Dubai corp Al Habtoor to open Israel office

Khalad Ahmad Al Habtoor and Shlomi Fogel  / Photo: PR

The real estate and hotel corporation is also in talks with Israir to open a Tel Aviv - Dubai route.

The real estate and hotel corporation is also in talks with Israir to open a Tel Aviv - Dubai route. Dubai-based corporation Al Habtoor is to open an office in Israel. The privately-held company has assets in the real estate, hotel and aviation sectors worth an estimated $8.5 billion. The announcement that Al Habtoor is opening an Israeli office followed the visit of businessman Shlomi Fogel co-owner and chairman of Israeli real estate company Ampa Group to the UAE last week. Fogel was accompanied by senior executives from Ampa including the group's agricultural unit. Fogel is also a major shareholder in Israel Shipyards whose cement division head was also in the UAE.

Following the meetings, Al Habtoor founder and chairman Khalad Ahmad Al Habtoor said, "I have been looking forward to this day for a very long time. I have always believed that Emiratis and Israelis have a lot in common. Both peoples are business-oriented and have relied on human talent and ambition more than their countries’ natural resources to build robust, innovative economies. The opportunities that this deal will present are great for both sides. I am confident this will open up new doors and lead to stronger economies, and closer cultural ties between the peoples."

Fogel said, "Through successful business collaboration and trade, peace will be cemented. Together with our Emirati counterparts, we will show the way to live in peace to the rest of the world."

Sources close to the matter in Israel believe that the opening of the Al Habtoor office in Israel will pave the way for joint projects between Ampa and Al Habtoor in real estate and hotels. Al Habtoor is also in talks with Israir about the opening of scheduled flights between Tel Aviv and Dubai.

Al Habtoor owns top hotels in the UAE including the Waldorf Astoria and Hilton Palace in Dubai.

Ampa declined to comment about potential cooperation between it and Al Habtoor.

Published by Globes, Israel business news - en.globes.co.il - on September 21, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Khalad Ahmad Al Habtoor and Shlomi Fogel  / Photo: PR
Khalad Ahmad Al Habtoor and Shlomi Fogel / Photo: PR
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