Img Source: By LConstantino - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=35930007

Alabbar poised to create the Alibaba of the Middle East

Technology has become a must need for humanity and environment in today’s world. It has become a ubiquitous part of our lives because it makes things easier for the people and the society. Technology shapes the future and holds the ability to make it compatible with nature. Experts from many fields have realized that relating technology with organizations and culture can transform their present as well as the future of that country.

On the cusp of this digital revolution, marketers and investors around the world are turning use of technology into a marketing opportunity. This is the reason that a businessman in the development industry of the UAE, and the founder and chairman of one of the largest real estate development companies in the world Emaar Properties, Muhamad Alabbar has announced to focus on the e-commerce spectrum in the Arab world.

Mohamed Alabbar  (محمد بن علي العبار‎‎), is a businessman in the real estate and property development industry of the United Arab Emirates and former director general of the Dubai Department of Economic Development. Alabbar is the founder and chairman of Emaar Properties, one of the largest real estate development companies in the world and known for developing the Burj Khalifa, the world’s tallest building and the Dubai Mall,the world’s largest mall.

It is reported that the Emaar chairman has bought Aramex founder Fadi Ghandour’s stake in the firm and eyes on taking control of the Arab’s largest Courier.

Aramex has recently been working hard and concentrating on technology as it is looking to offer ecommerce solution from click to delivery. Their e-commerce business is growing by around 25% a year which makes it a fantastic long term investment

He has already raised $1 billion to spearhead the launch of the biggest digital and e-commerce solutions. There are approximately around 200 technology companies around the world valued at over $1 billion, only www.Souq.com is from the Middle East.

It is forecasted that ecommerce industry will go worth $20 billion by 2020 in the Arab world. Likely inspired by the Chinese e-commerce giant Alibaba, Alabbar has all the potential to take his company to the similar or even bigger level.

Alabbar’s track record reveals that when he is planning something in the digital arena of the Arab World, he definitely possesses the instincts to pull off the untapped markets.

Source: Wikipedia / Image

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Written by Hisham Sarwar

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