Money and business

The decision to offer the hotel portfolio for subscription before the end of the year

The Emirati businessman, founder and Chairman of the Board of Directors of Al Habtoor Group, Khalaf Ahmed Al Habtoor, stated that “(the group) will make its final decision before the end of this year regarding offering its hotel portfolio for public subscription on the Dubai Financial Market,” stressing that a number of European and Chinese investors have expressed great interest in participating in this potential offering.

Al Habtoor explained, in his interview with Emirates Today, that the proposed offering will not include the entire group, but rather will be limited to the “hotel unit” within the Al Habtoor portfolio, in preparation for offering other sectors in later stages, noting that the group currently owns 14 hotels inside and outside the UAE, pointing out that this step will be the beginning of a broader path towards offering other sectors belonging to the group later.

He stated that the group is currently considering entering into new sectors, including technology, artificial intelligence, and scientific research.

In detail, Al Habtoor confirmed that the upcoming offering will not include the entire portfolio of the group, but rather will be limited in its first phase to the hotel unit, which is considered one of the most prominent, active and growing business sectors of the group, as the group includes several sectors.

He added that the group had been studying this idea for a long time, and its position had changed in previous stages based on the data it had, but the current circumstances have become more mature, which encouraged it to announce its intention officially, indicating that the group will proceed with any future plans that will contribute to expanding its investments inside and outside the UAE.

He continued: “We are studying this issue calmly and carefully, and thinking about it deeply, because the goal for us is not to collect money, but rather to choose the appropriate partner who will add to the group and participate with us in the success of our long-term plans.”

Al Habtoor confirmed that no banks or financial institutions have been assigned regarding this step, indicating that during the coming period things will become better clarified, and the relevant authorities will be addressed as soon as the decision is taken.

He pointed out that a number of international companies have expressed their interest in participating in the offering, saying: “Several companies from abroad, from Europe and China, have expressed their desire to invest with us in the hotel portfolio, and some of them are huge companies with experience in this sector and the fields in which we specialize.”

He explained that the group will make its final decision regarding moving forward with the offering process before the end of this year, after completing the necessary studies and consultations with partners and financial advisors, pointing to the strong performance of the various sectors in the group, including the hospitality sector.

The Al Habtoor Hotel Group’s portfolio currently includes 14 hotels inside and outside the UAE, including hotels and resorts bearing international brands, and enjoying strategic locations in Dubai and several international cities, including seven hotels inside the UAE and seven facilities outside it.

Al Habtoor stressed that the listing step on the stock exchange, once completed, will contribute to expanding the group’s investor base, in addition to supporting its trends in regional and global expansion in the hospitality sector and continuing innovation in providing services.

In addition, Al Habtoor revealed, “During the current year, the group achieved a 20% growth in revenues and results across the various sectors in which it operates, benefiting from the great economic momentum that Dubai is witnessing at the current stage.”

Al Habtoor said, “These results are very strong and encouraging,” noting that Dubai enjoys exceptional attractiveness for investors, tourists and businessmen from all over the world.

He pointed out that tourism flow rates in Dubai are the highest ever and are witnessing a strong and continuous growth pace.

He added: “There is a great demand for Dubai, thanks to the continuous efforts of the Department of Economy and Tourism in Dubai, and the pivotal role that Emirates Airlines plays in enhancing travel and demand for the emirate.”

He explained that “Dubai has become a global center for hosting major international conferences and exhibitions, which enjoy wide participation that greatly exceeds what is witnessed in major cities in Europe and America, which reflects the strength of the infrastructure, the efficiency of organization, and the global economic position of the emirate, in addition to the strong performance of leisure tourism there.”

Al Habtoor praised the role of government departments and agencies in Dubai, stressing that they are constantly working to raise Dubai’s name and strengthen its position on the global stage. He said: “Government agencies in Dubai have all the appreciation, as they do not stop working to raise the name of the emirate, and this is the secret of its distinction and its continued leadership in various fields.”

Regarding future expansion plans, Al Habtoor revealed that “the group is currently studying entering into new sectors, including technology, artificial intelligence and scientific research,” stressing that the group looks to the future with a spirit of innovation and renewal in line with global economic transformations and Dubai’s ambitious vision for the future.

In this context, he stated that the Al Habtoor Research Center expanded its strategic operations by opening a new branch in Dubai, in a step that reflects its vision to strengthen its position as one of the leading research centers in the region and move towards a broader global presence. He pointed out that the choice of Dubai comes due to its distinction in an incubating environment for innovation and scientific research, in addition to its status as a global center for trade and economics and a diverse society that brings together… Talents from around the world.

