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Trade Arabia
16-04-2025
- Business
- Trade Arabia
UAE dominates Forbes Middle East Real Estate Leaders 2025 list
Forbes Middle East has revealed its 2025 ranking of the region's 100 Most Impactful Real Estate Leaders, spotlighting the developers and decision-makers transforming the region's skylines. The list was compiled based on each leader's years of experience, the value of completed and ongoing projects, company financials including total assets and revenues where available, and the size of landbanks and number of units held. The UAE dominates this year's ranking with 42 leaders of companies headquartered in the country, followed by Saudi Arabia with 21 entries and Egypt with 16. Claiming the top spot is Hussain Sajwani, Founder and Chairman of Damac Properties. In February 2025, Damac had announced the pricing and settlement of its $750 million senior unsecured three-and-a-half-year Reg S Sukuk—its largest to date. Sajwani's net worth has doubled over the past year, rising from $5.1 billion in March 2024 to $10.2 billion as of March 2025. Mohamed Alabbar, Founder and Managing Director of Emaar Properties, ranks second, followed by Talal Al Dhiyebi, Group CEO of Aldar Properties, in third place. All three of the top leaders are based in the UAE, reinforcing the country's position as a leading real estate hub in the region. Besides Sajwani, four other billionaires - as recognised by Forbes as of March 2025 - appear on this year's list. These are Alabbar with an estimated fortune of $2.3 billion, Sobha Group's PNC Menon with an estimated fortune of $3.4 billion, Five Holdings' Kabir Mulchandani at $2.2 billion, and Palm Hills Developments' Yasseen Mansour with a net worth of $1.2 billion, said Forbes in a statement. Combined, the five billionaires control an estimated fortune worth $19.3 billion, it added. The list spans a diverse group of companies, from legacy institutions to ambitious newcomers. Bahrain's Kanoo Real Estate, managed by the CEO Mohamed Abdulelah Al Kooheji stands as the oldest developer on the list, having been established in 1890. The UAE-headquartered ONE Development, led by Founder and Chairman Ali Al Gebely, is the youngest listee, established in 2024. To continue the conversation on the future of real estate, Forbes Middle East will host its flagship 'Building The Future Summit' in Abu Dhabi on May 26–27, 2025, followed by the summit's first edition in Tripoli on May 29–30, 2025.- TradeArabia News Service
Zawya
16-04-2025
- Business
- Zawya
Forbes Middle East unveils The Middle East's most impactful real estate leaders 2025
UAE-based leaders reign with 42 entries, followed by 21 in Saudi Arabia and 16 in Egypt. DAMAC Properties' Hussain Sajwani tops the ranking. Five billionaires appear on the list, collectively worth $19.3 billion. Dubai: Forbes Middle East has revealed its 2025 ranking of the region's 100 Most Impactful Real Estate Leaders, spotlighting the developers and decision-makers transforming the region's skylines. The list was compiled based on each leader's years of experience, the value of completed and ongoing projects, company financials including total assets and revenues where available, and the size of landbanks and number of units held. The UAE dominates this year's ranking with 42 leaders of companies headquartered in the country, followed by Saudi Arabia with 21 entries and Egypt with 16. Claiming the top spot is Hussain Sajwani, Founder and Chairman of DAMAC Properties. In February 2025, DAMAC announced the pricing and settlement of its $750 million senior unsecured three-and-a-half-year Reg S Sukuk—its largest to date. Sajwani's net worth has doubled over the past year, rising from $5.1 billion in March 2024 to $10.2 billion as of March 2025. Mohamed Alabbar, Founder and Managing Director of Emaar Properties, ranks second, followed by Talal Al Dhiyebi, Group CEO of Aldar Properties, in third place. All three of the top leaders are based in the UAE, reinforcing the country's position as a leading real estate hub in the region. Besides Sajwani, four other billionaires – as recognized by Forbes as of March 2025 – appear on this year's list: Emaar Properties' Mohamed Alabbar with an estimated fortune of $2.3 billion, Sobha Group's PNC Menon with an estimated fortune of $3.4 billion, FIVE Holdings' Kabir Mulchandani at $2.2 billion, and Palm Hills Developments' Yasseen Mansour with a net worth of $1.2 billion. Combined, the five billionaires control an estimated fortune worth $19.3 billion. The list spans a diverse group of companies, from legacy institutions to ambitious newcomers. Bahrain's Kanoo Real Estate, managed by the CEO Mohamed Abdulelah Al Kooheji stands as the oldest developer on the list, having been established in 1890. The UAE-headquartered ONE Development, led by Founder and Chairman Ali Al Gebely, is the youngest listee, established in 2024. To continue the conversation on the future of real estate, Forbes Middle East will host its flagship 'Building The Future Summit' in Abu Dhabi on May 26–27, 2025, followed by the summit's first edition in Tripoli on May 29–30, 2025. Top 10 Most Impactful Real Estate Leaders In The Middle East 2025 1 | Hussain Sajwani Founder & Chairman, DAMAC Properties Country: U.A.E. Established: 2002 2 | Mohamed Alabbar Founder & Managing Director, Emaar Properties Country: U.A.E. Established: 1997 3 | Talal Al Dhiyebi Group CEO, Aldar Properties Country: U.A.E. Established: 2005 4 | Hisham Talaat Moustafa CEO & Managing Director, Talaat Moustafa Group Holding (TMG Holding) Country: Egypt Established: 1970 5 | Khalid Al Malik CEO, Dubai Holding Real Estate Country: U.A.E. Established: 2002 6 | Hesham Al Qassim CEO, Wasl Group Country: U.A.E. Established: 2008 7 | Abdullah bin Hamad Al Attiya Chairman, Qatari Diar Real Estate Investment Company Country: Qatar Established: 2005 8 | Muhammad BinGhatti Chairman, Binghatti Developers Country: U.A.E. Established: 2008 9 | PNC Menon Founder, Sobha Group Country: U.A.E. Established: 1976 10 | Rizwan Sajan Founder & Chairman, Danube Properties Country: U.A.E. Established: 2014 Click here to view the complete list of The Middle East's Most Impactful Real Estate Leaders 2025. About Forbes Middle East Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East's most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online. Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.
