Four Emirati companies have made the 100 Global Challengers list compiled by the Boston Consulting Group, Gulf News reports.
According to the news agency, Emirates Group, etislat, Dubai World and Emaar have all made the list, making the UAE the most comprehensively represented country on the list.
One other company from Kuwait also made the list, bringing the total number of Gulf and Middle Eastern firms included to five.
A report from the group said that all the new entrants - 19 in total - will pose a real challenge to existing maxims and promote innovation and competition in their fields, which includes the UAE property market.
"There is no doubt that the new challengers in the list will influence the way the business is conducted in the world," the report continues.
Another recent report from the Building Consulting Group has shown that many companies are cutting back on their innovation budgets, a situation which may increase the chance of a changing of the guard in various different industries.