Dubai, the world-renowned shopping and tourism hub, is also a thriving business center that attracts multinational companies from all over the globe. With its strategic location, state-of-the-art infrastructure, and pro-business policies, Dubai has become a popular destination for many global corporations seeking to expand their operations in the Middle East. In this blog post, we will take a closer look at the top 12 multinational companies in Dubai that have made significant contributions to both the local economy and the global market. So buckle up and get ready for an exciting ride through some of the most successful businesses operating in one of the world’s most dynamic cities!
Top 12 Multinational Companies in Dubai – Dominating the Business Scene
1. Emirates Group
The Emirates Group is a Dubai-based aviation holding company that operates Emirates Airlines, one of the world’s largest airlines. The group also owns and manages several other businesses in the aviation and travel industries, including an aircraft leasing company, an airport management company, and a hotel chain.
The Emirates Group was founded in 1985 with just two aircraft. Today, the group has a fleet of over 250 aircraft and flies to more than 140 destinations across six continents. The group employs over 60,000 people from over 150 different countries.
The Emirates Group has its headquarters in Dubai and is a government-owned company. The group reported revenues of over US$31 billion in 2016/17.
2. Emaar Properties
Emaar Properties is one of the leading real estate companies in Dubai, with a portfolio that includes some of the city’s most iconic landmarks. These include the Burj Khalifa, the tallest building in the world, and the Dubai Mall, one of the largest shopping malls in the world. Emaar Properties has a strong commitment to sustainable development and offers a range of green initiatives that are helping to shape Dubai’s future as a leading destination for sustainable tourism.
3. DP World
DP World is a global port operator and logistics company headquartered in Dubai. On six continents, it runs more than 60 terminals. The company has a strong presence in the Middle East, Africa, Asia, Europe, and the Americas. One of the world’s largest operators of maritime terminals is DP World. In 2018, the company handled a total of 71 million TEUs (twenty-foot equivalent units).
DP World’s strategy is to focus on growth markets and expand its footprint in key logistics hubs. The company invests heavily in technology and innovation to improve efficiency and optimize operations. DP World is committed to sustainable development and aims to be one of the most efficient port operators in the world.
In 2017, DP World launched its initial public offering on the Nasdaq Dubai stock exchange. The Dubai Financial Market is where the company’s shares are traded.
4. Dubai World
Dubai World is a holding company that manages and operates a diverse range of businesses across the world, including real estate, ports, and tourism.
The company has a portfolio of businesses that span different industries, with a strong focus on growth and expansion. Dubai World has a global reach and is one of the most diversified companies in the world.
The company’s businesses are divided into four main categories:
- Real Estate: Dubai World’s real estate portfolio includes some of the most iconic properties in Dubai, such as the Burj Khalifa, Palm Jumeirah, and Jumeirah Beach Hotel. The company also owns and manages a number of other large-scale developments in Dubai.
- Ports: Dubai World operates a number of ports across the globe, including the Jebel Ali Port in Dubai, which is the largest man-made port in the world. The company also has stakes in other major ports such as Piraeus in Greece and Southampton in the UK.
- Tourism: As one of the leading tourism destinations in the world, Dubai World owns and operates a number of hotels, resorts, and attractions in Dubai. The company is also behind some of Dubai’s most popular events and festivals, such as the Dubai Shopping Festival and the Abu Dhabi Grand Prix.
- Other Businesses: In addition to its core businesses, Dubai World also has interests in a number of other businesses, including healthcare, education, logistics, and retail
5. Dubai Duty Free
Dubai Duty Free is a leading airport retailer that operates duty-free shops at Dubai International Airport. The company was founded in 1983 and is headquartered in Dubai, United Arab Emirates. Dubai Duty Free operates over 3,000 square meters of retail space at the airport and employs over 5,000 people. The company offers a wide range of products including cosmetics, fragrances, watches, jewelry, electronics, food, and beverages.
In 2016, Dubai Duty Free generated sales of $2.01 billion, making it the largest duty-free retailer in the world. The company has been ranked as the “World’s Leading Airport Retailer” for 25 consecutive years by World Travel Awards.
