From Dubai to Bangkok: Mohamed Alabbar is chasing a $5 billion deal in weeks and a skyscraper that could dethrone his Burj Khalifa. Pace chief Sorapoj Techakraisri is an ally, not a confirmed partner. No land, permits or binding deal yet despite 18 months of talks.
Dubai billionaire Mohamed Alabbar, the man behind the 828-metre Burj Khalifa, plans a ฿160 billion ($5 billion) Bangkok development that could smash his own world record. After 18 months of talks, the Emaar Properties founder expects a deal within two weeks. His close friend, Pace Development chief executive officer Sorapoj Techakraisri, whom he calls a brother, is a potential collaborator. However, no partnership is confirmed. The project includes luxury hotels, offices, residences and a record-breaking skyscraper. Meanwhile, Alabbar is targeting coastal resorts and Bangkok’s Khlong Toei Port. Yet no site, binding agreement or building permit exists as Thailand’s property and tourism markets struggle.
Dubai billionaire Mohamed Alabbar is closing in on a ฿160 billion ($5 billion) Bangkok property deal that could deliver the world’s tallest building. The developer behind Dubai’s Burj Khalifa has spent 18 months negotiating with Thai investors.
He expects an agreement within two weeks. However, the proposed skyscraper has no confirmed site, approved design or construction permit. The 70-year-old Emirati businessman is also targeting major coastal resorts and Bangkok’s Khlong Toei Port.
Alabbar, founder of UAE-based Emaar Properties and Eagle Hills, disclosed the investment plans during a recent visit to Thailand. In interviews published on Thursday, November 12, he outlined a development combining luxury residences, hotels, offices and shopping facilities.
Eagle Hills leads $5 billion Bangkok venture as Alabbar seeks Thai partners and a site for development
The investment would initially proceed through Eagle Hills, his privately held international property company. Emaar Properties could subsequently enter the project, particularly through its retail and hotel businesses.
Speaking to THE STANDARD WEALTH, Alabbar said his organisation had studied Bangkok investment opportunities for four years. Negotiations over the current development have continued for approximately 18 months.
Notably, he expects to conclude an agreement with Thai investors within one or two weeks. That would place the decision in the second half of November, although no binding agreement has been announced.
The proposed development would occupy between 20 and 30 rai of leased land in Bangkok. That represents approximately 32,000–48,000 square metres. Yet the developer has not identified the site.
Alabbar confirmed that his organisation was still searching for the most suitable location. The investment is estimated at $5 billion, equivalent to approximately ฿160–170 billion.
Bangkok skyscraper could surpass Dubai’s Burj Khalifa but height and government approval remain open
At that level, the development would rank among Thailand’s largest proposed private property investments. It would combine luxury residences, offices, shopping facilities and hotels around a landmark skyscraper.
Alabbar wants the tower to become an internationally recognised symbol of Bangkok. Crucially, he has expressed interest in exceeding the height of Dubai’s Burj Khalifa.
The Burj Khalifa stands 828 metres high and remains the world’s tallest completed building. Emaar Properties developed the skyscraper, which opened in 2010. However, Alabbar has not announced a final height, architectural design, or floor count for the Bangkok tower. Nor has he disclosed the tower’s individual construction budget or a definitive location.
Speaking to Bangkok Biz News, the businessman stressed that Thai regulations would determine the proposed tower’s height. He would welcome permission to construct a record-breaking skyscraper if the authorities approved it.
Nevertheless, he acknowledged that the project might proceed without becoming the world’s tallest building. His stated objective is to create a distinctive landmark attracting international attention.
Alabbar cited the Empire State Building in New York and the Eiffel Tower in Paris as examples. Both structures have become internationally recognised symbols of their respective cities.
Similarly, he wants Bangkok to acquire a landmark associated with its identity and tourism appeal. The building’s architectural importance, he argued, would extend beyond its physical height.
Thai architects to design landmark as Eagle Hills prepares its first major Southeast Asian investment
The developer also wants Thai architects to take a leading role in designing the project. Rather than reproduce Dubai’s architectural style, the skyscraper would incorporate Thailand’s cultural identity.
