Emirati billionaire Mohamed Alabbar has issued a firm warning against the dangers of monopolies, arguing that they pose a significant threat to the health of local economies and societies. Speaking at the Dubai Fintech Summit, the founder of Emaar Properties and Noon emphasized that businesses must actively resist monopolistic control to protect their home markets. Alabbar cited his own e-commerce venture, Noon, as a strategic response to the dominance of American tech giants, noting that he launched the platform specifically to prevent foreign corporations from controlling the digital landscape in the UAE.

Looking toward the future, Alabbar expressed skepticism about the long-term sustainability of the current "big tech" model, though he remains optimistic that artificial intelligence will eventually disrupt these concentrated power structures. While he acknowledged the necessity of engaging with major players like Meta, he stressed that unchecked corporate dominance limits healthy competition. By fostering local innovation and maintaining a diverse digital ecosystem, Alabbar believes the region can better navigate the complexities of the modern global economy.