The Uruguay international has been linked with the Gunners this week.
But Vincenzo D'Ippolito told TMW: "Abel is young, has just reached two decades, certainly this year we want to leave him in peace. In the future we'll see.
"Arsenal? Things are a bit dated, the guy is liked by everyone, even in Italy. But now it is premature to talk about it. Of course, there is always interest, also from Germany, but the guy is happy at Palermo."