Home Insights Revealed: Top 10 companies in the UAE in 2016 The biggest listed companies in the UAE as ranked by market capitalisation by Gulf Business November 27, 2016 UAE equity markets, both Dubai and Abu Dhabi, remained resilient to the fall in the oil price in H1 2016. The Dubai General Index and Abu Dhabi General Index registered year-to-date returns of 6.5 per cent and 1.9 per cent respectively. The better performance of telecom, banking and real estate stocks in UAE markets has been the major boosting factor to the country’s indices. Consolidation of the banking industry with the merger of two major banks, National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) and speculation of more consolidation in the banking industry has led to a buying splurge in the markets. Apart from banks, the financial services, telecommunications and construction sectors registered increases in earnings of 6.5 per cent, 16.4 per cent and 32.4 per cent respectively in H1 2016 (YoY). The UAE has also been implementing policy changes, such as the reduction of fuel subsidies to rationalise government expenditure and the implemention of taxes to boost government’s revenue. Further cuts to water and energy subsidies are expected, as well as the introduction of Value Added Tax (VAT) in 2018. To bridge its budget gap, the UAE has resorted to bond issuances in 2015 and 2016. Overall, the UAE’s concerted efforts towards economic diversification, Dubai’s image as the financial hub and business friendly environment in the region and possible consolidation in the banking sector have all bolstered investor confidence. TOP 10 COMPANIES IN THE UAE (By market capitalisation as of October 9, 2016. Source: Reuters Eikon, Markaz Research) 1. Emirates Telecommunications Group Co (Etisalat) Market capitalisation: $47.24bn Sector: Telecommunications Services 2. First Gulf Bank Market capitalisation: $13.85bn Sector: Banking & Investment Services 3. Emaar Properties Market capitalisation: $13.45bn Sector: Real Estate 4. National Bank of Abu Dhabi Market capitalisation: $12.34bn Sector: Banking & Investment Services 5. Emirates NBD Market capitalisation: $12.26bn Sector: Banking & Investment Services 6. Abu Dhabi Commercial Bank Market capitalisation: $9.72bn Sector: Banking & Investment Services 7. Emaar Malls Group Market capitalisation: $9.21bn Sector: Retail 8. Emirates Integrated Telecommunications Company (du) Market capitalisation: $7.84bn Sector: Telecommunications Services 9. Dubai Islamic Bank Market capitalisation: $6.93bn Sector: Banking & Investment Services 10. Aldar Properties Market capitalisation: $5.61bn Sector: Real Estate Tags Abu Dhabi Commercial Bank aldar properties Banking Du Dubai Islamic Bank Emaar Malls Group Emaar Properties Emirates Integrated Telecommunications Company Emirates NBD Emirates Telecommunications Group Etisalat First Gulf Bank list lists National Bank of Abu Dhabi Real Estate Retail Telecoms Top 10 Top 10 companies UAE Top 10 companies UAE 2016 0 Comments You might also like How REITs are unlocking the potential of UAE real estate How AI is transforming the retail experience: From fashion to ecommerce Arista Properties makes an inaugural entry into the UAE UAE’s Tabreed secures Dhs600m revolving credit facility