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.
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About Emaar Properties PJSC:
Emaar Properties PJSC is one of the world's largest real estate companies and is rapidly evolving to become a global provider of premier lifestyles. Powered by its Vision 2010 to become one of the most valuable companies in the world, Emaar, ranked on the FT 500 Global companies, is charting a new course of growth with a two-pronged strategy of geographical expansion and business segmentation.
Listed on the Dubai Financial Market, part of the Dow Jones Arabia Titans Index and certified to ISO9001:2000 for quality standards, Emaar is developing Burj Dubai, the world's tallest building and free-standing structure, and The Dubai Mall, one of the world's largest shopping and entertainment destinations. In Saudi Arabia, Emaar is developing the US$26.6 billion King Abdullah Economic City, the region's largest private sector-led project. Emaar's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Egypt, Turkey, Libya, Algeria, India, Pakistan, Indonesia, the US, the UK, France and Canada.
Emaar has strengthened its product sale competencies, market reach and best practices through strategic acquisitions and joint ventures. Emaar acquired John Laing Homes, America's second largest privately held home builder; Hamptons International, UK's premier realtor; and formed a joint venture with US-based Turner International to strengthen execution capabilities. Emaar has joined hands with Giorgio Armani, Accor Hotels and Premier Travel Inn to strengthen its presence in hospitality, and will launch ten luxury Armani Hotels & Resorts world-wide and 180 budget hotels in India.
Emaar holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking. Emaar is also the largest shareholder in Amlak Finance, UAE's leading Islamic home financing company. For more information, visit www.emaar.com.
For further information, please contact:
Kelly Home / Nivine William
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa
Tel: (+971 4) 335 5969;
Fax: (+971 4) 335 6080
E-mail: k.home@asdaa.com, n.william@asdaa.com
© Press Release 2007
