RIYADH — The Kingdom led the Forbes list featuring 59 Saudi companies with a combined recent market value of $436.5 billion. At a glittering awards ceremony held in Dubai's business district, Forbes Middle East celebrated the best-performing companies in the region and revealed the much-awaited ranking of the Top Companies in the Arab World 2015, according to a press statement released on Wednesday. A total of 10 countries were represented in the list. Together, their combined 2014 revenue stood at $348 billion and net earnings, $70.7 billion. GCC companies dominated the lineup, with the top 10 companies including five entries from Saudi Arabia, four from the UAE, and one from Qatar. Once again, Saudi Arabia's SABIC topped the list with $50.4 billion in revenue and an asset base of $90.9 billion. Qatar's QNB took second place followed by UAE telecom giant Etisalat. Last year's No. 2, Saudi Telecom, found itself on fourth place for the 2015 list, followed by Saudi Electricity. In terms of number of entries, Saudi Arabia dominated not just the top 10, but the overall ranking. Represented by 59 entries on the list, the combined recent market value of this year's Saudi companies stood at $436.5 billion, with $159 billion in revenue. Similar to the Top Companies in the Arab World 2015 ranking, Saudi Arabia and the UAE led the way in the Top Private Companies Making an Impact. Some 40 percent of companies on the 100-strong list are based in Saudi Arabia, while 27 percent call the UAE their home. Topping the ranking is Kuwait's Mohammed Abdulmohsin Al-Kharafi & Sons. It is followed by Saudi Binladin Group and the UAE's Al-Futtaim Group. In fourth and fifth place are Saudi companies Dallah AlBaraka Holding and Zamil Group Holding. The diversified sector dominated the list, with 64 percent of entries showing diversified business interests. Retail, the second-most featured sector in the ranking, makes up 9 percent of the list, followed by real estate & construction with 8 percent.
