Source: Unsplash
Dubai-based entrepreneur Mohamed Alabbar, founder of Emaar Properties and chairman of Eagle Hills International, is never far away from his next big investment. Earlier this year, his latest venture began to take shape with the expansion of his global luxury portfolio. Known for pioneering some of the Middle East’s most iconic developments, Alabbar has acquired the 12th-century Castello di Antognolla in Umbria, Italy, for approximately $55 million.
He plans to transform the historic estate into a $200 million luxury destination under the Six Senses brand. The redevelopment will include a 71-room hotel, a championship golf course, private villas and apartments, and a wellness center, targeting ultra-high-net-worth travelers. The site will also host various events such as fashion and culinary shows. The venture highlights both the entrepreneur’s ambition to expand his global footprint and the broader trend of Gulf investors acquiring iconic European properties.
Who is Mohamed Alabbar?
Alabbar was born in 1956 in Dubai. The eldest of twelve children, he grew up in Dubai’s Rashidiya neighborhood, the son of a traditional dhow captain. His modest upbringing instilled a strong work ethic and an ambitious drive that would later define his career. After earning a government scholarship, he studied Business Administration at Seattle University, graduating in 1981.
This education laid the foundation for a career that would straddle both government and private enterprise, beginning at the UAE Central Bank and later as the founding director general of Dubai’s Department of Economic Development. It was during this period that Alabbar developed a close working relationship with Sheikh Mohammed bin Rashid Al Maktoum, positioning himself at the heart of Dubai’s transformation into a global city.
In 1997, Alabbar founded Emaar Properties, a company that would become synonymous with Dubai’s modern skyline. Under his leadership, Emaar delivered landmark projects such as Downtown Dubai, The Dubai Mall, and the Dubai Fountain, culminating in the Burj Khalifa, which at 828 meters remains the world’s tallest building.
Currently, the entrepreneur is involved in the Dubai Creek Tower project, which is undergoing a major redesign under Alabbar’s guidance. Originally envisioned to surpass the Burj Khalifa in height, the tower’s concept is being reimagined with a fresh architectural vision within the sprawling Dubai Creek Harbor development, which will host 200,000 residents across 45 towers.
Beyond real estate, Alabbar has diversified into e-commerce with Noon.com, luxury retail with YOOX Net-a-Porter, and hospitality through Eagle Hills and Africa Middle East Resources. His ventures now extend across the Middle East, Africa, and Asia.
Emaar Properties
Emaar Properties, now one of the UAE’s largest real estate developers, is publicly listed and backed by both the Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum and the UAE’s sovereign wealth fund. The company’s portfolio spans residential, commercial, and hospitality developments, expanding from its groundbreaking work in Dubai to develop projects on multiple continents. Through subsidiaries, this includes the Jeddah Gate in Saudi Arabia, the Marassi resort in Egypt, and Beverly West in Los Angeles, a condominium that became the residence of stars like The Weeknd. The latter was made possible after Alabbar acquired the North American firm, John Laing Homes, in 2008.
Alabbar’s success in real estate led him to pursue other passions, notably consumer tech innovation. Through a subsidiary – Emaar Entertainment – he has overseen some high-profile ventures such as Dubai VR Park, a multi-level virtual and augmented reality attraction located within The Dubai Mall. The park combines immersive gaming, rides, and interactive experiences, with blockbuster intellectual property such as The Walking Dead and John Wick Chronicles, creating a first-of-its-kind destination in the Middle East.
Undoubtedly, Dubai VR Park reflects Alabbar’s commitment to innovation. By combining traditional ride mechanics with advanced virtual and augmented reality, the park has drawn attention for its various experiences such as roller coasters, survival simulations, and fantastical adventures in fully immersive environments. Guests wear headsets or goggles that transport them to alternate realities, from underwater worlds and outer space to zombie apocalypses, while still enjoying the physical thrill of the ride. With 18 attractions that can be rotated, the park refreshes its experiences to remain on-trend and relevant, catering to both tech-savvy and traditional theme park audiences.
Emaar Entertainment also operates other major attractions, including Dubai Aquarium & Underwater Zoo, KidZania, Dubai Ice Rink, and Reel Cinemas, further establishing the UAE as a hub for next-generation entertainment experiences. Indeed, Dubai VR Park is one example of how the UAE is beginning to lead the evolution of modern gaming, a trend that’s popularizing immersive experiences like virtual reality and helping to grow sectors such as iGaming.
The extent of interest in iGaming across the UAE, as well as elsewhere in the region, including Saudi Arabia and Qatar, is reflected in an increase in online bookmakers targeted at players in the region. They offer mobile-first access to live dealer classics and interactive themed alternatives such as fishing games
This diversification into technology-driven leisure underscores Alabbar’s broader entrepreneurial vision. Moreover, Emaar Entertainment reflects his passion for integrating technology with lifestyle experiences, reinforcing Dubai’s position at the forefront of the digital gaming revolution while enhancing the city’s tourism and retail appeal.
Future Ambitions
Looking to the future, Alabbar is steering his entrepreneurial vision toward international luxury, sustainable development, and tech-enabled experiences. His recent acquisition of the 12th-century Castello di Antognolla illustrates a strategic pivot into heritage and high-end hospitality, for instance. Beyond hospitality, Alabbar is actively exploring opportunities in digital finance, e-commerce, and lifestyle technology, building on his successes with e-commerce platform Noon.com, the UAE’s first digital bank Zand, and other tech ventures.
Sustainability and cultural impact remain central to his ambitions, too. Alabbar has signaled that future projects will increasingly integrate energy efficiency, eco-conscious design, and community engagement, reflecting a vision that balances commercial growth with social responsibility.
Influential Entrepreneur
From transforming Dubai’s skyline to pioneering virtual reality entertainment and expanding into luxury hospitality in Italy, Alabbar’s career exemplifies visionary entrepreneurship. His work combines innovation, culture, and sustainability, reflecting a relentless drive to shape experiences that resonate globally while preserving heritage and pushing the boundaries of modern business.
