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27 February 2024

Start ‘looking East’ as ‘great’ China will boom: Emaar Chairman Alabbar

By Wam

The best is yet to come for "great" China, as "bigger" achievements will be made, therefore, businesses should start looking East, said real estate tycoon and Chairman of Emaar Properties, Mohamed Alabbar.

Alabbar told the Emirates News Agency, WAM, yesterday about his company’s US$11 billion mega-project with Beijing Daxing International Airport, which is planned to complete in ten years. The project will include residential and leisure facilities.

His company has also announced that it will open an office in Beijing, in an attempt to expand its business activities in China.

"If you read China’s recent history, you will figure that it’s not only about the size of the country. The strong growth and development in China in terms of quality and economic growth have influenced the whole world," Alabbar said.

"Now there is a belief that what is coming [next from China] is bigger, whether that means economic or technological development," he added.

He also praised the Chinese people, saying that their "commitment and dedication at work are different than other people."

"That’s why we are learning [from them] and sharing [our experiences with them]," he added.

Alabbar also urged for "looking East" for business opportunities, instead of what he said was the norm, the "North and West."

"You can see the greatness of this country [China], and I’m not talking about population here, but the recent changes in all fields," Emaar Chairman said.

"We are Asians, therefore, there’s more closeness between us and them, along with the historic closeness between the UAE and China," he added.