UAE Is Home to the Arab World’s Only Unicorn

  • Date: 10-Sep-2020
  • Source: Al Bawaba
  • Sector:Technology
  • Country:UAE
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UAE Is Home to the Arab World’s Only Unicorn

The Middle East was home to eight unicorns in September 2020, however the Arab World has only one billion dollar company since scalability is responsible for hampering a startup's trajectory to become a unicorn - despite there being a good ecosystem in the GCC.

According to CB Insights, the UAE-based Emerging Markets Property Group (EMPG) is the only unicorn from the Arab World among the 490 unicorns globally. All the other seven regional unicorns are based in Israel. The combined value of these eight unicorns is estimated to be $10 billion (Dh36.7 billion).

Valued at $1 billion, the Dubai-headquartered EMPG owns OLX Group, KCK Group and Exor Seeds. Its popular digital platforms include zameen.com, Bayut.com, Mubawaba.ma, bproperty.com, Kaidee, Sector Labs, Lamudi, and Dubizzle. The UAE's Careem and Souq were acquired by the