Al Habtoor Sets Dubai Financial Market for Public Offering of Hotel Portfolio
In a strategic move aimed at enhancing economic growth, Khalaf bin Ahmed Al Habtoor, founder and chairman of the Al Habtoor Group, announced the group’s intention to launch its hotel portfolio for a public offering on the Dubai Financial Market. This initiative marks a new beginning in boosting investment participation and strengthening the local economy, with the potential for expanding the offering to other markets in the future.
Details of the Upcoming Offering
Al Habtoor confirmed in statements to “Emirates Today” that the offering will not include all of the group’s assets but will focus on its hotel division currently operating in the hospitality sector. He also clarified that the group comprises units in various fields such as education, vehicles, and real estate. The focus will be on the group’s hotels in the UAE, particularly in Dubai.
Goals and Motivations Behind the Offering
When asked about the reasons that prompted the group to take this step, Al Habtoor explained: “The question we asked was: What can we, as the Al Habtoor Group, offer to Emirati youth so they can benefit from this investment?” He confirmed that a specific priority segment will be allocated for youth before the offering.
Offering Timeline and Future Expectations
Regarding the timeline for the offering, Al Habtoor indicated that a formal decision will be made after the summer season, with details to be announced later. He confirmed via the “X” platform that the Al Habtoor Group is thoroughly studying the possibility of launching its hotel portfolio for a public offering, as a preliminary step that could lead to the offering of its other sectors later on.
Group’s Vision for the Future
After more than 55 years of continuous work, Al Habtoor expressed pride in the progress the group has achieved, noting that its investments have positively impacted the urban and economic development of the UAE. He added: “We do not need an introduction or proof of strength. However, we believe that involving citizens and investors in this journey is a natural extension of our approach to transparency, trust, and sustainable investment.” Thus, Al Habtoor expresses his strong belief in the economic future of the country and his vision for expansion both within and beyond the local market.
The Al Habtoor Group’s hotel portfolio includes 14 hotels, reflecting the group’s strength in the hospitality sector. This initiative is expected to be a landmark in the history of the Al Habtoor Group, paving the way for more investment opportunities for investors and community members.