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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.

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Construction Week - Issue 749
Sep 15, 2019