First BrandZ ranking of most valuable Saudi brands to be released

Updated 24 March 2017

First BrandZ ranking of most valuable Saudi brands to be released

The first-ever BrandZ Top 20 Most Valuable Saudi Arabian Brands ranking will be released on Tuesday by WPP and Kantar Millward Brown in collaboration with King Abdullah Economic City (KAEC).
It is the only brand valuation ranking that combines the perceptions of Saudi consumers with financial data, making it the definitive cross-category study of the most accomplished brands in the Arabian market.
The launch of the ranking includes a detailed report that analyzes the success of the top 20 brands and identifies the key forces driving brand growth in the Kingdom.
The ranking for Saudi Arabia is the fifth in the BrandZ family of brand valuations, which includes the Top 100 Most Valuable Global Brands, Top 50 Indian Brands, Top 50 Latin American Brands, the Top 50 Indonesian Brands and the Top 100 Chinese Brands.
The release of Brand Top 20 Most Valuable Saudi Arabian Brands ranking is supported by the Ministry of Commerce and Investment, Prince Mohammad bin Salman College of Business & Entrepreneurship and KAEC.
Piotr Chodakowski, country manager, Kantar Millward Brown, said: “Saudi Arabia is already the dominant economy in the Middle East and a G20 nation which is in the midst of social and economic change on a massive scale, making it an attractive long-term market for global and local brands alike. This is the first edition of an annual study that will track and anticipate the rapidly-evolving environment for these brands, and chart their changing value.”
It is expected that there will be continuing growth in consumer demand in the Kingdom as the government continues to implement its Vision 2030 program to diversify the economy and stimulate private sector activity.
This provides opportunities for start-ups to grow into strong national brands, while also providing an opportunity for international companies to play a role in the Kingdom’s transformation.
Saudi Vision 2030 targets include increasing the private sector’s contribution to GDP from 40 to 65 percent, while boosting home ownership and increasing household spending on culture and entertainment represent opportunities for brands. The government has set a target of 80 percent of retailing comprising modern trade and e-commerce by 2030.
The BrandZ Top 20 Most Valuable Saudi Arabian Brands 2017 report will include knowledge and insight to help brands successfully navigate this environment.

Dubai to host Mideast’s first dinosaur auction

Updated 18 August 2019

Dubai to host Mideast’s first dinosaur auction

A massive 155-million-year-old dinosaur skeleton will be up for grabs for lovers of rare collectibles as Emirates Auction announced it will organize the Middle East’s first auction to sell the giant dinosaur skeleton. 

The online auction will be conducted by Emirates Auction, which specializes in organizing and managing public and electronic auctions, at a starting value of 14.6 million dirhams (SR14.9 million, $4 million) and will end on Aug. 25. 

The 24.4-meter-long by 7-meter-high skeleton, which dates back to the Jurassic period, is the first of its kind in the world to be installed at the Dubai Mall. 

Back then the 25-year-old dinosaur weighed up to five elephants and was one of the long-necked herbivorous dinosaurs and has a tail tapering to a long, thin whip-like end to defend itself against predators.

The dinosaur belongs to the Diplodocus longus variety, deriving it from the Greek words “diplos,” meaning “double,” and “dokos” meaning “beam.” 

Nearly 90 percent of the fossil’s bones are original, making it a stunning discovery in the history of palaeontology. The remains of the adult dinosaur were discovered in a sleeping position in 2008 at the Dana Quarry in the US state of Wyoming.

The auction will be an ideal opportunity for those looking for excellence to supplement their collections with a historic masterpiece rarely found around the world.

The specimen was previously displayed at the Houston Museum of Natural Science in the US state of Texas. It was sourced through Khalid Seddiq, founder of Etihad Modern Art Gallery in Abu Dhabi, and was put on permanent display at The Dubai Mall in 2014.

Emirates Auction is a UAE-based auction company in the Middle East. Founded in 2004, the company specializes in automobiles, vehicle license plates, real estate and properties, asset liquidation, VIP mobile numbers, jewelry, time-sensitive items, and heavy machinery, plant and construction equipments. 

Emirates Auction has achieved a number of milestones in a short span of time since its establishment, breaking 10 Guinness World Records along the way.

With increasing annual sales and registered bidders across the UAE, GCC and North Africa states, Russia and other countries across the world, the auctioneer conducts over 200 online and physical auctions per year. The company is credited with significantly contributing to the development of auction concepts in the Arab world.