LIFETIME OF ACHIEVEMENT
In 2016 , he co-founded ecommerce platform Noon in the UAE and Saudi Arabia ( with the Kingdom ’ s Public Investment Fund taking a 50 % stake ), which has since become the region ’ s leading ecommerce platform and digital ecosystem .
That same year , Alabbar led the consortium that bought fast-food company Americana Group through his private vehicle Adeptio AD Investments SPC . With 1,200 outlets in 13 countries in the Middle East and Africa – including KFC , Pizza Hut , and Costa Coffee – Americana ’ s IPO in 2022 is estimated to have netted Alabbar close to a billion dollars .
There is no chance of a serial entrepreneur Alabbar settling for an easy life of luxury , thanks to his incredibly diverse portfolio of business ventures and investments .
PUTTING CULTURE FIRST
Alabbar is known for his hands-on approach to business and his close relationship with his employees – and built Emaar on a foundation of trust , respect , and mutual support . In 2016 , as Chairman , Alabbar famously announced that Emaar Properties would be eliminating job titles for its employees – part of a large effort to create a more collaborative and agile work culture within the company .
There ’ s Alabbar Enterprises , for instance – an investment vehicle operating in the Middle East , Africa and Southeast Asia with a focus on fashion and retail , and through which he founded Namshi , the GCC ’ s leading ecommerce fashion and lifestyle platform and also took a stake in global online fashion retailer Yoox Net-a-Porter Group .
He also founded Singapore-based fashion firm RSH , and Africa Middle East Resources ( AMER ). Somehow , he also finds time to act as chairman of Malaysian leisure and hospitality operator Tradewinds , and is on the board of Noor Investment Group .
A champion of new technology , Alabbar is an investor with Middle East Venture Partners ( MEVP ), founded the leading content and influencer management agency in the region ( Diwan ) – and in 2021 , launched Zand , the world ’ s first fully digital bank to offer both retail and corporate banking services .
“ We owe it to 400 million Arabs that they go to the digital economy . I think it ’ s our duty , otherwise the Middle East will get left behind ,” he said .
There is just no stopping Alabbar . His personal drive and ambition is probably best summed up by his reaction to completing and delivering his greatest achievement – Burj Khalifa .
“ The Burj was over . I was thinking where to go , what to do next . Are you going to crawl and go back in a little hole ? I can tell you this , that ’ s not me .”
The Mohamed Alabbar story is far from over .
26 January 2024