Today's Edition
SADEQ ALKHOORI (ABU DHABI)
The UAE leads the Middle East and North Africa in the number of companies featured in Forbes Middle East’s list of the region’s top 100 publicly listed firms for 2026 with 35 companies, narrowly ahead of Saudi Arabia with 34.
The ranking reflects the continued dominance of Gulf markets, with GCC countries accounting for nearly 88% of the total companies listed, highlighting the concentration of corporate activity and capital in the region.
According to the report, total market capitalisation across regional stock exchanges reached approximately $4.3 trillion as of January 2026. The top 100 companies alone accounted for around $3.7 trillion, or 86% of the total, underscoring the scale of concentration among leading firms.
UAE-based firms featured prominently on the list, including International Holding Company (IHC), which ranked among the region’s most valuable companies with a market capitalisation exceeding $238 billion.
Other major players include TAQA, ADNOC Gas and First Abu Dhabi Bank, reflecting strength across the energy, utilities and financial sectors. Sector distribution further highlights regional dynamics.
Banking and financial services accounted for 34 companies on the list, with a combined market value of more than $732 billion, while the energy sector, represented by fewer companies, contributed nearly $1.9 trillion in total market capitalisation.
Khalid W. Al Wazani, Professor of Economics and Public Policy at the Mohammed Bin Rashid School of Government, said the UAE’s position reflects the strength of its business environment.
“The UAE model of free zones provides a highly efficient ecosystem that minimises regulatory and operational barriers, allowing companies to scale across multiple markets from a single base,” he said.
He added that the country’s infrastructure and connectivity further support its role as a regional hub. “With world-class logistics, connectivity and a competitive investment environment, the UAE has positioned itself as an ideal platform for multinational companies managing regional operations.”
The ranking is based on market value data from 12 stock exchanges across 11 countries in the Middle East and North Africa, using closing prices as of January 31, 2026.
