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UAE Listed Company Map

A free source-linked map of the reconciled Dubaist public directory across ADX, DFM and Nasdaq Dubai. It is a research starting point, not a complete official exchange master.

No card, account or email required. Coverage is not a ranking or recommendation.
143public profiles
3Markets
14Working sectors

How to use the company map

Move from a market or sector to one exact listed-security identity, then open the evidence trail or its free research preview. Counts describe the current Dubaist public registry, not an official complete market master.

1

Choose a market

Use ADX, DFM or Nasdaq Dubai to narrow the directory without creating an investment ranking.

2

Choose a sector

Open the sector hub to see companies under the same evidence model and sector-specific metric definitions.

3

Inspect one company

Open the canonical profile to verify ticker, exchange, identity date, source, reporting context and available public layers.

4

Read the free Brief

Continue to the Company Brief for a structured evidence-first reading path. Identity-only coverage remains labelled as such.

Markets

ADX73DFM66NASDAQ DUBAI4

Working sectors

Financial services and insurance44Consumer19Real estate16Industrials and construction16Transport and logistics10Banks8Diversified holdings5Utilities4Energy4Materials4Technology4Healthcare4Telecommunications3Education2

Company directory

ADX · IHC

Diversified holdings · Listed equity

Abu Dhabi-based diversified holding and operating group with controlled and non-controlling investments spanning real estate and construction, marine and dredging, food and agriculture, healthcare, financial services, utilities, technology and other sectors. It earns consolidated operating revenue from controlled subsidiaries and investment/valuation income from a large portfolio. Economics depend on subsidiary operating performance, acquisition accounting, fair-value movements, related parties, non-controlling interests, leverage and transparent look-through NAV/cash accessibility.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
DFM · EMAAR

Real estate · Listed equity

Integrated real-estate and lifestyle group. Sells UAE homes mainly through controlled separately listed Emaar Development and other group projects; develops internationally, especially Egypt and India; owns/operates malls and commercial leasing assets; and owns/manages hotels, leisure and entertainment. Economics depend on presales, buyer advances and escrow, construction progress, handovers, backlog margin and collections, land bank, mall rents/occupancy, hotel occupancy/rates, international execution and capital allocation.

Research lens: Developer analytical model
  • Presales
  • Backlog
  • Handovers
Framework only — no company values or recommendation.Read the evidence guide
ADX · FAB

Banks · Listed equity

Diversified UAE-headquartered conventional and Islamic banking group serving government/public-sector institutions, corporates, financial institutions, SMEs, retail, affluent, private-banking and wealth clients. It earns net interest/spread income from loans and securities; fees from payments, trade finance, cash management, cards, capital markets and advisory; and markets/investment income. Reported segments are Investment Banking & Markets, Wholesale Banking, Personal/Business/Wealth/Privileged Client Banking and Head Office/subsidiaries, with a broad international network.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · EMIRATESNBD

Banks · Listed equity

Dubai-government-controlled diversified banking group earning net interest and Islamic financing margin plus fees and markets income across UAE retail and wealth, corporate and institutional banking, treasury, Emirates Islamic, DenizBank Türkiye, Emirates NBD Egypt and RBL Bank India. Economics depend on NIM and deposit mix, credit losses, efficiency, liquidity, regulatory capital, FX/hyperinflation and acquisition integration.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · DIB

Banks · Listed equity

Full-service Sharia-compliant bank earning financing and sukuk yield less depositors/sukuk-holder profit share, plus fees and FX, across consumer, business/corporate, treasury and capital-markets activities. Economics depend on profit margin, CASA and wholesale funding, expected credit losses, liquidity and regulatory capital; property exposure also arises through financing, investment properties and a 44.9% Deyaar associate.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · DEWA

Utilities · Listed equity

Government-controlled integrated utility that generates, transmits, distributes and sells electricity and potable water exclusively across Dubai; consolidates 80% of separately listed district-cooling operator Empower; participates in IWPP assets and owns Mai Dubai, Digital DEWA and Etihad ESCO. Economics depend on Dubai demand growth, approved tariffs and fuel-surcharge recovery, plant/network availability, line losses, capex, project debt and dividend cover.

Research lens: Utilities analytical model
  • Capacity
  • Tariff
  • Regulated assets
Framework only — no company values or recommendation.Read the evidence guide
ADX · TAQA

Utilities · Listed equity

Owns and operates contracted power and water generation; regulated electricity/water transmission and distribution; wastewater collection, treatment and reuse; international utility assets; and a mature Canada/Europe oil-and-gas portfolio with decommissioning obligations. Through Masdar exposure it participates in renewables. Economics depend on regulated asset values and allowed returns, long-term offtake contracts, plant/network availability, pass-through tariffs, capacity additions, capital expenditure, project debt/refinancing, commodity prices and decommissioning costs.

Research lens: Utilities analytical model
  • Capacity
  • Tariff
  • Regulated assets
Framework only — no company values or recommendation.Read the evidence guide
ADX · EAND

Telecommunications · Listed equity

Provides mobile, fixed broadband, voice, data and wholesale connectivity in the UAE and international markets; sells enterprise ICT, cloud, cybersecurity, managed services and digital-government solutions; and owns or invests in consumer-digital and financial platforms. Revenue is mainly subscription, usage, connectivity, device and enterprise-contract based. Economics depend on subscribers, ARPU/ARPL, network and spectrum CAPEX, competition, currency, regulation, acquisitions and the UAE royalty/tax burden.

Research lens: Telecom analytical model
  • Subscribers
  • ARPU
  • Churn
Framework only — no company values or recommendation.Read the evidence guide
DFM · SALIK

Transport and logistics · Listed equity

Salik Company is a listed equity on DFM under ticker SALIK. Public classification: Transport and logistics. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Transport analytical model
  • Traffic or throughput
  • Yield
  • Asset utilisation
Framework only — no company values or recommendation.Read the evidence guide
DFM · EMAARDEV

Real estate · Listed equity

Majority-owned listed subsidiary of Emaar Properties focused on prime UAE build-to-sell residential and commercial communities. It launches projects, presells units, receives buyer advances into escrow, funds construction, recognises IFRS 15 revenue as obligations are performed, hands over units and provides development management services. Economics depend on sales price and mix, launches, collections and cancellations, construction cost and progress, handovers, backlog margin/timing, land/JV/JDA terms, escrow accessibility and related-party arrangements with the listed parent and common-control entities.

Research lens: Developer analytical model
  • Presales
  • Backlog
  • Handovers
Framework only — no company values or recommendation.Read the evidence guide
DFM · DU

Telecommunications · Listed equity

UAE-focused integrated telecom operator earning recurring and usage revenue from consumer and enterprise mobile voice/data, postpaid and prepaid plans, fixed fibre and Home Wireless broadband, IPTV, telephony, wholesale traffic/roaming/site sharing, and ICT services. ICT includes cloud, cybersecurity, data-centre colocation, IoT, broadcasting and equipment; adjacent platforms include du Pay, du Tech, du Infra and du Ventures. Economics depend on subscribers, mix, ARPU, churn, 5G/fibre quality, spectrum/licence terms, competition with e&, CAPEX, leases, federal royalty/tax, data-centre utilisation and enterprise contract returns.

