Dubai, UAE, November 12, 2007: Mr Mohamed Ali Alabbar, Chairman, Emaar Properties; Director General, Dubai Department of Economic Development; and member of Dubai Executive Council, has been awarded the first-ever ‘Lifetime Achievement Award’ by leading Pan-Arab business magazine, Arabian Business.
Mr Alabbar received the award at the Arabian Business Media & Marketing Conference held today in Dubai.
The Lifetime Achievement Award recognizes the foresight and bold initiatives of Mr Alabbar, which form the driving force of Emaar Properties PJSC, today a global company with an active presence in 36 markets and first and only real estate company in the region to be ranked in the Financial Times Global 500 list of the world’s top-notch organizations.
Highlighting the significance of the award, Mr Andrew Neil, Chairman, ITP, the Middle East’s largest publisher of consumer and business magazines, including Arabian Business, said Mr Alabbar is a role model for the entrepreneur community across the Arab world. He sets an example of how far-sighted approach, innovative thinking and flawless execution can help achieve one’s goals and consistently better the success achieved.
Addressing the conference, Mr Alabbar said: “The Dubai that we see today is the result of ambitious dreams and a will to transform them to reality. The fuel for this growth is the support and direction provided by UAE Vice President & Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum.
“He understood that the time was right for Dubai — and this may be his most valuable example for those of us with large-scale ambitions. He gave us the daring to dream and dream big. Today, with such towering examples in human achievement as the Burj Dubai, we proclaim to the world that nothing is impossible when human minds come together with clearly focused objectives.”
On the path-breaking growth of Emaar globally, Mr Alabbar said: “There comes a time when you out-grow the local market and feel the need to scale up and take that leap from local to global. For Emaar, we were convinced that we could succeed in other markets: Partly because our client base in Dubai were continually asking for similar offerings in their home countries. Partly because we knew our emphasis on ‘community living’ and ‘luxury lifestyle’ was missing in most of the emerging economies in the region and Asia.
“Today, while we continue to focus on our core brand value of delivery, our global ambitions have led us to larger themes of empowering people to live their lives fully, inspiring new generations to challenge the status quo and giving people hope for a better future,” he added.
As the driving force of the Dubai Department of Economic Development, Mr Alabbar has been instrumental in rolling out several initiatives that positioned Dubai as a global destination for business, trading and tourism. He is also chairman of the Bahrain-based Al Salam Bank and serves on the board of directors of the Investment Corporation of Dubai (ICD), the investment arm of the Government of Dubai.
A graduate in Finance and Business Administration from Seattle University in the United States, Mr Alabbar works closely with regional NGOs, and is especially committed to the cause of educational reform. In June 2007, Mr Alabbar was awarded an honorary doctoral degree in humanities from his alma mater, Seattle University. He is Chairman of the UAE Golf Association, and was named among the top golfing personalities in the world by Golf World.
Mr Alabbar has won several global laurels for his entrepreneurial excellence. FDi magazine, published by the Financial Times Group, recently named Mr Alabbar “Middle East Personality of the Year.” Arabian Business ranked him second in its March 2007 list of the 100 Most Influential Arabs in the World.
