RIYADH: ARAB NEWS
Published — Sunday 23 June 2013
Last update 23 June 2013 6:21 am
Four of the Middle East’s top 10 most valuable brands are from Saudi Arabia, more than any other country, according to a recent study published by Brand Finance, described as the world’s largest independent intangible assets and brand valuation consultancy.
The study ranks the top 50 brands in the Middle East and North Africa (MENA) by their brand value. The $ 13.218 billion combined value of the 14 Saudi brands to feature constitutes 34 percent of the total value ($ 39.33 billion) of the top 50 MENA brands.
Saudi Telecom Company (STC), with $ 3.31 billion brand value, is ranked third in the 50 MENA brands list and holds the No. 1 position in the Kingdom. Other Saudi brands on the list include Mobily ($ 2.511 billion), Almarai ($ 1.505 billion), Al-Rajhi Bank ($ 1.192 billion) and Saudi Basic Industries Corporation ($ 979 million).
The top 10 of the annual list has generally been dominated by Emirates as well as telecom and bank brands. However this year there is a remarkable achievement from Saudi food brand Almarai, becoming the first non-bank and non-telecom brand to break into the top 10.
Almarai is clearly affirming its position as the most valuable food brand in the Middle East, with a astonishing brand value growth of 60 percent.
Of the 50 brands, 29 are from Saudi Arabia and the UAE, constituting 70 percent of the total brand value, a clear indication of the dominance of the two business powerhouses of the Middle East. The Kingdom has 14 brands in the top 50 compared to the UAE’s 15, but there are more Saudi brands in the top 10 and the Kingdom recorded the highest national brand value growth (11 percent).
Hany Mwafy, managing director, Brand Finance Middle East, said: "With offices in more than 22 countries, Brand Finance publishes its annual global and regional studies of the most valuable brands providing the business community with insights on top brands globally and as per markets. This MENA study being conducted annually since 2009 serves as a benchmark of top MENA brands according to sectors and countries."
The Brand Finance study was published in the MENA region in collaboration with Virtue PR & Marketing Communications.