The leading property developer in the Middle East, Cayan Group, as well as its President and Chairman, Ahmed Alhatti, have made it to this year’s Forbes Middle East rankings.
The group was ranked 92nd in the category of “Top Private Arab Companies Making an Impact in the Arab World” and Forbes also honoured Alhatti for his contributions to the real estate industry at a grand event at the Oberoi hotel in Dubai on 9 June.
Alhatti has more than 20 years of experience in investment and financial services. He also handled several development and real estate projects in the UAE, Saudi Arabia and Lebanon. In addition, he is an Executive Member of the Saudi-Canadian Business Council and the Saudi–South African Business Council. He also serves as the Chairman of Cayan Homes Brokerage and Primo Gelato and has previously served as a board member of Emcor Facilities Services Limited.
“It is indeed an honour to be recognised by Forbes Middle East for my humble contributions toward the real estate industry. I would like to thank Forbes Middle East for awarding Cayan Group and myself as one of the top companies in the Arab world and I’m very pleased to achieve this commendable recognition from such a credible source as Forbes,” says Alhatti. “I’m confident that this award reflects positively on my team, the company and myself… will contribute to further success and achievements.”
Founded in 2004, Cayan Group has now become one of the largest real estate investment players in Middle East market. The group has since expanded its operations across the region and now has offices in Saudi Arabia and the UAE.
The group’s flagship real estate project, Cayan Tower in Dubai, entered the Guinness World Records in 2015 as the world’s tallest twisted tower, standing 307 metres high.
Apart from the Silverene Towers, The Jewels, Dorrabay and Cayan Business Centre in the UAE, the group also owns Layaly Compound and Samaya in Saudi Arabia, as well as Broumana Lands in Lebanon.
Forbes analyzed 1,245 listed companies in Arab stock markets to rank firms on the basis of revenues, net earnings, assets and market valuation. However, companies based in countries currently facing political turmoil or war and those firms that failed to report audited 2014 financial statements were excluded from the survey.
The American business magazine has also released lists of the world’s richest Arabs and the top Indian leaders in the Arab world (with separate listings for owners and executives).