Telecom providers lead the 2023 ranking of the Kantar BrandZ Top 30 Most Valuable Emirati & Saudi Brands. Saudi brand STC holds on to its number one position overall for the third year with a brand value of $13.7 billion. Etisalat by e& is the most valuable Emirati brand, worth $9.5 billion. 

Collectively, the top 30 Kantar BrandZ Emirati and Saudi brands are worth more than $94.2 billion, equivalent to 5.8% of the two countries’ combined GDPs. They have retained more of their value over the last year than their peers, in the face of the worldwide economic slowdown, with a decrease of 11% compared with 2022. This is a smaller drop than the top 30 brands in China, Italy, and the UK.

Stability is also in evidence, with 29 of last year’s 30 ranked Saudi and Emirati brands returning once again in 2023. The sole newcomer is retailer Nahdi, a pharmacy retailer that made a big entrance at No.7 in the Saudi ranking with a brand value of $2 billion. With a mission to transform access to healthcare services, Nahdi offers an innovative omnihealth experience. Over the last year, it has opened more large-format ‘pharmacies of the future’, while expanding its private label, e-pharmacist, and home delivery services.

Two categories predominate in the rankings: Financial Services and Telecom Providers, which together are responsible for nearly three-quarters of the total brand value. The financial services category has the highest representation, with 13 brands, and is the most valuable category, contributing 44% of the overall value. Five categories have grown, four in double digits: food and beverages (7%), energy (14%), real estate (16%), retail (30%) and travel services (69%).

All three real estate players have grown: Dar Al Arkan (+34%), Emaar Properties (+16%), and Aldar (+5%). These brands have looked beyond realizing short-term gains tied to higher property prices, with the goal to build long-term brand equity by transforming how, and where, people live. 

Most Valuable Emirati Brands

Etisalat by e&'s new brand identity highlights its expansion into a wider range of services – including iZone, a system of Wi-Fi hotspots in locations such as shopping malls, restaurants, and sheesha cafes.

The top riser is Emirates Airlines (No.3; $5.4bn), with a year-on-year brand value increase of 69%. Consumers view Emirates as the most differentiated brand in the Emirati Top 10 ranking. 

The Kantar BrandZ Top 10 Most Valuable Emirati Brands 2023

Rank 2023	Brand	Category	Brand Value 2023 (USD mil)	% Brand Value Change YoY
1	Etisalat by e&	Telecom Providers	9,498	-20%
2	FAB	Financial Services	5,692	-26%
3	Emirates	Travel Services	5,411	69%
4	ADNOC Distribution	Energy	3,667	14%
5	Emaar	Real Estate	3,531	16%
6	Du	Telecom Providers	1,719	-19%
7	ADCB	Financial Services	982	-6%
8	Emirates NBD	Financial Services	860	-5%
9	Aldar	Real Estate	761	5%
10	Dubai Islamic Bank	Financial Services	643	4%

 

Most Valuable Saudi Brands

The number one brand, STC, has launched products and services across multiple digital platforms to meet people’s evolving needs, including personal payment solutions and entertainment. This has helped it to build an emotional affinity with consumers, beyond meeting their functional expectations. The brand’s sustainability activities include investing in education and health, expanding telecom access to remote areas, and facilitating instant payments.

Two Saudi brands have grown their value by 34%. Real estate brand Dar Al Arkan (No.17; $573m) is known for being an innovation hub. Recently, it constructed the world’s tallest 3D-printed building in Riyadh. Saudia Dairy (No.20; $547m) has rebranded to reflect Saudi Arabia’s Vision 2030 strategy. 

The Kantar BrandZ Top 20 Most Valuable Saudi Brands 2023

Rank 2023	Brand	Category	Brand Value 2023 (USD mil)	% Brand Value Change YoY
1	STC	Telecom Providers	13,696	-15%
2	Al Rajhi Bank	Financial Services	12,564	-21%
3	Saudi National Bank	Financial Services	11,141	-30%
4	Almarai	Food and Beverages	3,442	4%
5	Mobily	Telecom Providers	3,105	-4%
6	Jarir Bookstore	Retail	2,037	-18%
7	Nahdi	Retail	2,030	N/A
8	Riyad Bank	Financial Services	1,897	-8%
9	BUPA Arabia	Financial Services	1,815	15%
10	Alinma Bank	Financial Services	1,687	-3%
11	Bank Albilad	Financial Services	1,412	-3%
12	SAB	Financial Services	1,366	-5%
13	Al Othaim	Retail	923	8%
14	Jahez	Consumer Technology and Services Platforms	708	-50%
15	Arab National Bank	Financial Services	702	-2%
16	Tawuniya	Financial Services	685	19%
17	Dar Al Arkan	Real Estate	573	34%
18	Extra	Retail	563	-16%
19	Panda	Retail	551	-19%
20	Saudia	Food and Beverages	547	34%

Other key highlights from the report include:

• The Top 30’s three-year growth is more than twice that of the Global Top 30. Between 2020 and 2023 the brands in the combined rankings have grown their total value by 87%, compared with 40% for the Global Top 30.
• Three quarters of the Emirati and Saudi Top 30 score high on Pricing Power. The strongest brands have the ability to justify charging a premium by being seen as ‘worth it’; being Meaningful and Different are by far the most important drivers of a consumer’s willingness to pay more for a brand.
• Sustainability contributes 8% of the overall brand equity for the Emirati and Saudi Top 30. However, seven of the most valuable Emirati and Saudi brands lack strong sustainability credentials, showing that there are opportunities for those who invest in making improvements in this area.

Amol Ghate, Kantar’s Managing Director, MENAP Insights Division says, “Saudi and UAE are the biggest economies in the Middle East, and the mood is optimistic for future growth. As the markets continue to implement large-scale economic development plans, huge opportunities abound for brands: in fact, brand building is a key pillar of both countries’ strategies. Brands must devote significant effort to understanding how Saudi and Emirati consumers’ mindsets and spending habits are evolving, as many of the parameters of their lives change.”