Mohamed Alabbar, Founder and Chairman of Emaar Properties, shared the success story of Emaar with over 80 students at the prestigious Harvard Business School in Boston.
Harvard Business School Senior Lecturer Sid Yog selected Emaar as the subject of a case study titled Emaar: The Center of Tomorrow, Today for his second-year elective MBA course Investing in Emerging Markets.
The case study on Emaar was conducted by Yog and Research Associates Esel Cekin and Marc Homsy, following an intensive review of the company’s operations and detailed interviews with the senior management.
The case evaluates how Emaar addressed the challenges of the global financial crisis and the tough measures that Alabbar put in place to steer the company to become “the only real estate developer in Dubai to have continuous positive returns during the global financial crisis.” It also recognises the transformational impact that Emaar has had on the physical landscape of Dubai.
During his visit to the Harvard Business School campus, Alabbar presented Emaar’s growth story. In less than two decades of operation, Emaar has become the leading player in the Middle East’s property development industry and has delivered highly-demanded residential communities, iconic shopping malls and hotel developments.
Alabbar said: “Our founding vision was to shape the future through our pioneering model of integrated master-planned communities. Today, we have defined the future of cities through our world-class developments that not only deliver a sense of belonging to residents but also catalyse local economies. We have always focused on long-term value creation for our stakeholders and we consistently deliver on our promise.”
Alabbar shared his strategic outlook for the company and highlighted its digital transformation. “This is the era of digital transformation for Emaar. Across all aspects of our operations we are leveraging the potential of digital technologies to enhance efficiency, productivity and customer service standards. Today’s era is defined by how agile, flexible and responsive we are not only to the demands of customers but also to a shifting market landscape.”
Alabbar also presented e25, a new start-up initiative that he has launched within Emaar. e25 is a team of 25 under 25 year olds that will bring a new engine of ideas and innovations to the company and shape its future leaders.