Page 95 - SGH PR REPORT - MARCH 2024

3/25/24, 1:32 PM Forbes Middle East reveals the top 100 Arab Family Businesses 2024
of $5.8 billion as of February 2024, making them the richest Arab family featured on this
year’s list.

From traditional real estate to hospitality investments, the family businesses on this list

have stood the test of time, with six being established in the 1800s and 26 established
before 1950. Just six were established in the 2000s, all of which were formed due to a split

or sale of an earlier business or consolidation of pre-existing assets to form a holding

group. For instance, Morocco’s O Capital Group was founded in 2021 when Holding
Benjelloun Mezian merged with FinanceCom in the same year. In contrast, Oman-based

Towell Group is the oldest family business in the ranking, with roots dating back to 1866.

Backing sustainable operations with substantial capital has been a consistent priority for

several of the 2024 listees. For example, AlNowais Investments Group has over 1,230MW

of clean energy projects in Africa, Burkina Faso, Egypt, Jordan, Morocco, and Togo, either
in operation or under construction. Meanwhile, Alfardan Group signed an MoU with

Electronics Recycling Factory to develop environmental sustainability and encourage e-
waste recycling in June 2023. Similarly, the Safari Group and the Knauf Group agreed in

December 2023 to invest in and build a new state-of-the-art plasterboard production

facility that will significantly reduce energy and water consumption.

Click here to view the complete list of the Top 100 Arab Family Businesses 2024.

Top 10 Arab Family Businesses In The Middle East 2024

1| Abdul Latif Jameel
Country: Saudi Arabia

Established: 1945

2| Al-Futtaim Group
Country: U.A.E.

Established: 1930s

3| Mansour Group
Country: Egypt

Established: 1952

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