Middle East150 The annual report on the most valuable and strongest Middle Eastern brands2026 Contents ForewordDavid Haigh, Chairman & CEO, Brand Finance Regional Overview Valuation AnalysisMost Valuable Middle Eastern Brands 2026 Sustainability Analysis49 Brand SpotlightsduMashreqMobilyQNBSaudi EnergySaudia Brand Value Ranking (USDm) InsightSoft Power and Strategy:The Middle East’sgrowing global influence MethodologyOur Services AboutBrand Finance Bridging the gap betweenMarketing and Finance Brand Finance was set up in 1996with the aim of 'bridging the gap betweenmarketingandfinance'.For30years,we Quantifying the We put thousands of the world’s biggestbrands to the test every year. Rankingbrands across all sectors and countries, Unique combination The world'sleading brandvaluation Our teams have experienceacross a wide range of disciplinesfrom marketing and market research, Priding ourselves Brand Finance, a chartered accountancyfirmregulatedbytheInstituteofCharteredAccountants in England and Wales, is thefirstbrandvaluationconsultancytojointheInternationalValuationStandardsCouncil. For business enquiries, please contact:enquiries@brandfinance.com For media enquiries, please contact:press@brandfinance.com +44 207 389 9400www.brandfinance.com Brand resilienceunderpins +Built for uncertainty: Why Middle Eastern brandsremain resilient despite market headwinds +Aramcoremains the Middle East’s most valuablebrand for the seventh consecutive year +ADNOCdelivers exceptional long-term growth,withbrandvalueup354%since2017 +Five banking brands,QNB,Al Rajhi Bank,SNB,Emirates NBDandFAB, rank among the region’stop 10 most valuable brands +Brand to watch:Saudi Energy’s rebrand signalsit ambitions to redefine its role from deliveringelectricity to powering national progress +KFSHRCretains its position as the region’sleading healthcare brand Foreword This year marks Brand Finance’s 3 0th anniversary. Throughout our history as acompany, there has been one enduring truism: brands operate in a world shapedby continual change. Rapidadvancements in AI,geopolitical fragmentation,economic uncertainty,andrising expectations of corporate behaviour have all placed new pressures Looking back to 1996, the global brand landscape was dominated by traditionalconsumer names. Since then, the rise of technology and digital services, the move fromproducts to ecosystems, the increasing prominence of B2B brands, and the growth of David HaighChairman & CEO,Brand Finance Today, the commercial contribution of a strong brand is well recognised. I t drivesdemand, supports premium pricing, attracts and retains talent, increases resilienceduring uncertainty, and provides confidence to investors. Despite this awareness,many organisations still struggle to quantify brand value or explain its role in business At Brand Finance, our mission for 3 0 years has been to close that gap. By bringingtogether robust valuation methodologies and in-depth research, we help leadersunderstand the financial impact of their brand and make better-informed decisions.Whetheryou are looking to strengthen brand performance,evaluate marketing As you explore this year’s findings, Iencourage you to consider how the insightscan support clearer decision-making within your organisation. Strong brands arebuilt through informed choices and consistent investment, and our team is ready RegionalOverview RegionalOverview The Middle East continues to show strong brand valueresilience,with many of the region’s leading brandsmaintainingmomentum despite a more challenginggeopolitical and economic backdrop. Ongoing volatility,fluctuating oil prices and supply chain disruption continue Essential sectors also play an important role in supportingstability across the region. Brands in food production andtelecommunications, such asAlmaraiandstc, benefit such asQNBand Emirates NBDcontinue to generate value through strong balance sheets, diversified income streamsand high levels of customer trust. Their relatively steadyperformance stands in contrast to more cyclical sectorssuch as chemicals, where brands such asSABICremain Consumerscontinuetoneedfood,connectivityandcommunication regardless of wider economic conditions,which helps these brands maintain steadier performanceand recover more quickly than more discretionary sectors. Thisresilienceisnotdrivenbyanysinglefactor.Instead,itreflects a combination of scale, sector positioning and theability to adapt quickly when conditions change. Together,these strengths help brands protect value during more ADNOCis one of the clearest examples of resilience in theenergy sector. While the business remains exposed to oilprice movements, it has continued to strengthen its positionthrough downstream diversification, international expansionand investment across the energy value chain. This broader Aviation is perhaps the clearest example. Brands such asEmiratesand