Mohammed Alabbar buys share of

Mohammed Alabbar buys share of

Middle Eastern merger

The Middle East's ranking as a fashion hub has inched Dhs417 million higher with Mohammed Alabbar's part purchase of

It's confirmed. Mohammed Alabbar, the Founder and Chairman of Emaar Properties, now owns a share of YNAP, the Yoox Net-a-Porter Group announced the news this week citing that: "The world's leading online luxury fashion retailer, is pleased to announce the execution of a dedicated capital increase of €100 million (Dhs417 million) to be entirely subscribed for by Alabbar Enterprises, controlled by Mohamed Alabbar."

"As a strategic shareholder, Alabbar will be in a position to provide invaluable insights and support to Yoox Net-a-Porter Group, which will be key to developing the Group's rising business in the promising yet complex Middle Eastern luxury e-commerce market," continued the announcement.

Alabbar's investment sees him with a four per cent share of YNAP, which owns some of the world's leading luxury online sites including,, and