Abu Dhabi National Oil Company (Adnoc) has once again proved to be the most valuable brand of the UAE, increasing 19 per cent to Dh47 billion ($12.8bn).
Abu Dhabi rules in values while Dubai has most number of leading brands, a consultancy firm pointed out. Around 24 firms in the Brand Finance UAE 50 2022 ranking are based in Dubai. As many as 19 are based in Abu Dhabi.
“Adnoc continues to be the principal enabler of UAE’s sustainable economic development goals,” Andrew Campbell, managing director of Brand Finance Middle East, reportedly said.
The title of the “strongest brand” in the UAE was retained by Etisalat with a Brand Strength Index (BSI) score of 89.2 out of 100. A corresponding AAA brand strength rating as well.
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Etisalat also holds the title of the most valuable telecoms brand portfolio in the Middle East, which has helped it raise its brand value from $8.5 billion to $10.1 billion.
Emirates NMD bank is the strongest brand in the finance sector in the UAE. Its BSI score was 79.9 out of 100, with a corresponding AAA-rating.
Abu Dhabi Commercial Bank (ADCB) has made a recovery with a BSI score of 75.4 out of 100, according to Brand Finance.
Growing by over 30 per cent in brand value, Dubai Electricity and Water Authority (Dewa), Emaar Properties and Mashreq Bank went up two ranks in the Brand Finance UAE 50 2022 raking.