Mohamed Alabbar Warns of a Major Shift Ahead: “AI Will Replace Much of What Expats in the UAE Do”
Mohamed Alabbar, founder of Emaar Properties and noon, took the stage at the 1 Billion Followers Summit in Dubai with a blunt message on power, scale, and disruption in a rapidly changing economy.
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“Social influencers need to understand that their brand—their name—is everything,” Mohamed Alabbar, founder of real estate development company Emaar Properties and e-commerce and digital marketplace noon, said at the 1 Billion Followers Summit in Dubai.
“If you’re a social influencer and you’re not building your brand for the long term, you’re not really in business. We think about our businesses long-term, so whoever happens to be in power at any given time doesn’t affect us too much. At the same time, we want the best for the U.S., China, and others, because that’s what’s good for the global economy.”
During a fireside chat titled “The Art of Thinking Big Enough,” moderated by Hadley Gamble, Chief International Anchor at IMI, Alabbar noted that Emaar was not equally successful across all its global projects, crediting the UAE for the company’s achievements.
“We are mesmerized by how easy it is to succeed in the UAE. We are so spoiled—this country makes you succeed easily. In other countries, you can’t breathe, regardless of all your money,” Alabbar said.
“The story of Emaar is that I was able to solve a problem better than others, but it is the UAE that made it successful. It was about hard work, protecting your brand, and bringing in the best people,” he added.
When asked about the most difficult aspects of running his business over several decades, he jokingly pointed to taking Emaar Properties public on the Dubai Financial Market (DFM) in 2000.
“Emaar going public was a stupid idea. I need to announce my results every 90 days, so every 90 days I need to strip naked in public. So, don’t go public. But the good thing about taking any company public is that it differentiates the men from the boys.
“Shareholders don’t want to listen to your problems, but your results, so discipline and resilience in your business are key.”
In closing, he addressed questions on the impact of AI and the distribution of wealth.
“AI is the greatest news for a country like the UAE,” Alabbar said. “We depend on amazing people coming from abroad, and much of that will change because AI will do a lot of that work for us. But I believe that smart people—if they know how to use AI—will still do well.”
Related: The 100: Mohamed Alabbar, Founder, Emaar Properties
“Social influencers need to understand that their brand—their name—is everything,” Mohamed Alabbar, founder of real estate development company Emaar Properties and e-commerce and digital marketplace noon, said at the 1 Billion Followers Summit in Dubai.
“If you’re a social influencer and you’re not building your brand for the long term, you’re not really in business. We think about our businesses long-term, so whoever happens to be in power at any given time doesn’t affect us too much. At the same time, we want the best for the U.S., China, and others, because that’s what’s good for the global economy.”
During a fireside chat titled “The Art of Thinking Big Enough,” moderated by Hadley Gamble, Chief International Anchor at IMI, Alabbar noted that Emaar was not equally successful across all its global projects, crediting the UAE for the company’s achievements.