He stressed that the Dubai branch will undertake the task of focusing on innovation, scientific and medical research, in line with global trends, in addition to presenting ideas for the possibility of entering into new investment sectors and discovering future opportunities.

Al Habtoor refused to disclose the size of the assets of the group as a whole, which includes various activities in hospitality, cars, real estate, education and publishing, only pointing out that the volume of assets and investments in Al Habtoor City alone exceeds 30 billion dirhams.

He explained that “Al Habtoor City” now includes the new “Al Habtoor Tower”, which is the largest residential building in the world, within the “Al Habtoor City” project, which includes 1,739 apartments, extending over an area of ​​​​more than 3.5 million square feet, distributed over 81 floors.

Al Habtoor stressed that these giant projects reflect the Al Habtoor Group’s confidence in the UAE economy and in the strength of the real estate market in Dubai, noting that “the increasing demand for luxury real estate in the emirate strengthens its position as a global destination for housing and investment, and a center for modern life with international standards.”

Al Habtoor stressed that quality is the foundation of real estate projects in Dubai, stressing that what is offered in the emirate must be worthy of its global reputation and golden status.

Al Habtoor said: “The projects delivered in Dubai must be at a level befitting its name. The issue of quality should never be compromised. The price is not the most important thing, but the reputation, and we must preserve Dubai’s reputation with all our diligence.”

Al Habtoor pointed out that the real estate sector in Dubai is currently witnessing strong growth in demand, pointing out that the average demand and prices for the group’s commercial properties have increased significantly, which reflects the great economic momentum that the emirate is witnessing.


“Metropolitan” remains in Lebanon

The Emirati businessman, founder and Chairman of the Board of Directors of the Al Habtoor Group, Khalaf Ahmed Al Habtoor, confirmed that “Lebanon is still dear to his heart,” pointing to the depth of the relationship that links him with the Lebanese people. He explained that he recently visited Lebanon, where he received a great reception from everyone, praising the hospitality of the Lebanese people and their constant cooperation. He added: “They gave us a great reception, and everyone did not fail in anything. We spoke with a number of officials and I expressed my wish that Lebanon would return to what it was before.” He explained that the Al Habtoor Group owns two hotels in Lebanon, and that it decided to keep conditions as they are at the present time after noticing signs of improvement, saying: “We left things as they were because we felt better,” in response to a question regarding the company’s intention to move the (Metropolitan) Hotel building in Beirut.

He stated that there is positive communication and a better climate that enhances hope that Lebanon will return to its previous prosperity and stability.


Al Habtoor: Syria is a fertile land for investment and we focus on sectors that serve the people

The Emirati businessman, founder and Chairman of the Board of Directors of the Al Habtoor Group, Khalaf Ahmed Al Habtoor, confirmed that “his recent visit to Syria was successful and fruitful,” noting that he felt a great welcome from the Syrian officials and people during his three-day visit, which witnessed the holding of a number of official and economic meetings and discussions.

Al Habtoor said, “Syria is a fertile land and enjoys promising investment opportunities in many fields. However, the group’s interest at this stage is focused on the service and development sectors that directly contribute to creating job opportunities for Syrians and supporting infrastructure, most notably the transportation sector.” He explained that the group is currently studying entering into a number of sectors inside Syria, within the framework of a clear policy focused on supporting the Syrian people and empowering them economically.

He said: “My policy is to focus on the people. We want to invest in projects that provide job opportunities and serve the community, and not just make profits.”

Al Habtoor added that the discussions with the Syrian side dealt with huge projects in cooperation with the government in the fields of transportation and infrastructure, indicating that the terms of cooperation will be easy and long-term.

He continued: “We assured them that the payments could be over the long term, as long as they have the funds. We are not rushing this matter. The important thing is to create job opportunities for Syrians and support development.”

Al Habtoor revealed that there is ongoing cooperation and ongoing consultations on a number of potential projects, including the real estate sector, education (schools and universities), health care (hospitals), in addition to sports facilities, which are sectors that are in line with the Al Habtoor Group’s specializations and its regional and international expertise.

He stressed that the next stage will witness further study and planning to determine investment priorities in Syria, pointing out that the primary goal is to contribute to rebuilding people and infrastructure together. He said: “We look at Syria with an eye of hope, and we believe that real investment is in people first.”

Khalaf Al Habtoor:

• The group achieved a 20% growth in revenues during the current year.

• Dubai enjoys exceptional attractiveness for investors, tourists and businessmen from around the world.

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