In Dubai, United Arab Emirates, there is a well-known real estate development business called Nakheel. The company was founded in 2004 and has since become one of the most prolific developers in the city, responsible for some of Dubai’s most iconic landmarks.
Nakheel’s portfolio includes the world-famous Palm Jumeirah artificial island, as well as the man-made islands of The World and The Universe. The company is also behind several hugely successful residential developments such as Jumeirah Islands, Jumeirah Village, and Nakheel Harbour & Tower.
In addition to its residential and commercial projects, Nakheel is also responsible for a number of leisure and hospitality developments including the award-winning Atlantis, The Palm resort.
With an impressive track record of delivering high-quality developments on time and on budget, Nakheel has established itself as one of the leading property developers in Dubai and a name synonymous with excellence.
7. Dubai International Financial Centre (DIFC)
DIFC was established in 2004 as a financial-free zone to attract international financial institutions to the UAE. The center is located in Dubai, on the site of the former Dubai World Trade Centre. DIFC covers an area of 27 square kilometers and is home to over 2,000 companies from more than 100 countries.
Banks operating in DIFC include HSBC, Citibank, Standard Chartered, and Emirates NBD. Insurance companies such as AIG, Marsh, and AXA have a presence in the center. Investment firms such as Blackstone, Carlyle Group, and KKR also have a base in DIFC.
8. Dubai Petroleum
Dubai Petroleum: Dubai Petroleum is an oil and gas company that explores, develops, and produces oil and gas in Dubai and the surrounding areas. The company also has a refining and marketing arm that supplies petroleum products to local and international markets.
9. Emirates NBD
Emirates NBD is a leading banking institution in the Middle East with a presence in 19 countries across the globe. The bank offers a wide range of personal, corporate, and investment banking services to its customers.
IBM is a multinational technology giant with operations in more than 170 countries worldwide. The company provides a range of services including computer hardware, software, cloud computing, and artificial intelligence.
11. Jumeirah Group
Jumeirah Group is a luxury hospitality company that owns and operates a portfolio of luxury hotels and resorts across the globe. The company is headquartered in Dubai and has properties in major cities such as London, New York, Istanbul, Frankfurt, Rome, Capri, Shanghai, and Singapore.
12. Majid Al Futtaim Holding
Majid Al Futtaim Holding is one of the leading diversified conglomerates in the Middle East with interests in retail, leisure & entertainment, automotive distribution & services, real estate development & management, healthcare & education. The conglomerate has operations in 15 countries across the MENA region including Egypt, UAE, Qatar, Bahrain Saudi Arabia & Lebanon.
Dubai has become a hub for multinational companies due to its strategic location, business-friendly policies, and world-class infrastructure. With its diverse workforce, multicultural environment, and tax-free status, Dubai offers a unique opportunity for businesses to thrive and expand globally. However, companies need to be aware of the cultural and legal differences in the region and adapt their strategies accordingly. With the right approach and a solid understanding of the local market, multinational companies in Dubai can achieve success and growth in the region and beyond.
FAQs on multinational companies in Dubai
1. Which is the biggest company in Dubai?
The biggest company in Dubai is Emirates Group, which is a diversified aviation and travel services company. It includes Emirates Airline, the largest airline in the Middle East, as well as several other businesses related to air travel and tourism.
2. How many multinational companies are in Dubai?
There is no definitive answer to this question, as the number of multinational companies in Dubai is constantly changing. However, according to some estimates, there are around 2,000 multinational companies operating in Dubai, representing a wide range of industries and sectors.
3. What big companies are based in Dubai?
Some of the biggest companies based in Dubai include Emirates Group, DP World, Dubai World, Emaar Properties, and Dubai Holding. These companies operate in a range of industries, including aviation, shipping, real estate, and finance.
4. What is MNC in UAE?
MNC stands for a multinational corporation, which is a company that operates in multiple countries around the world. In the UAE, there are many MNCs that have established a presence, either through direct investment or partnerships with local companies. These companies bring a range of benefits to the UAE, including job creation, technology transfer, and increased economic activity.