. and Saudi Cement Co.
Following the award ceremony, Osman Sultan, CEO of du, and Hussein Hachem, CEO of Aramex, took to the stage to witness the announcement of their respective companies as the cover stories for this month’s coveted issue of Forbes Middle East.
Speaking during the event, Hannah Stewart, Executive Editor at Forbes Middle East, said: “These companies are the legacy of our time. They are bringing diversification to the region’s economies and carrying that success to international soil. Almost every sector was hit by the economic downturn, but this list shows just how far the Middle East has come. The Top 500 Companies in the Arab World is testament to an exciting time here in the Middle East and it is thanks, in part, to the passion and drive of our formidable corporations that this was able to happen.”
Also commenting on the special occasion, Hayssam El Masri, Advisor to the Board of Directors at investment services company, The Investor For Securities, drew on his own experience and shared his view on how companies can push towards a more prosperous future:
“One of the greatest lessons I have learnt is that innovation and vision are vital to success, a belief shared by our partners tonight, Forbes Middle East. Attention must also be paid to the evolution of the market, whether that means adopting the latest technologies, establishing stable and effective corporate governance, bolstering the legal and regulatory environment, or ensuring that future growth is both financially and environmentally sustainable in line with compliance policies and procedures.”
For the evening’s special event, The Investor For Securities joined forces with Forbes Middle East as the Title Partner. Other esteemed partners that helped make the evening a great success included Al Tayyar Travel Group, Janabi Group, Elite Executive Services, Elegant Resorts and Skyline University College, Emirates Airline, HMG, The American Hospital, Montegrappa, Confiserie Sprüngli, DMTV and Dubai Eye 103.8.
Featuring only publically-listed companies, the Top 500 Companies in the Arab World builds on Forbes’ pioneering Global 2000 and was based on disclosed financial statements for 2013, collated from stock markets across the region. Criteria considered when producing the list include total revenue, net profits, total assets, and market capitalization. – SG
