Despite the global rise in construction material prices, Emaar Properties is not hitting the brakes on its development pipeline. Founder Mohamed Alabbar confirmed that the real estate giant is actually managing to stay ahead of its project schedules. While acknowledging a five percent uptick in material costs, Alabbar noted that the company is actively supporting its contractors to ensure operations run smoothly, ultimately allowing them to deliver units faster than originally planned.

Looking ahead, the company is exercising a degree of caution regarding its more ambitious ventures, specifically the redesigned Dubai Creek Tower. Alabbar mentioned that he is holding off on the tender process for the massive project until geopolitical tensions stabilize, acknowledging that current market volatility may persist for some time. Meanwhile, the company’s retail and hospitality sectors have seen a minor dip in performance, with foot traffic at major malls and hotel occupancy rates softening. However, Alabbar remains optimistic, noting that retailers remain satisfied and current occupancy levels are well within a comfortable range for the business.