Company: Emaar Properties
The Mohamed Alabbar story gets more remarkable each year. Only four years ago, there was no shortage of people waiting to write off both him and the property giant Emaar that he leads. A lot of humble pie is now being eaten. In the past year the company’s market value has almost doubled to $15bn. Its flagship Dubai Mall saw a record 75 million visitors, with last year’s Q4 profits jumping 48 percent to $206m. But this looks like just the start, with Emaar currently rolling out one new project launch in Dubai each week. A global entrepreneur, Alabbar is the founder and chairman of Africa Middle East Resources (AMER), which unlocks the value of natural resource opportunities in Africa and links them with large consumer markets in Asia.
He is also a board member at Eagle Hills, an Abu Dhabi-based investment and real estate development company that funds and develops large-scale projects in high growth international markets. The chairman of Tradewinds, focused on world-class real estate developments in Malaysia and Southeast Asia, Alabbar also chairs RSH, the leading Singapore-based pan-Asian marketer, distributor and retailer of international fashion and lifestyle brands.
He sits on the board of Noor Investment Group, an affiliate of Dubai Group, the leading diversified financial company of Dubai Holding. And what of the future? Last year Alabbar told Arabian Business: “In the next ten years, I hope that I will have built at least three more Downtowns. Will I do the world’s tallest tower again? Of course I want to. I am looking. I have a wish. I will try.” Only a fool would bet against him succeeding.
Alabbar is the founder and chairman of Africa Middle East Resources (AMER).