Research lens: Telecom analytical model
  • Subscribers
  • ARPU
  • Churn
Framework only — no company values or recommendation.Read the evidence guide
DFM · TALABAT

Consumer · Listed equity

Talabat Holding is a listed equity on DFM under ticker TALABAT. Public classification: Consumer. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Digital marketplace analytical model
  • GMV and orders
  • Customers and frequency
  • Take rate
Framework only — no company values or recommendation.Read the evidence guide
ADX · FERTIGLB

Materials · Listed equity

ADNOC-controlled global nitrogen-fertilizer producer and trader. Fertiglobe manufactures urea and merchant ammonia at Fertil in the UAE, EFC and EBIC in Egypt, and Sorfert in Algeria; it sells own product and third-party traded volumes through a six-port distribution network. Economics depend on urea/ammonia netbacks, natural-gas terms, utilisation and turnarounds, freight/trade routes, minority profit sharing and working capital. Growth options include low-carbon and renewable ammonia, DEF and automotive-grade urea.

Research lens: Petrochemicals analytical model
  • Production and sales volume
  • Utilisation
  • Product spread
Framework only — no company values or recommendation.Read the evidence guide
ADX · ALPHADHABI

Diversified holdings · Listed equity

Controls operating subsidiaries and owns associates, joint ventures and fund interests; value depends on asset performance, upstream cash and capital allocation at the listed parent.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
DFM · AIRARABIA

Transport and logistics · Listed equity

Multi-hub low-cost airline group selling point-to-point passenger tickets and paid ancillary services, with cargo, aircraft leasing, ground handling, travel, training and hospitality activities. Sharjah operations are consolidated; airline interests in Abu Dhabi, Egypt and Pakistan are joint ventures and Morocco is an associate, so all-hubs passengers exceed the consolidated passenger perimeter.

Research lens: Aviation analytical model
  • Passengers
  • Load factor
  • Yield
Framework only — no company values or recommendation.Read the evidence guide
ADX · PRESIGHT

Technology · Listed equity

Designs, installs and operates AI/big-data analytics solutions, mainly under multi-year government and quasi-sovereign projects; majority-owned AIQ supplies energy AI. Contract wins, renewals, cost-to-complete, contract-asset collection, concentration, data sovereignty, international execution and AIQ minority economics drive value and risk.

Research lens: Technology infrastructure analytical model
  • Backlog and contracted revenue
  • Recurring revenue mix
  • Capacity and utilisation
Framework only — no company values or recommendation.Read the evidence guide
DFM · DFM

Financial services and insurance · Listed equity

Government-controlled market-infrastructure group operating DFM, Dubai Clear, Dubai CSD and 67% of Nasdaq Dubai. It earns trading commissions, clearing/settlement/depository, brokerage, listing, market-data and other fees plus investment/dividend income on deposits, sukuk and strategic assets. Economics depend on ADTV/trades, listings, investor participation, fee schedules, profit rates, technology/settlement resilience and the strict separation of MyAccount/iVESTOR/CCP obligations from shareholder liquidity.

Research lens: Capital-markets analytical model
  • Market activity or AUM
  • Fee revenue mix
  • Client asset segregation
Framework only — no company values or recommendation.Read the evidence guide
ADX · MODON

Real estate · Listed equity

Abu Dhabi Government-controlled integrated city builder and operator. Develops and sells masterplanned communities, plots and infrastructure; owns and leases income assets; owns/operates hotels; runs exhibition venues, events, temporary infrastructure, catering, tourism and media services; and invests through international JVs. Economics depend on sales/backlog conversion, construction delivery and collections, recurring occupancy/NOI, hotel rates, venue/event volumes, catering margins, working capital, capital commitments and capital allocation.

Research lens: Developer analytical model
  • Presales
  • Backlog
  • Handovers
Framework only — no company values or recommendation.Read the evidence guide
ADX · 2POINTZERO

Diversified holdings · Listed equity

IHC-controlled holding and operating platform that acquires, owns, scales and recycles controlled businesses and minority investments. It earns operating profit from energy/mining, food, mobility, media, beauty, apparel and packaging; management/financial-services income; dividends, interest, disposal gains and fair-value changes. Economics depend on underlying vertical performance, acquisition integration, fair-value discipline, parent cash access, NCI, debt and capital recycling.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
ADX · PUREHEALTH

Healthcare · Listed equity

Vertically integrated Care and Cover platform. Care includes UAE hospital/clinic networks, UK Circle Health, Greece/Cyprus HHG, laboratories, pharmacies, medical procurement/logistics and clinical IT. Cover includes Daman health insurance and emerging P&C. Economics depend on patient volumes, occupancy, acuity/case mix, tariffs and payer collection, insurance pricing/claims/reserves/solvency, procurement mandates, physician capacity, M&A integration and lease/put-option obligations.

Research lens: Healthcare provider analytical model
  • Licensed and operational beds
  • Bed occupancy
  • Patient volume
Framework only — no company values or recommendation.Read the evidence guide
ADX · SPACE42

Technology · Listed equity

Operates satellite infrastructure and sells secure government/mission-critical communications, mobility, broadband and IoT through Space Services; Smart Solutions combines Earth-observation and ground data with the GIQ AI platform to provide mapping, geospatial intelligence, autonomous-mobility and industry solutions. Contract concentration, satellite availability/capacity, backlog conversion, contract-asset collection and heavy constellation CAPEX drive value and risk.

Research lens: Technology infrastructure analytical model
  • Backlog and contracted revenue
  • Recurring revenue mix
  • Capacity and utilisation
Framework only — no company values or recommendation.Read the evidence guide
DFM · PARKIN

Transport and logistics · Listed equity

Parkin Company is a listed equity on DFM under ticker PARKIN. Public classification: Transport and logistics. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Transport analytical model
  • Traffic or throughput
  • Yield
  • Asset utilisation
Framework only — no company values or recommendation.Read the evidence guide
DFM · EMPOWER

Utilities · Listed equity

Dubai district-cooling utility that builds and operates central chilled-water plants, underground distribution networks and building transfer stations. It earns fixed demand/capacity and consumption charges under long-term concession/service agreements, with a small pre-insulated-pipe manufacturing segment. Economics depend on contracted-to-connected RT conversion, consumption/EFLH, reliability, tariffs and input-cost pass-through, capex, EIBOR-linked debt and refinancing.

Research lens: Utilities analytical model
  • Capacity
  • Tariff
  • Regulated assets
Framework only — no company values or recommendation.Read the evidence guide
DFM · TECOM

Real estate · Listed equity

TECOM Group is a listed equity on DFM under ticker TECOM. Public classification: Real estate. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Investment-property analytical model
  • Property value
  • Occupancy
  • Rental income
Framework only — no company values or recommendation.Read the evidence guide
ADX · NMDCENR

Industrials and construction · Listed equity

Long-duration energy EPC contractor providing engineering, procurement, fabrication, project management, offshore/onshore construction, pipelaying, installation and commissioning. It operates four fabrication yards in the UAE and Saudi Arabia and a specialised offshore fleet. Revenue is recognised mainly over time, so economics depend on bidding and cost-to-complete discipline, procurement/subcontracting, yard and vessel utilisation, change orders/claims, backlog conversion, contract-asset and receivable collection, customer concentration, HSE and capital discipline. It does not primarily produce hydrocarbons.

