EMAAR chairman keen to invest in JK: Drabu
Chairman of EMAAR, the leading real estate company of United Arab Emiratus (UAE) Mohamed Ali Rashed Alabbar will be visiting Srinagar next month to explore possibilities of investing in Kashmir.This was conveyed by him to Finance Minister Haseeb Drabu who met him in Dubai. The second-most powerful man in Dubai, Alabbar had detailed meeting with Dr Drabu on the sidelines of Arab-India Economic Forum held there from November 16 to 17.
It is learnt that both of them exchanged views on the possibilities of investments in Kashmir and to explore it further Alabbar consented to visit Srinagar next month. “He is keen to see how investments can be explored in hospitality sector” the sources said.
Dr Drabu assured him all help from the government in exploring such possibilities to bring the state on the International tourist map. “This will help to realize the dream of Chief Minister Mufti Mohammad Sayeed to make the state as number one destination in the world” Dr Drabu told over phone from Dubai.
“I had a very useful meeting with him and he has evinced interest in visiting Jammu and Kashmir on an exploratory visit. We will discuss investment opportunities and show case some projects to him once he comes there,” added Dr Drabu.
A global entrepreneur with active interests in high-value property development, retail, luxury hospitality, mining and commodities, Mohamed Alabbar is the founder and chairman of Emaar Properties PJSC.
Ranked second in the list of the ‘World’s 100 Most Powerful Arabs – Leaders’ 2014 by Arabian Business, the leading regional business magazine, Alabbar is well-known for his pioneering role in positioning Dubai as a world-class city.
He spearheads the growth strategy of Emaar, which has a presence in over 18 countries, with a focus on developing prime real estate, shopping mall and hospitality and leisure assets. Alabbar heads Emaar’s joint venture with Giorgio Armani to set up the Armani-branded luxury hotel and resort chain in key international destinations.
He is also the Founder and Chairman of Africa Middle East Resources (AMER), which unlocks the value of natural resource opportunities in Africa and links them with large consumer markets in Asia. He is a board member of Eagle Hills, an Abu Dhabi-based investment and real estate development company that funds and develops large-scale projects in high-growth international markets.
A graduate in Finance and Business Administration from the Seattle University in the US, Alabbar also holds an Honorary Doctorate from the University, and serves on its Board of Trustees. A keen sportsman, Alabbar is an active member of the UAE’s endurance horse racing community.
