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The business world in the Middle East is full of history, culture, and great successes. This year's list of the Top 100 Arab Family Businesses by Forbes Middle East has put some of the region's most powerful businesses in the spotlight and given interesting details about how they work and their goals. Saudi Arabia and the UAE are the top 10 Arab Family Businesses on the list, and these businesses tell a story of diversity, heritage, and innovation.
Mansour Group is a giant in its own way. It was founded in Egypt, but it has grown to have a large influence around the world.
Al-Futtaim Group is based in the United Arab Emirates. It has a wide range of businesses, which shows its impact in the area.
This business is the only one in the top 10 run by a woman, Lubna Olayan. It shows how women can lead in a usually male-dominated field.
This company's long history and forward-thinking goals further prove the United Arab Emirates' (UAE) prominence in the economic world.
Majid Al Futtaim Holding is a major player in the global economy, and its name has become linked with progress and innovation.
This corporation stands for Saudi Arabia's powerful economic environment and has a long history and ambitious future plans.
Al Muhaidib Group has become an ambassador for entrepreneurship and ambition in Saudi Arabia and internationally.
Another Saudi Arabian royal jewel, SEDCO, reflects the country's long tradition of commercial success.
Al Ghurair Group is a diverse firm that has become a powerhouse in the United Arab Emirates.
Al-Faisal Holding, representing Qatar, is a regional symbol of innovation and foresight.
For these top 10 Arab Family Businesses, there are a lot of development opportunities in the field of sustainability, particularly regarding environmental awareness. Currently, social issues are prioritised over environmental ones in many Arab family enterprises. One indicator is that just 11% of businesses have established concrete environmental goals. The good news is that when businesses pass from generation to generation, there is a noticeable trend towards more sustainable methods. Adopting environmentally friendly techniques and decreasing carbon footprints will be crucial to connecting with contemporary consumers.
While several companies on the list have outstanding histories and development trends, they are still operating in more conventional industries. They haven't yet fully ridden the tsunami of technological innovation that is reshaping sectors throughout the world. These family companies confront the difficulty of adjusting as technology continues to disrupt their industry.
Even though there are still challenges, the top 10 Arab family businesses set the pace for other businesses in the Middle East. Their future success will depend on how well they can balance their rich histories with the needs of a business world that is changing quickly. Based on what they've done in the past, we can still be hopeful about their growth and new ideas.