The Arenco Real Estate award was presented to Mr Nayef Al MoosaArenco Real Estate, part of A.A. Al Moosa Enterprises, has been ranked among the top 10 unlisted private real estate companies in the Middle East, according to the latest rankings held by Forbes Middle East magazine in an exclusive ceremony in Dubai.
The Arenco Real Estate award was presented to Mr. Nayef Al Moosa, in the presence of Mr Mahmoud Hesham El Burai, CEO of Dubai Real Estate Institute, Mr Shaji Mulk, Chairman and CEO of Mulk Holdings and Mr Krishna Natarajan, Head of Sales Forbes Middle East.
Of the 40 unlisted real estate developers, 25 made it to the top from UAE, and Arenco was recognized among the top ten, along other entries included WASL Asset management Group, Dubai Properties, Al Futtaim Group Real Estate developers and others.
ARENCO Real Estate was founded in 1975 and has built its reputation for superior quality, excellent services and open book integrity in residential housing, commercial, retail, and office development markets. Currently, it has an inventory of 3,056 apartment units, 850 offices and showrooms, 503 villas, 50 warehouses and 25 buildings for staff accommodation across Dubai.
Arenco also owns prestigious hotel names in the region which are managed by Hilton, Starwood, Marriott, Taj, Wyndham and IHG.
All the data of the unlisted companies was based on the circulated questionnaire held by Forbes which ranked the corporates that responded or disclosed information on the value of projects under construction, number of employees and the age of the company.
The annual award organized by Forbes magazine, a leading source for financial and business news and information, was held at an exclusive ceremony for the second year running, unveiling the Arab World's Top 100 Real estate companies, and highlighting the contribution of the real estate industry to the economic development of the Arab world.