Mohammed Alabbar, the founder of Emaar and Noon, has revealed plans to build the Dubai Creek Tower, a “female” version of the Burj Khalifa.
According to the Khaleej Times, customers will be able to drive electric vehicles around the future mall in Dubai.
Speaking at the Sharjah Entrepreneurship Festival (SEF) 2024, he said the mall will be at Dubai Creek Harbour. “We’re trying something exciting,” he added.
“This will be the first time cars will enter the mall, so it will be quite interesting. We didn’t come up with this ourselves; we learned this from other places.”
During a seminar titled “Big Success: What It Takes to Build a Business Empire,” Alabbar shared his ideas and mistakes.
He revealed why the company decided to abandon its ambitions to build a kilometer-long tower on the site. “We realized we made a mistake,” he said. “We build these skyscrapers to make money from apartments that look at the tower. We don’t make 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 high, so why would we build one a kilometer high tower?”
He also stated that the Creek skyscraper is considered the “female” Burj Khalifa and that the first look of the tower will be revealed in the coming months. The six-million-square-foot Dubai Creek Harbor project is envisioned as the “new downtown.”
The 66-year-old also discussed how his life has changed since Emaar went public. “If you have a publicly traded company, you have to tell people every 90 days what you’ve done; that’s a big challenge,” he said.
“You can’t hide. Nowadays, whenever I go somewhere and word gets out, I get a letter from the stock exchange asking me what I’m doing there, what kind of investment I’m going to make and what the feasibility is.”
However, he stated that he appreciated the challenge as it taught him discipline. “There’s a lot of process and security because you’re dealing with public money,” he added.
“It gives you incredible discipline. I believe it makes you a better person because everything has to be planned.”