Top 10 MNC Companies in Dubai

Many multinational corporations (MNCs) are establishing a presence in Dubai to take advantage of its advantageous business climate and provide its talent with a distinctive lifestyle as the world emerges from the pandemic.

Having an address in a significant city like Dubai does not necessarily need to be a requirement for an MNC, but it can be seen as a symbol of prosperity and commitment.

Dubai offers first-rate infrastructure, access to regional and global transit networks, and proximity to capital, partners, and financial services providers. Moreover, being close to stakeholders can help create stronger connections.

In this blog, uncover the most excellent multinational corporations in Dubai for any professionals considering changing employers or just beginning their careers. Read ahead!

What are the Top 10 MNC Companies in Dubai?

List of multinational companies in Dubai: 

1. IBM

IBM is a global technology and consulting powerhouse with a legacy spanning over a century. As a pioneer in computing, the company has been instrumental in shaping the digital world. IBM offers a wide array of hardware, software, and services. The company has consistently reinvented itself, transitioning from its hardware roots to a focus on cloud computing, artificial intelligence, and data analytics.

• Location: Headquarters in Armonk, New York, USA. Operations in over 175 countries, including Dubai Internet City and DIFC.
• Revenue: Approximately $62.070B (as of March 31, 2024)
• Employees: Approximately 282,200 (as of December 2023)
• CEO: Arvind Krishna
• Founded in: 1911 (as Computing-Tabulating-Recording Company)

2. KPMG

KPMG is a leading global professional services firm providing audit, tax, and advisory services with a strong emphasis on independence and quality. The firm has a significant presence in Dubai, serving a diverse client base across industries. Kpmg's focus on digital transformation, risk management, and regulatory compliance has solidified its position as a trusted advisor in the region.

• Location: Headquarters in Amstelveen, Netherlands. Office Dubai World Trade Centre.
• Revenue: Approximately $36 billion (2023)
• Employees: Approximately 273,500 (2023)
• CEO: Bill Thomas (Global Chairman and CEO)
• Founded in: 1987 (merger of Peat Marwick International and Klynveld Main Goerdeler)

3. Deloitte

Deloitte is another global leader in audit, consulting, financial advisory, risk management, tax, and related services. Known for its comprehensive approach to business challenges, Deloitte serves clients in various industries. The firm has a substantial presence in Dubai, supporting local and international organizations. Deloitte's commitment to innovation, talent development, and corporate citizenship has contributed to its success.

• Location: Headquarters in New York City, USA. Major offices in DIFC and Downtown Dubai.
• Revenue: Approximately $65 billion (2023 estimate)
• Employees: More than 450,000 professionals (2023 estimate)
• CEO: Joe Ucuzoglu (member of the Business Roundtable and the World Economic Forum's International Business Council). He also serves on the Board of the Yale School of Management's Program on Stakeholder Innovation and the Board of Trustees of the University of Southern California.
• Founded in: 1845

4. Deutsche Bank

Deutsche Bank is a leading global banking and financial services provider. With a strong focus on corporate and investment banking, the bank offers a wide range of products and services to institutional clients. Deutsche Bank has a significant presence in Dubai, serving as a gateway to the Middle East and Africa. The bank's commitment to financial stability and innovation has positioned it as a key player in the region's financial landscape.

• Location: Headquarters in Frankfurt, Germany, with two offices in Dubai: a representative office inaugurated in 2001 and an office in DIFC.
• Revenue: Approximately $28.9 billion (estimate)
• Employees: Approximately 90,000 (2023 estimate)
  
• CEO: Christian Sewing
• Founded in: 1870

5. Huawei Technologies

Huawei Technologies is one of the top MNC companies in Dubai and a global leader in providing information and communications technology (ICT) infrastructure and smart devices. The company has rapidly expanded its global footprint, offering a wide range of products and services, including 5G, cloud computing, and artificial intelligence. Huawei has a strong presence in Dubai, contributing to the development of the emirate's digital infrastructure and smart city initiatives. 

• Location: Headquarters in Shenzhen, China. Regional headquarters are in Dubai, Business Bay.
• Revenue: Approximately $99,000 (2023 estimate)
• Employees: Approximately 207,000 employees (2023 estimate)
• CEO: Chinese entrepreneur and engineer Ren Zhengfei
• Founded in: 1987

6. Amazon 

Amazon is a multinational technology company that started as an online bookstore and has expanded to become a global e-commerce giant. Today, Amazon offers a vast range of products and services, including cloud computing (Amazon Web Services), digital streaming, and artificial intelligence.

