ADNOC Retains Its Position As Most Valuable Brand Company In UAE
The state-owned Abu Dhabi National Oil Company (ADNOC) has retained its position as UAE’s most valuable brand and second most valuable brand in the Middle East region with its brand value increasing 19% to $12.8 billion.
Leading brand valuation consultancy Brand Finance, which evaluates leading brands around the world, puts 5,000 of the biggest brands to the test, and publishes nearly 100 reports, ranking brands across all sectors and countries.
The UAE’s top 50 most valuable and strongest brands are included in the Brand Finance’s “UAE 50” report, while the Middle East’s top 150 most valuable and strongest brands are included in the Brand Finance Middle East 150 report.
The total value of these 50 most valuable and powerful brands in the UAE for 2022 was put around $55.54 billion, according to estimates by Brand Finance.
ADNOC is the strongest Oil & Gas brand in the Middle East with a Brand Strength Index of 79.1 out of 100. ADNOC is one of a handful of brands in the sector to see its BSI score rise by +2 points, as a result of its reputation and trust amongst international investors and stakeholders. ADNOC’s impressive performance was also reflected in being ranked 159th in the Brand Finance Global 500 2022 ranking.
ADNOC is also part of the UAE’s energy transition plans through several strategic initiatives including its global clean energy joint venture with TAQA and Mubadala on renewable energy and green hydrogen.
Andrew Campbell, Managing Director Brand Finance Middle East, commented: “ADNOC continues to be the principal enabler of UAE’s sustainable economic development goals. Since its successful transformation it has taken a leading role in the industry as evidenced by its successful partnerships with peers and international investors. ADNOC is leveraging is brand to be a key enabler of the energy transition as it strives to be at the forefront of energy solutions across the entire diversified energy landscape.”
Etisalat strongest brand
Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance.
According to these criteria, Etisalat is UAE’s strongest brand for the second year in a row with a Brand Strength Index (BSI) score of 89.2 out of 100 and a corresponding AAA brand strength rating.
Expo 2020 has offered Etisalat the platform to demonstrate itself as a strategic enabler of the UAE’s digital transformation. Etisalat’s focus on enhancing customer experience and living the ethos of “Together Matters” has helped the brand in increasing its BSI score by +1.8 points, as well as making it the #1 strongest telecoms brand globally.
Besides, Etisalat has also increased its brand value from $8.5 billion to $10.1 billion. Etisalat Group also boasts the most valuable telecoms brand portfolio in the Middle East.
Emirates Airlines ranked third in the list of the most expensive brands in the UAE, and sixth in the Middle East, with a brand value of $4.98 billion and ranked third among the most powerful brands in the country for 2022.
The Emirates NBD brand came in fourth place in the UAE and tenth in the Middle East among the brands with the highest value at $3.59 billion. It also ranked fourth among the strongest brands in the UAE this year, followed by the First Abu Dhabi Bank brand, which ranked fifth among the most expensive brand in the country with about $3.29 billion.
The Abu Dhabi Commercial Bank brand ranked sixth among the most expensive brands in the country with a value of $2.29 billion followed by Emaar with a value of $2.1 billion, Du in eight place with a value of $1.99 billion. The Dubai Islamic Bank was ranked ninth, with a value of $1.8 billion and the DP World was ranked 10th with a value of $1.5 billion.
According to the report, the total value of the ten most valuable brands in the UAE for 2022 amounted to $44.5 billion, which constitutes more than 80% of the total value of the 50 most valuable brands in the country.
The report pointed to the strong improvement in the performance of the brands of Dubai Electricity and Water Authority (DEWA), Emaar Properties and Mashreq in this year’s classification, as the value of the three brands grew by more than 30%.
The report said that the new brands within the list of the 50 most expensive and strongest in the country showed promising growth indicators, pointing to the list of the top three new brands in the UAE, which included Abu Dhabi Ports, whose brand value amounted to $440 million, and the Emirates Global Aluminum ranked 25th with a value of $322 million, which has the highest brand strength in the region among mining and metals brands, while Majid Al Futtaim was the third highest new entrant in the ranking with a value of $258 million.