Speaking exclusively to Lana last Friday, Mohamed Alabbar confirmed that Emaar will not be cutting salaries or reducing headcount across its hospitality division despite the challenges facing the sector.
“We’ve decided we are not going to reduce salaries in our hospitality and our company,” Alabbar said. “We are not going to release people. We are strong enough to go through this.”
The comments come as regional uncertainty continues to weigh on tourism flows and hotel occupancy across the UAE. But for Alabbar, this is precisely the moment that three decades of preparation was designed for.
“Sheikh Mohammed bin Rashid keeps telling me, there is a day and there is night, and the night comes. Are you ready for the night? Honestly, we are ready for the night every single night of our lives.”
Drawing on a track record of navigating global crises from the 1997 Asian financial shock to COVID-19, Alabbar argued that preparation is what separates companies that can protect their people from those that cannot.
“Shame on us if we cannot build a resilient organisation that can last almost anything. That is not so easy to do unless you really prepare, prepare for years, and you are serious about it.”
He remained bullish on recovery, pointing to the speed with which cities like New York, Mumbai and Bangkok have bounced back from far greater shocks. “The resilience of human beings and their memory is something that is great for the world.”
