Emaar's founder Alabbar sees situation getting better in 9 to 12 months | ZAWYA MENA Edition
Mohamed Alabbar, founder of Emaar Properties and e-commerce platform noon.com, hopes that the economic situation will be better in the next nine to 12 months as the world anxiously waits for the Covid-19 vaccine.
“I believe life will go back to normal and we are not going to have big damage to shopping malls. There is damage to malls in America because there is an overbuilt situation… I truly believe that we will conquer this virus and bounce back,” Alabbar said during a panel discussion hosted by Bloomberg on Tuesday evening.
Keisha Lance Bottoms, mayor of Atlanta, and Xin Zhang, co-founder and CEO of Soho China, also took part in the panel discussion on how to reboot cities post pandemic.
“Shopping malls and restaurants are doing relatively well. But some sectors are not doing well, tourism and travel is suffering a lot,” he said.
Alabbar praised the UAE’s approach in handling the coronavirus by opening up the country and at the same time tripled the Covid-19 tests to contain the pandemic.
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