Dubai billionaire Mohammed Alabbar proposes $400 billion plan to address US housing shortage


Daijiworld Media Network - Dubai

Dubai, Oct 23: Dubai-based billionaire and Emaar Properties founder Mohammed Alabbar has revealed a $400 billion proposal to tackle America’s growing housing crisis, calling it both a humanitarian and economic opportunity that could reshape the U.S. market and generate up to 20 million jobs.

Speaking virtually at the Reuters NEXT Gulf Summit from Georgia, Alabbar highlighted that the United States faces a shortage of nearly five million homes and warned that failing to address it promptly could be disastrous. He stated that the necessary capital could be raised in just one week through coordinated global investment.

Alabbar noted that the U.S. housing shortfall is the result of years of under-construction, rising costs, and regulatory and labour constraints. He said that resolving this shortage could reduce inflation, create millions of jobs, and generate significant tax revenue over the next decade.

While Emaar has not confirmed partnerships in the U.S., Alabbar said the company is exploring markets such as India, China, and the U.S., preferring joint ventures or stakes in local firms. He also suggested that large-scale housing initiatives could deepen U.S.–UAE investment ties, foster collaboration with Gulf sovereign wealth funds, and boost the presence of UAE companies in sustainable urban development.

Although the focus of the plan is housing, Alabbar’s track record for iconic architecture raises the possibility of visionary urban projects in the U.S., including sustainable townships, eco-districts, or integrated “cities within cities.” He emphasized that buildings serve as symbols of confidence, suggesting that the ambition and scale behind Dubai’s urban transformation could inspire similar developments in America.

Alabbar’s $400 billion proposal frames housing as not only a real estate challenge but also a matter of global investment, economic strategy, and infrastructure development.

  

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Title: Dubai billionaire Mohammed Alabbar proposes $400 billion plan to address US housing shortage



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