Mohamed Alabbar: Rising to the Heights

• Discover the tycoon behind Emaar Properties and his contribution to the UAE’s real estate industry.
• Mohamed Alabbar is a real estate industry pioneer known for his innovation and success.
• Alabbar has had a significant impact on the UAE’s landscape and modern identity.
• His company specializes in developing integrated communities that include residential, commercial, and leisure houses.

His cake business failed, but instead of giving up, he decided to construct the world’s tallest tower and create a massive shopping mall. Meet Mohamed Alabbar, the founder of Emaar Properties, a listed company that is worth an estimated $14.3 billion! The company is currently the twenty-first largest publicly listed company in Asia, and it owns assets like Dubai Mall, Burj Khalifa, and luxurious hotels. Notably, Mohamed founded Noon, the largest Amazon competitor in the UAE. He is also the founder and chairman of Eagle Hills, an Abu Dhabi-based private investment and real estate development company.

The Birth of a Business Leader

He was born in Dubai on November 8, 1956, and is the eldest of 12 children. His father, a ship captain, encouraged him to strive for success. He returned to Dubai after attending The Albers School of Business and Economics (1981) at Seattle University in the United States, where he earned a degree in Finance and Business Administration and worked in the banking sector.

Learning From Setbacks 

Despite numerous failures, including a cake and shoe business and unsuccessful investments in the United States, Alabbar refused to give up. In 1997, he projected Dubai’s growth and began his first project: constructing a yacht marina, a waterfront community that has become a symbol of luxurious living. Despite the 2007-2010 financial crisis, in 2004, he began construction on the most iconic and groundbreaking project in the UAE, the 826-meter-tall Burj Khalifa. It was risky, but he persisted. The Burj Khalifa remains the world’s tallest building, a testament to Alabbar’s ambition and commitment to pushing boundaries. His other notable projects include the Dubai Mall, which is the world’s largest shopping mall. In 2022, he officially became a dollar billionaire with a net worth of over $1.3 billion.

Diverse Businesses

Today, his companies are valued at $300 billion, encompassing real estate, construction, healthcare, retail, and other sectors. Alabbar’s guiding principles were faith in Dubai and unwavering belief in his projects.

Economic Impact and Job Creation

The success of Emaar Properties under Mohamed Alabbar’s guidance has had a significant impact on the UAE’s economy. The company’s developments have attracted both local and international investors, contributing to the growth of the real estate sector and creating job opportunities for thousands of people. Emaar Properties has also played a crucial role in positioning Dubai as a global hub for business, tourism, and luxury living.

Commitment to Sustainability and Social Responsibility

Mohamed Alabbar and Emaar Properties are committed to sustainable development and environmental stewardship. The company incorporates green building practices in its projects, aiming to minimize the environmental impact and promote energy efficiency. Emaar Properties also actively engages in corporate social responsibility initiatives, supporting education, healthcare, and community development programs in the UAE.

Future Vision and Expansion

Looking ahead, Mohamed Alabbar continues to drive Emaar Properties towards new horizons. The company has expanded its operations beyond the UAE, with projects in countries such as Saudi Arabia, Egypt, Turkey, Pakistan, and India. Alabbar’s vision extends beyond real estate and construction as he explores opportunities in sectors such as e-commerce and technology, aiming to diversify and adapt to the changing global landscape.