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Thursday, May 23, 2024

Chairman considers Egypt Investment

by The Media Office

Khalaf Al Habtoor and Management Team with Mervat Ali Hataba
Al Habtoor Group Management with NBE officials

Khalaf Ahmad Al Habtoor held a series of meetings focusing on potential investments in Egypt.

Khalaf Ahmad Al Habtoor, Chairman, Al Habtoor Group held talks with Mervat Ali Hataba, Chairman, Ministry of Investment, Holding Company for Tourism, Hotels & Cinema (HOTAC) at the Al Habtoor Group head office on Monday May 4, 2015. Ms Hataba was accompanied by Amr Attia Ahmed, Investment Principal, Ministry of Investment, HOTAC and Samir Hassan Soliman, Board Chairman & Managing Director, Egyptian General Co for Tourism & Hotels (EGOTH).

HOTAC encourages investment in Egypt in the tourism, hospitality and entertainment sectors. Some of its properties include historic hotels like Mena House Oberoi Hotel, Winter Palace Hotel in Luxor, The Nile Ritz-Carlton Hotel, and several others.

Al Habtoor recently announced that he is considering investment opportunities in Egypt in the hospitality and entertainment sector, with a particular focus on Cairo. Ms Habata informed him about potential opportunities and future collaboration.

Al Habtoor said he would like to focus his attention on Cairo, adding that he would like to see the Egyptian government adopt more flexible rules for foreign investors.

The Chairman also welcomed senior officials from the National Bank of Egypt to discuss investments in the country. Al Haythan El Kobbrosly, Deputy General Manager, Investments & Investment Trustees Group, National Bank of Egypt; Tarek M. El-Ghazaly, Chief Representative, Representative Office, UAE, National Bank of Egypt and Mohamed Seif-Elnasr, Chairman, NBE (DIFC) Limited - a fully-owned subsidiary of NBE met the Al Habtoor Group Chairman in his office on Monday May 4, 2015. They briefed him about potential investment opportunities in Egypt and informed him about how the bank could assist.

Al Habtoor said he was encouraged by the Egypt Economic Development Conference (EEDC) which took place in Sharm El Sheikh earlier in the year. “I would like to send a positive sign to foreign investors about Egypt,” he said. “The Arab world recently pledged billions of dollars, particularly the GCC, to help Egypt get back up on its feet. The Egyptian people have suffered enough in recent years, ” he said. “It is time to return the country to its former glory. If investors see a large-scale investment from the Al Habtoor Group, they will be further encouraged.”

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