Abu Dhabi National Oil Company (ADNOC) is this year’s new entrant to the Brand Finance Middle East 50 2019 and the most valuable brand in the Middle East, boasting a brand value of US$8.9 billion.
While both the UAE and KSA contribute 19 brands each to the top 50, UAE brands account for 49 per cent in total brand value while KSA brands account for about 31 per cent.
Valued at US$8.3 billion, up 8% since last year, Emirati telecoms giant Etisalat remains the most valuable B2C brand in the region for the third year in a row.
Etisalat Group has the most valuable portfolio of brands, valued at US$10 billion, with a network including Mobily, Ufone, Maroc Telecom and PTCL.
David Haigh, CEO of Brand Finance, said: "The Middle East is home to so many world class brands which are asserting their presence on both a domestic and regional scale. As the UAE looks ahead to Expo2020, Saudi Arabia races towards its Vision 2030 and Qatar gears up to host the World Cup in 2022, it is ever more important for these home-grown brands to be nurtured and catapulted to the global stage."
Saudi Arabia’s petrochemicals giant SABIC has seen its brand value boosted 6.5% since last year, valued now at US$4bn.
All eyes are now on Saudi ARAMCO which for the first time earlier this month, chose to publicly declare earnings and give a detailed breakdown of its financial performance.
This year’s league table has seen a host of new entrants from a variety of sectors: education, banking, oil and gas. Emirates Islamic Bank (brand value US$476 million), GEMS Education (US$525 million), NMC Healthcare (US$ 570 million), Arab Bank (US$ 475 million)and Woqod (US$663 million).
Dubai’s flagship carrier Emirates is the strongest brand in the Brand Finance Middle East 50 2019 ranking, with a brand strength index (BSI) score of 85.8 out of 100 and a corresponding brand rating of AAA.
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