UAE Billionaire Khalaf Al Habtoor Cancels Lebanon Investments

Emirati investor Khalaf Ahmad Al Habtoor shared on social media that he has made the "painful" decision to cancel all investment projects in Lebanon due to the country's ongoing situation, including the "lack of a clear path for improvement in the near future" and ongoing issues with security and stability.

He further stated that he would sell all his existing properties and investments in Lebanon. Additionally, he and his family, along with the group's managers, will avoid traveling to Lebanon.

He explained that these decisions were the result of "careful study and thorough monitoring of the situation" and were not made in isolation.

In June 2024, his Dubai-based Al Habtoor Group had already canceled the launch of a television channel in Lebanon, which was originally planned to offer cultural, social, and sports programs.

The plan, which was expected to create 300 new jobs in Lebanon, was scrapped after facing "insurmountable obstacles," including threats to both the founder and staff, according to the Group.

Al Habtoor, a renowned philanthropist, leads numerous charitable initiatives.

The businessman has previously supported the Lebanese community by providing "psychological and physical treatment" to children who were abused through a social media app.