Al-Abar anticipates $17B Syria investments
Mohammed Alabbar, founder of Emaar Properties, stated that the correction in Dubai's real estate prices varies depending on the developer and their financial situation. Some companies are offering significant discounts to boost liquidity, while others stick to their prices and plans. He clarified that Emaar does not offer discounts or change payment plans in order to protect customers' rights. Alabbar indicated that the projections of a 5% to 15% decline in Dubai real estate prices until 2027 depend on multiple factors and should be evaluated based on international comparisons. Meanwhile, the Saudi market remains competitively priced. Regarding international expansion, he announced plans to invest between $16 billion and $17 billion in Syria, explaining that the decision is based on an economic assessment of the abundant natural resources and potential growth opportunities. He emphasized that the investment aims at economic returns and development, not political motives. Additionally, he warned about the risks companies face if they neglect adopting artificial intelligence technologies, as it could heighten competitive challenges. He stressed the importance of preparing for different economic cycles and continuing to support residential communities to ensure business stability and protect customer rights.
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