Investments in Italia and projects in Venice, Umbria and Forte dei Marmi. And then mountain destinations and islands on the horizon. It is a wide-ranging account of the hospitality sector shared exclusively with *Il Sole 24 Ore* by Mohamed Alabbar, an Emirati businessman who founded Emaar Properties, a property development company involved in projects such as the Burj Khalifa and the Dubai Mall, and who is also the founder of Eagle Hills, a private company which, amongst other things, boasts 95 hotels worldwide, four of which are currently in Italia.

His career began in the fashion industry. Did that influence his approach to property?

For 15 years, I was responsible for managing around 900 shops. It was a journey that taught me to understand culture and which today shapes my vision of hospitality. I own around 95 hotels, operating in the luxury sector, both in cities and at seaside resorts, and I have a presence in around 20 countries. It is precisely the luxury sector that I would like to focus on – a sector that is growing by an average of 5–6 per cent a year, but which is undergoing a profound transformation.

What investments have you made in Italia, and what opportunities are you considering?

I currently own a hotel in Umbria, in Forte dei Marmi, in Venice and in Milan. The hotel in Forte dei Marmi is closed for a complete refurbishment. In Milan, we have the Armani Hotel. We have also just acquired the Hôtel des Bains on the Lido in Venice. I am also looking at Italian mountain destinations, where the skiing experience – as well as the summer experience in certain resorts – is particularly appealing. I am seriously considering three hotels: unique properties that I would like people to come to appreciate once again.

Can the positive trend in the hospitality sector in Italia continue in 2027 and 2028?

If we look at the overall situation, the growth in tourism and the infrastructure, the country is heading in the right direction. But there is something even more important: its uniqueness. Italia is an open-air museum, but it is also the combination of its people, culture, landscapes, architecture, food and music that makes it all authentic. This is why the Italian market has a global reach.

Could you tell us about the Lido Palace project in Venice? Are you considering building a marina?

We will work alongside the mayor and do everything that the local council allows us to do. The marina is a possibility, because it is such an iconic location. More and more people are buying beautiful properties, restoring them and rediscovering the value of that beach. When I look at the black-and-white photographs, I see the beauty, the history and the passion of days gone by. We want to bring that glamour back to life. That is also why I have invested in Forte dei Marmi.

Will he be investing in Florence? Is he considering an integrated project linking his property in Antognolla, Umbria, with Florence and Venice?

I certainly agree with the idea of developing a project based on this vision. And we’re looking for something unique in the Florence area.

Are there plans for further investment in Antognolla?

We have purchased a plot of land adjacent to the property so that we can build an equestrian centre and a polo club. I play polo, and my children play polo. We want to create a combination of golf, polo, wellness, luxury residences and the hotel in the castle. But to ensure everything remains authentic, I don’t want to bring in a hotel chain.

Sardinia or Sicily?

We are currently in the process of analysing the Sardinian market. I want to get to know the island better.

What are the main changes in the luxury hospitality sector?

Customers pay close attention to the quality of the experience, the character of a place and sustainability. They want to know whether what they are experiencing is truly authentic.

In which geographical areas are your hotels concentrated?

In Europe and the Middle East. I’ve also started developing projects in Africa and am looking with interest at Asia. But my dream is to live in Antognolla. I love Umbria, and the cheese here is the best! But I also love the fact that it’s a very spiritual region. I’m very religious and I can sense the mystical atmosphere of the place.

What’s the situation like in Dubai?

Our hotels had an occupancy rate of 82 per cent, which has now fallen to 60 per cent. The retail sector, too, had been growing at a rate of 10 per cent a year for many years; this year, we are seeing a 10 per cent decline. We need to be realistic: this situation could last six months or a year.

How important is it to work with local architects, designers and businesses?

Without the involvement of local professionals, it would not be possible to strive for authenticity.

Any other projects around the world?

My projects are on a large scale. I don’t just build individual buildings: I develop entire neighbourhoods. I’ve launched a six-kilometre-long property development in Egypt. It comprises eleven hotels, around 1,000 rooms and a marina. I set up a joint venture with the Armani family about 16 years ago. Today, we are expanding this partnership to take it global. I also own a company in the food sector – a large firm operating in the Middle East with a presence in around 14 countries. We run restaurants and food processing businesses. And I founded Noon, the Middle East’s e-commerce platform.

Paola Dezza