Five Bahraini business families feature on Forbes list
Five Bahraini business families have been featured on the Forbes list of the Top 100 Family Businesses in the Middle East.
The highest ranked Bahraini business on the list is Y K Almoayyed & Sons in 30th place.
Chaired by Farouk Almoayyed, the company's portfolio includes automobiles, heavy equipment, building materials, electronics and home appliances, furnishing, ready-mix concrete and high-end luxury goods.
In 39th place is Yusuf Bin Ahmed Kanoo (YBA Kanoo), led by Khalid Kanoo. The diversified group is into shipping, travel, machinery, engineering, logistics, property, energy, industrial chemicals, and commercial activities.
Abdulla Yousif Fakhro Group is ranked 74. With Esam Abdulla Fakhro as chairman, the group has businesses in automotive, industrial products, electronics, telecommunications, insurance, contracting, shipping, and logistics.
Ranked 80 in the list, Al Zayani Investments Group is the youngest Bahraini business to be featured.
It has diverse business portfolio that includes automotive, healthcare, manufacturing, real estate, service businesses and food and beverages and is led by Nawaf Al Zayani.
One of Bahrain's pioneers in the construction sector, the Haji Hassan Group has been ranked 99.
The group was behind the construction of Bahrain’s International Circuit — the first professional racing track in the region and is currently led by Adel Hassan Al A'ali.
With 36 family businesses, Saudi Arabia dominates the list. The UAE follows with 21 entries on the list.
Forbes said family businesses are the backbone of the Middle East's economies, with some of the largest businesses in the region run by families through private companies.
"Most of the companies on our list of the Top 100 Family Businesses in the Middle East have been passed down through at least one generation, with 10 companies more than a century old, and 13 formed between 75 and 100 years ago," said the regional business publication.
Source: http://www.gdnonline.com/Details/836471/Five-Bahraini-business-families-feature-on-Forbes-list
