UAE billionaire Habtoor cancels investments in Lebanon

Emirati billionaire Khalaf Al Habtoor announced the cancellation of all investment projects his group had planned to implement in Lebanon. He also stated that neither he, his family, nor his company’s executives would travel to the country. Additionally, he revealed his decision to sell all his properties and investments in Lebanon.

In a Facebook post, Al Habtoor described the move as a painful decision he had never wanted to make. He attributed it to the lack of security and stability in Lebanon and the absence of any foreseeable improvement.

Attribution: Amwal Al Ghad English