Diversification and transformation drive changes amongst the Middle East’s most valuable and strongest brands
New report from Brand Finance highlights that diversification and innovation is a central development strategy across sectors for the Middle East’s leading brands
- Aramco is the Middle East’s most valuable brand despite declining value and strength
- e& UAE (formerly known as etisalat by e&) is the Middle East’s strongest brand rated AAA; e& Group is the fastest-growing tech brand in the region
- stc retains title as the most valuable regional telecoms brand
- QatarEnergy reaps the rewards of brand integration, becoming fastest-growing Middle Eastern brand up 82%
- Healthcare brands growing quickly to drive the region’s transformation into a healthcare hub
Aramco maintains its status as the Middle East’s most valuable brand, despite an 8% drop in brand value to USD41.6 billion, according to a new report from Brand Finance, the world's leading brand valuation consultancy. This decrease is primarily revenue-driven, due to a fall in crude oil prices and lower volumes sold, however, Aramco’s falling brand strength also contributed to this.
e& UAE (formerly known as etisalat by e&), is the strongest brand in the Middle East across all industries, boasting a Brand Strength Index score of 89.4/100 and an AAA rating. This also makes it the world’s strongest telecoms brand. Thriving under the larger technology group, the telecom operator has expanded into new markets through its Partner Market program and strategic acquisitions. Substantial investments have also been made in communication campaigns to promote brand awareness and the brand’s transformation from a traditional telco into a global tech company. e&, as a standalone brand, is now the Middle East’s fastest-growing tech brand, up 52%.
Fellow telecoms giant, stc has also pursued an expansive growth strategy, solidifying its position as the region’s second strongest brand with a Brand Strength Index score of 88.1/100. Now encompassing an integrated system of subsidiaries specialised across sectors, alongside its traditional telecommunications services, the brand’s acquisition of an interest in Telefonica marks another key milestone in stc’s growth journey. With a 12% increase in brand value to USD13.9 billion, it also ranks as the Middle East’s most valuable telecoms brand.
ADNOC is the Middle East’s second most valuable brand (brand value up 7% to USD15.2 billion) and the most valuable UAE brand. The brand has seen a 1-point improvement in its BSI to 80.2, driven by its decarbonisation and diversification efforts, making it the strongest of the energy brands in the region.
“In an era defined by change, the Middle East's leading brands are embracing diversification strategies to drive growth and safeguard their futures amid evolving market conditions. From ADNOC's forward-looking investments in alternative fuels, e& Group and stc’s telecom transformations, and top healthcare brands’ growth and innovation, the region’s brands’ adaptability reflects a commitment to fortifying their market positions, while also propelling the Middle East towards a future of progress and prosperity.”
Andrew Campbell, Managing Director, Brand Finance Middle East
QatarEnergy’s brand value has achieved region-leading growth substantially due to the integration of its subsidiary, Qatargas, into the QatarEnergy brand. This achieved an 82% increase in its brand value to USD3.2 billion, positioning it as the fastest-growing Middle Eastern brand and as a result, Qatar’s second most valuable brand.
King Faisal Specialist Hospital & Research Center (KFSH&RC) has reinforced its position as a key player in driving the Middle East’s transformation into a global healthcare hub. With a brand value increase of 31% to USD1.5 billion it is the Middle East’s most valuable Healthcare brand. The brand’s strong levels of awareness and familiarity, and reputation for research and adopting the latest medical treatments and technology, are also reflected in its enhanced Brand Strength Index score of 73.9/100. This ranks it first in the Middle East and 20th globally in Brand Finance’s Global Top 250 Hospitals ranking for 2024.
PureHealth Group, the UAE’s largest integrated healthcare platform, is a new entrant in the ranking with a brand value of USD434.2 million. 2023 was a transformative year for the PureHealth brand, in which it posted strong revenue growth and completed its initial public offering on the Abu Dhabi Stock Exchange. The company also expanded its global footprint, investing in US-based Ardent Health Services, and acquiring the UK’s largest private healthcare group, Circle Health Group. Additionally, three of PureHealth’s subsidiary brands, SEHA, Sheikh Shakhbout Medical City (SEHA), and Daman secured positions among the UAE’s most valuable brands.