Dubai has become a powerhouse of business and innovation in recent years. Companies based in this vibrant city are no longer content with dominating the local market; they’re setting their sights on the global stage.
In this guide, we’ll explore the top 10 Dubai-based companies that are expanding their reach worldwide.
Why Dubai Companies Are Going Global
Before we dive into our list, let’s look at why Dubai-based companies are making such a splash internationally:
| Category | Details |
| Innovation Focus | Strategic location: Dubai is situated at the crossroads of Europe, Asia, and Africa, making it an ideal hub for business. |
| Innovative Mindset | The city fosters art and innovation, encouraging firms and industries to compete and be progressive. |
| Government Support | Dubai’s leadership strongly supports business development and international expansion. |
| Infrastructure | The city offers world-class infrastructure, including advanced ports and high-speed internet connectivity. |
Here below is the list of Top 10 Dubai-Based Companies Making Waves Globally in 2024
| S.No | Company | Key Highlights |
| 1 | The Emirates Group | Contributes $47 billion to Dubai’s GDP. Operates Bustanica, one of the largest hydroponic farms globally. |
| 2 | DP World | Contributes 23.8% to Dubai’s GDP. Offers complete supply chain solutions. |
| 3 | e& (formerly Etisalat) | Vodafone Group stake increased. Active investments in tech and innovation. |
| 4 | International Holding Company (IHC) | Workforce grew from 40 in 2019 to 85,000. Broad portfolio from energy to food and entertainment. |
| 5 | TAQA Group | A 43% stake in Masdar, a renewable energy company. Operates across electricity and gas distribution in EMEA. |
| 6 | Emirates NBD Bank | Operations extend to Egypt, India, and Turkey. |
| 7 | First Abu Dhabi Bank (FAB) | Committed to net-zero emissions by 2050. Targeting $75 billion in green financing by 2030. |
| 8 | Majid Al Futtaim Holding | Owns 29 malls, 13 hotels, and 4 mixed-use developments. Operates 400 Carrefour stores and 600 VOX Cinemas. |
| 9 | Emirates Global Aluminium (EGA) | Contributes 4% to global aluminum output. |
| 10 | ADNOC | Leading investments in hydrogen and renewable energy projects. |
1. The Emirates Group: Soaring to New Heights
First on our list is The Emirates Group, who without doubt is one of the biggest aviation conglomerates in the world.
Here’s what makes them stand out:
Today they have grown to become an international company in a little over 35 years after they were established in 1985.
They are not just an airline; they have units in logistics, education, retail sales, travel, and hotels.
Their flagship airline, Emirates Airlines, currently operates on 158 routes in 85 countries.
They run one of the largest hydroponic farms in the world, known as Bustanica.
The group accounts for $ 47 billion to the GDP of Dubai.
Recent achievements:
Record-breaking profits: This year’s hockey stick has forecasted to pay out more than $2.7 billion for only the first six months of 2023.
Sustainability focus: An industry commitment of $200 million spread over 3 years to enhance aviation’s contribution to sustainable development.
Expansion plans: They recruited many people for their force and incorporated new planes into their expansion.
2. DP World: Connecting the World’s Trade
Next up is DP World, a company that’s revolutionizing global trade:
This company began operating in 1972 as single port and is based in Dubai.
Now active in 150 firms on 6 continents.
They’re not only in operations that are port-related – they are in the supply chain business, the marine support business, and the information technology business.
Isolated employment makes a considerable contribution of 23.8 percent to the GDP of Dubai.
Key developments:
Emphasis should be placed on margin freight and marketed all-inclusive logistics solutions that can possibly deliver the complete supply chain service.
Asset monetisation averaged $500 million plus per month and exceeded $8 billion in a year.
Listed a $1.5 billion Green Sukuk on Nasdaq Dubai to support sustainability goals.
Aiming for carbon neutrality by 2040 and net zero emissions by 2050.
3. e&: From Telecom Giant to Tech Conglomerate
Formerly known as Etisalat, e& is transforming the tech landscape.
Since its establishment in 1976, it has gone from being a local company to a multinational technology company.
Recent moves:
Previously known as Etisalat but changed to e& earlier this year to reflect their interest in other technology areas.
Vodafone Group stake ownership by other shareholders has been on the rise.
Invested in Careem that develops a super app for the Middle East.
Introduced end-to-end charging solutions for electric vehicles.
4. International Holding Company (IHC)
Originally a seafood exporting company, GEA has transformed into what is today the fourth most valuable company in the Arab world.
Market cap of $238.8 billion.
Within this organisation, the workforce expanded from forty in 2019 to 85,000 in the present day.
Impressive growth:
- The net annual profits were up by 181 % in 2022.
- Broad product line covering utility products and energy products to food products and entertainment products.
- Eight subsidiary companies are delineated here as Palms Sports and Ghitha is one of them.
5. TAQA Group: Powering the Future
TAQA is leading the charge in the energy sector.
Founded in 2005 as a PLC (public limited company).
A leading multi-technical services partner in the distribution of electricity and gas in the EMEA region.
Business functioning in eleven countries.