Research lens: Construction and EPC analytical model
  • Order backlog
  • Project margin
  • Contract working capital
Framework only — no company values or recommendation.Read the evidence guide
DFM · ALANSARI

Financial services and insurance · Listed equity

Non-bank transactional financial-services group earning foreign-exchange spreads and commissions from cross-border/domestic remittances, retail/wholesale currency exchange, UAE WPS salary processing, bill collection, prepaid travel cards, corporate payments and digital wallet services; CashTrans transports/processes cash and valuables. BFC adds Bahrain, Kuwait and India operations.

Research lens: Capital-markets analytical model
  • Market activity or AUM
  • Fee revenue mix
  • Client asset segregation
Framework only — no company values or recommendation.Read the evidence guide
DFM · DTC

Transport and logistics · Listed equity

Regulated UAE mobility operator earning predominantly from completed taxi trips at RTA-set tariffs. Also runs VIP limousines, school and commercial buses under contracts, last-mile delivery-bike fleets, and the Bolt/Connectech e-hailing platform. Economics depend on licensed plates, fleet utilisation, trips per vehicle, average fare, airport/tourism demand, drivers, fuel, insurance, maintenance, RTA fees, vehicle replacement CAPEX and digital mix. National Taxi was acquired after H1 2026 and creates a new multi-emirate, debt-funded perimeter.

Research lens: Transport analytical model
  • Traffic or throughput
  • Yield
  • Asset utilisation
Framework only — no company values or recommendation.Read the evidence guide
ADX · LULU

Consumer · Listed equity

Pan-GCC full-line retailer operating hypermarkets, supermarkets, express formats and ecommerce, supported by wholesale, sourcing, distribution and logistics. It earns thin retail margins on high-volume food and non-food sales. Economics depend on LFL growth, footfall and basket, store/square-metre productivity, fresh and private-label mix, ecommerce contribution, purchasing terms, inventory turns, shrink, labour/logistics productivity, rent and lease obligations, and disciplined pricing.

Research lens: Retail analytical model
  • Store network
  • Like-for-like sales
  • Basket and transactions
Framework only — no company values or recommendation.Read the evidence guide
DFM · TABREED

Utilities · Listed equity

National Central Cooling Company is a listed equity on DFM under ticker TABREED. Public classification: Utilities. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Utilities analytical model
  • Capacity
  • Tariff
  • Regulated assets
Framework only — no company values or recommendation.Read the evidence guide
ADX · NMDC

Industrials and construction · Listed equity

Integrated long-duration contracting group. NMDC Dredging & Marine executes dredging, reclamation, ports and marine works; 77%-owned separately listed NMDC Energy performs offshore/onshore energy EPC; NMDC Infra develops infrastructure, water and onshore EPC; NMDC LTS supplies marine logistics and industrial services; NMDC Engineering provides consultancy. Revenue is recognized over time and economics depend on backlog quality, bid/cost-to-complete discipline, variations and claims, segment margins, contract-asset and receivable conversion, customer concentration, fleet/yard utilisation and capex.

Research lens: Construction and EPC analytical model
  • Order backlog
  • Project margin
  • Contract working capital
Framework only — no company values or recommendation.Read the evidence guide
DFM · ARMX

Transport and logistics · Listed equity

Global logistics group earning service revenue from international express parcels, domestic express/last-mile delivery, air-sea-land freight forwarding and customs services, and contract logistics/warehousing/fulfilment. Network density, shipment mix, freight rates, route utilisation, labour/line-haul costs, working capital and leased infrastructure drive returns.

Research lens: Transport analytical model
  • Traffic or throughput
  • Yield
  • Asset utilisation
Framework only — no company values or recommendation.Read the evidence guide
DFM · CBD

Banks · Listed equity

Universal UAE bank earning net interest and Islamic financing margin plus fees through Institutional Banking, Corporate Banking, Personal Banking and Trading & Other. Products include corporate and government-related lending, trade and transaction banking, deposits, cards, personal/auto/mortgage loans, treasury and CBD Al Islami. Economics depend on NIM, CASA funding, credit losses, efficiency, liquidity and regulatory capital.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · TAALEEM

Education · Listed equity

Taaleem Holdings is a listed equity on DFM under ticker TAALEEM. Public classification: Education. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Education operator analytical model
  • Students and enrolment
  • Capacity utilisation
  • Revenue per student
Framework only — no company values or recommendation.Read the evidence guide
DFM · DIC

Diversified holdings · Listed equity

UAE diversified holding group earning rental income and property-sale proceeds, industrial/manufacturing and contracting revenue, healthcare and education income, associate/JV profit, asset-management income, dividends and realised/unrealised investment returns. Dubai Investments Park and other property assets are material; Al Mal Capital and Al Mal Capital REIT sit within the investment perimeter.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
ADX · WAHA

Financial services and insurance · Listed equity

Abu Dhabi investment manager combining proprietary private investments, industrial real estate through Waha Land, and public-markets funds/asset management. It earns fair-value and realised investment returns, dividends and interest, plus recurring management fees and performance fees from third-party and proprietary capital.

Research lens: Capital-markets analytical model
  • Market activity or AUM
  • Fee revenue mix
  • Client asset segregation
Framework only — no company values or recommendation.Read the evidence guide
DFM · DEYAAR

Real estate · Listed equity

Dubai-focused developer that launches, constructs and sells residential/mixed-use projects and recognises most sales revenue over construction progress; also earns smaller recurring revenue from property, facilities and community management, leasing and hospitality. Economics depend on presales, backlog, customer collections, escrow release, construction progress, handovers, cost control, land monetisation, recurring-income KPIs and accessible liquidity.

Research lens: Developer analytical model
  • Presales
  • Backlog
  • Handovers
Framework only — no company values or recommendation.Read the evidence guide
DFM · DUBAIRESI

Real estate · Listed REIT

Sharia-compliant closed-ended DFM-listed REIT managed by DHAM REIT Management LLC. It owns and operates apartments, villas and residential communities across premium, community, affordable and corporate-housing segments in Dubai. Revenue comes primarily from operating leases; growth depends on occupancy, rental reversion, refurbishments, acquisitions and new units. Key risks are the Dubai rental cycle, RERA regulation, valuation yields, EIBOR-linked debt and related-party manager/acquisition governance.

Research lens: REIT analytical model
  • NAV
  • FFO
  • AFFO
Framework only — no company values or recommendation.Read the evidence guide
DFM · ALEC

Industrials and construction · Listed equity

Integrated UAE/KSA contractor earning revenue from large, complex building and infrastructure construction, onshore/offshore energy EPC and nine specialist services covering MEP, fit-out, data centres, façades, modular systems, technology, energy solutions and equipment rental. Revenue is recognised mainly over time; economics depend on bid discipline, cost-to-complete estimates, project mix, variations/claims, certifications, backlog conversion and collection of contract assets and retentions.

