CEO Predictions 2013: Mohamed Alabbar, Chairman, Emaar

This is an era of transformation.

New social and economic realities are challenging governments and businesses to realign their priorities and focus, like never before, to the needs of their stakeholders.

In this season of change, transforming businesses means connecting with all stakeholders by first understanding their goals and aspirations.

Since inception 14 years ago, Emaar Properties has focused on adding value to our stakeholders and creating self-sustaining business entities that contribute to the recurring revenue streams of the company.

In 2012, Emaar Properties expanded to new geographic markets and consolidated businesses in the hospitality and leisure, as well as shopping malls and retail segments.

Emaar created a new lifestyle and tourism destination with Downtown Dubai, our flagship project. Its various components – Burj Khalifa, The Dubai Mall and The Address Hotels + Resorts – made significant contributions to Dubai’s fundamental growth sectors of retail, tourism and hospitality.

This spirit of transformation is reflected more broadly in the Dubai economy, even as the global economy continues to experience volatility. Under the leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, the city continues to demonstrate its enduring appeal as a global hub for business, trade, travel, hospitality and retail.

With the ability to serve one-third of the world within a four-hour flight, Dubai has evolved as the city of hope for the 350 million people in the Arab world and beyond. Unmatched infrastructure, incredible connectivity and a cosmopolitan, business-friendly climate all contribute to the city’s success.

Our openness to the world, as both a trade hub and a centre for innovation and new ideas, is critical to the success of our increasingly diversified and globally integrated economy. This, in turn, will continue to power Dubai’s real estate sector.

Emaar’s growth outlook for 2013 will continue to be defined by our commitment to transformation.

Our strategy is to partner in the socioeconomic growth of emerging markets by developing integrated communities that catalyse local economies. The property sector in Dubai, drawing on the overall growth of the economy, recorded robust performance in 2012. This momentum of growth and the strong foundation for the future assure a significant year in 2013 for all key sectors in Dubai, including property.

Also read: CEO Predictions 2013: Sheikha Lubna, UAE Foreign Trade Minister