Emirati Potentially Undervalued Companies

Emaar Properties PJSC

Market Cap: د.إ132.6b

Engages in the property investment, development, and development management business in the United Arab Emirates and internationally.

Lulu Retail Holdings

Market Cap: د.إ11.3b

Operates as a full-line retailer under the LuLu brand in the United Arab Emirates, the Kingdom of Saudi Arabia, Oman, Qatar, Kuwait, Egypt, Bahrain, Egypt, and internationally.

NMDC Energy - P.J.S.C

Market Cap: د.إ12.5b

Provides engineering, procurement, and construction services to offshore and onshore oil and gas fields.

Abu Dhabi Ports Company PJSC

Market Cap: د.إ26.3b

Operates in the ports, economic cities and free zones, logistics, maritime, and digital businesses in the United Arab Emirates, rest of the Middle East, Europe, the United States, Asia, and Africa.

Emaar Development PJSC

Market Cap: د.إ68.8b

Develops and sells residential and commercial build-to-sell properties in the United Arab Emirates.

Pure Health Holding PJSC

Market Cap: د.إ30.3b

Provides healthcare services in the United Arab Emirates.

Alpha Data PJSC

Market Cap: د.إ1.7b

Offers system integration services.

Ooredoo Q.P.S.C

Market Cap: د.إ45.5b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Dubai Residential REIT

Market Cap: د.إ17.0b

Dubai Residential REIT stands at the forefront of Dubai’s residential leasing sector, managing one of the city’s most diverse portfolios as part of Dubai Holding Asset Management.

Agility Public Warehousing Company K.S.C.P

Market Cap: د.إ344.6m

Operates as an aviation services company under Makhazen brand name in the Middle East, Europe, Asia, the United States, and Africa.

Emirates Driving Company P.J.S.C

Market Cap: د.إ3.5b

Manages and develops motor vehicles driving training in the United Arab Emirates.

Talabat Holding

Market Cap: د.إ21.7b

Operates as an on-demand online food ordering, delivery, takeaway and groceries, and convenience retail marketplace in the United Arab Emirates, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan, Iraq, and internationally.

National Central Cooling Company PJSC

Market Cap: د.إ8.5b

Supplies chilled water in the United Arab Emirates and internationally.

Eshraq Investments PJSC

Market Cap: د.إ1.2b

A private equity firm.

Hily Holding PJSC

Market Cap: د.إ302.4m

Manages securities portfolios in the United Arab Emirates, the Kingdom of Saudi Arabia, Kuwait, and Bahrain.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ171.3b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

ENBD REIT (CEIC)

Market Cap: US$125.0m

ENBD REIT (CEIC) PLC (“ENBD REIT”), the Shariah compliant real estate investment trust managed by Emirates NBD Asset Management Limited, announces its financial results for the first quarter of the financial year ended 30th June 2025.

Dana Gas PJSC

Market Cap: د.إ6.5b

Engages in the exploration, production, ownership, transportation, processing, distribution, marketing, and sale of natural gas and petroleum related products in the United Arab Emirates, Iraq, and Egypt.

Emirates REIT (CEIC)

Market Cap: US$230.2m

Emirates REIT is the UAE largest listed Sharia compliant Real Estate Investment Trust (REIT).

Abu Dhabi Aviation

Market Cap: د.إ5.8b

Owns and operates helicopters, and rotary and fixed wing aircrafts for civil and military aviation sectors in the United Arab Emirates and internationally.

Gulf Medical Projects Company (PJSC)

Market Cap: د.إ1.4b

Manages hospitals in the United Arab Emirates.

Mashreqbank PSC

Market Cap: د.إ53.2b

Provides various banking and financial services to individuals and corporates.

Sawaeed Holding P.J.S.C

Market Cap: د.إ346.5m

Provides manpower recruitment and outsourcing services in the United Arab Emirates.

Air Arabia PJSC

Market Cap: د.إ23.2b

Provides air travel services.

Alef Education Holding

Market Cap: د.إ7.2b

Together with its subsidiary, provides AI-powered learning solutions in the United Arab Emirates, Indonesia, the United States, and the Kingdom of Saudi Arabia.

Insurance House P.S.C

Market Cap: د.إ54.5m

Provides various non-life insurance solutions in the United Arab Emirates.

Dubai Refreshment (P.J.S.C.)

Market Cap: د.إ1.9b

Engages in bottling and selling Pepsi Cola International products in the United Arab Emirates and internationally.

Unikai Foods (P.J.S.C)

Market Cap: د.إ237.7m

Manufactures and sells dairy, juices, and ice cream products in the United Arab Emirates, Oman, and internationally.

National Cement Company (Public Shareholding)

Market Cap: د.إ1.6b

Engages in the manufacture and sale of cement and related products in the United Arab Emirates and internationally.

Alpha Dhabi Holding PJSC

Market Cap: د.إ89.2b

Engages in the construction, healthcare, real estate, and hospitality businesses in the United Arab Emirates and internationally.

Emirates NBD Bank PJSC

Market Cap: د.إ196.4b

Engages in the provision of corporate, institutional, retail, treasury, and Islamic banking services.

Sharjah Cement and Industrial Development (PJSC)

Market Cap: د.إ528.6m

Sharjah Cement and Industrial Development Co.

Borouge

Market Cap: د.إ78.0b

Through its subsidiaries, provides polymer solutions in the People’s Republic of China, India, the United Arab Emirates, Austria, Egypt, Pakistan, Vietnam, Saudi Arabia, Bangladesh, Japan, and internationally.

Depa

Market Cap: د.إ477.5m

Provides interior solutions.

ADNOC Gas

Market Cap: د.إ277.0b

Engages in the processing of associated and non-associated gas from onshore oil and gas productions and transmission of related products in the United Arab Emirates.

Al Mal Capital PSC - Al Mal Capital REIT

Market Cap: د.إ555.0m

Al Mal Capital PSC - Al Mal Capital REIT is real estate investment fund invests in a diversified portfolio of income generating real estate assets.