Special Report: Top 100 GCC Companies 2013

The Gulf’s largest companies by market capitalisation, revenues and countries, as researched by Markaz.



This year began on a positive note. A strong rebound in real estate, pick-up in tourism and the hotel industry and investors’ bullish bets on Q4 corporate earnings all contributed favourably to the upsurge in the GCC markets. Sustained high oil prices and expansive fiscal and accommodative monetary policies helped the market, with further positive news when the UAE and Qatar were upgraded to emerging market status in June.

THE ROAD AHEAD

Saudi Arabia, although having sound economic fundamentals, experienced a decline in liquidity in H1 2013, which is expected to rise for the rest of the year. Kuwait’s economic growth is expected to be driven by the non-hydrocarbon sector in the near future as oil production is at near full capacity. The UAE markets were the best performers in 2012 and H1 2013. Apart from MSCI upgrade, growth in the non-hydrocarbon sector, corporate earnings and market liquidity are also playing positives for the UAE and Qatar which would benefit from increasing investment and an MSCI upgrade.

Company NameCountry Market Cap ($BN)20132012
Saudi Basic Industries Corp SJSCSaudi Arabia74.9911
Qatar National Bank SAQQatar34.0223
Al Rajhi Banking and Investment Corp SJSCSaudi Arabia30.632
Industries Qatar QSCQatar26.446
Emirates Telecommunication Corp LtdUAE25.2955
Saudi Telecom Co SJSCSaudi Arabia21.3864
Etihad Etisalat SJSCSaudi Arabia17.3711
Kingdom Holding CoSaudi Arabia17.29812
National Bank of Abu Dhabi PJSCUAE15.3917
National Bank of Kuwait SAKKuwait14.68107
Saudi Electricity Co SJSCSaudi Arabia14.55119
First Gulf Bank PJSCUAE13.481222
DP World LtdUAE13.21319
Saudi Arabian Fertilizers Co JSCSaudi Arabia12.931410
Samba Financial GroupSaudi Arabia12.721513
Ezdan Holding Group QSCQatar12.42168
Ooredoo QSCQatar12.31715
Saudi British BankSaudi Arabia10.751818
Mobile Telecommunications Co KSCKuwait10.371914
Riyad Bank SJSCSaudi Arabia10.042016
Emaar Properties PJSCUAE9.92129
Kuwait Finance House KSCKuwait9.872223
Almarai Co SJSCSaudi Arabia8.912324
Yanbu National Petrochemical Co JSCSaudi Arabia8.72425
Jabal Omar Development Co JSCSaudi Arabia8.482537
Emirates Integrated Telecommunications Co PJSCUAE8.352640
Banque Saudi FransiSaudi Arabia8.272720
Emirates NBD Bank PJSCUAE8.172839
Abu Dhabi Commercial Bank PJSCUAE8.12933
Arab National BankSaudi Arabia7.373026
Savola Group SJSCSaudi Arabia7.13135
Saudi Arabian Mining CoSaudi Arabia6.913221
Alinma BankSaudi Arabia5.923332
Masraf Al Rayan QSCQatar5.793430
Aldar Properties PJSCUAE5.7635N/A
Qatar Fuel QSCQatar4.783651
Commercial Bank of Qatar QSCQatar4.663736
National Industrialization Co JSCSaudi Arabia4.63827
Qatar Electricity and Water Co QSCQatar4.53944
Saudi Kayan Petrochemical CoSaudi Arabia4.54028
Qatar Islamic Bank SAQQatar4.474134
Dubai Financial Market PJSCUAE4.364271
Saudi Cement CoSaudi Arabia4.294342
Boubyan Bank KSCKuwait4.024443
Saudi Hollandi Bank SJSCSaudi Arabia3.994555
Southern Province Cement Co SJSCSaudi Arabia3.854645
Gulf Bank KSCKuwait3.854747
Union National Bank PJSCUAE3.784876
Fawaz Abdulaziz Alhokair CoSaudi Arabia3.744992
Ahli United Bank BSCBahrain3.745054
Dubai Islamic Bank PJSCUAE3.75180
Rabigh Refining and Petrochemical JSCSaudi Arabia3.675238
National Mobile Telecommunications Co KSCKuwait3.665341
Doha Bank QSCQatar3.65452
Burgan Bank SAKKuwait3.495558
Saudi Investment Bank SJSCSaudi Arabia3.475668
Ahli United Bank KSCKuwait3.45746
Jarir Marketing CoSaudi Arabia3.365865
Bank Muscat SAOGOman3.295956
Saudi Industrial Investment GroupSaudi Arabia3.246062
Commercial Bank of Kuwait KSCKuwait3.236148
Kuwait Food Co SAKKuwait3.156284
Bank AlbiladSaudi Arabia3.146369
Makkah Construction and Development CompanySaudi Arabia3.136485
Dar Al Arkan Real Estate Development Co SJSCSaudi Arabia3.126559
Oman Telecommunications Co SAOGOman3.096660
Abu Dhabi Islamic Bank PJSCUAE3.086777
Yanbu Cement Co JSCSaudi Arabia3.026870
National Bank of Ras Al Khaimah PSCUAE3.016993
Mobile Telecommunications Company Saudi ArabiaSaudi Arabia2.927050
Al Ahli Bank of Kuwait KSCKuwait2.837149
National Petrochemical CoSaudi Arabia2.827264
Barwa Real Estate Co QSCQatar2.817353
Qatar Gas Transport Co LtdQatar2.777466
Agility Public Warehousing Co KSCKuwait2.7575N/A
Yamamah Saudi Cement CoSaudi Arabia2.747663
Al Tayyar Travel Group SJSCSaudi Arabia2.7377100
Kuwait Projects Company Holding KSCCKuwait2.727888
Saudi Airlines Catering CoSaudi Arabia2.727997
Mabanee Co SAKCKuwait2.688061
Emaar The Economic CitySaudi Arabia2.638172
Bank Aljazira JSCSaudi Arabia2.498279
Saudi International Petrochemical Co SJSCSaudi Arabia2.48382
Qatar Navigation QSCQatar2.398483
Aamal Co QSCQatar2.368567
Mashreqbank PSCUAE2.358657
Qatar International Islamic Bank QSCQatar2.258775
Commercial Bank of Dubai PSCUAE2.228896
Abu Dhabi National Energy Co PJSCUAE2.178974
Qatar Insurance Co SAQQatar2.179087
Vodafone Qatar QSCQatar2.19173
United Development Co PSCQatar2.089289
Aluminium Bahrain BSCBahrain2.079378
Qassim Cement CoSaudi Arabia2.039481
Gulf International Services QSCQatar1.9595N/A
Arabtec Holding PJSCUAE1.9396N/A
Sahara Petrochemical CoSaudi Arabia1.869794
Ahli Bank QSCQatar1.859886
Dubai Investment PJSCUAE1.8599N/A
Air Arabia PJSCUAE1.77100N/A