Emaar Properties founder Mohamed Alabbar has announced plans to open the region’s first not-for-profit real estate educational institute for senior managers and professionals in the industry.

The institute, fully funded by Alabbar, will provide training and educational programmes through an approach that covers both theoretical and practical training by drawing on real-world case studies, Emaar said in a statement.

In addition to visiting professors from reputed universities around the world and successful personalities in the sector, Alabbar will personally conduct lectures on a wide range of topics.

“Over the last two decades, the UAE’s property market has developed an international reputation for investment opportunities with the sector now accounting for nearly 20% of the country’s GDP,” Alabbar said.

“This institute is a token of my gratitude and appreciation to the UAE and its leadership for ensuring a remarkable growth environment that promotes private sector enterprise. I believe that it is imperative to share my experience, gained over the past 20 years, particularly in building globally renowned icons, with the next generation.”

The institute will train professionals on all aspects of project development and management, he added.

The upcoming educational centre will target real estate professionals from across the region, including those who work in property development companies and financial entities. It will also focus on entrepreneurs and professionals from regulatory and governmental entities active in real estate and infrastructure development.

In the first phase, the institute will offer short-term training courses on a wide range of real estate development practices including sectors such as residential and commercial real estate, retail, malls and hospitality projects.