28 November 2016
The Emaar chairman, famous for building the world’s tallest tower and the world’s biggest mall, earlier this month launched a new $1 billion online shopping platform set to offer 20 million products when it launches in January next year. Read more about Noon.com here.
Today, at a media roundtable in Dubai to launch yet another new online venture – a joint partnership between Italy’s Yoox Net-a-Porter Group (YNAP) and his company Symphony Investments – he was asked if he would consider merging his growing online empire with the more traditional retail setup operated by Emaar.
“I would love to,” he answered, adding that any global company that does not digitalise will be extinct within five years. Read more about the YNAP deal here.
“Anyway, I have a digital officer who is turning the company upside down right now as we speak… Why would a real estate company get a digital officer? Because we in the management do believe that this is the way to go. We will keep building these buildings, not a problem… everything has to change.”
Emaar Malls, the retail division of Emaar Properties and operator of The Dubai Mall and the Dubai Marina Mall, was listed on the stock market in September 2014 and earlier this month it reported third quarter profits were up 16 percent. Read more here.
The company’s malls division in April reported that visitors across all its Emaar malls rose 9 percent year-on-year to hit 124 million in 2015.
As a result, Alabbar told reporters at the event at the Burj Khalifa that he still spend 80 percent of his time working on his real estate business, despite his growing presence and influence in the digital world.
For more on Mohamed Alabbar’s rise to the top click here.
© Express 2016
The Emaar chairman, famous for building the world’s tallest tower and the world’s biggest mall, earlier this month launched a new $1 billion online shopping platform set to offer 20 million products when it launches in January next year. Read more about Noon.com here.
Today, at a media roundtable in Dubai to launch yet another new online venture – a joint partnership between Italy’s Yoox Net-a-Porter Group (YNAP) and his company Symphony Investments – he was asked if he would consider merging his growing online empire with the more traditional retail setup operated by Emaar.
“I would love to,” he answered, adding that any global company that does not digitalise will be extinct within five years. Read more about the YNAP deal here.
“Anyway, I have a digital officer who is turning the company upside down right now as we speak… Why would a real estate company get a digital officer? Because we in the management do believe that this is the way to go. We will keep building these buildings, not a problem… everything has to change.”
Emaar Malls, the retail division of Emaar Properties and operator of The Dubai Mall and the Dubai Marina Mall, was listed on the stock market in September 2014 and earlier this month it reported third quarter profits were up 16 percent. Read more here.
The company’s malls division in April reported that visitors across all its Emaar malls rose 9 percent year-on-year to hit 124 million in 2015.
As a result, Alabbar told reporters at the event at the Burj Khalifa that he still spend 80 percent of his time working on his real estate business, despite his growing presence and influence in the digital world.
For more on Mohamed Alabbar’s rise to the top click here.
© Express 2016
