Al Habtoor Group Expands Investment Strategy into Central Europe

Dubai, United Arab Emirates: Khalaf Al Habtoor announced in a Facebook post on Monday that the group will soon establish a regional office in Budapest, Hungary, as part of this initiative, with new projects set to be unveiled at a later stage.

Al Habtoor disclosed the expansion plans shortly after announcing that the group had appointed US law firm White & Case to represent it in an arbitration case against Lebanon, which he has accused of causing significant losses to the group’s investments in the country.

Earlier this month, Al Habtoor also stated that he would liquidate his more than $1 billion investments in Lebanon amid the ongoing crisis, and would instead direct new project focus toward neighbouring Syria.

“Following the announcement of preparations for the opening of the Habtoor research centre in Budapest, I am pleased that we are also preparing to open a regional office in Hungary,” the chairman said in his post.

“This office will serve as a platform for managing and expanding our operations in Hungary and neighboring countries in Central Europe.”

He said the group’s decision to expand investments in Central Europe was made after an “in-depth study and a clear vision.”

Hungary, and Budapest in particular, has proven to be a stable environment, open to investment, and treats investors as partners, not mere guests, he said.

“We are not looking for short-term opportunities, but rather sustainable partnerships built on mutual trust and legal stability. Hungary has set a shining example in how to embrace investment and foster trust,” Al-Habtoor said.

“Today, we are preparing to launch projects soon, as part of a well-considered expansion plan. Other projects will follow, to be announced in due course…. Central Europe represents a new phase of growth for us, and Hungary will be a key pillar in this journey,” he added.