UAE Titans Dominate Forbes’ 2025 Middle East Real Estate Rankings

The latest Forbes Middle East ranking of the most influential real estate leaders in the region has been released, and as usual, it reveals some fascinating insights about a sector that continues to thrive across the Middle East and North Africa. Real estate certainly seems to have hit a purple patch in 2024—last year saw significant growth, record-breaking investments, and increasing investor confidence across the region.

At the top of this year's 2025 rankings sits Hussain Sajwani, founder and chairman of DAMAC Properties in the UAE. Sajwani had a sensational year: his net worth pretty much doubled, jumping from $5.1 billion in March of 2024 to $10.2 billion by March this year. He hit a notable personal milestone recently as DAMAC announced its largest-ever international Sukuk issuance, raising a whopping $750 million for 3.5 years earlier this February. Quite an achievement considering the volatile market these days.

Coming in at number two is Mohamed Alabbar, the charismatic founder and managing director of Emaar Properties, followed closely behind by Aldar Properties CEO Talal Al Dhiyebi, securing third place. It's interesting to note that the top three leaders in the rankings all hail from the UAE, further cementing the Emirates' position as something of a property powerhouse in the region.

In fact, the UAE dominates the Forbes list with 42 influential executives, followed by a solid presence from Saudi Arabia (21) and Egypt (16). It’s clearly a case of location, location, location—sorry, couldn't resist!

Joining Sajwani among the billionaire club on the list are four other real estate heavy hitters, including Alabbar, with a personal wealth estimated at around $2.3 billion. There's also big-hitter P.N.C. Menon of Dubai-based Sobha Group, with $3.4 billion; Kabir Mulchandani of FIVE Holdings at $2.2 billion; and Egypt’s Yasseen Mansour from Palm Hills Developments, who clocked in with a tidy sum of $1.2 billion. Collectively, these five billionaires hold fortunes totalling around $19.3 billion.

Mohamed Alabbar

Beyond these seasoned moguls, the list includes a real mix of venerable old companies and fresh-faced newcomers. Bahrain-based Kanoo Real Estate, led by CEO Mohamed Abdulrahman AlKooheji, is the oldest player on the list, established all the way back in 1890. At the other end of the spectrum, the newest arrival is One Developments from the UAE, founded in 2024 by Ali AlJabaili—fresh blood always humbles the old guard a bit, doesn’t it?

In terms of criteria, Forbes’ researchers have done their homework. They've taken into account leaders' experience, the total value or size of completed and ongoing projects, the financial position of their companies (assets and revenues, where publicly available), along with land holdings and number of owned units.

Looking ahead, Forbes Middle East plans to keep the conversation going about real estate prospects with its "Building the Future" summit scheduled for Abu Dhabi on 26th and 27th May 2025. Shortly afterwards, they'll also host the first-ever edition of the summit in Tripoli, running from 29th to 30th of May. If you're keen on following real estate trends, these dates might be worth jotting down.

As our friends over at Arageek like to say, the Middle East real estate market isn’t for the faint-hearted—but judging by the names topping this year’s rankings, it certainly does reward vision and ambition.

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