HE Mohamed Alabbar Despite mostly being known for his property empire via Emaar and Abu Dhabi venture Eagle Hills, it was Mohammed Alabbar’s moves in e-commerce that captured media attention in 2017. After missing out on the acquisition of Souq.com to Amazon, the Emirati billionaire made a series of deals in the space including the purchase of a… Despite mostly being known for his property empire via Emaar and Abu Dhabi venture Eagle Hills, it was Mohammed Alabbar’s moves in e-commerce that captured media attention in 2017. After missing out on the acquisition of Souq.com to Amazon, the Emirati billionaire made a series of deals in the space including the purchase of a large stake in regional venture capital fund Middle East Venture Partners (MEVP), the acquisition of online selling platform JadoPado via an investment consortium and Emaar Malls’ deal to buy 51 per cent of fashion site Namshi for $151m. These moves were followed by the September launch of his long-awaited $1bn e-commerce platform Noon.com in the UAE after it achieved new backing from investors including Kuwaiti retailer MH Alshaya. A Saudi launch followed in December and in the time in between Alabbar led Dubai’s first major IPO in three years with the listing of Emaar’s development unit for around $1.3bn. On top of this, Emaar opened a new mega mall in Turkey, laid the foundation for a new record-breaking tower to rival its Burj Khalifa at Dubai Creek and saw its Q3 profit increase 32 per cent. All showing property was still very much on Alabbar’s mind. Chairman, Emaar / Eagle Hills Origin:UAE Residence:UAE Sector:Real estate