Arab family businesses in the Middle East have so far this year seen many of the fields they are most active in—including retail, real estate, energy, and industrials—welcome a V-shaped recovery. And these businesses are themselves continuously evolving. While they still invest in their traditional businesses they are also moving towards new age industries, investing in startups and, in some cases, founding their own new enterprises.

The way Arab family businesses are run and controlled used to be extremely concentrated, but that is changing. In many of the top 100, the third generation and beyond are joining the business. Many have begun focusing on succession planning and separating ownership and management. Some have even listed their flagship company or important subsidiaries—a trend that looks like it will continue to grow in future.

Of this year’s top 100 family companies, 89% are diversified business conglomerates. Saudi companies dominate the list, with 37 entries, followed by the U.A.E with 25, and Kuwait with eight.