ArabianBusiness.com - Middle East Business News
Friday, 29 March 2024 01:36 UAE time
Middle East Architect Power 20
View list by: Rank | Name | Country
1#  Mohammed Alabbar  - picture not available
1# Mohammed Alabbar

Designation : Chairman
« Back to List
 
Mohammed Alabbar is one of the region’s most well-known business personalities. As the chairman of the Middle East and Africa’s biggest developer by assets, Alabbar has played a key role in the development of Dubai’s real estate sector as well as abroad.

The real estate powerhouse was hit hard by the nearly 50 percent declines in Dubai property prices. But January marked the opening of its long awaited flagship building, the Burj Khalifa, which at 828 metres high, is the world’s tallest man-made structure ever built. The following month Emaar reported its full year profits increased 98 percent year-on-year while revenue increased 94 percent.

The Arab world’s largest developer — 32 percent owned by the government of Dubai — recently announced plans to focus on mid-income housing in emerging markets and overseas expansion to boost 2010 revenue after returning to profit in the fourth quarter. Last month, the firm announced it was finalising the cost of developing a project in Turkey and said it was waiting for a response from the Bali Tourism Development Corporation and Indonesia’s government to proceed with a $600m project in Indonesia.

Recently interviewed on the subject of power, Alabbar said: “Is it really power or is it achievement? Of course I like to be recognised as a person who has achieved much and contributed to the development of his country. The sense of achievement is the most important thing. Everything else will follow. As you achieve things, people get to know you, the media come after you and you become a public figure. But where is the value in that? Isn’t it about what you’ve actually done?”
 

 

Meet The Boss