Al Masaood Group has made it to the recently released Forbes Middle East’s top 100 Arab Family Businesses in 2021, reflecting anew its vast influence as one of the most important family-run conglomerates in the region. The Group was ranked 43rd and joined 25 family businesses from the UAE that have been included on the prestigious list.
The Group is a pioneer in the fields of automotive, power generation, marine solutions as well as logistics, business services, construction and real-estate. It was the first to be registered by the Abu Dhabi Chamber of Commerce in 1970 and over its 50 years of operations it has gone from strength to strength and continues to grow. The company has been continuously providing intelligent solutions to private and public sector entities. Its flagship brands are MTU, Volvo Penta, Leroy-Somer, Nissan, Infiniti, Renault, Bridgestone and UD Trucks.
“Being part of Forbes Middle East demonstrates Al Masaood’s continuing efforts to cement its leadership in various industries where it operates and expand its reach within and beyond the UAE shores. To be ranked alongside other top family businesses from the Emirates, Saudi Arabia, Egypt, and other Arab nations is an honour for our organisation. This is another accomplishment that will further motivate and inspire us to double down on our growth and development initiatives. Our goal is to achieve more business success stories that will help transform the region and solidify our legacy,” HE Masaood Ahmed Al Masaood, Chairman, Al Masaood Group, said.
Forbes Middle East annually releases its list of top 100 family-run Arab companies. To come up with its 2021 roster, it looked into key areas such as investments in regional and global stock exchanges, real estate assets, business and geographical diversification, types of business activity, and number of employees, amongst others. Also, part of the criteria included their capabilities during the pandemic and its business impact.