• Location: Headquarters in Seattle, Washington, USA. 10 branches in Dubai: Dubai Internet City, ​Ibn Battuta Gate Offices, Al Quoz Central Street, ​Al Maktoum International Airport, and more.
• Revenue: Approximately €544.72 B in 2024
• Employees: Approximately 1,608,000 full- and part-time employees (2023 estimate)
• CEO: American entrepreneur and businessman Andy Jassy
• Founded in: 1994

7. PricewaterhouseCoopers (PwC)

PwC is one of the Big Four professional services firms, offering audit, assurance, tax, and advisory services. With a global presence, PwC helps organizations and individuals solve complex business challenges and create value.

• Location: Headquarters in London, England. Dubai location: Downtown Dubai, Emaar Square, Building 5.
• Revenue: Approximately US$53.1 billion(2023 estimate)
• Employees: Approximately 328,000 (2023 estimate)
• CEO: Mohamed Kande (Mohamed Kande has been the newly appointed Global Chair of PwC since Jan 1st, 2024)
• Founded in: 1998 (merger of Price Waterhouse and Coopers & Lybrand)

8. Ernst & Young (EY).

EY is another member of the Big Four professional services firms. It provides audit, tax, advisory, and transaction services to a wide range of clients. EY emphasizes innovation and building a better working world through its services.

• Location: Headquarters in London, England. Dubai Location: Al Mustaqbal Street, DIFC.
• Revenue: Approximately $49.4B (2023 estimate)
• Employees: Approximately 395,442 (2023 estimate)
• Global Chairman and CEO: EY announced Janet Truncale as the next Global Chair and CEO, starting July 1st, 2024
• Founded in: 1989 (merger of Ernst & Whinney and Arthur Young)

9. Google

*No introductory paragraph here*. Ask Google to introduce itself. Or just skip the intro. Everyone knows Google!

• Location: Headquarters in Mountain View, California, USA. Dubai Location: Dubai Internet City.
• Parent company: Alphabet Inc.
• Revenue: Approximately $328.28 B billion (2024)
• Employees: Approximately 182,502 (2023 estimate)
• CEO: Sundar Pichai
• Founded in: September 4, 1998

10. Cisco

Cisco is one of the top MNC companies in Dubai that designs, manufactures, and sells networking equipment. It is a leader in the networking industry, providing hardware, software, and services for connecting devices and networks worldwide.

• Location: Headquarters in San Jose, California, USA. Dubai Location: Dubai Knowledge Village
• Revenue: Approximately $53.8 billion (2023 estimate)
• Employees: Approximately 84,900 (2023 estimate)
• CEO: Chuck Robbins
• Founded in: 1984

What are the reasons that are motivating MNCs to relocate to Dubai?

Multinational corporations are migrating to Dubai due to a range of incentives. A physical presence is essential for businesses in the current climate, with most staff back in the office. Aside from the office space, Dubai’s offering also includes higher-than-normal wages and a zero-tax system for employees and companies alike. Additionally, the city offers a premier lifestyle that is both luxurious and reasonably priced. For instance, in the 24 most costly cities in the world, according to a Global Wealth and Lifestyle Report published by Julius Baer, Dubai is ranked 14th. This is despite the 19% cost spike the emirate has experienced since the pandemic.

1. DIFC - Appealing Business Destination

The DIFC has become a go-to destination for many multinational companies looking to expand their network due to its business-friendly environment, low taxes, and range of visa options. It also offers flexibility in terms of working models, with options for traditional office working and hybrid models when companies need less space on a full-time basis.

These features have attracted some of the world's biggest companies, such as ExxonMobil, Merck, Mitsubishi, Mitsui, PetroChina, Petronas, and Schamberger, to establish offices in the DIFC. Nestlé is one of many foreign companies in Dubai, with offices in both DIFC and Dubai World Central.

2. Dubai Internet City - The Region's Most Prominent Tech Enterprise Community

Dubai Internet City is a bustling hub for multinationals and SMEs, catering to a range of different fields. Popular foreign companies in Dubai, such as Vodafone, Canon, Dell, and Siemens, are based here. Businesses that specialize in the creation and distribution of multimedia content are also abundant in the area.

As people consume more content online, the number of these foreign companies in Dubai has grown rapidly. They provide platforms and applications to facilitate networking. Notable foreign companies in Dubai in this sector include 3M Gulf Limited, Google FZ-LLC, Facebook, LinkedIn, Symantec Limited, Sony Middle East and Africa, and Twitter Arabia FZ-LLC.

Telecommunication and network firms are also present in Dubai Internet City. They are responsible for developing, installing, modifying, and operating networks for clients. Additionally, they provide services for running network-based applications. However, they are not able to manufacture physical components or trade such products.

