Founder of Emaar Properties, Mohamed Alabbar, stated that the company plans to execute projects this year worth nearly 7 billion dollars. Alabbar expressed optimism about the region's ability to emerge from the current crisis in a 'stronger and more stable' position. He noted that the UAE has proven high efficiency in dealing with previous crises, and history always confirms that economic growth returns with force and speed after crises end, citing the COVID-19 pandemic as a living example. In an interview with the 'Cairo 24' website, Alabbar clarified that the region is going through an 'extremely critical' phase that requires significant economic cohesion to face current challenges. He also confirmed that Emaar has given clear and decisive instructions not to infringe on employee rights or resort to layoffs, despite the current economic conditions and challenges the markets are facing. 'There is no intention to lay off workers or reduce salaries,' Alabbar stated.
