Mohamed Alabbar, the founder of Emaar, has dismissed the notion of a slowdown in Dubai’s real estate market, asserting that smart investments will continue despite recent Iranian aggressions. In an interview with CNBC, he emphasized that the property sector in the UAE is not reliant on bank lending and that government policies are rapidly restoring confidence.
Commenting on the blatant Iranian attacks, Alabbar stated, “True investors understand that a nation with stable leadership and proven security can achieve significant success, and they will increase their efforts in this regard.”
He added, “The Iranian attacks will only make the UAE stronger,” noting that life is gradually returning to normal. He mentioned that visitor traffic at Dubai Mall has already improved to 190,000 daily visitors, compared to an average of 250,000 before the Iranian aggressions. He also reported, “The number of customers dining in our restaurants has reached about 80 to 85% within just four to five days of the onset of the attacks.”