Mohamed Alabbar, the prominent Emirati billionaire and founder of Emaar and noon, criticised the dominance of major technology companies, stressing that businesses should not allow a single company to control a country’s market and services.

Alabbar said: “You should not accept monopolies. We must protect our community, our country and our region.”

The founder and chairman of Emaar Properties and e-commerce platform noon explained that one reason for launching noon was to counter the dominance of certain US companies over delivery services in the UAE.

Alabbar added: “I do not want a company to enter our country and take control of the entire e-commerce experience. That is why I have an issue with big technology companies. I am not sure this monopoly can continue, but I believe artificial intelligence will change the landscape.”

Criticism of US technology giants’ dominance

Noon, Alabbar’s e-commerce platform, has expanded into food delivery and rapid delivery services in recent years.

Alabbar claimed that noon’s nine-minute delivery service was the first of its kind in the world.

Referring to the power of major US technology companies, he said: “How can you negotiate with Microsoft?”

The Emirati businessman said he opposed the dominance of US technology giants, although he made one exception.

He said: “I negotiate with Meta, but I do not negotiate with any other company.”

Alabbar made the remarks during the Dubai FinTech Summit 2026, one of the region’s largest gatherings for the financial technology industry.

The summit brings together international financial executives, regulators, investors, banks and technology innovators to examine topics including the use of artificial intelligence in finance, digital assets, payments, wealth management technology, sustainability and the future of financial services.

Hosted by the Dubai International Financial Centre (DIFC), the event is the flagship programme of Dubai Future Finance Week.

Alabbar warns companies delaying AI adoption will fall behind

Alabbar also warned business owners that delaying the adoption of artificial intelligence could quickly widen the gap between them and their competitors.

He stressed that AI technology is constantly evolving and that companies failing to adapt to these developments will face serious challenges.

Alabbar said: “The gap between those using AI and those who adopt it a little later will widen over the next few months.”

Addressing the future of enterprise resource planning systems, which companies use to manage their day-to-day operations, he said that as AI becomes more widespread, such systems in their current form may have only another 12 months left.

Alabbar believes AI could reshape the technology market and create new opportunities to compete with large, dominant companies.