Alabbar praised Thai architects for their artistic abilities and distinctive design approach. At the same time, he made clear that he would personally supervise the architectural process.
His expectations are demanding. Alabbar described previous projects where architects faced repeated requests for design revisions. Indeed, he acknowledged that some designers had been reduced to tears by his insistence on changes.
He nevertheless considers architectural detail central to creating internationally recognised buildings. His experience includes overseeing the Burj Khalifa and other major Dubai developments.
The Bangkok project would represent Eagle Hills’ first major investment in Southeast Asia. Separately, the company is examining Indonesia as another potential regional market. Eagle Hills operates across more than 20 countries, spanning the Middle East, North Africa, Europe and Asia. Its investments include residential districts, waterfront developments, commercial complexes and urban regeneration schemes.
The company’s business model extends beyond constructing individual skyscrapers. Instead, it develops integrated communities combining housing, hotels, shopping facilities and public infrastructure.
Alabbar draws on decades of Dubai development experience while seeking investors for Bangkok venture
Alabbar has pursued this strategy internationally for almost three decades. His projects have involved former ports, military sites, abandoned land and underused urban districts.
Such developments can include roads, parks, schools, residential communities, hotels and shopping centres. Consequently, the proposed Bangkok complex follows an established investment model.
Emaar Properties developed both the Burj Khalifa and The Dubai Mall. Those projects became prominent features of Dubai’s expansion as a commercial and tourism destination.
For Thailand, however, the investment would initially proceed through Eagle Hills rather than publicly listed Emaar Properties. Any subsequent Emaar involvement remains subject to further arrangements.
Meanwhile, Alabbar is seeking Thai investors willing to participate in a joint venture. He has indicated that shared development ambitions will influence his choice of partners.
During his Bangkok Biz News interview, Alabbar emphasised the importance of finding investors who support distinctive architectural projects. Financial participation alone would not determine his selection.
Pace chief linked by friendship to Alabbar as partners remain unnamed as construction plans emerge
One Thai property executive mentioned during the discussions was Sorapoj Techakraisri, chief executive officer of Pace Development Corporation. Alabbar acknowledged a longstanding personal friendship with Sorapoj.
He described Sorapoj as being like a brother and said they had known each other for many years. Furthermore, he expressed hope that they might collaborate professionally. However, neither Sorapoj nor Pace Development has been confirmed as an investor in the Bangkok project. The identities of the eventual Thai partners remain undisclosed.
The proposed joint venture also has no publicly announced ownership structure. Equally, the financial contributions expected from individual investors have not been revealed. The estimated $5 billion investment therefore remains a proposed development commitment rather than confirmed expenditure. No binding agreement has yet been publicly announced.
Alabbar has nevertheless outlined a development programme lasting approximately three to five years. The first year would concentrate on detailed architectural design, technical planning and regulatory approvals.
Physical construction could begin approximately 18 months after the development process formally starts. On that timetable, an agreement completed before December could place initial construction activity during 2028.
Bangkok tower faces engineering and permit hurdles as earlier Srettha government talks return to focus
That remains an indicative schedule rather than an announced construction date. The developer must first complete negotiations, identify the site and secure the necessary permits.
Moreover, a skyscraper exceeding 828 metres would face substantial engineering and regulatory requirements. These would include foundations, structural safety, emergency evacuation arrangements and transport infrastructure.
Environmental assessments and aviation-related height restrictions could also influence the eventual design. The developer has not disclosed whether a suitable site can accommodate a record-breaking tower.
Nor has Alabbar specified how much of the proposed investment would finance the skyscraper itself. The remaining capital would support residential, commercial, retail and hospitality facilities.
The latest announcement revives a proposal first discussed during the administration of former Prime Minister Srettha Thavisin. In April 2024, Srettha met representatives of Emaar Group, Broad Group and Vatone Group. Their discussions examined major investment opportunities in Thailand, including a potential world-record skyscraper.
At the time, the former prime minister promoted the concept as an international tourism attraction. He also presented it as a potential stimulus for private investment.
