Hakim Abdeljaouad (Kroll) on how global valuation trends are reshaping the GCC market

Hakim Abdeljaouad is Managing Director at Kroll and Head of its Valuation Advisory practice in the Middle East. He discusses how valuation trends from around the world – and an expansive Middle East landscape – are reshaping the Gulf market.

How are global valuation trends influencing the GCC market, particularly as the region accelerates diversification and foreign investment?

Global valuation trends are helping the GCC attract capital, benchmark performance internationally, and build long-term investor confidence. We’re seeing a clear shift toward transparency and the adoption of governance and valuation best practices. This movement is largely led by the region’s sovereign wealth funds, which already manage highly diversified portfolios across asset classes and geographies.

These major limited partners (LPs) are now setting higher expectations for the local funds they invest in, demanding the same level of diligence, governance, and, importantly, independence in the valuation function that aligns with global best practices. Family offices are also following this direction as they become more sophisticated and expand their international exposure.

Together, these forces are raising the bar for valuation standards in the region and positioning the GCC as an increasingly credible and attractive destination for global investors.

Family businesses remain a cornerstone of the Middle East economy. What unique valuation challenges do they face, and how can they prepare for succession or IPOs?

Family businesses across the region are increasingly transforming into modern corporates, strengthening governance, improving financial transparency, and separating ownership from management roles. The key challenge lies in balancing legacy, family dynamics, and emotional ties with financial performance and long-term sustainability, especially as the Middle East becomes more competitive and attracts global players.

Preparing for succession or an IPO requires early professionalization and the adoption of structured governance frameworks that build investor confidence. At Kroll, we support family offices and businesses with robust, independent valuations that not only establish a clear view of performance but also guide strategic decisions on growth, succession, or diversification.

Mega-projects and large-scale M&A deals are reshaping the region. What role does financial advisory play in ensuring transparency and investor confidence?

Independent financial advisory plays a critical role in ensuring transparency and investor confidence across the region’s mega-projects and M&A activity. As the scale and complexity of transactions grow, stakeholders – from regulators to investors – demand objective, defensible analysis. At Kroll, our independence allows us to deliver credible valuations, fairness opinions, and due diligence that meet international standards.

This impartial perspective is especially important in the GCC, where many landmark projects are government-backed or linked to national transformation agendas. By applying rigorous methodologies and combining global best practices with regional insight, we help clients make well-informed decisions and build trust among investors.

Ultimately, independent financial advisory is a key factor in attracting long-term global capital and sustaining the region’s momentum.

Further reading: Kroll experts share key lessons for private investment valuations.

With evolving international valuation standards, what should Middle East corporates and consultants know to stay compliant and competitive?

Compliance with international valuation standards such as IVS and IFRS is no longer optional – it’s a competitive necessity. The pace of regulatory change means companies and advisors must stay proactive, not reactive. We’re seeing growing alignment between local regulators and global frameworks, raising the bar for consistency, disclosure, and audit readiness.

For corporates, this means ensuring robust valuations and maintaining independence of the valuation function. For consultants, it demands continuous professional development and a strong understanding of both global standards and regional nuances.

At Kroll, we’re not just following standards, we help shape them. Our Managing Directors have served as lead contributors to the IPEV Guidelines, the Invest Europe Professional Standards Handbook, the AIMA Valuation Guide, and the AICPA Guide, all key references for best-practice valuation methodologies.

Cross-border transactions and disputes are becoming more complex. How does Kroll help clients navigate these challenges across multiple jurisdictions?

Cross-border valuations bring a unique set of challenges – from differing accounting practices and tax regimes to geopolitical risk and currency volatility. Kroll’s strength lies in its global network combined with local expertise. We have teams across major financial centres who collaborate seamlessly to deliver consistent, defensible opinions that meet the highest global standards.

In disputes or arbitration, our valuation experts serve as independent witnesses, providing objective, data-backed insights that withstand cross-examination. Whether it’s an acquisition spanning multiple regions or a shareholder dispute involving offshore structures, clients rely on Kroll for clarity, consistency, and confidence across jurisdictions.

Looking ahead, what emerging trends or regulatory shifts do you expect will have the biggest impact on valuations in the Middle East?

We expect three key forces to shape valuations in the coming years. First, digital transformation – particularly the wider adoption of AI tools – will play a major role in how businesses make decisions, monitor performance, and measure value creation.

Second, regional regulators are increasing scrutiny, driving greater disclosure, transparency, and governance in line with international best practices. This is especially relevant as private markets gradually open to retail investors.

Finally, while the Middle East has historically been a source of global capital, we now see growing investor inflows into the region, attracted by its stability and strong growth prospects. This shift will bring heightened expectations for robust governance, transparency, and independent valuation – all critical to sustaining investor confidence and aligning with global standards.