Gulf unicorns reach nine as combined value hits $45 billion
By Business & Property Desk1 min read
Dubai: The Gulf Cooperation Council now hosts nine privately held companies valued at $1 billion or more, according to the Hurun Global Unicorn Index 2026. Their combined valuation stands at $45 billion (Dh165.15 billion), up from seven unicorns a year earlier.
UAE and Saudi Arabia dominate the list
The UAE accounts for seven of the region’s unicorns, while Saudi Arabia has two. Unicorns — startups with valuations of at least $1 billion — have become a key measure of the UAE’s and the broader GCC’s growing technology and innovation ecosystems. Dubai and Abu Dhabi have emerged as regional hubs for high-growth businesses, attracting international investors and entrepreneurs in fintech, e-commerce, logistics, digital payments and artificial intelligence.
Saudi Arabia is also strengthening its startup ecosystem as part of its Vision 2030 economic diversification drive, supported by investments in technology, digital infrastructure and entrepreneurship. While the UAE has produced several billion-dollar technology companies, the wider GCC is increasingly competing for global venture capital and nurturing home-grown startups.
Key companies and valuations
Telegram, which is based in the UAE, remains the region’s most valuable unicorn at $30 billion — roughly two-thirds of the Gulf’s total unicorn value. Other notable UAE unicorns include cloud kitchen operator Kitopi, valued at $1.6 billion, and AI-focused company AI.Tech, valued at $1.5 billion. Saudi Arabia’s fintech firms Tabby, a buy-now-pay-later platform valued at $4.5 billion, and Tamara, valued at $1 billion, reflect the kingdom’s growing fintech ambitions.
The Hurun index also shows that the UAE has three unicorns in the media and entertainment sector, trailing only the United States (23), China (11) and the United Kingdom (4). The figures highlight the region’s expanding pipeline of billion-dollar businesses, although unicorn counts and valuations vary across research providers and depend on how companies are classified.
Billionaire numbers also grow
Earlier this year, Hurun reported that the number of billionaires in the GCC rose by nine to 48. The UAE leads with 28 billionaires, followed by Saudi Arabia with 17, Qatar with two and Kuwait with one.
