37 Saudi companies made the 2017 Forbes list of the 100 biggest companies in the Arab world. Saudi chemicals company SABIC tops the list.
Forbes Middle East has published its list of the 100 top companies in the Arab world. The ranking takes four factors into consideration: sales, profits, assets and market value. It scanned 1300 firms listed on Arab stock markets to produce the results.
SABIC, a public company and global chemical leader based in Riyadh tops the list. Other noteworthy Saudi companies include:
- number 8 : Saudi Electricity, which rose two spots from 2016
- number 17 : Saudi British Bank, with over $49.6 bn in assets
- number 66 : Kingdom Holding Company, with an estimated market value of $10.4 bn
- number 94 : Saudi Ground Services, a company providing handling services at the Kingdom’s commercial airports
- number 97: Advanced Petrochem, a Saudi joint stock company established in 2005
Almost half of the companies listed by Forbes are in the banking and financial services sector. Given the rise in oil prices worldwide, the aggregate value of these 100 companies is estimated at $711 billion in April 2017, rising 12% above last year’s figures.