Arada makes debut on Fortune 500 Arabia list, ranked as fourth largest developer in the UAE
News: 5 March 2024
Arada has appeared for the first time on a list of the top 500 companies in the Arab world, ranked in 193rd place.
The prestigious Fortune 500 Arabia ranks companies from 22 countries in the Middle East and North Africa by revenues.
With revenues of $676 million in 2022, Arada was ranked fourth in the real estate sector in the UAE and placed eighth-largest developer in the region as a whole.
The company was also ranked second largest company in Sharjah, and the 43rd largest company in the UAE overall.
According to Fortune 500 Arabia, Saudi Arabia led the list with the highest number of companies, accounting for 153 out of the 500 companies, or 30%. The United Arab Emirates followed with 17%, then Egypt, Kuwait and Qatar.
While Saudi companies recorded the highest percentage of revenue and profits among the Fortune 500 companies, the UAE had the largest proportion of the top 100 profitable companies on the list.
The top of the list was dominated with energy companies, with Saudi Aramco leading the rankings with revenues of $604 billion in 2022. The highest ranked company in the UAE was the Emirates Group, which recorded $33 billion of revenues in 2022.
Since its foundation in 2017, Arada has launched projects with a total sales value of AED52 billion and completed 9,000 homes. Last year, the master developer saw the value of total property sold rise by 100% to AED7.02 billion compared to 2022.
