search
Front > News

Dubai corp Al Habtoor to open Israel office

Khalad Ahmad Al Habtoor and Shlomi Fogel / Photo: PR
Khalad Ahmad Al Habtoor and Shlomi Fogel / Photo: PR
22 Sep, 2020 12:04
שלח תגובה במיילDubi Ben-Gedalyahu

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
Deflated unicorn credit: Shutterstock Big Tech 50 reports more huge falls in startup valuations

Israeli R&D partnership Big Tech 50 reports that an investment of $2 million in Orcam made in 2021, shrank to just $31,000 at the end of 2024.

NextFerm technologies based on yeast credit: NextFerm Food-tech co NextFerm suspends operations

The company, which produces food ingredients in yeast without genetic engineering, cannot pay its debts and is seeking a buyer.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef OECD sees recovery in growth but high inflation

The OECD Israel Economic Survey 2025 recommends that the Israeli government take several restraining measures, in order to exit the economic storm created by the war.

Dano Ben-Hur credit: Dror Sithakol Statisticians contradict BoI on impact of housing finance deals

The Central Bureau of Statistics insists the impact of 20/80 buy now pay later financing deals on the real estate market and housing prices is minimal.

Governor of the Bank of Israel Amir Yaron credit: Government Press Office Debt fears top Bank of Israel's concerns

Most unusually, Governor of the Bank of Israel Amir Yaron's press conference last week did not focus on inflation and the impending interest rate decision.

US President Donald Trump credit: Reuters/Leah Millis Israel moves to avoid Trump's tariffs axe

Minister of Finance Bezalel Smotrich has signed an order canceling all tariffs on imports from the US. The impact will mostly be on agricultural produce.

Forbes Rich List credit: Shutterstock Maslowski Marcin Wiz founders ranked in Forbes 2025 Rich List

There are a few dozen Israelis listed in the 2025 Forbes Real-Time Billionaires List including Wiz founders Assaf Rappaport, Yinon Costica, Roy Reznik and Ami Luttwak.

SatixFy CEO Nir Barkan credit: Ariel Barkan Canada's MDA Space to buy Israeli satcom co SatixFy

MDA Space will pay $269 million for the Israeli company, including taking on a $76 million debt and a 75% premium on SatixFy's closing price on Nasdaq yesterday.

Raising dollars credit: Shutterstock Israeli startups raised over $1b in March

Israeli privately-held tech companies have raised $2.1 billion in the first three months of 2025, according to IVC-LeumiTech, up 24% from the corresponding quarter of 2024.

Terminal 1 credit: Personal image Terminal 1 reopening revives Israel low-cost fare options

With the opening of the terminal for international flights, the Irish low-cost airline Ryanair has returned to Israel and with it, double-digit US dollar round-trip fares.

Arkady Volozh credit: Shlomi Yosef Analysts see Israel-linked Nebius challenging CoreWeave

Nebius, founded by Yandex founder Arkady Volozh, operates in CoreWeave's AI server market, but is growing "more rationally", and has far less debt.

Bezalel Smotrich and Amir Yaron credit: Knesset Spokesperson and Tali Bogdanovsky Retail chains, credit card cos could soon act as banks

Israel's financial regulators have proposed that supermarket chains, credit card companies and investment houses will be able to accept deposits and offer credit.

Elbit Systems rocket launcher credit: Elbit Systems Elbit Systems wins $130m European rocket order

The order is for the supply of rockets for Elbit's Precise and Universal Launching System (PULS), which has an effective range of up to 300 kilometers.

Nvidia VP Ali Kani credit: Nvidia Nvidia intensifies efforts to compete with Mobileye

"Globes" talks to Nvidia VP and automotive team head Ali Kani about the chipmaker's autonomous vehicle activities and assesses the threat to Mobileye.

Fitch ratings agency credit: Shutterstock Fitch reaffirms Israel's A rating with negative outlook

The ratings agency said, "The negative outlook reflects rising public debt, domestic political and governance challenges and uncertain prospects for the conflict in Gaza."

Tamar rig credit: PR Sovereign Wealth Fund earned handsome returns in 2024

Israel's Sovereign Wealth Fund, known as the Citizens' Fund, had assets worth about $2 billion at the end of 2024, the Ministry of Finance reports.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018