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Al Habtoor is interested in Paris

1 min reading time

Published on 30/01/12 - Updated on 17/03/22

Khalaf Al Habtoor said Al Habtoor Group is eyeing hotel acquisitions in London and Paris, but not the Middle East outside the Gulf region.

Reuters reported on Thursdy that Khalaf Al Habtoor (who runs one of the UAE's biggest family businesses with a portfolio spanning hospitality, construction, education and automotive operations) said the group was scouting for purchases in the European cities.Reuters quotes Khalaf Al Habtoor in the Dubai headquartes: "We invested in the UK and we are happy about it. If there are opportunities in London and Paris, I won't hesitate to go there."Reuters continues to say that Al Habtoor (ranked among the world's 500 richest people by Forbes) bought a 2 percent stake in UK lender Barclays Bank Plc in 2008 and sold it in late 2010 at a loss. He has no plans to acquire stakes in European or US banks.Al Habtoor said the group also has no intention of investing in Arab countries outside the Gulf Cooperation Council states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, according to Reuters."It is wrong to invest in countries where there are no laws and regulation, no transparency and no protection. And that's the Arab world," said Al Habtoor. "We will only invest in the UAE and other GCC countries of course," he said.

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