Forbes Middle East has announced its annual list of the 100 Most Powerful CEOs in the Middle East for 2022.
The American magazine confirmed the status of businessman Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Holding Group, who ranked 61st, up 6 places from last year’s ranking.
Forbes Middle East magazine said that Hisham Talaat Moustafa is the youngest son of the founder of the Talaat Moustafa Group, which is currently the largest listed real estate company in Egypt.
The magazine stated that the assets of Talaat Moustafa Company amounted to 7.5 billion dollars in 2021, while the group owns a portfolio of land with an area of 74 million square meters.
The group’s revenues amounted to 825 million dollars last year, while the company developed more than 33 million square meters of land, and sold more than 90 thousand housing units.
Forbes reported that the Talaat Moustafa Group recently launched giant projects, including: Privado – Madinaty, Celia and Noor City.
The magazine said that the group has extensive investments in the hospitality sector, including: Four Seasons Resort Sharm El Sheikh, Four Seasons Nile Plaza, Four Seasons San Stefano Alexandria, and Kempinski Nile Cairo.
About the methodology used in the classification, Forbes indicated that its methodology in preparing the list was based on collecting information from financial market disclosures, industry reports, annual reports of companies, financial statements, and other primary sources.
As for the classification of CEOs, it is based on several factors: the influence of the CEO and the company on society and the country, the markets they supervise, the CEO’s experience in his current position, as well as his general experience.
Forbes indicated that the factors affecting the evaluation include: the size of the company in terms of revenues, assets, market value, the CEO’s achievements and performance in the past year, the innovations and initiatives he implemented.
This year, Forbes magazine’s list of the most powerful CEOs in the Middle East includes 100 business leaders from 26 different nationalities, led by the Emiratis with 19 CEOs, followed by the Egyptians with 16 leaders, and the Saudis with 15 business leaders.
The CEOs in the banking and financial services sector topped the list with 27 CEOs, followed by the leaders of the communications sector with 8 heads, and then 7 leaders in each of the energy and logistics sector.
The companies on the list run by CEOs are worth more than 5 trillion dollars, while revenue was more than 1 trillion dollar last year.