As of 2025, the total market capitalisation of 137 listed real estate businesses on MENA’s major stock exchanges was USD 157.8 billion. With 54.5% of the overall market capitalisation, the top five hold more than half of the market.
Emaar Properties
With a USD 32.5 billion market capitalisation, Emaar Properties, which was established in 1997 and is best known for building the Burj Khalifa and Dubai Mall, is the most valuable real estate firm in the Middle East and North Africa (MENA) region. It has sold more than 171,200 units worldwide and delivered more than 118,400 units since 2002.
With USD 43.6 billion in total assets, it generated its highest-ever revenues of USD 9.7 billion in 2024. The group owns more than 1.7 billion square feet of land. It paid USD 26.1 billion for the development of 141 million square feet of prime Dubai land in 2025. In June 2025, Emaar Malls unveiled a USD 408 million Dubai Mall expansion with 240 new retailers.
Aldar Properties
Aldar Properties was founded in 2005, and in 2024, its revenue increased by 62% to USD 6.3 billion. Its investment properties portfolio expanded to USD 11.4 billion, and its net income rose by 47% to USD 1.8 billion. Aldar Properties purchased a USD 626.3 million commercial tower in the Dubai International Financial Centre in December 2025. It is expected to be finished in 2028.
Modon Holdings
With a USD 13 billion market capitalisation, Modon Holding, which changed its name from Q Holding in March 2024, is the third-biggest real estate company in the Middle East and North Africa region. Reem Hills, Nawayef Park Views, and Maysan are among its properties in the United Arab Emirates (UAE).
It built five new real estate projects on Hudayriyat Island and Reem Island, generating USD 3.5 billion in sales, and generated USD 1.8 billion in revenues in 2024, a 637% increase, fuelled by the acquisition of ADNEC Group and Modon Properties. In 2025, it made key investments in Egypt, Spain, the United Kingdom, and Morocco to further broaden its worldwide reach.