The Emirati Al Habtoor Group intends to invest between $2.8 and $3 billion in the real estate sector inside and outside the Emirate of Dubai during the current year, Khalaf Al Habtoor, Chairman of the Board of Directors, told Bloomberg TV yesterday, Monday.
Regarding the recent reopening of the Habtoor Hotel in Beirut after maintenance work was carried out as a result of the damage it sustained from the Beirut port explosion in 2020, Al Habtoor said: There are several indications that Lebanon will soon return again.. Lebanon as we know it, not Lebanon in its current situation.
Al Habtoor revealed that the group had delayed its initial public offering plans for several years.
Al Habtoor announced in November 2021 his intention to offer 35% of the group's shares for public subscription, expecting the offering to take place during the third quarter of 2022, but that did not happen.
In this regard, Al Habtoor added, “I decided to postpone this at least between 3 or 4 years.. It may happen in 2025 or 2026, justifying this by his desire to show investors the strongest balance sheet in their lives.”
The Al Habtoor Group, established in 1970, is one of the largest Emirati companies operating in real estate, hospitality, cars, education and publishing. It owns 14 hotels in several countries, 7 of which are in the UAE and 7 abroad in Austria, the United Kingdom, Lebanon, the United States and Hungary.
