Emirati Potentially Undervalued Companies

Lulu Retail Holdings

Market Cap: د.إ12.5b

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.

Dana Gas PJSC

Market Cap: د.إ5.3b

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.

National Central Cooling Company PJSC

Market Cap: د.إ8.4b

Supplies chilled water in the United Arab Emirates and internationally.

Emaar Properties PJSC

Market Cap: د.إ127.3b

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

E7 Group PJSC

Market Cap: د.إ2.5b

Engages in commercial printing, packaging, and distribution business in the United Arab Emirates.

Emaar Development PJSC

Market Cap: د.إ59.0b

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

Pure Health Holding PJSC

Market Cap: د.إ32.2b

Provides healthcare services in the United Arab Emirates.

Mashreqbank PSC

Market Cap: د.إ49.8b

Provides various banking and financial services to individuals and corporates.

NMDC Energy - P.J.S.C

Market Cap: د.إ12.6b

Provides engineering, procurement, and construction services to offshore and onshore clients in the energy industry.

Ooredoo Q.P.S.C

Market Cap: د.إ41.3b

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

Emirates Driving Company P.J.S.C

Market Cap: د.إ3.4b

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

Abu Dhabi Ports Company PJSC

Market Cap: د.إ21.2b

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.

National Corporation for Tourism and Hotels

Market Cap: د.إ1.8b

Invests in, owns, and manages hotels and leisure complexes in the United Arab Emirates.

ENBD REIT (CEIC)

Market Cap: US$132.5m

ENBD REIT (CEIC) PLC (“ENBD REIT”),the Shari'a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, announces its financial results for the third quarter ended 31 December 2024.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ157.2b

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

Spinneys 1961 Holding

Market Cap: د.إ5.9b

Through its subsidiaries, operates supermarkets under the Spinneys, Waitrose, and Al Fair brands in the United Arab Emirates, the Sultanate of Oman, the Kingdom of Saudi Arabia, and internationally.

Abu Dhabi Aviation

Market Cap: د.إ6.2b

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

Sharjah Cement and Industrial Development (PJSC)

Market Cap: د.إ530.4m

Sharjah Cement and Industrial Development Co.

Borouge

Market Cap: د.إ79.6b

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.إ368.3m

Provides interior solutions.

Orascom Construction

Market Cap: US$859.9m

Operates as an engineering and construction contractor for infrastructure, complex industrial, and high-end commercial projects in the United States, the Middle East, Africa, and Central Asia.

Emirates REIT (CEIC)

Market Cap: US$162.1m

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

Gulf Medical Projects Company (PJSC)

Market Cap: د.إ1.5b

Manages hospitals in the United Arab Emirates.

Alpha Data PJSC

Market Cap: د.إ1.8b

Offers system integration services.

Sawaeed Holding P.J.S.C

Market Cap: د.إ346.5m

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

Alef Education Holding

Market Cap: د.إ7.1b

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

Investcorp Capital

Market Cap: د.إ3.5b

Operates as an alternative investment company.

NMDC Group PJSC

Market Cap: د.إ20.0b

Together with subsidiaries, executes engineering, procurement, and construction contracts, and dredging contracts and related land reclamation works in the United Arab Emirates and internationally.

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

Market Cap: د.إ1.8b

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

Agthia Group PJSC

Market Cap: د.إ3.4b

Operates in the food and beverages in the United Arab Emirates and internationally.

Talabat Holding

Market Cap: د.إ27.5b

Operates 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, and Iraq.

Agility Public Warehousing Company K.S.C.P

Market Cap: د.إ349.7m

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

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.

R.A.K. Ceramics P.J.S.C

Market Cap: د.إ2.5b

Engages in manufacture and sale of various ceramic products in the Middle East, Europe, Asian countries, and internationally.

Unikai Foods (P.J.S.C)

Market Cap: د.إ264.1m

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

Eshraq Investments PJSC

Market Cap: د.إ1.5b

A private equity firm.