Two Women Named Among the Middle East’s Most Influential Real Estate Leaders in 2026
From luxury homes to retail and hospitality projects, two women have earned places on Forbes Middle East’s list of the Most Impactful Real Estate Leaders 2026. Their inclusion highlights the growing role of women in shaping the real estate sectors of Saudi Arabia and the UAE.
The Forbes Middle East ranking measures leaders based on several factors, including company assets, revenues, land ownership, project portfolios, regional growth, partnerships, innovation, sustainability efforts, and professional experience. The UAE dominated the list with 47 leaders, while Saudi Arabia followed with 21 leaders.
The recognition also reflects the increasing presence of women in senior leadership positions across the Gulf region. According to the GCC Board Gender Index Report 2026 by Heriot-Watt University and Aurora50, women now hold 7% of board seats across Gulf Cooperation Council (GCC) countries, slightly up from 6.9% in 2025.
Among the women recognized this year are Alison Rehill-Erguven of Saudi Arabia’s Cenomi Centers and Nadia Zaal of the UAE-based developer Zaya. Both executives have played major roles in expanding their companies and strengthening the region’s real estate market.
Alison Rehill-Erguven – CEO of Cenomi Centers
Alison Rehill-Erguven ranked 44th on the Forbes Middle East list. She has been the CEO of Cenomi Centers since 2022 and currently leads one of Saudi Arabia’s largest retail real estate businesses.
Founded in 2002 and headquartered in Saudi Arabia, Cenomi Centers owns and manages major shopping and retail destinations across the kingdom. Under Rehill-Erguven’s leadership, the company has continued to grow during a period of rapid development in Saudi Arabia’s retail and entertainment sectors.
Rehill-Erguven brings more than 20 years of experience in the real estate and shopping mall industry. Throughout her career, she has worked across Asia, Europe, and Latin America, managing international teams, investment partnerships, and large-scale real estate assets.
As of 2025, Cenomi Centers operated 20 real estate properties across nine cities in Saudi Arabia. The company’s properties include more than 4,200 stores and around 1.3 million square meters of gross leasable area.
Its portfolio includes well-known developments such as Mall of Arabia and Al Nakheel Mall, along with another Al Nakheel Mall location in Dammam.
The company reported strong financial performance in 2025, generating around $610 million in revenue and holding total assets valued at approximately $9.8 billion. Its market value reached $2.2 billion as of May 11, 2026.
Before joining Cenomi Centers, Rehill-Erguven served as CEO of Pradera Retail Asia, a joint venture created with Macquarie Bank’s MIRA division in Shanghai, China. She later managed the integration of the business into Brookfield and also worked as managing director of Pradera Retail in Türkiye and Europe.
In addition to her executive roles, she has served on several industry boards, including advisory boards connected to the International Council of Shopping Centers (ICSC) in Asia Pacific and Europe.
Her influence extends beyond the real estate sector. She was also ranked 27th on Forbes Middle East’s 100 Most Powerful Businesswomen 2025 list, further strengthening her reputation as one of the region’s top female business leaders.
Nadia Zaal – Cofounder and CEO of Zaya
Nadia Zaal ranked 52nd on the Forbes Middle East list. She is the cofounder and CEO of Zaya, a boutique developer established in 2008 in the United Arab Emirates.
Zaya focuses on luxury residential and hospitality developments and has become known for creating premium lifestyle destinations in the UAE. Since its launch, the company has delivered projects worth more than $6 billion.
Its portfolio includes high-profile developments such as ZUHHA Island, Nurai Island, and Al Barari. These projects have helped position Zaya as an important player in the region’s luxury real estate market.
Apart from leading Zaya, Zaal also serves on the board of FIVE Holdings. She previously worked as CEO of Al Barari Group, where she helped oversee one of Dubai’s well-known luxury residential communities.
Like Rehill-Erguven, Zaal was also recognized in Forbes Middle East’s 100 Most Powerful Businesswomen 2025 ranking, where she secured the 53rd position.
The UAE’s luxury property market continues to expand, creating strong opportunities for developers like Zaya. According to Mordor Intelligence, the UAE luxury residential real estate market is expected to grow from $45.1 billion in 2025 to $49.3 billion in 2026. The market could reach $77.1 billion by 2031 as demand for premium homes and lifestyle developments continues to rise.
Women Gaining Stronger Influence in Gulf Real Estate
The inclusion of Alison Rehill-Erguven and Nadia Zaal on Forbes Middle East’s 2026 ranking shows how women are taking on more leadership roles in the Gulf’s business and property sectors.
Real estate remains one of the region’s most important industries, supported by major government investments, tourism growth, and rising demand for luxury housing and retail destinations. As Saudi Arabia and the UAE continue to invest heavily in urban development and economic diversification, female executives are becoming increasingly visible in shaping the future of the industry.
Although women still represent a relatively small percentage of board positions across the GCC, the gradual increase in representation suggests steady progress. Leaders like Rehill-Erguven and Zaal are helping set new standards for women in business while contributing to some of the Middle East’s largest and most influential real estate projects.
Their achievements also highlight the changing face of leadership in the Gulf region, where expertise, innovation, and global experience are becoming more important in driving the next stage of real estate growth.
Also Read:
Top 10 Richest Businessmen in Abu Dhabi 2026
FIFA and Saudi PIF Partner for World Cup 2026
Egypt’s $1.5B ITFC Deal Boosts Food and Energy