Zawya
19-03-2025
- Business
- Zawya
Bahrain's Bapco Energies completes $1bln sukuk issuance
Bahrain - Bapco Energies has successfully completed a $1 billion 10-year Reg S Sukuk issuance, alongside a capped tender offer for up to 25 per cent of its existing $1bn 7.5 per cent notes due 2027. The tender offer, launched on January 13, 2025, saw significant participation, with over $200m of notes tendered and accepted, culminating in a successful settlement on February 13, 2025. Bapco Energies returned to the international capital markets on January 16, 2025, with its $1bn 10-year sukuk offering. The issuance was met with overwhelming demand, attracting an order book exceeding $4bn, representing a four-fold oversubscription. This strong interest highlights investor confidence in Bapco Energies' robust market position and financial strength. The sukuk, issued under Bapco Energies' $3bn Trust Certificate Programme, was priced at a competitive 6.250pc profit rate, achieving the tightest spread to US Treasuries ever for a Bapco Energies issuance. The transaction drew a diversified global investor base, with 80pc allocated to GCC investors, 12pc to the UK, and 4pc each to US offshore and other markets. The parallel execution of the tender offer and sukuk issuance aligns with Bapco Energies' proactive capital structure optimisation and liability management, allowing for effective debt maturity management and enhanced financial flexibility. The repurchase of the notes supports Bapco Energies' long-term financial strategy, strengthening its balance sheet while maintaining liquidity for future strategic investments. Bapco Energies group chief executive Mark Thomas said: 'These transactions underscore our commitment to disciplined financial management and proactive investor engagement. The strong participation in the tender offer and the success of our sukuk issuance highlight Bapco Energies' resilience and the market's confidence in our strategy. We continue to position ourselves as a key player in Bahrain's energy transition and a trusted issuer in global capital markets.' The sukuk proceeds will support Bapco Energies' ongoing investment in Bahrain's energy infrastructure and strategic initiatives aligned with the kingdom's National Energy Strategy. Bapco Energies remains committed to opportunistically tapping global capital markets to optimise liquidity and funding costs, ensuring sustainable growth and financial stability. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
12-02-2025
- Business
- Trade Arabia
Saudi Electricity prices $2.7bn dual-tranche sukuk offering
Saudi Electricity Company (SEC) has announced that it has successfully priced a $2.75 billion dual-tranche senior unsecured RegS Sukuk under its international Sukuk Programme. The issuance consists of two tranches: a $1.25 billion 10-year green Sukuk tranche with a profit rate of 5.489% p.a., maturing on February 18, 2035, and a $1.5 billion 5-year conventional Sukuk tranche, maturing on February 18, 2030, with a profit rate of 5.225% p.a. According to SEC, the green tranche of this offering marks SEC's fourth green sukuk tranche under its Green Sukuk Framework, with proceeds allocated to financing or refinancing eligible green projects in renewables and energy efficiency. Since 2020, SEC has raised a total of $3.75 billion through green Sukuks, reinforcing its commitment to decarbonization and the continued expansion of its eligible green project portfolio. This supports SEC's net-zero ambition by 2050 and aligns with its ESG strategic objective of advancing Saudi Arabia's energy transition in line with Vision 2030, said SEC in a statement. On February 10, SEC held a virtual investor roadshow, attracting strong investor interest from Asia, Europe, and the Middle East. The issuance was successfully priced the following day in an intraday transaction, with the order book exceeding $12 billion, representing an oversubscription of 4.3 times, it added. According to SEC, the company maintains high investment-grade credit ratings from leading international rating agencies: Aa3 (stable) from Moody's, A+ (stable) from Fitch, and A (positive) from Standard & Poor's. On the successful sukuk, Acting CEO Engineeer Khaled Al Ghamdi said: "This issuance reaffirms the company's ability to attract strong investor interest in international markets, supported by its robust credit standing and pivotal role in providing sustainable and highly reliable energy solutions."
