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02/07/2015 16:50 AST
Mohamed Alabbar, the founder and chairman of Emaar Properties, has unveiled plans for the region’s first not-for-profit ‘real estate’ educational institute to provide world-class training for the real estate sector.
The centre of excellence, fully funded by Alabbar, will provide comprehensive training and educational programmes through an integrated approach that covers theoretical and practical training by drawing on real-world case studies, said a statement from Emaar.
Based on his personal contribution and leading role in making Dubai a global city, Alabbar seeks to put his knowledge and extensive experience to the service of the UAE, especially in the real estate sector by mentoring the new generation of professionals, it stated.
In addition to visiting professors from the world’s most renowned universities as well as several highly successful personalities who have proved their competencies in the property sector, Alabbar will personally conduct lectures on a wide range of specialised topics, the statement added.
Alabbar said: “Over the last two decades, the UAE’s property market has developed an international reputation for investment opportunities with the sector now accounting for nearly 20 per cent of the country’s GDP (gross domestic product). This institute is a token of my gratitude and appreciation to the UAE and its leadership for ensuring a remarkable growth environment that promotes private sector enterprise."
"It also complements the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, who has been instrumental in driving the growth of the nation through ground-breaking policies that encourage investment and growth, especially in the private sector," he added.
According to him, the institute will be a world-class training centre that covers all aspects of project development and management.
Alabbar said when he entered the real estate sector, he did not have ample expertise, but has now gained a keen understanding of the sector across all global markets. "I believe that it is imperative to share my experience, gained over the past 20 years, particularly in building globally renowned icons, with the next generation," he observed.
“It is important to prepare them for the new era of growth in the UAE, in which the property sector will have a central role in driving all-round infrastructure growth. By sharing our skills, experience and know-how, we want to prepare and enable professionals to execute to global standards that will add to the nation’s civic pride,” he added.
In the first phase, the institute will offer short-term training courses covering a wide spectrum of real estate development practices including sectors such as residential and commercial real estate, retail and malls and hospitality projects.
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