Leaders from Ras Al Khaimah’s’ Marjan, RAK Properties and Al Hamra Group qualify to the top 100 list!
Forbes Middle East has unveiled its 2025 list of the 100 Most Impactful Real Estate Leaders in the region, highlighting key developers and decision-makers who are shaping the skylines of the Middle East. The ranking considers factors such as years of experience, the value of completed and ongoing projects, financial metrics like total assets and revenues, as well as the size of landbanks and the number of units owned.
The UAE leads the list with 42 leaders from companies based in the country, followed by Saudi Arabia with 21 entries and Egypt with 16.
At the forefront of the ranking is Hussain Sajwani, the Founder and Chairman of Damac Properties. In a significant move, Damac announced the pricing and settlement of its largest Sukuk to date, a $750 million senior unsecured three-and-a-half-year Reg S Sukuk, in February 2025. Sajwani’s net worth has seen remarkable growth, doubling from $5.1 billion in March 2024 to $10.2 billion by March 2025.
Following Sajwani is Mohamed Alabbar, the Founder and Managing Director of Emaar Properties, in second place, and Talal Al Dhiyebi, Group CEO of Aldar Properties, in third. All three leaders are based in the UAE, underscoring the nation’s status as a dominant real estate hub in the region.
The real estate sector in the UAE continues to thrive, highlighted by the presence of prominent billionaires leading significant companies in the region. Among them, Hussain Sajwani, the founder of DAMAC Properties, stands out as a key player. As of March 2025, Forbes recognizes four other billionaires in the UAE real estate market: Mohamed Alabbar of Emaar Properties, PNC Menon of Sobha Group, Kabir Mulchandani of Five Holdings, and Yasseen Mansour of Palm Hills Developments. Together, these five individuals boast a combined fortune of approximately $19.3 billion, underscoring the substantial financial influence they wield in the industry.
Arch. Abdulla Rashed Al Abdouli, CEO of Marjan, Mr.Sameh Muhtadi, CEO RAK Properties and Mr. Benoy Kurien Group CEO Al Hamra Group from the Emirate of Ras Al Khaimah qualify to the top 100 impactful leaders list.
The list of real estate developers is diverse, showcasing both long-established companies and newer ventures. Kanoo Real Estate, managed by Mohamed Abdulelah Al Kooheji, is noted for its longevity, having been founded in 1890, making it the oldest developer featured. In contrast, ONE Development, led by Ali Al Gebely, represents the next generation of developers, having been established only in 2024.
Forbes Middle East is poised to facilitate discussions on the future of the real estate industry through its upcoming ‘Building the Future Summit’ in Abu Dhabi scheduled for May 26–27, 2025. This will be followed by the first edition of the summit in Tripoli on May 29–30, 2025, indicating a commitment to fostering dialogue and innovation within the sector.