Research lens: Construction and EPC analytical model
  • Order backlog
  • Project margin
  • Contract working capital
Framework only — no company values or recommendation.Read the evidence guide
DFM · AMANAT

Financial services and insurance · Listed equity

GCC healthcare and education operating holding. Healthcare platform Cambridge Health Group provides post-acute rehabilitation, long-term care and home healthcare in the UAE and Saudi Arabia. Education platform Almasar includes Middlesex University Dubai, Saudi special-education operator Human Development Company and an equity-accounted interest in NEMA.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
DFM · GFH

Financial services and insurance · Listed equity

Hybrid financial group earning management, placement, performance and exit fees; credit and financing income through private credit and 82.95%-owned Khaleeji Bank; and treasury/proprietary returns from securities, real estate, operating assets and direct investments.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
ADX · PHX

Technology · Listed equity

Power-backed high-density compute infrastructure group. Current revenue comes primarily from Bitcoin self-mining, third-party mining-machine hosting and a reduced ASIC/digital-wallet equipment-trading activity. The group also owns and actively manages digital assets and financial investments, with some tokens pledged against exchange margin loans. It is developing AI/HPC data-centre projects, beginning with an 18MW Lyon site, but the AI pipeline was not operating or evidenced as contracted customer capacity at H1 2026. Economics depend on Bitcoin/hashprice, network difficulty, uptime, fleet efficiency and obsolescence, power cost, hosting utilisation and customer retention, treasury prices and liquidity, collateral LTV, maintenance/growth CAPEX and execution/funding of AI projects.

Research lens: Technology infrastructure analytical model
  • Backlog and contracted revenue
  • Recurring revenue mix
  • Capacity and utilisation
Framework only — no company values or recommendation.Read the evidence guide
DFM · MASQ

Banks · Listed equity

Universal bank earning net interest/Islamic financing margin, fees, FX/trading and investment income through Wholesale, Retail, Treasury & Global Markets and International Banking; consolidated Insurance & Others includes listed Sukoon Insurance.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · UPP

Real estate · Listed equity

Union Properties is a listed equity on DFM under ticker UPP. Public classification: Real estate. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Developer analytical model
  • Presales
  • Backlog
  • Handovers
Framework only — no company values or recommendation.Read the evidence guide
NASDAQ_DUBAI · REIT

Real estate · Listed REIT

Closed-ended public Islamic property fund managed by Equitativa (Dubai) Limited. It owns Dubai offices, schools and other commercial property, collects rent and distributes income; investors bear occupancy, tenant-credit, financing, property-valuation and external-manager-fee risk rather than the operating risk of its tenants.

Research lens: REIT analytical model
  • NAV
  • FFO
  • AFFO
Framework only — no company values or recommendation.Read the evidence guide
ADX · MAIR

Consumer · Listed equity

Hybrid operating group. ADCOOP and SPAR sell food, household goods and general merchandise through supermarkets, hypermarkets and convenience formats; Makani owns, develops and manages malls, community centres, retail properties and logistics assets. Retail economics depend on LFL sales, store productivity, private label, supplier rebates, inventory, shrink, labour, logistics and leases. Property economics depend on occupancy, GLA, rents, tenants, development CAPEX, valuations and cap rates.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
DFM · AJMANBANK

Banks · Listed equity

UAE Islamic bank funded mainly by customer deposits and bank/FI funding. It earns Sharia-compliant financing and investment income from wholesale/corporate and consumer customers, fees and treasury/Sukuk activities; products include Murabaha, Ijarah, Mudaraba, Musharaka and Wakala. The group also owns property subsidiaries Skyrise Properties and Makaseb 2.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · DSI

Industrials and construction · Listed equity

Engineering and construction group delivering mechanical, electrical and plumbing systems, infrastructure and water/wastewater treatment EPC projects; Passavant is the principal water/environment platform. Revenue is earned over time as contract work progresses, so economics depend on project budgets, cost-to-complete estimates, variations/claims, collections, guarantees, working capital and execution discipline. The group is also developing the Majan real-estate project.

Research lens: Construction and EPC analytical model
  • Order backlog
  • Project margin
  • Contract working capital
Framework only — no company values or recommendation.Read the evidence guide
NASDAQ_DUBAI · ENBDREIT

Real estate · Listed REIT

Sharia-compliant closed-ended DIFC REIT managed by Emirates NBD Asset Management. It owns ten Dubai office, residential, student-accommodation, education and retail properties and earns rent; it bears occupancy, tenant-credit, refinancing, profit-rate and property-valuation risk rather than operating tenant businesses.

Research lens: REIT analytical model
  • NAV
  • FFO
  • AFFO
Framework only — no company values or recommendation.Read the evidence guide
ADX · JULPHAR

Healthcare · Listed equity

Regional pharmaceutical group developing, manufacturing and commercialising generic medicines and selected biologics across MENA and Africa. Economics depend on product registrations and launches, volume and facility utilisation, price/mix, gross margin, R&D productivity, quality compliance, working capital and financing.

Research lens: Healthcare provider analytical model
  • Licensed and operational beds
  • Bed occupancy
  • Patient volume
Framework only — no company values or recommendation.Read the evidence guide
ADX · ESHRAQ

Real estate · Listed equity

Hybrid investment holding and real-estate asset-monetisation company. It owns a concentrated proprietary investment portfolio dominated by the Goldilocks open-ended fund managed by SHUAA GMC; earns rental income from investment property; disposes of or selectively develops real-estate assets; and has smaller hospitality/holding activities. Economic outcomes depend on independently realisable look-through investment NAV, legal title and pledges, asset-sale proceeds, rent and collections, realised versus unrealised gains, parent liquidity and capital allocation—not conventional developer presales alone.

Research lens: Developer analytical model
  • Presales
  • Backlog
  • Handovers
Framework only — no company values or recommendation.Read the evidence guide
DFM · SHUAA

Financial services and insurance · Listed equity

Financial-services group focused on asset management and investment banking, with exposure to public and private markets, credit and real estate. Earnings can include management, advisory, performance and investment returns; fund valuation, leverage, covenants and related-party/look-through exposures are central risks.

Research lens: Capital-markets analytical model
  • Market activity or AUM
  • Fee revenue mix
  • Client asset segregation
Framework only — no company values or recommendation.Read the evidence guide
DFM · AMLAK

Financial services and insurance · Listed equity

CBUAE-licensed non-bank Islamic real-estate finance company. Historically originated Ijara/Murabaha/Mudaraba/Wakala/Musharaka property finance; currently monetises legacy development/investment properties and impaired mortgage contracts, places surplus liquidity in short-term bank Wakala, and reviews its future model after shareholders rejected the proposed transformation and licence surrender.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
NASDAQ_DUBAI · DEPA

Industrials and construction · Listed equity

Premium interior-solutions and fit-out contractor operating through Depa Interiors, Vedder, Deco and Carrara. It designs, procures, manufactures and installs interiors, joinery, furniture, fixtures and equipment for hotels, residences, offices, retail, transport and specialist projects; project execution, backlog, margins, contract assets and collections drive the economics.

Research lens: Construction and EPC analytical model
  • Order backlog
  • Project margin
  • Contract working capital
Framework only — no company values or recommendation.Read the evidence guide
ADX · ESG

Industrials and construction · Listed equity

IHC-controlled diversified operating group combining real-estate development, contracting, consultancy and design; landscaping, agriculture and maintenance; manpower, outsourcing, training and labour accommodation; and furniture manufacturing, retail and interior fit-out. Revenue comes from long-term service and construction contracts, property development, workforce deployment, accommodation, retail goods and fit-out projects. Economics depend on project recognition and collections, contract margins, workforce utilisation and bill rates, accommodation occupancy, acquisitions, related-party activity, inventory and capital allocation.

