Special Report: Top 100 GCC Companies 2014

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

The last year has been fabulous for GCC countries, with substantial fiscal surpluses and increased state spending ensuring healthy growth rates.

Overall GCC market liquidity level surged to $414 billion in the first half of 2014, an increase of 56 per cent over the equivalent period from previous year.

The highlights for the first half of this year were the upgrade to emerging status accorded to the UAE and Qatar markets, Saudi’s capital market authority announcing that Tadawul would be opened up to foreign institutional investors by 2015, and a record number and value of IPOs since 2008.

The road ahead

Following the successful upgrade of the UAE and Qatar markets into the MSCI Emerging Market Index, Saudi Arabia is vying for a similar upgrade. The announcement to allow foreign investor participation, albeit in a regulated manner, is seen as the first step in a bid to ramp up market reforms.

For the UAE, the preparations to host the World Expo 2020 should keep non-oil growth ticking, while Qatar has several on-going projects in roads, ports, rail, metro, real estate developments and a new central business district in Lusail, as part of its infrastructure build-up to the World Cup. In Kuwait, the ensuing political stability has increased optimism for a revival in investment cycle.

However, fluctuating oil prices would impact government spending, and will have a spillover effect on other sectors in the GCC region.

Company NameCountry Market Cap ($BN)20142013
Saudi Basic Industries Corp (SABIC)Saudi Arabia106.3911
Saudi Telecom Co (STC)Saudi Arabia40.426
Qatar National Bank (QNB)Qatar37.1932
Al Rajhi Banking and Investment CorpSaudi Arabia33.6943
Industries QatarQatar31.5554
Emirates Telecommunication Corp LtdUAE24.8665
Kingdom Holding CoSaudi Arabia23.5778
Emaar PropertiesUAE21.74821
Saudi Electricity Co (SEC)Saudi Arabia19.66911
First Gulf Bank (FGB)UAE19.591012
Etihad EtisalatSaudi Arabia18.68117
Riyad BankSaudi Arabia18.681220
National Bank of Abu Dhabi (NBAD)UAE18.18139
Saudi British Bank (SBB)Saudi Arabia171418
National Bank of Kuwait (NBK)Kuwait16.871510
Samba Financial GroupSaudi Arabia16.321615
DP World LtdUAE16.021713
Saudi Arabian Fertilizer CoSaudi Arabia14.821814
Emirates NBD BankUAE14.651928
Ezdan Holding GroupQatar13.642016
Banque Saudi FransiSaudi Arabia13.082127
Jabal Omar Development CoSaudi Arabia13.012225
Almarai CoSaudi Arabia12.522323
Kuwait Finance House (KFH)Kuwait12.332422
Abu Dhabi Commercial BankUAE12.192529
Savola GroupSaudi Arabia12.032631
Yanbu National Petrochemical CoSaudi Arabia11.622724
Mesaieed Petrochemical Holding CoQatar11.5628N/A
Masraf Al RayanQatar11.392934
OoredooQatar10.783017
Saudi Arabian Mining CoSaudi Arabia10.583132
Alinma BankSaudi Arabia10.043233
Mobile Telecommunications CoKuwait9.893319
Arab National BankSaudi Arabia9.633430
Aldar PropertiesUAE8.583535
Dubai Islamic Bank (DIB)UAE8.53651
Rabigh Refining and PetrochemicalSaudi Arabia8.183752
Qatar Islamic Bank (QIB)Qatar7.543841
Dubai Financial Market (DFM)UAE7.543942
Emirates Integrated Telecommunications CoUAE7.314026
Saudi Kayan Petrochemical CoSaudi Arabia6.964140
National Industrialization CoSaudi Arabia6.964238
Fawaz Abdulaziz Alhokair CoSaudi Arabia6.654349
Saudi Hollandi BankSaudi Arabia6.514445
MashreqbankUAE6.214586
Gulf International ServicesQatar5.974695
Arabtec HoldingUAE5.774796
Qatar Electricity and Water CoQatar5.624839
Commercial Bank of QatarQatar5.624937
Abu Dhabi Islamic BankUAE5.555067
Bank AlbiladSaudi Arabia5.415163
Al Tayyar Travel GroupSaudi Arabia5.115277
Qatar FuelQatar5.15336
Saudi Industrial Investment GroupSaudi Arabia5.095460
Saudi Investment BankSaudi Arabia5.075556
Union National BankUAE5.065648
Jarir Marketing CoSaudi Arabia4.965758
Vodafone QatarQatar4.935891
Ahli United BankBahrain4.885950
Saudi Cement CoSaudi Arabia4.816043
Kuwait Food CoKuwait4.526162
Dar Al Arkan Real Estate Development CoSaudi Arabia4.526265
National Bank of Ras Al KhaimahUAE4.526369
National Petrochemical CoSaudi Arabia4.526472
Qatar Insurance CoQatar4.416590
Southern Province Cement CoSaudi Arabia4.396646
Doha BankQatar4.366754
Barwa Real Estate CoQatar4.316873
Saudi Airlines Catering CoSaudi Arabia4.296979
Emaar The Economic CitySaudi Arabia4.227081
Saudi International Petrochemical CoSaudi Arabia4.217183
Bank MuscatOman4.157259
Bank AljaziraSaudi Arabia3.977382
Dubai InvestmentsUAE3.957499
Commercial Bank of Dubai (CBD)UAE3.787588
Kuwait Projects Company HoldingKuwait3.787678
Makkah Construction and Development CoSaudi Arabia3.77764
Qatar Gas Transport Co LtdQatar3.687874
Commercial Bank of Kuwait (CBK)Kuwait3.677961
Qatar International Islamic BankQatar3.638087
Yamamah Saudi Cement CoSaudi Arabia3.598176
Agility Public Warehousing CoKuwait3.538275
Boubyan BankKuwait3.528344
Gulf BankKuwait3.478447
National Shipping Company of Saudi ArabiaSaudi Arabia3.4685N/A
Oman Telecommunications CoOman3.438666
Ahli United BankKuwait3.328757
Yanbu Cement CoSaudi Arabia3.278868
Burgan BankKuwait3.238955
Mobile Telecommunications Company Saudi ArabiaSaudi Arabia3.219070
Sahara Petrochemical CoSaudi Arabia3.159197
Qatar NavigationQatar2.969284
United Development CoQatar2.849392
Mabanee CoKuwait2.79480
Aamal CoQatar2.689585
National Mobile Telecommunications CoKuwait2.629653
Qassim Cement CoSaudi Arabia2.529794
Al Ahli Bank of KuwaitKuwait2.429871
Ahli BankQatar2.49998
Advanced Petrochemical CoSaudi Arabia2.39100N/A