Khalaf Al Habtoor, the founder and chairman of the Al Habtoor Group, revealed plans for the company to consider a public offering of its hotel portfolio on the Dubai Financial Market. This would serve as an initial step towards potential external listings, with other sectors of the group following suit in the future.
Al Habtoor noted that the offering would not encompass the entire portfolio of the group, but rather focus on the hotel division currently operating within the hospitality sector. He further mentioned that the group has ventures in various industries, including hotels, education, automotive, real estate, and insurance across Dubai, the Middle East, Europe, and even America.
He stated: “After over fifty-five years of continuous operation, I am pleased to share that we are seriously considering the possibility of listing our distinguished hotel portfolio on the UAE market as a starting point, with the intention of possibly expanding to our other sectors later on.”
He added, “We do not need to define ourselves or prove our strength. However, we believe that involving citizens and investors in this journey is a natural extension of our commitment to transparency, trust, and sustainable investment.”
Al Habtoor continued: “We want to provide opportunities for our youth and anyone seeking to invest in an established entity that has elevated the reputation of the UAE globally. This anticipated move will be a well-considered action stemming from our confidence in the local market and the future of the national economy, as well as our promising expansion prospects both domestically and internationally.”