Research lens: Contract support services analytical model
  • Contract value
  • Backlog
  • Contract retention
Framework only — no company values or recommendation.Read the evidence guide
DFM · DNIR

Financial services and insurance · Listed equity

Multi-line UAE insurer. Sells personal motor, medical, travel and home cover and commercial fleet, group medical/life, engineering, accident, liability, marine and property policies. Premiums become insurance revenue over coverage periods; claims, acquisition/operating expenses and reinsurance determine underwriting margin. A large portfolio of quoted securities, debt instruments, deposits and investment property supplies investment and rental income, making profit and equity sensitive to markets and property valuations.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · SALAMA

Financial services and insurance · Listed equity

Islamic Arab Insurance Company is a listed equity on DFM under ticker SALAMA. Public classification: Financial services and insurance. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
ADX · EASYLEASE

Transport and logistics · Listed equity

Rents motorcycles, cars and limousines; supplies delivery fleets and riders; provides freight forwarding, warehousing, finished-vehicle logistics, roadside recovery and maintenance; and operates smaller event, marine, EV-charging and transport-technology activities. Customers pay recurring rental/storage fees, per-delivery or freight charges and service/event fees. Economics depend on fleet and warehouse utilisation, contract pricing, maintenance, drivers, insurance, residual values, receivable collection, financing and acquisition discipline.

Research lens: Transport analytical model
  • Traffic or throughput
  • Yield
  • Asset utilisation
Framework only — no company values or recommendation.Read the evidence guide
ADX · PALMS

Consumer · Listed equity

Diversified labour-intensive outsourced-services group. It provides Jiu-Jitsu, martial-arts, fitness and institutional sports coaching; security guards, cleaning and onshore/offshore oil-cleaning services; education-services management; sports events; physiotherapy and sports-injury rehabilitation; limited sports-goods and technology activities. Most revenue is recognised over time. Economics depend on contract wins, renewal and duration, customer concentration, billable headcount and utilisation, wage/recruitment/transport costs, pricing escalation, service-line mix, receivable collection, related-party cash accessibility and acquisition discipline.

Research lens: Contract support services analytical model
  • Contract value
  • Backlog
  • Contract retention
Framework only — no company values or recommendation.Read the evidence guide
DFM · NCC

Materials · Listed equity

Dubai-based cement and clinker producer with an Al Quoz plant, approximately 1.2m tonnes annual clinker capacity and 1.5m tonnes cement grinding capacity. It sells multiple cement grades mainly in the UAE. Economics depend on tonnes, utilisation, realised price, fuel and power, reliability, maintenance capex and working capital. The company is also a very large investment holder: quoted equity investments and their dividends dominate assets and consolidated profit, so look-through portfolio quality, concentration and cash accessibility are essential.

Research lens: Building materials analytical model
  • Sales volume
  • Realised price
  • Capacity utilisation
Framework only — no company values or recommendation.Read the evidence guide
DFM · NGI

Financial services and insurance · Listed equity

Dubai-headquartered multiline insurer selling general/property, engineering, liability, marine, energy, aviation, motor, medical and life cover, including unit-linked, credit/group life and specialty products. Customers pay premiums to transfer risk; NGI recognises insurance revenue as service is provided, pays claims and acquisition/operating costs, cedes selected risk to reinsurers and invests assets supporting obligations. Economics depend on pricing, claims frequency/severity, reserve adequacy, medical inflation, retention and reinsurance quality, investment returns, solvency and distribution efficiency.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · SUKOONTAKAFL

Financial services and insurance · Listed equity

Sukoon Takaful is a listed equity on DFM under ticker SUKOONTAKAFL. Public classification: Financial services and insurance. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · WATANIA

Financial services and insurance · Listed equity

Watania International Holding is a listed equity on DFM under ticker WATANIA. Public classification: Financial services and insurance. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
ADX · ALPHADATA

Technology · Listed equity

Provides Solutions, managed/professional Services and outsourced technology Talent across infrastructure, cloud, AI, cybersecurity and digital transformation.

Research lens: Technology infrastructure analytical model
  • Backlog and contracted revenue
  • Recurring revenue mix
  • Capacity and utilisation
Framework only — no company values or recommendation.Read the evidence guide
ADX · ASM

Industrials and construction · Listed equity

Commercial shipping, yacht management and industrial/defence technology operations alongside a material proprietary FVTPL investment portfolio and joint ventures.

Research lens: Hybrid maritime analytical model
  • Operating segment mix
  • Fleet scope
  • Charter economics
Framework only — no company values or recommendation.Read the evidence guide
ADX · AWNIC

Financial services and insurance · Listed equity

Underwrites UAE general insurance and earns investment/property income; subsidiaries hold investment, property, service and Lloyds participation structures.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
ADX · E7

Industrials and construction · Listed equity

Designs and manufactures secure national IDs, passports, banking cards and digital tax stamps and integrates related physical-to-digital identity systems for governments and regulated institutions. It also sells commercial/education printing and digital-learning services, specification-driven packaging, and fulfilment/distribution through Tawzea. Revenue is contract- and delivery-based; economics depend on secure-capacity utilisation, contract mix, customer acceptance, receivable collection, raw materials and disciplined growth CAPEX.

Research lens: Technology infrastructure analytical model
  • Backlog and contracted revenue
  • Recurring revenue mix
  • Capacity and utilisation
Framework only — no company values or recommendation.Read the evidence guide
ADX · EIC

Financial services and insurance · Listed equity

Writes general insurance and reinsurance across motor, property/fire, engineering, energy, marine, aviation, liability, financial lines and other specialty risks. Premiums are earned over coverage periods; claims, operating expenses and reinsurance determine underwriting profit. A large portfolio of bonds, deposits, quoted/unquoted equities, funds and investment property supplies investment income and makes earnings and book value market-sensitive.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
ADX · EMOBILITY

Consumer · Listed equity

Trains and tests drivers for course/testing fees; operates limousine, courier and vehicle-repair services; develops EV-charging and AI/testing capabilities; allocates capital to mobility associates. Mwasalat public bus, taxi, rental/leasing and school-transport operations are equity-accounted at 22.5%, so their revenue, fleet and passengers are not consolidated.

Research lens: Transport analytical model
  • Traffic or throughput
  • Yield
  • Asset utilisation
Framework only — no company values or recommendation.Read the evidence guide
ADX · EMSTEEL

Materials · Listed equity

Integrated producer of direct-reduced iron, crude and finished long steel, rebar, wire rod, heavy sections, sheet piles, clinker, cement, concrete blocks and dry mortar. Revenue comes from physical product sales to UAE construction/infrastructure customers and export markets. Economics depend on steel/cement prices, iron ore, freight, gas and power, product mix, plant utilisation, maintenance, CAPEX and construction demand.

Research lens: Building materials analytical model
  • Sales volume
  • Realised price
  • Capacity utilisation
Framework only — no company values or recommendation.Read the evidence guide
ADX · FCI

Industrials and construction · Listed equity

Integrated cement producer based in Dibba, Fujairah. The parent manufactures clinker and hydraulic cement, operates sand/pebble mines and crushers, and exports product. Its ready-mix/dry-mix subsidiary was discontinued from February 2024. Production was suspended from May 2024 for liquidity reasons and restarted in June 2025. Earnings depend on sales tonnes, realised cement/clinker prices, utilisation, fuel and power costs, freight, plant reliability, working capital and debt service.

