6 Feb 2024
Dubai is set to welcome another iconic skyscraper mall, dubbed the "Female Burj Khalifa," as announced by Emaar and Noon founder Mohammed Alabbar.
Residents of the bustling metropolis will have the unique opportunity to drive through the future ‘Dubai Creek Tower,’ a towering mall unlike any other.
During a session titled "Towering Success: What It Takes to Build a Business Empire," the Dubai billionaire offered insights into the upcoming project.
The Emaar founder Mohammed Alabbar unveiled details of the ambitious project, stating, “This will be the first time cars can enter a mall so it will be very unique. We did not come up with this ourselves, we learned it from somewhere.”
He revealed the factors that led the company to abandon the ambitious plan for a one-kilometer skyscraper at the location. “We realised we made a mistake,” he said. “We build these towers because we make money out of the apartments that look at the tower. We don’t make any money from the tower. Like how everyone in Paris wants an apartment overlooking the Eiffel Tower. Our buildings are only 50-storey tall so why do we have to build a tower that is one kilometre tall?”
According to the 66-year-old business leader, the investors dubbed the tower the "Female Burj Khalifa," and the first look will be unveiled in a few months. The Dubai Creek Harbour project is envisioned as the "new downtown," with a six-million-square-meter footprint.
He also shed light on how the challenges for Emaar have doubled since becoming a publicly listed company.
“If you have a listed company, you have to tell people every 90 days what you have done, it is a big challenge,” he noted.
He maintained, “You can’t hide. These days, if I go visit a city and news gets out about it, a letter from the stock market comes asking me what I am doing there, what investment I will do and what the feasibility is like.”
Despite the challenge, the business tycoon embraced the opportunity as a way to improve his efficiency
“There are a lot of processes and safety because you are dealing with public money,” he said.
“It really teaches you great discipline. I think it makes you a better person because everything has to be planned.”