Riyadh – Sharikat Mubasher: Saudi-headquartered family businesses dominate the Forbes Middle East list of the Top 100 Arab Family Businesses for 2023 with 33 entries, holding four of the top 10 positions.

Trailing close behind, the UAE boasts an impressive 29 entries, followed by Egypt with nine and Qatar with eight.

The list showcased MENA’s most exceptional legacy businesses that have not only endured through generations but are now making waves on the region’s stock markets, Forbes said.

Determined to honor the profound heritage and triumphs of Arab family businesses, Forbes Middle East meticulously evaluated each conglomerate based on the size and performance of their holdings, business activity, age, and legacy, as well as their remarkable geographical and sector diversification.

Notably, over 60% of the listees are major shareholders in companies listed on regional stock exchanges, many of which were founded by their families.

Climbing the ranks, SEDCO Holding is the only newcomer to this year’s top 10, leaping from the 14th spot in 2022. This Saudi investment firm owns 35% of Nahdi Medical Company, which raised $1.4 billion in 2022, marking the kingdom’s largest IPO since Aramco’s listing.

The top 10 Arab family businesses in the Middle East - 2023:

1. Mansour Group, Egypt.

2. Al-Futtaim Group, UAE.

3. Olayan Financing Company (OFC), Saudi Arabia.

4. Al Ghurair Investment, UAE.

5. Majid Al Futtaim Holding, UAE.

6. Abdul Latif Jameel, Saudi Arabia.

7. Al Muhaidib Group, Saudi Arabia.

8. SEDCO Holding, Saudi Arabia.

9. Al Ghurair Group, UAE.

10. Al Faisal Holding, Qatar.