CEO of the Week: Emaar Propertie’ Mohamed Alabbar

In Dubai, United Arab Emirates, Emaar Properties (Emaar) is a developer of real estate. In addition to investing, the company manages and develops real estate. Buildings for homes and businesses, shopping malls, and hospitality projects are its main priorities. Banking, property management, real estate investing, and development services are just a few of the many services it offers. It develops and sells shopping centers, hotels, offices, resorts, rental properties, land, condos, villas, and homes.

The Burj Khalifa, the world’s tallest building, and the Dubai Mall were both developed by the company. Along with utilities, the company provides financial services for investments. The business operates in the United States, Saudi Arabia, India, Pakistan, Turkey, Lebanon, Jordan, Italy, Syria, Morocco, and Egypt in addition to the United Arab Emirates. Listed on the Dubai Financial Market, Emaar Properties is a publicly traded joint stock company. In June 2021, its market value was $15.5 billion USD. Emaar’s six business sectors and 60 active firms allow it to have a combined presence in 36 markets worldwide.

The brain behind this successful venture is Mohamed Alabbar, an Emirati businessman and the founder of Emaar Properties.

Who is Mohamed Alabbar?

1. Mohamed Alabbar was born on November 8, 1956 in Dubai, UAE and is the eldest of 12 children in his family
2. He completed his graduation degree from Seattle University in Business Administration in 1981
3. Soon after college, Alabbar started off his career with the Central Bank of the United Arab Emirates as a banking manager and then worked for the UAE government as the founding director general of the Department of Economic Development (DED)
4. Later in his career, he established a close relationship with Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, and became his chief economic adviser
5. Alabbar worked with Sheikh Mohammed bin Rashid Al Maktoum to advance the expansion and improvement of Dubai’s tourism business and its international standing
6. In 1997, Mohamed Alabbar founded Emaar Properties, holding 24.3% of shareholders of the company and rest owned by Dubai government
7. In 2016, Alabbar co-founded Noon.com, an e-commerce company with a value of USD 1 billion
8. Alabbar is also the chairman of the Eagle Hills, a UAE-based real estate development company and serves on the board of Emaar Malls
9. In 2010, FDi magazine awarded him the ‘Middle East Personality of the Year’ and he was ranked fifth in ‘The World’s Most Influential Arabs’