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Al Habtoor says has 'trust' in UAE over major investments

One of the Dubai’s most prominent businessmen has reiterated his faith in the UAE, he says, continues to give him confidence to invest in the country.

Khalaf Al Habtoor, chairman of the Al Habtoor Group conglomerate, said in a speech to the FT Family Business Summit that his company is working with the government to maximise investments.

“I have trust in the country. I have trust in this country to invest because of the security and transparency,” he said.

His comments come as The Al Habtoor Group invests in several projects including Al Habtoor City which feature three hotels and the most advanced water theatre in the world.

It also includes three residential towers with about 1,500 apartments, including penthouses and represents a multi-billion dirham investment.

The company has also just finished the new Metropolitan Hotel Dubai, and is close to finishing the Al Habtoor Polo Resort & Club, the first St Regis polo resort in the world.  

He added in his speech: “We are working parallel to our government because us, as the owners of the group, and any investors or businessmen cannot do what we do without our government. We work hand-in-hand with our government here.

“And the government needs us, they need us to work together. Without us and without them, we cannot achieve anything. We have to put our hands together and work to deliver the fruit, the results of our hard work and our planning. Coordination is important and thanks God everything is going well.”

Al Habtoor also raised the issue of poverty alleviation around the world, saying he is determined to find a solution.

“Poverty alleviation in my opinion is of priority to the world. We can tackle poverty alleviation by putting our heads together and talking about it. It doesn’t matter if we fail once or twice we should not give up. We should continue knocking on the door of others to meet and discuss ways to help.

“And I am ready personally to fly anywhere in the world to attend round table meetings or conferences in order to take a decision.”

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