Company: Emaar Properties
Mohamed Alabbar is the founder and chairman of Emaar Properties, a listed Dubai-based developer with operations across the GCC and beyond. The Emaar chariman’s greatest achievement is, arguably, the development of Dubai’s Burj Khalifa, the world’s tallest tower. He also heads Emaar’s JV with Giorgio Armani, which boasts luxury hotels at key international locations.
Emaar Properties recorded a net profit of $279m (AED1.03bn) during the first three months of 2015, 7% higher than its 2014 first-quarter figures of $261m (AED957m). The property developer’s revenue for Q1 2015 was $820m (AED3.01bn), 25% higher than the $656m (AED2.40bn) it posted in Q4 2014.
Emaar Malls, a retail business majority-owned by Emaar Properties, also reported a Q1 2015 revenue rise, hitting $200m (AED735m), 21% more than the figure achieved during the corresponding period 2014.
Moreover, the firm has announced that its Egyptian subsidiary, Emaar Misr, will list on Egypt’s stock exchange this year.