Emirati Potentially Undervalued Companies

Emaar Properties PJSC

Market Cap: د.إ101.5b

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

Emaar Development PJSC

Market Cap: د.إ54.7b

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

NMDC Group PJSC

Market Cap: د.إ17.0b

Together with subsidiaries, executes engineering, procurement, and construction contracts, and dredging contracts and associated land reclamation works in the territorial waters of United Arab Emirates, Saudi Arabia, Taiwan, Egypt, Bahrain, India, and internationally.

Ooredoo Q.P.S.C

Market Cap: د.إ44.7b

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

Emirates Mobility Company P.J.S.C

Market Cap: د.إ3.4b

Emirates Driving Company P.J.S.C. provides automotive and mobility solutions in the United Arab Emirates.

Spinneys 1961 Holding

Market Cap: د.إ4.2b

Through its subsidiaries, engages in the operation of 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.

Dana Gas PJSC

Market Cap: د.إ6.4b

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.

ADNOC Gas

Market Cap: د.إ252.4b

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.

Dubai Residential REIT

Market Cap: د.إ15.7b

A Shariah-compliant, income-generating, closed-end real estate investment trust, and the GCC’s largest (in terms of Gross Asset Value) and first pure-play residential leasing REIT, managed by DHAM REIT Management.

ENBD REIT (CEIC)

Market Cap: US$125.5m

ENPD REIT (CEIC) PLC is a Sharia-compliant real estate investment trust.

Hily Holding PJSC

Market Cap: د.إ241.2m

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

Abu Dhabi Ports Company PJSC

Market Cap: د.إ22.8b

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.

Emirates NBD Bank PJSC

Market Cap: د.إ170.2b

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

Alpha Dhabi Holding PJSC

Market Cap: د.إ76.3b

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

Borouge

Market Cap: د.إ74.8b

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.

Orascom Construction

Market Cap: د.إ5.6b

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$159.5m

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

Pure Health Holding PJSC

Market Cap: د.إ23.8b

Operates healthcare platform to provides health care services in the United Arab Emirates, the United States, the United Kingdom, Greece, and Cyprus.

Emirates Central Cooling Systems

Market Cap: د.إ16.1b

Provides district cooling services in the United Arab Emirates.

Abu Dhabi National Takaful Company PSC

Market Cap: د.إ514.5m

Provides takaful insurance solutions in the United Arab Emirates and internationally.

ADNH Catering

Market Cap: د.إ1.5b

ADNH Catering PLC, food services company, engages in the provision of catering and support services in the United Arab Emirates and the Kingdom of Saudi Arabia.

ALEC Holdings PJSC

Market Cap: د.إ7.5b

Operates as a construction company in the United Arab Emirates.

Dubai Taxi Company P.J.S.C

Market Cap: د.إ5.3b

A taxi company, provides passenger transportation services for individuals and businesses in the United Arab Emirates.

Sawaeed Holding P.J.S.C

Market Cap: د.إ346.5m

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

RAK Properties PJSC

Market Cap: د.إ2.9b

Engages in the investment, development, and management of real estate properties in the United Arab Emirates.

Aldar Properties PJSC

Market Cap: د.إ59.4b

Engages in real estate development, investment, construction, leasing, management, sale, and associated services in the United Arab Emirates.

NMDC Energy - P.J.S.C

Market Cap: د.إ15.2b

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

Palms Sports PJSC

Market Cap: د.إ1.2b

Provides sports training programs for Jiu-Jitsu and other sports in the United Arab Emirates.

Two Point Zero Group P.J.S.C

Market Cap: د.إ23.9b

Operates in consumer, energy, investments and asset management, and mining activities.

Fujairah Cement Industries PJSC

Market Cap: د.إ145.5m

Together with its subsidiary, manufactures and sells clinkers and hydraulic cement, and ready mixed and dry mix concrete and mortars in the United Arab Emirates and internationally.

Fujairah Building Industries P.J.S.C

Market Cap: د.إ397.1m

Manufactures and sells concrete products in the United Arab Emirates and internationally.

National Central Cooling Company PJSC

Market Cap: د.إ7.3b

Supplies chilled water in the United Arab Emirates, Saudi Arabia, Egypt, Oman, Bahrain, India, and internationally.

Union Properties

Market Cap: د.إ3.0b

Invests in and develops properties.

EMSTEEL Building Materials PJSC

Market Cap: د.إ8.1b

Engages in the operation, trading, and investing in industrial projects and commercial businesses involved in the building materials and steel sectors in the United Arab Emirates.

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ128.0b

Generates, transmits, and distributes electricity for residential, commercial, industrial, and government customers primarily in Dubai.

Dubai Financial Market P.J.S.C

Market Cap: د.إ11.6b

Provides investors and market participants with products and services for trading, clearing, settlement, and depository of securities.