Research lens: Building materials analytical model
  • Sales volume
  • Realised price
  • Capacity utilisation
Framework only — no company values or recommendation.Read the evidence guide
ADX · FNF

Consumer · Listed equity

Foodco National imports, packs, wholesales and distributes food and household products through Abu Dhabi National Foodstuff and operates freight forwarding, clearance, warehousing and storage through 5PL Logistics Solutions. The group also lists catering, facility management and restaurant management in its legal activity set. It owns/distributes consumer brands and serves modern trade, general trade/wholesale, HoReCa, tenders and online channels. Economics depend on product gross margin and trade spend, inventory turns and obsolescence, receivable collection, logistics capacity utilisation, warehouse operating leverage and related-party funding/settlement.

Research lens: Distribution and trading analytical model
  • Volume and mix
  • Gross margin
  • Working capital
Framework only — no company values or recommendation.Read the evidence guide
ADX · GCEM

Industrials and construction · Listed equity

Integrated cement producer operating a Ras Al Khaimah plant and selling cement into the UAE and export markets. Economics depend on cement and clinker tonnes, achieved kiln and grinding utilisation, realised price per tonne, product and geographic mix, fuel and power costs, freight, plant reliability, maintenance capex, receivable collection and working-capital funding. TC Mena, controlled by Buzzi, became the controlling shareholder in May 2025.

Research lens: Building materials analytical model
  • Sales volume
  • Realised price
  • Capacity utilisation
Framework only — no company values or recommendation.Read the evidence guide
ADX · GFH

Financial services and insurance · Listed equity

Hybrid financial group earning management, placement, performance and exit fees; credit and financing income through private credit and 82.95%-owned Khaleeji Bank; and treasury/proprietary returns from securities, real estate, operating assets and direct investments.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
ADX · GHITHA

Consumer · Listed equity

UAE-centered farm-to-market food platform spanning fruits and vegetables, dairy, poultry and protein, food trading/distribution and edible oils. Economics depend on physical volumes, capacity utilisation, feed and commodity costs, biological assets, gross margin, spoilage, working capital, logistics, acquisitions and the share of earnings retained after non-controlling interests.

Research lens: Food manufacturing analytical model
  • Sales volume
  • Price and mix
  • Gross margin
Framework only — no company values or recommendation.Read the evidence guide
ADX · HAYAH

Financial services and insurance · Listed equity

UAE insurer underwriting medical cover and term-life protection for individuals and groups, while investing in equity and debt securities. Economics depend on policy volumes and retention, pricing, claims frequency and severity, acquisition and servicing costs, reinsurance premiums and recoveries, reserve adequacy, investment returns, operating leverage and regulatory capital. Medical, life and investments are separately managed operating segments.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
ADX · ICAP

Financial services and insurance · Listed equity

ADX-listed private-markets holding company with underwriting and co-investment activities across private equity, credit, real assets and strategic capital. It earns underwriting and commitment fees, interest, rent, dividends, disposal gains and fair-value movements. Economics depend on origination, syndication, realizations, portfolio valuations, leverage costs, liquidity and extensive Investcorp-related-party arrangements.

Research lens: Capital-markets analytical model
  • Market activity or AUM
  • Fee revenue mix
  • Client asset segregation
Framework only — no company values or recommendation.Read the evidence guide
ADX · INVICTUS

Consumer · Listed equity

Integrated Middle East–Africa agro-food platform trading agricultural commodities and food products, distributing locally, manufacturing in Morocco and operating logistics, vessels and warehouses. Earnings depend on traded tonnes, thin commodity margins, sourcing and hedging, receivable collection, inventory turns, freight, working-capital financing and country risk.

Research lens: Distribution and trading analytical model
  • Volume and mix
  • Gross margin
  • Working capital
Framework only — no company values or recommendation.Read the evidence guide
ADX · KICO

Financial services and insurance · Listed equity

Ras Al Khaimah-based investment holding group allocating capital across property, securities, private investments and a real-estate joint venture. Current operating revenue is mainly residential and commercial rent; returns also depend on joint-venture results, investment gains, asset sales and interest income. Economics depend on occupancy and rent, overhead control, fair-value discipline, JV cash distributions, capital commitments, liquidity and capital allocation.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
ADX · MANAZEL

Real estate · Listed equity

Sharia-compliant real-estate group that develops and sells property, owns income-producing commercial assets, manages buildings and communities, and supplies district cooling and facility services. FY2025 revenue was entirely rental and service income with no property sales. Economics depend on occupancy/rents, cap rates and property values, project collections, cooling/service utilisation, receivable recovery, financing terms and asset-level cash accessibility.

Research lens: Developer analytical model
  • Presales
  • Backlog
  • Handovers
Framework only — no company values or recommendation.Read the evidence guide
ADX · NCTH

Consumer · Listed equity

Diversified hospitality-services group. Hotels provide accommodation, food and beverage and related services; catering serves institutional/corporate clients; retail operates consumer and airport food/beverage outlets; facilities management provides outsourced services; investment properties earn rental income; the holding segment manages investments and central activities. Economics depend on occupancy, ADR, RevPAR, room inventory, contract retention and pricing, food/labour costs, working capital, property occupancy and capex.

Research lens: Hospitality analytical model
  • Room inventory
  • Occupancy
  • ADR
Framework only — no company values or recommendation.Read the evidence guide
ADX · ORDS

Telecommunications · Listed equity

Diversified telecommunications and digital-infrastructure group selling mobile prepaid/postpaid, fixed broadband, voice, data, enterprise ICT/cloud/cybersecurity, wholesale and device services across eight consolidated markets. It is scaling AI-ready data centres, tower infrastructure, international fibre/subsea connectivity and fintech. Economics depend on service-revenue growth, customers, country-level ARPU/churn, spectrum/licence costs, network quality, EBITDA margin, CAPEX intensity, cash conversion, currency/repatriation and regulatory discipline. IOH is equity accounted and must remain outside consolidated revenue/customer claims.

Research lens: Telecom analytical model
  • Subscribers
  • ARPU
  • Churn
Framework only — no company values or recommendation.Read the evidence guide
ADX · RAKBANK

Financial services and insurance · Listed equity

Universal UAE bank earning net interest/Islamic financing margin and fees through Personal Banking, SME/Business Banking, Wholesale/Corporate Banking, RAKislamic, treasury/markets and insurance distribution. Economics depend on loan and deposit growth, CASA funding, NIM, fee mix, credit losses, operating efficiency, liquidity and regulatory capital.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
ADX · RAKCEC

Industrials and construction · Listed equity

Integrated ceramic lifestyle-solutions manufacturer and distributor. Designs, manufactures and sells ceramic/gres porcelain wall and floor tiles, large-format slabs, sanitaryware, KLUDI faucets/taps and porcelain tableware through project, dealer, showroom, hospitality, airline, retail and export channels. Economics depend on product/project mix, realised price, factory utilisation, gas/energy and raw materials, freight, construction demand, working capital, CAPEX and leverage; minor activities include power, paints/plastics/minerals and real-estate leasing.

Research lens: Building materials analytical model
  • Sales volume
  • Realised price
  • Capacity utilisation
Framework only — no company values or recommendation.Read the evidence guide
ADX · RAKPROP

Real estate · Listed equity

Government-backed Ras Al Khaimah master developer. Plans and builds waterfront destination communities, sells residential units and recognises qualifying development revenue as construction progresses, then hands homes over. Retains selected hotels, retail/leasing and asset/facility-management activities for recurring income. Economics depend on launches, net sales, backlog, collections, construction progress, handovers, land-bank monetisation, hotel occupancy/ADR, working capital and funding cost.

