DUBAI – Mohammed Alabbar, Chairman of Emaar Properties, has received the prestigious Arab Bankers Association of North America (ABANA) Achievement Award 2012 at a special ceremony held in New York earlier this week, for his outstanding achievements and pioneering contributions to business.



A premier recognition by the leading group of New York-based financial professionals, the ABANA Achievement Award is presented annually to individuals or groups who have made compelling contributions to the business sector.



In his acceptance speech, Alabbar underlined the strategic position of Dubai as a key link in the New Silk Road of trade and commerce that connects America and the emerging markets in Asia.



Alabbar said that America will need fast-growing consumer markets in the Middle East, Africa and Asia markets to drive its exports sector and sustain the growth momentum.



“America’s biggest opportunity is the Middle East region, where it has established strong partnerships. The two regions need to engage positively by focusing on the soft power and skills of the Middle East’s 200 million youth population,” he said.



Alabbar said that the US-Middle East relations are at the threshold of a new era following America’s rapid move towards oil self-sufficiency. “The America’s oil-led narrative with the Middle East is changing. The discovery of shale gas and its huge prospects is set to alter the oil sector dynamics of the American economy. — Agencies