Recent developments:
- They bought a 43 percent stake in Masdar, a renewable energy company.
- Signed a 50/50 joint venture E2GO with ADNOC Distribution to develop the infrastructure for the electric vehicles.
- It issued its first green bond last year in the amount of $700.8 million.
6. Emirates NBD Bank: Banking on Success
Emirates NBD is proving that local banks can compete on the global stage.
The National Bank of Dubai and Emirates Bank International merged in 2007 to come up with this bank.
Dubai’s largest lender.
Business in Egypt, India, and Turkey involved in its operations that had to be addressed.
Recent achievements:
- Reported its highest nine-month profit of $4.76 billion in 2023.
- Leverage the use of technology and sustainable finance.
- Offering services beyond our regions and advancing online presence.
7. First Abu Dhabi Bank (FAB): Safety First
While technically based in Abu Dhabi, FAB’s influence extends to Dubai and beyond.
- The largest bank by assets in the UAE.
- Named the safest bank in the Middle East by Global Finance Magazine.
- Presence in 20 markets.
Key highlights:
- 46% jump in Q3 2023 net profit to $1.17 billion.
- First bank in the GCC to commit to net zero by 2050.
- Target of $75 billion in green financing through 2030.
8. Majid Al Futtaim Holding: Retail and Leisure Pioneer
From one man’s vision to a regional powerhouse: Leading shopping malls, communities, retail, and leisure pioneers across MEA and Asia. Spans 16 markets, serving 600 million customers. Owned assets registered at the sum of 18 billion dollars.
Usual business: Manages 29 shopping malls, 13 hotels, and four mixed-use developments. Operates 400 carrefour chains across 30 markets. Operates more than 600 VOX Cinemas.
9. Emirates Global Aluminium (EGA): Shining Bright EGA carried
UAE into the world of aluminium producers It has vaulted the rank of the UAE to the fifth largest next to China in the league of aluminum smelting. This statistic indicates that 4% of the globe’s aluminium burning was born by them. This is the largest industrial corporation in the UAE besides oil and gas industries.
Sustainability focus: NET ZERO: it is projected that by 2050, there will be no GHG emissions from operations and the users of the supplied fuel. Uses locally developed technology for competitiveness and environmental protection.
10. ADNOC:
Energizing the Future We will finish our list with ADNOC, an energy colossus:
One of the leaders in energy production across the globe. Invested in all elements of the hydrogen value chain. Is much involved in the latest development and rise of Abu Dhabi since the 1970s.
Recent moves:
Bought a stake in the gas field located in Azerbaijan. In negotiations for purchasing German company Covestro, which specializes in plastics.
Anticipates cutting down greenhouse gas emissions intensity by 25% by the year 2030.
Seeks to install renewable energy amounting to 100 GW till the year 2030.
Investing $15 billion on climate change activities.
What These Companies Have in Common
While each of these Dubai-based companies operates in different sectors, they share some key traits that contribute to their global success:
| Aspect | Description |
| Innovation Focus | Companies are at the forefront of technological advancements in their respective fields. |
| Sustainability Commitment | Efforts include green bonds, renewable energy investments, and addressing climate change proactively. |
| Diversification | Many firms have expanded beyond their core businesses to explore new opportunities and markets. |
| Strong Financial Performance | Record-breaking profits and robust growth demonstrate their financial strength. |
| Global Mindset | These companies aim for global impact, moving beyond regional successes to make a mark internationally. |
The Impact on Dubai’s Economy
- The success of these companies goes beyond more revenue and profits; it is beneficial for the whole of Dubai as follows:
- Creation of employment opportunities: With the growth of these companies, thousands of new jobs are created.
- Decreasing resource monopoly: They are assisting Dubai in reducing its overdependence on oil.
- Skyline of the city: Their success improves the perception of Dubai as the center of international business.
- Technological culture: Their concentration on technology along with innovation creates new culture in the city.
Challenges and Opportunities Ahead
While these Dubai-based companies are riding high, their challenges include:
Uncertainty in the global economy: Instability in the world’s economy may hurt their plans of expansion.
Technological disruption: It is disruption in technology that keeps one ahead in the race.
Sustainability pressures: It is challenging to balance ambitious climate targets with the need for continuous growth.
Geopolitical tensions: The complication of political landscapes while operating in several countries.
Yet, these challenges provide some kinds of opportunities:
Emerging markets: most of the companies within this peer group are well-positioned for growth in developing economies.
Tech leadership: In fact, their sharp focus on innovation may soon make them leaders in emerging technologies around the world.
Sustainability solutions: by taking up the challenge of climate head-on, relevant expertise and technologies can be developed.
Cultural bridge; their international operations allow them to act as a cultural and economic bridge between different parts of the globe.
Conclusion
These ten companies from Dubai are not just successful businesses but ambassadors for Dubai to the rest of the world. Be it in the skies, as with Emirates, in the seas, as with DP World, from the digital realms, as with e&, to the shopping mall, which is Majid Al Futtaim, they show them what Dubai is capable of.
These Dubai giants continue to expand and evolve, changing not only their respective industries but also reshaping the global business landscape as they grow and evolve further.