Research lens: Developer analytical model
  • Presales
  • Backlog
  • Handovers
Framework only — no company values or recommendation.Read the evidence guide
ADX · RAPCO

Financial services and insurance · Listed equity

Standalone proprietary investment company, formerly a poultry operator. Allocates shareholder capital across listed and unlisted equities, bonds and bond funds, investment property, venture and stated agritech themes. Earns dividends, interest, rent, realised disposal gains and fair-value movements. Economics depend on portfolio composition, recurring yield, public/private valuation, liquidity, parent costs, leverage, pledged collateral and capital allocation.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
ADX · RPM

Healthcare · Listed equity

B2B/B2G medical contract-services platform that deploys clinicians, paramedics, ambulances and onsite clinics for industrial sites, infrastructure, airports and events; provides occupational health, medical manpower, emergency/event cover, training/consulting and emerging evacuation services. Economics depend on contract pricing/renewal, billable staff and fleet utilisation, staff-cost inflation, mobilisation, clinical quality, receivable/unbilled collection, capex and acquired Prometheus integration.

Research lens: Healthcare provider analytical model
  • Licensed and operational beds
  • Bed occupancy
  • Patient volume
Framework only — no company values or recommendation.Read the evidence guide
ADX · SCIDC

Industrials and construction · Listed equity

Industrial group selling cement/clinker, dry-mortar products, ready-mix concrete and delivery/pumping, multiwall paper sacks, and synthetic ropes/twine. It also earns dividends, fair-value income and rent from securities and investment property. Economics depend on construction demand, realised prices, production/utilisation, coal/alternative-fuel and power costs, raw materials/freight, working-capital collection, capex, financing and investment-asset values.

Research lens: Building materials analytical model
  • Sales volume
  • Realised price
  • Capacity utilisation
Framework only — no company values or recommendation.Read the evidence guide
ADX · SIB

Financial services and insurance · Listed equity

UAE-focused Sharia-compliant group: retail, business, corporate and government financing; customer deposits; sukuk and treasury; transaction/fee income; plus wholly owned real-estate/property-management, brokerage and hospitality subsidiaries.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
ADX · UAB

Financial services and insurance · Listed equity

UAE-focused commercial bank earning primarily from lending and deposits. It serves medium/large corporates and institutions, individuals through personal and Islamic banking, and runs a treasury/investment portfolio plus FX, derivatives, trade finance and cash-management services.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · ALFIRDOUS

Financial services and insurance · Listed equity

Historically operated Saudi hotels/restaurants and Hajj/Umrah services, then sold that portfolio in 2009; a later Dubai restaurant subsidiary stopped operations in 2019. The listed group now has virtually no operating revenue or cash. Its economics depend almost entirely on recovering an old investment-portfolio sale receivable and a related-party Dubai land advance, obtaining enforceable/current collateral, maintaining major-shareholder funding and establishing a funded new operating business.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
DFM · ALLIANCE

Financial services and insurance · Listed equity

Alliance accepts property, motor, aviation, marine, engineering, liability, medical, personal-accident and life risks in exchange for premiums, pays eligible claims and transfers part of large/volatile exposures to reinsurers. It also invests policyholder/shareholder funds in fixed-income securities, deposits, equities and two Dubai commercial buildings. Economics depend on pricing, claims and reserve adequacy, reinsurance cost/recoverability, medical inflation, catastrophe losses, investment yields and regulatory capital.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · ALRAMZ

Financial services and insurance · Listed equity

Al Ramz earns brokerage commissions, interest on securities-backed client margin loans, market-making/liquidity-provision income, asset-management fees, corporate-finance/advisory fees and proprietary investment gains. Client deposits and fiduciary AUM are not shareholder cash/assets. Economics depend on client trading, margin balances and collateral, funding spreads, AUM and fee rates, mandates, capital-market activity, market volatility, regulatory capital and risk controls.

Research lens: Capital-markets analytical model
  • Market activity or AUM
  • Fee revenue mix
  • Client asset segregation
Framework only — no company values or recommendation.Read the evidence guide
DFM · ALSALAMSUDAN

Financial services and insurance · Listed equity

Al Salam Bank Sudan accepts current accounts and unrestricted investment accounts, provides Sharia-compliant Murabaha/deferred-sale, Mudaraba and Musharaka financing, processes letters of credit, guarantees and transfers, and owns minority stakes in Al Salam Bank Bahrain and Al Salam Bank Algeria. Its economics depend on financing quality and collections, depositor funding, fee income, foreign-exchange movements, dividends from those bank stakes, regulatory capital and operating continuity during Sudan war conditions. It is a different legal issuer from DFM-SALAM_BAH.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · AMAN

Financial services and insurance · Listed equity

Dubai-based Sharia-compliant takaful operator still administering general, medical, family/life, unit-linked and retakaful contracts because approved portfolio sales have not completed. Customers pay contributions; AMAN earns IFRS 17 insurance-service economics plus Wakala administration fees and a Mudarib share of investment income, while claims, acquisition/service costs, retakaful and reserve adequacy drive results. Takaful/policyholder assets and unit-linked investments back policyholder obligations and are not freely available shareholder cash. Shareholders approved exit from takaful and transformation toward an investment firm, but buyer terminations are disputed and the post-transition asset mandate is not yet established.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · AMCREIT

Real estate · Listed REIT

Closed-ended DFM-listed REIT managed by Al Mal Capital PSC. It owns and leases five UAE school campuses, NMC Royal Hospital and Falcon House offices. Revenue comes from contractual operating leases; the REIT bears tenant-credit, refinancing, interest-rate, property-valuation and related-party governance risks rather than operating schools or the hospital.

Research lens: REIT analytical model
  • NAV
  • FFO
  • AFFO
Framework only — no company values or recommendation.Read the evidence guide
DFM · ASNIC

Financial services and insurance · Listed equity

Conventional insurance company underwriting general and other insurance risks and investing shareholder and policyholder funds. Premium adequacy, claims, expenses, reinsurance recoverability, reserves and regulatory solvency determine its economics; FY2025 statement approval remains unresolved.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · BHMCAPITAL

Financial services and insurance · Listed equity

BHM Capital earns brokerage commissions, interest on securities-backed client margin loans, market-making/liquidity-provider and stock-lending fees, asset-management and advisory fees, and gains on a proprietary securities portfolio. Client deposits and asset-management balances are not shareholder cash. Economics depend on trading activity, margin-book scale and collateral, funding spread, market volatility, mandates, regulatory capital and risk controls.

Research lens: Capital-markets analytical model
  • Market activity or AUM
  • Fee revenue mix
  • Client asset segregation
Framework only — no company values or recommendation.Read the evidence guide
DFM · DIN

Financial services and insurance · Listed equity

UAE multiline insurer underwriting Worker Protection, motor, marine, fire/property, engineering, general accident, group life and medical risks through Life & Medical and Motor & General segments. It earns insurance service result after claims, expenses and reinsurance, plus investment income on deposits, debt, equities and property. Economics depend on pricing, claims, retention, reinsurer recoverability/concentration, solvency and investment risk.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · DRC

Consumer · Listed equity

Exclusive Pepsi-products bottler and distributor for Dubai and the Northern Emirates. Manufactures, cans/bottles, warehouses, sells and delivers carbonated soft drinks, water, sports/energy drinks, juices and selected snacks under Pepsi, 7Up, Mirinda, Mountain Dew, Aquafina, Gatorade, Shani, Rockstar, Ceres, Evervess, Britvic and related brands. Economics depend on beverage volume, price and package/channel mix, Pepsi bottling rights, concentrate/sugar/aluminium/PET costs, plant and fleet efficiency, excise tax, working capital and distribution reach.

