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Leading Emirati, Saudi brands double value in 2 years

Among the top 10 UAE brands, there are four banks – FAB ($7.7 billion), ADCB ($1.04 billion), Emirates NBD ($904 million) and DIB ($619 million) – while Adnoc came in third ($3.2 billion) and Emirates at fourth ($3.2 billion)

Published: Wed 2 Nov 2022, 5:38 PM

Updated: Sat 12 Nov 2022, 1:37 PM

By
Issac John

Valued at $11.8 billion, Etisalat, the top UAE brand, comes from the telecom sector and has rebranded at a group level as e& which is in line with the group's recent positioning as a global technology and investment conglomerate that digitally empowers societies. — File photo

Leading Emirati and Saudi brands have more than doubled their total value in the last two years, growing faster than any other global ranking done by Kantar, a leading marketing data and analytics company.

The value of the most valuable Emirati and Saudi brands assessed by Kantar BrandZ has grown by 110 per cent, “helped by consistent investment in infrastructure and the shared goal of economic diversification in the UAE and Saudi Arabia. The rate of growth is well ahead of the next-best performing market, India, which achieved 82 per cent growth in brand value over the last two years,” Kantar BrandZ said.

Real estate leader Emaar (No.10; $3.0 billion) experienced a 67 per cent rise in brand value since 2020, and has developed its reputation for many of the more innovative and distinctive developments across the region.

STC, the Saudi telecom brand, is the most valuable brand in the overall ranking, increasing its brand value to $16 billion (+66 per cent). The Saudi telecom provider has benefitted from both the rollout of 5G, as well as a major diversification in its offer to include digital payments and entertainment services.

Amol Ghate, managing director, Middle East, North Africa & Pakistan, Insights Division at Kantar, said strong brands are the key to unlocking growth, but this growth happens by design, not by chance.

“The risers in our current ranking have invested in growing their equity by strengthening their meaningful difference, and then ensuring this is amplified by becoming more salient. Meaningful differentiation comes from creating new categories, expanding footprint or providing greater value for customers. That trajectory is amply demonstrated by brands across different categories in this year’s Kantar BrandZ ranking,” Ghate said.

Newcomers to the ranking include newly merged Saudi National Bank (No.2; $15.9 billion), which was formed from the merger of National Commercial Bank (NCB) and Samba, real estate brand Aldar (No.22; $725 million) and banking brand ADIB (No.29; $457 million).

Online food-delivery platform Jahez enters at No.18, with a brand value of $1.4 billion, and has expanded into new cities and new categories, creating new markets in partnership with grocery and non-food retailers. It has also established PIK, a direct commerce platform, which allows local merchants to reach more consumers.

Saudi Arabia’s banking sector saw the fastest risers in the 2022 ranking, with triple-digit growth for the likes of Al Rajhi Bank (No.3; $15.8 billion) which was up by 234 per cent, Al Bilad Bank (No.16; $1.4 billion, +211 per cent) and Alinma Bank (No.14; $1.7 billion, +139 per cent).

— issacjohn@khaleejtimes.com