Mohamed Alabbar, the Chairman of Emaar Properties, is a pivotal figure in the development of Dubai’s architectural marvels. His leadership has been instrumental in the creation of the Burj Khalifa, the tallest building in the world, and the Dubai Mall, cementing his impact on Dubai’s global image as a premier tourist destination.
Early Life and Educational Background
Born on November 8, 1956, in Dubai, Alabbar’s journey in business began with a degree in Finance and Business Administration from Seattle University, where he was later honored with an Honorary Doctorate. Further recognition came with honorary doctorates from the London School of Economics and Sun Moon University in South Korea. His professional career began at the Central Bank of the UAE, laying the foundation for his future ventures.
Founding Emaar Properties
In 1997, Alabbar established Emaar Properties, a company that has since become synonymous with luxury and innovation in real estate. Holding a 24.3% stake in the company, Alabbar has driven Emaar to a valuation of approximately Rs 4,05,188 crore. Under his guidance, Emaar has expanded its portfolio to include not only landmark real estate projects but also ventures in luxury hotels, retail, mining, and commodities, operating in over 80 countries worldwide.
Expanding Horizons
Alabbar’s influence extends well beyond real estate. In 2016, he co-founded Noon.com, a major e-commerce platform valued at $1 billion, transforming online shopping in the Middle East. He also serves as Chairman of Eagle Hills, a leading investment and real estate development firm in Abu Dhabi, and is a board member at Emaar Malls. His diverse interests span various sectors, including real estate, retail, hospitality, technology, and venture capital.
Recognition and Wealth
Alabbar’s contributions have not gone unnoticed. In 2010, he was honoured as the ‘Middle East Personality of the Year’ by FDI magazine and ranked fifth among ‘The World’s Most Influential Arabs.’ As of January 2023, his net worth is estimated at Rs 10,905 crore, underscoring his significant impact on the business world and beyond.
