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Mohamed Alabbar

Founder, Emaar Properties

Search every verified Mohamed Alabbar interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Mohamed Alabbar, founder of Emaar Properties, recently discussed the state of his company's operations and the broader economic environment. He noted that retail sales had declined by 15%, describing this as manageable given prior years of strong growth, and stated that hospitality performance had improved from wartime levels, though not yet back to previous occupancy rates. Regarding property sales, he indicated the company was experiencing a slowdown of 15% but characterized the correction as positive, citing a large backlog and strong margins as reasons Emaar could withstand the downturn. Alabbar also commented on the expected economic impact of new development projects, expressing confidence that approximately 1,000 new businesses would emerge from developments of the scale Emaar typically undertakes, such as those in Belgrade or Egypt. He estimated these businesses would support around 14,000 permanent jobs and an additional 40,000 to 45,000 construction jobs, emphasizing the quality and pay of the positions provided.

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Verified interview transcripts

Notable quotes

“Retail sales, 15% down. Let's remember, we used to go 20%, 15% up every year for five years. That is OK. We can handle 15% down or so. Our hospitality has picked up again. We're not at 83% but we're at the 60's. Much better than during the war. Property sales -- we are easing from 15% down. Our backlog is so huge. Margins are so good. Correction is good. We can handle this.”

“We believe that the new businesses, maybe about 1000 new businesses will start. That is on average. That is what we do with most development of this size, if you look at Belgrade or Egypt. 1000 new businesses, we think they will probably be 14,000 permanent jobs. About 40,000, 45,000 jobs during construction. I'm quite excited about what the quality of the jobs we will provide and the pay, which is mostly, on most of”

“I really think that democracy have gone too far. I think social media have basically destroyed how government can operate.”

“I think AI will run the world, will run election, will select the best regulation. That's the only solution to the world. If we leave it to all these politicians, they only care about their chair. They don't care about anybody. So maybe AI will solve all of our problems.”

“Right now, California is kicking all the billionaires out of California. Do you think they know that they're kicking them out? Of course they know, but it will have more votes maybe on the street for the people to rule in California. So destroy your country, but get more votes to stay in power. And that is the problem I have with democracy these days. Somebody got to fix democracy.”

“I don't try to see my bankers. I try not to meet them. I try not to say hello to them. I try nothing. I only do one thing. I call them and say, 'How is my money with you? Is your bank safe that I keep my money with you?' Because normally bankers, what they do? They call you and they insult you like the immigration officers. Okay, I gave you a loan. How is your business? So, I did one thing. I minimized my borrowing t”

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