By: Amr Adel

Dubai – Mubasher: The Emirati businessman Mohamed Alabbar intends to launch a mobile application for the Middle East, alike WhatsApp, by the end of March 2017.

Alabbar said, on the sidelines of a press conference on Monday, that he targets meeting the market's domestic needs through his projects in technology and electronic trade fields.

Digital real estate marketing is currently among the under-study projects, the businessman noted.

The Italian Yoox Net-A-Porter Group (YNAP) launched a joint venture with Alabbar on Monday to establish an activity in the field of online luxury commodities in the Middle East, with AED 520 million investments (€130 million).

A new electronic platform named "Noon.com" was launched two weeks ago by the Emirati businessman with initial investments of $1 billion, in which the Public Investment Fund (PIF) of Saudi Arabia owns 50%.

In April, Alabbar acquired 4% stake in the luxury fashion online store "Yoox Net-A-Porter".

Translated by: Sara Ghali