Mohamed Alabbar is hands-down one of the best well known figures in the Middle East’s business community.
As the chairman of the MENA region’s biggest developer by assets, Alabbar has played a key role in the development of the real estate sector as an economic driver.
He has since demonstrated business acumen in steering his company to success despite the collapse in the real estate market back in 2009, when values declined by as much as 50 percent.
Best known for master-planning Dubai’s now iconic Downtown development, Emaar built its business in the 2000s on the back of Emirates Hills, The Springs and Arabian Ranches communities.
Current projects include Dubai Creek Harbour, which will include a tower taller than Burj Khalifa and a mall with nearly twice the gross leasable area of The Dubai Mall.
In March 2018, Emaar announced an alliance with Abu Dhabi-based Aldar Properties. In the initial phase, they will work on two mega-projects – the Saadiyat Grove in Abu Dhabi and the Emaar Beachfront, a multi-tower development. Just this month, Emaar has announced the opening of the first Emaar Café, located in the Fashion Avenue of the Dubai Mall.
Emaar was ranked the 14th among the world’s strongest real estate firms in 2019, according to a recent report by consultancy Brand Finance.