Property cancellations at Emaar Properties doubled to around 1,200 a month during the recent regional tension but have since fallen to fewer than 600, founder Mohamed Alabbar said on Thursday.
Speaking at the ninth Sharjah Investment Forum (SIF 2026), Alabbar said the developer typically sells about 4,000 units a month, with roughly 600 cancellations. The spike was temporary, he said, and cancellations are back at normal levels.
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Collections remained at 9 per cent throughout the conflict period, he said, adding that Emaar’s sales backlog stood at around Dh180 billion. The backlog is the value of property sales yet to be recognised as revenue.
“We are still collecting exactly like before. That shows you customer confidence,” he said during a fireside chat titled ‘The CEO’s Playbook: Leading Through Constant Change’.
“We live in an incredible country, with great substance and great leadership. The future looks much better,” he added.
Emaar’s revenue backlog reached Dh127.7 billion as of June 30, 2026, an increase of 8 per cent compared to H1 2025.
During the first half of 2026, Emaar said construction across all ongoing projects progressed in line with schedules, underscoring the company’s disciplined execution, strong governance, and continued focus on timely delivery.
Noon going strong
Millions of shoppers on his e-commerce platform, noon, kept buying without hesitation, Alabbar said. He also reported that hospitality activity was running more than 60 per cent above previous levels.
Alabbar, who also chairs Eagle Hills, said stability, leadership and quality of life were critical advantages for the UAE at a time of growing global uncertainty. Investors and families, he argued, are increasingly putting personal security, education and long-term stability ahead of financial incentives when choosing where to base their businesses and lives.
“Forget about tax. People are moving to countries where life and education are safe,” he said.
He pointed to the US’ debt of about Dh146.9 trillion and the economic implications of instability in major markets.
The 69-year-old entrepreneur said major disruptions were becoming more frequent.
“History shows a major disaster such as war, famine, earthquake, flood or disease roughly every two years and four months. Earlier Covid was a big surprise, and then the air war was shocking. None of us had gone through this before,” he said. “We are in an unstable world, but that should not stop us.”
Alabbar urged business leaders to drop rigid long-term planning in favour of more frequent strategic reviews.
“You need to adjust every three months. Five-year budgets should be indicative,” he said.
He called artificial intelligence (AI) a competitive necessity. “Those who adapt to AI will be faster, smarter and cheaper. Educate yourself, stay with it and try different things,” he said.
He described prompting, the ability to write effective instructions and questions for AI systems, as an important skill for leaders seeking better productivity and decision-making.
Quality over discounts
Explaining why Emaar competes on product quality rather than price, Alabbar said: “I don’t give discounts. We give quality. The only sustainable thing in life is your name, your family name and your country’s name.”
He credited the success of his businesses across 20 countries to the people running them. “The key to everything in life is amazing people. I learnt late to search for the best people and reward them fairly,” he said.
Asked how he hoped to be remembered, Alabbar said: “I hope I was able to contribute to a beautiful society, and give hope that tomorrow is a better day.”
Source: Khaleej Times