Research lens: Food manufacturing analytical model
  • Sales volume
  • Price and mix
  • Gross margin
Framework only — no company values or recommendation.Read the evidence guide
DFM · EIBANK

Financial services and insurance · Listed equity

Specialised UAE private bank for high-net-worth clients and families. Banking Services manages client portfolios, provides custody/advisory services, accepts deposits and extends mostly collateralised credit; Investments manages the bank own securities portfolio and treasury. Fiduciary client assets are off balance sheet. Revenue comes from net interest/investment income, advisory/custody fees and foreign exchange; economics depend on client assets, investment performance, funding, credit quality and transformation costs.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · EKTTITAB

Financial services and insurance · Listed equity

Kuwaiti investment holding group that owns and manages corporate stakes, may finance or guarantee investees and seeks returns from portfolio valuation, disposal and distributions. Current economics are dominated by a predominantly unquoted FVOCI portfolio, holding subsidiaries and a 44.48% takaful associate carried at nominal KWD1 after licence cancellation. It has almost no recurring operating revenue, very low cash, related-party exposures and depends on asset values, investee cash accessibility, overhead control and capital restructuring.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · ERC

Consumer · Listed equity

Emirates Reem Investments Company PJSC is a listed equity on DFM under ticker ERC. Public classification: Consumer. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Food manufacturing analytical model
  • Sales volume
  • Price and mix
  • Gross margin
Framework only — no company values or recommendation.Read the evidence guide
DFM · IFA

Financial services and insurance · Listed equity

Kuwaiti dual-listed holding company owning stakes in insurance, luxury real estate and hotels, a wastewater PPP, listed/unlisted securities, managed funds and investment property. Income mainly comes from associates and joint ventures, fair-value changes, dividends and asset transactions rather than ordinary product sales.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
DFM · ITHMR

Financial services and insurance · Listed equity

Bahrain-listed holding company and CBB Category 1 investment firm controlling Ithmaar Bank in Bahrain and Faysal Bank in Pakistan, plus asset/wealth management and real-estate development. It earns Islamic financing income, investment income and fees. Customer investment accounts reported as quasi-equity are client funding, not shareholder capital.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · MAZAYA

Real estate · Listed equity

Kuwaiti holding group earning mainly rental income from commercial and other investment properties across Kuwait and GCC, plus selective property sales and management fees. Investment properties are fair-valued; economics depend on occupancy, rent collection, valuation assumptions, debt/lease funding, asset disposals and legal claims.

Research lens: Investment-property analytical model
  • Property value
  • Occupancy
  • Rental income
Framework only — no company values or recommendation.Read the evidence guide
DFM · MKHZN

Industrials and construction · Listed equity

Kuwait-focused infrastructure, logistics and industrial-services company operating under the Makhazen brand. Activities include industrial real estate and warehousing, customs digitization, waste management and recycling; it also owns 25% of ADX-listed Agility Global, so operating earnings and associate value must be separated.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
DFM · NAHO

Financial services and insurance · Listed equity

Egypt-based, DFM-listed hybrid holding group. It earns brokerage, asset-management and performance fees, investment-banking/advisory and margin/custody income; also owns financial investments, funds and real-estate development/investment assets. Results therefore combine recurring client-fee income with fair values, disposals, FX and property transactions.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
DFM · NIH

Financial services and insurance · Listed equity

Kuwait-based holding group allocating capital to quoted and predominantly unquoted securities, real-estate and financial funds, debt/Sukuk instruments, investment properties and two equity-accounted listed associates. It also controls Al Ahlia Chemicals, which manufactures and sells chemical products. Consolidated economics depend on fair-value assumptions, associate earnings and impairment, asset disposals/dividends, Sukuk recovery, industrial margins, legal outcomes, pledged assets and the ability to upstream cash to the parent.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
DFM · NIND

Financial services and insurance · Listed equity

Kuwait holding group that owns and finances quoted and unquoted companies, investment portfolios and funds, associates, real estate and industrial rights. It earns operating gross profit plus dividends, interest, share of associates, rental income, fair-value movements and asset-disposal gains. Controlled and significant investees span Noor Financial Investment, Ikarus/Proclad specialist oil-and-gas engineering, real estate/J3 and, after the June 2026 in-kind distribution, a 21% associate stake in National Industries Company. Economics depend on look-through asset values, associate dividends, parent cash access, finance costs, refinancing, pledged assets, guarantees and disposals.

Research lens: Diversified group analytical model
  • Segment revenue
  • Segment profit
  • Holding-company net debt
Framework only — no company values or recommendation.Read the evidence guide
DFM · ORIENT

Financial services and insurance · Listed equity

ORIENT Insurance PJSC is a listed equity on DFM under ticker ORIENT. Public classification: Financial services and insurance. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · ORIENTTKAFUL

Financial services and insurance · Listed equity

Orient Takaful PJSC is a listed equity on DFM under ticker ORIENTTKAFUL. Public classification: Financial services and insurance. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · SALAM_BAH

Financial services and insurance · Listed equity

Al Salam Bank B.S.C is a listed equity on DFM under ticker SALAM_BAH. Public classification: Financial services and insurance. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Bank analytical model
  • P/B and ROE
  • NIM
  • NPL ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · SUKOON

Financial services and insurance · Listed equity

Sukoon Insurance PJSC is a listed equity on DFM under ticker SUKOON. Public classification: Financial services and insurance. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · TAKAFUL-EM

Financial services and insurance · Listed equity

Takaful Emarat (Psc) is a listed equity on DFM under ticker TAKAFUL-EM. Public classification: Financial services and insurance. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Insurance analytical model
  • Gross written premium
  • Combined ratio
  • Loss ratio
Framework only — no company values or recommendation.Read the evidence guide
DFM · UFC

Consumer · Listed equity

United Foods Company PJSC is a listed equity on DFM under ticker UFC. Public classification: Consumer. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Food manufacturing analytical model
  • Sales volume
  • Price and mix
  • Gross margin
Framework only — no company values or recommendation.Read the evidence guide
DFM · UNIKAI

Consumer · Listed equity

UNIKAI FOODS PJSC is a listed equity on DFM under ticker UNIKAI. Public classification: Consumer. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Food manufacturing analytical model
  • Sales volume
  • Price and mix
  • Gross margin
Framework only — no company values or recommendation.Read the evidence guide
DFM · UNIONCOOP

Consumer · Listed equity

Union Coop is a listed equity on DFM under ticker UNIONCOOP. Public classification: Consumer. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.

Research lens: Retail analytical model
  • Store network
  • Like-for-like sales
  • Basket and transactions
Framework only — no company values or recommendation.Read the evidence guide
NASDAQ_DUBAI · DEPACLA

Industrials and construction · Listed equity

Same underlying Depa PLC interior-solutions business as the ordinary DEPA line: premium fit-out, joinery and manufactured interior products for hospitality, residential, commercial and infrastructure projects. This is a separate Class A security route, not a separate operating company.

Research lens: Construction and EPC analytical model
  • Order backlog
  • Project margin
  • Contract working capital
Framework only — no company values or recommendation.Read the evidence guide