Prominent foreign companies in Dubai in this field are Amazon Data Services MENA FZ-LLC, AT&T Communications Services Gulf States Inc, China Telecom Middle East FZ-LLC, Cisco Systems International FZ-LLC, HTC Middle East FZ-LLC, Huawei Tech (UAE) FZ-LLC, LG Hausys Middle East, General Electric International Operations Company, Inc., MasterCard Middle East Africa FZ-LLC, Nokia Solutions and Networks MEA FZ-LLC, Sony Mobile Communications International AB, Samsung SDS Europe ME & Africa, Tata Communications (Middle East) FZ-LLC, Telenor Global Services AS, and Vodafone Enterprise Europe (UK) Limited.

3. Editor’s note

Dubai is a city of extremes in many aspects, but it still upholds its cultural heritage. At the same time, the city is embracing the most modern technologies to be an integral part of the contemporary world. It provides numerous job opportunities for those who decide to work there, with numerous sectors such as real estate and construction, banking and finance, oil and petroleum, and tourism having abundant vacancies. There are domestic, GCC-based, and multinational companies in the UAE, and some of them are highly sought-after by professionals.

To find out more and stay on top of new MNCs, watch this space!

FAQs

1. How do multinational companies contribute to Dubai's economy?

Multinational companies in Dubai are instrumental in propelling the city’s economic growth. Their substantial investments in setting up offices, infrastructure, and operations inject significant capital into the local economy. By establishing a presence in Dubai, MNCs create a multitude of job opportunities, contributing to the city's growing population and diverse workforce. Furthermore, these companies facilitate international trade, positioning Dubai as a global business hub and increasing economic activity. The introduction of advanced technologies and innovative business practices by MNCs fosters a dynamic and diversified economy. The city's reputation as a premier business destination is significantly enhanced by the presence of these global giants, attracting further investments and solidifying its position on the world stage. Who could have imagined Google in Dubai?!

2. Why is Dubai a favorable location for multinational companies?

Dubai has cultivated an environment that is highly attractive to multinational corporations. The government's implementation of business-friendly policies, including streamlined regulations and tax inducements, creates a conducive climate for companies to thrive. Dubai's strategic geographic location serves as a bridge between East and West, making it an ideal hub for global operations. The city's world-class infrastructure, encompassing transportation, communication, and logistics, provides a solid foundation for efficient business operations. 

A diverse talent pool possessing strong language and technical skills further enhances Dubai's appeal to MNCs. The political stability of the region offers a secure and predictable business landscape, instilling confidence in companies considering Dubai as a base of operations.

3. What services do these top MNCs provide in Dubai?

The services offered by multinational companies in Dubai span a wide range of industries. Financial services, encompassing banking, insurance, asset management, and investment, are prominent sectors. Technology companies provide software development, IT consulting, cybersecurity solutions, and digital services. Consulting firms offer business strategy, management consulting, and operational efficiency expertise.  

4. How do these MNCs impact the job market in Dubai?

Multinational companies in Dubai exert a significant influence on the city’s job market. By establishing operations in the city, they create a diverse range of employment opportunities across various industries and skill levels. MNCs often prioritize employee development and offer training programs to enhance the skills of the local workforce. The presence of these global companies attracts skilled professionals from around the world, contributing to Dubai's cosmopolitan character. The competition for talent among MNCs can lead to increased salaries and benefits packages, further improving the overall job market.

5. What are the challenges faced by MNCs operating in Dubai?

While Dubai offers a compelling business environment, multinational companies in Dubai encounter certain challenges:

1. The highly competitive market necessitates a strong business strategy to gain and maintain market share.
2. Understanding and complying with local regulations can be complex and time-consuming.
3. Attracting and retaining top talent, especially in specialized fields, is a persistent challenge.
4. Economic fluctuations on a global scale can impact business operations and profitability.
5. Navigating cultural differences and building effective relationships with local partners requires adaptability and cultural intelligence, especially from Chinese, European, and American partners.

6. How do multinational companies in Dubai support local businesses?

Multinational companies in Dubai play a vital role in supporting the growth of local businesses. By sourcing goods and services from local suppliers, they contribute to the development of the local supply chain. MNCs often share their expertise and best practices with local companies, fostering knowledge transfer and capacity building. Joint ventures between multinational and local companies can create new business opportunities and promote economic diversification. Additionally, many MNCs engage in corporate social responsibility initiatives that benefit local communities, contributing to the overall growth of the city.

7. What is the future outlook for MNCs in Dubai?

The future outlook for multinational companies in Dubai remains promising. The city's continued economic growth will create new opportunities for businesses across various industries. Embracing technological advancements will be crucial for MNCs to maintain competitiveness and adapt to evolving market dynamics. A growing emphasis on sustainability will shape business strategies and operations, requiring companies to adopt environmentally friendly practices. Dubai's commitment to creating a business-friendly environment and its strategic location will continue to attract multinational companies and solidify its position as a global business hub.