Mohammed Alabbar, the Emaar and Noon founder, has unveiled plans to build the Dubai Creek Tower, a “female” version of the Burj Khalifa.
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Customers will be able to drive electric vehicles through Dubai’s future mall, according to the Khaleej Times.
He said during a speech at the Sharjah Entrepreneurship Festival (SEF) 2024 that the mall would be located in Dubai Creek Harbour. “We are trying something exciting,” he told me.
“This will be the first time cars may enter a mall, so it will be quite interesting. We didn’t come up with this ourselves; we learned it from elsewhere.”
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During a seminar titled “Towering Success: What It Takes to Build a Business Empire,” Alabbar shared his ideas and failures.
He revealed why the corporation opted to abandon plans to construct a kilometre-long tower at the site. “We realised we made a mistake,” he stated. “We build these skyscrapers to gain money from the apartments that overlook the tower. We do not make any money from the tower. In Paris, for example, everyone wants an apartment with a view of the Eiffel Tower. Our buildings are only 50 stories tall, so why should we create a one-kilometre tower?”
He also stated that the Creek skyscraper was considered the “female” Burj Khalifa and that the tower’s initial appearance would be revealed in the following months. The Dubai Creek Harbour project, with a six-million-square metre size, is envisioned as the “new downtown.”.
The 66-year-old also discussed how his life has altered since Emaar became a publicly traded corporation. “If you have a listed company, you have to tell people every 90 days what you have done; it is a big challenge,” he told me.
“You cannot hide. These days, whenever I go to a city and the news spreads about it, I get a letter from the stock market asking what I’m doing there, what investment I’ll make, and what the feasibility is.”
However, he stated that he appreciated the challenge since it taught him discipline. “There are a lot of processes and safety because you are dealing with public money,” he told reporters.
“It teaches you amazing discipline. “I believe it makes you a better person because everything must be planned.”