The earlier proposal included offices, a financial centre, hotels, shopping facilities and entertainment venues. However, no publicly confirmed construction agreement emerged from those negotiations.
New Bangkok plan revives 2024 skyscraper talks but record height and construction methods undecided
Alabbar subsequently clarified that the proposal involved an investor group associated with him personally. It was not being undertaken directly by publicly listed Emaar Properties.
In addition, the 2024 discussions examined alternative construction technologies for exceptionally tall buildings. These included structural methods potentially reducing dependence on conventional concrete.
No specific construction technology has been confirmed for the latest Bangkok development. Likewise, the developer has not disclosed whether those earlier technical proposals remain under consideration.
The November announcement does, however, provide considerably more detail than the 2024 discussions. It identifies an investment estimate, land requirements, development structure and timetable for negotiations.
Even so, the proposed world-record tower remains conditional. Thailand has not approved a skyscraper exceeding the Burj Khalifa, and no final architectural design has been publicly submitted. The proposed $5 billion development is therefore distinct from the ambition to construct the world’s tallest building. One could proceed without the other.
Alabbar eyes vast Thai coastal resorts on leased land alongside the proposed $5 billion Bangkok project
Alabbar’s investment ambitions also extend beyond Bangkok’s proposed skyscraper. On another front, he has expressed interest in constructing major coastal resorts covering approximately 3,000–4,000 rai. That represents between 4.8 and 6.4 million square metres. Such developments would occupy substantially more land than the proposed Bangkok site.
The coastal projects could include hotels, residential communities, recreational facilities and associated commercial infrastructure. However, Alabbar has not identified a specific location. Neither has he announced agreements with landowners, investors or government agencies. These proposals remain separate from the advanced negotiations concerning the Bangkok development.
The coastal investments would follow the same development model planned for Bangkok. Eagle Hills would seek local partners and establish long-term lease arrangements.
Alabbar has indicated that his organisation does not intend to prioritise outright land acquisitions. Instead, he prefers agreements allowing existing landowners to retain ownership of their property.
Under this approach, developers obtain long-term rights to use and improve land without purchasing it outright. Alabbar argues that such arrangements can benefit property owners while supporting substantial investment.
His company has used similar structures in international development projects. For Thailand, the strategy would apply to both urban and coastal opportunities.
Khlong Toei Port redevelopment attracts Alabbar interest but no private investment agreement is signed
A further target is Bangkok’s Khlong Toei Port. Alabbar expressed interest in participating in its redevelopment if private investors were invited. The port area has attracted attention under government proposals for future development. However, Eagle Hills has not announced any agreement concerning the site.
The businessman cited previous experience transforming older port districts in Dubai and Europe. Those projects involved converting industrial waterfronts into residential, commercial and recreational developments.
Similarly, Eagle Hills has undertaken major waterfront regeneration schemes across several international markets. Any participation in Khlong Toei would nevertheless depend on future Thai government decisions.
The Bangkok skyscraper, coastal resorts and port redevelopment represent three separate investment opportunities. Only the proposed ฿160 billion mixed-use project has reached the advanced negotiation stage described by Alabbar. The others remain expressions of investment interest without confirmed locations, partners or financing arrangements.
Thailand property slowdown and falling tourist arrivals form backdrop to Alabbar’s Bangkok investment
The announcement comes during a difficult period for Thailand’s property industry. Weak domestic purchasing power, subdued economic growth and concerns over excess property supply have weighed on developers.
At the same time, the country’s international tourism sector has faced mounting pressure. Foreign visitor arrivals declined approximately 4.5% during the first ten months of 2026 compared with 2025.
The decline has been linked partly to geopolitical tensions and disruption affecting international travel. Middle East instability and higher energy costs have also increased pressure on airline operations.
As a result, Thailand faces weaker visitor numbers while property developers contend with slower domestic demand. These conditions form the economic backdrop to Alabbar’s proposed investment.
The Emirati businessman nevertheless believes Thailand remains attractive for long-term development. He cited the country’s culture, tourism industry, geographical position and established economic infrastructure.
Additionally, he highlighted Thailand’s beaches, food, music and cultural attractions. He considers these assets important to future international visitor demand.
