By: Amr Adel
Dubai – Decypha: Emaar Properties’ chairman Mohammad Alabbar expected 2017 to be better than the previous one.
During the annual One on One Conference in Dubai, he added that 2016 was a “tough” year for all.
The company has made some restructuring last year to be prepared for the coming years.
Emaar has a project backlog of AED 41.869 billion ($11.4 billion), Alabbar said.
The company is currently operating well in Dubai, Egypt, Saudi Arabia, and Turkey.
Emaar has generated strong sales in Pakistan, and is considering entering the Serbian market.
Dubai’s developer does not plan an initial public offering (IPO) of Emaar Hospitality Group for the time-being, the chairman said.
Alabbar still remains "cautiously optimistic" about Dubai's property market in the coming years.
Translated by: Julian Nabil
