100 smartest people in the UAE
Tue 26 Sep 2017 12:04 AM
Mohamed Alabbar

Company: Emaar/Noon

Designation: Chairman

Country: UAE

Country of residence: United Arab Emirates

Moahmed Alabbar is the founder and chairman of Emaar Properties, the leading developer of iconic assets such as Burj Khalifa.

He is also the chairman of Eagle Hills, the Abu Dhabi-based private investment and real estate development company, and the chairman of Americana Group, a pioneer in food industries. He is a member of the Dubai World Expo 2020 Higher Committee of the Government of Dubai.

If that is not enough, last year he announced plans to take the e-commerce world by storm with the launch of Noon, a new $1bn startup that is 50 percent funded by Saudi Arabia’s Public Investment Fund. Alabbar says e-commerce in the Middle East is worth $3bn — accounting for just 2 percent of total sales, a number expected to hit $70bn by 2025. When it goes live later this year, Noon is expected to offer 20 million products on its first day — giving Amazon, which recently took over Souq.com, a serious run for its money.

Alabbar graduated in finance and business administration from the Seattle University in the US, where he holds an Honorary Doctorate.

He is an active member of the UAE’s endurance horse racing community and was the chairman of the UAE Golf Association.