Dubai's Emaar chairman hopes for a better year

Alabbar is "cautiously optimistic" about emirate's property market

Mohamed Alabbar, chairman of Dubai's largest listed real estate developer Emaar Properties, said on Monday he was hoping for a better year after a "tough" 2016.

Emaar, which built the world's biggest tower, the Burj Khalifa, has an $11.4 billion backlog of projects, he said at an investment conference in Dubai.

Alabbar also said he was "cautiously optimistic" about Dubai's property market in years ahead.

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