Alabbar takes long-term view of Thailand despite weak growth as Bangkok tourism is central to plans
Alabbar acknowledged Thailand’s weak economic performance and slower property market. However, he said major investments should be assessed over periods extending beyond current economic conditions.
His development strategy typically involves investment horizons of ten to fifteen years. He therefore does not regard temporary economic weakness as decisive when considering large projects.
Drawing on his European experience, Alabbar cited developments undertaken during periods of economic contraction. He said subsequent recoveries had supported investments made when conditions were less favourable.
Major developments, he explained, can require several years before their commercial potential becomes apparent. Some projects need three to five years before growth becomes visible.
He remains particularly interested in Bangkok’s ability to attract international visitors and Middle Eastern tourists. The Thai capital, he said, possesses substantial cultural and commercial appeal.
He also cited a 3% growth figure for Bangkok while discussing tourism prospects. That assessment contrasts with Thailand’s wider decline in foreign visitor arrivals during 2026.
Eagle Hills targets future Bangkok demand while financing, partners and approvals remain to be secured
Alabbar nevertheless expects the tourism market to strengthen over the longer term. His proposed development would target future demand for accommodation, offices, shopping facilities and international hospitality services.
In parallel, the businessman has emphasised the importance of timing major investments. He believes development programmes must account for economic fluctuations during planning and construction.
His experience spans almost three decades and more than 20 countries. During that period, his companies have undertaken projects under widely differing economic conditions.
Accordingly, he maintains that investment decisions should not depend solely on current growth figures. For Bangkok, however, the immediate commercial requirements remain substantial.
Eagle Hills must secure suitable land, finalise the joint venture and establish financing arrangements. The developer must also obtain the approvals required for a project of this scale. Beyond those requirements, the residential and commercial components would need buyers, tenants and operating partners. Hotel and retail facilities would depend on future market demand.
Bangkok deal approaches deadline but tower height, hotel operators and investment partners are unknown
None of those commercial arrangements has been publicly detailed. Nor has Alabbar identified the companies expected to operate the hotels or shopping facilities. The eventual mix of residential, office and hospitality space also remains undisclosed. Those decisions would form part of the project’s detailed development planning.
The latest statements nevertheless establish a more immediate timetable than the earlier 2024 discussions. Alabbar expects negotiations with Thai investors to conclude within one or two weeks. That places the proposed agreement in the second half of November 2026. Yet completing a joint venture would not automatically authorise construction.
Separate approvals would still be required for the land, architectural design and proposed skyscraper. The Thai government has not announced a binding commitment to permit construction above 828 metres.
Neither has the developer disclosed a confirmed building height or construction permit. The location remains unresolved despite four years of investment studies.
The identity of the Thai partners has also not been formally announced. Another outstanding issue concerns the possible involvement of Emaar Properties. Eagle Hills is currently the principal company identified with the development. Emaar could participate later, particularly in the retail and hospitality components.
$5 billion Bangkok project awaits binding agreement as world-record skyscraper remains only an ambition
The proposed investment would represent a substantial expansion of Alabbar’s international property interests into Thailand. It would also bring the developer behind Dubai’s most prominent skyscraper into one of Bangkok’s largest proposed developments. However, the project remains dependent on a formal investment agreement and subsequent regulatory approvals.
The immediate focus is on identifying the Thai partners, confirming the location and completing the financial arrangements.
Those decisions will determine whether the proposed ฿160 billion development advances into architectural planning. Separately, the world’s tallest building remains an ambition within the wider property proposal.
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Alabbar has expressed his willingness to construct a tower exceeding the Burj Khalifa. He has also acknowledged that Thai regulations could prevent such a design. The final development could therefore proceed without breaking the world height record.
No approved architectural plans, confirmed tower dimensions or construction commencement date have been published.
The proposed $5 billion investment follows 18 months of negotiations and four years of market studies. However, the project has yet to secure a publicly announced binding agreement. Alabbar expects a decision on the Thai joint venture before the end of November. Until then, Bangkok’s proposed challenger to the Burj Khalifa remains an unapproved development awaiting confirmed investment commitments.
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