Emaar Properties’ founder Mohamed Alabbar has revealed that the Dubai Creek tower is “currently in the process of being redesigned and construction will start in 2024
Alabbar, who is the founder of Emaar Properties and the e-commerce platform Noon, also appreciated the UAE for its developed competitive economy and stable investment environment. He attributed this to the forward-thinking vision of the country’s leadership.
“The wise leadership in the country has placed a top priority on the continuous improvement of the business environment, in a way that aims to attract investors of all sizes and activities,” Alabbar said, adding that this approach has resulted in robust growth for companies like Emaar Properties and Noon.
Emaar Properties, one of the UAE’s leading real estate developers, “intends to deliver 45 towers including 15,000 apartments in 2023,” Alabbar said.
Alabbar expressed optimism about the company’s future growth, citing its strong financial performance in the first half of the year, with revenues reaching AED12.3 billion and net profits growing by 15 percent to AED4.9 billion.
Alabbar also revealed plans for long-term expansion, saying the Board of Directors of Emaar Properties is setting long-term expansion plans that extend between 15 to 20 years, including new projects scheduled to be launched.
