Built to inform

Sign up for the daily newsletters

No, Thank you

Construction chiefs among world's richest Arabs

Orascom's Sawiris family ranked third in Arabian Business listing with $11.3bn fortune

Orascom's Nassef Sawiris
Orascom's Nassef Sawiris

Leading figures from the world of construction were named among a list of the world's wealthiest Arabs by Construction Week's sister title Arabian Business.

In its annual ranking of the wealthiest figures in the Arab world, the Sawiris family - founders of Orascom Construction Industries, as well as a number of telecoms and IT businesses, are ranked fourth with an estimated wealth of $11.3bn.

Issam Al Zahid's, whose Zahid Group started in construction and is still a major player in the industry as well as owning divisions in mining, general industry and trading, is ranked fifth with a fortune of $11.2bn.

Other high-ranking Arabs with significant interests in construction include the Binladin family (8), whose Saudi Binladin Group has allowed them to amass a fortune of $8.4bn, Mubarak Al Suweiket of Saudi-based Suweiket Trading & Contracting (21) with a fortune of $4.3bn, and Damac Group chairman and founder Hussein Sajwani (22).

Sajwani has a fortune estimated to be worth $4bn on the back of the float of 15% of the development company on the London Stock Exchange earlier this year.

Most popular

Awards

Dubai's JW Marriott Marquis Hotel to host CW Awards 2019
15th edition of the CW Awards will be held at the five-star Dubai hotel to

Conferences

Leaders UAE 2019: ALEC, CSCEC ME, Arada bosses on diversification
EXCLUSIVE: Kez Taylor, Sachin Kerur, Elie Mrad, and Grigoris Christofides share insights at Leaders UAE
Leaders UAE 2019: Awareness, intent key to cutting contract costs
EXCLUSIVE: Sachin Kerur, Talal Al Gaddah, Walid Soliman, and Rajesh Kumar Krishna share views at

Latest Issue

Construction Week - Issue 749
Sep 15, 2019