Industry: Real estate
Company: Emaar Properties
Mohamed Alabbar likes to break records. He is the force behind the building of the world’s tallest tower, the Burj Khalifa, the world’s biggest shopping mall, the Dubai Mall and the world’s largest choreographed fountain system. But the chairman of Emaar Properties likes to break even his own records, with the current Dubai Creek Harbour project set to house a tower taller than the Burj, and a mall nearly twice the gross leasable area of the Dubai Mall. Yet under his leadership, the firm has excelled in almost all areas ranging from property to entertainment and more.
Digital companies grow 30 percent a month, my businesses grows 20 percent a year. Digital customers are on 24/7, there is no time to close the shop
Its subsidiary Emaar Malls reported a Q3 profit of $146m in 2018, up 10 percent on the previous year as revenue and footfall rose, while it revealed new projects including the Expo Golf Villas near the Expo 2020 Dubai site this year, adding to its property portfolio including the prestigious communities of Emirates Hills, The Springs and Arabian Ranches.
And while Alabbar is also known for leading another subsidiary, Emaar Hospitality Group, which boasts five hotel brands including the celebrated Address Hotels and Resorts, it is e-commerce where he is currently invested. He launched retail giant Noon.com to sell everything from electronics to fashion and groceries.