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Emirati billionaire announces readiness to launch major projects in Egypt

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Emirati billionaire Khalaf Ahmed Al Habtoor, founder and chairman of Al Habtoor Group and chairman of the Dubai National Insurance and Reinsurance Company, announced his presence in Egypt to announce major projects.

We spend time in the republic #Egypt Sister Arabia, during which we are preparing studies for some sites in #Cairo In preparation for the announcement of projects soon, God willing.
My love for Egypt is rooted in my ribs and I hope to expand our presence there and provide more job opportunities for Egyptian youth.

— Khalaf Ahmad Al Habtoor (@KhalafAlHabtoor) February 2, 2023

Al Habtoor wrote via his official Twitter account: “We are spending a period in the sister Arab Republic of Egypt during which we are preparing studies for some locations in Cairo in preparation for an early announcement of projects, God willing.

And the Emirati billionaire continued: My love for Egypt is rooted in my ribs and I hope to expand our presence there and provide more job opportunities for Egyptian youth.

According to media reports, Al Habtoor is one of the most famous businessmen in the UAE and the Arab world with a fortune of $6.5 billion.

Al Habtoor began his career as an employee of a local construction company in the Emirates and then founded his own company in 1970, then called Al Habtoor Engineering Projects, at a time of radical change in the region. The Federation of the United Arab Emirates was created in 1971, and for the first time seven emirates united under one banner. This change inspired a series of pilot projects, all of which were resoundingly successful.

The group started in 1970 as a small engineering firm and today is one of the region’s most respected conglomerates in the hospitality, automotive, real estate, education and publishing industries. The group continues to grow, employing thousands of people.

Source: Cairo 24

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