Sharjah: Mohamed Alabbar, founder and managing director of Emaar Properties, confirmed that non-payment rates from customers to Emaar increased during the recent regional conflict, before returning to normal levels after its end, noting that hotel occupancy rates are currently witnessing remarkable growth.
Alabbar said during the ‘Leadership in the Age of Change’ session at the Sharjah Investment Forum (SIF) that he had made a lot of money over the years, but that did not preclude him from experiencing losses at some point, stressing the importance of being prepared for and dealing with changes.
Regarding the real estate sector, Alabbar considered that granting discounts to new buyers and not previous buyers is an unfair practice, noting that the UAE continues its pursuit of growth and development on an ongoing basis.
In discussing global transformations, Alabbar stressed the importance of keeping pace with the rapid developments in the field of artificial intelligence, learning from this technology and exploring ways to benefit from it, noting that the skill lies in the ability to formulate commands directed to artificial intelligence tools correctly.
He revealed that he had previously used artificial intelligence to inquire about whether he should pursue a career change, and the advice he received was to continue and not change.
Regarding leadership and business management, Alabbar stressed the importance of appreciating the efforts of employees and partners, noting that people in the Middle East region are not adequately appreciated.