RIYADH: State-owned Saudi Electricity Co. has again been crowned the Middle East’s most valuable and strongest brand in the utilities sector for the current year.
With a brand value of $1.19 billion, the utility giant surpassed peers in the region including TAQA and Dubai Electricity and Water Authority, among others, according to the latest report by Brand Finance.
The global consultancy firm annually ranks 150 Middle Eastern brands across different sectors in terms of brand value.
Saudi Electricity ranked 28th on the entire list and topped the utilities sector. A year earlier, it also led the sector with brand equity of $902 million.
The Kingdom’s ACWA Power came in third place, recording a brand value growth of 1 percent to $149 million year-on-year.