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UAE's Khalaf Al Habtoor Cancels Investments in Lebanon

  • Publish date: Wednesday، 29 January 2025
UAE's Khalaf Al Habtoor Cancels Investments in Lebanon

UAE-based businessman Khalaf Al Habtoor has cancelled all planned investments in Lebanon only a few days after announcing an investment in a large-scale project in the country. 

The chairman of a UAE-based conglomerate Al Habtoor Group explained on X that he will cancel investments "due to lack of security and stability and the lack of any horizon for improvement in the near future”.

Al Habtoor also plans to sell all his properties and investments in Lebanon. He emphasized that he, his family, and his group's managers will refrain from travelling to the country. 

In his statement on X, Al Habtoor also said, "These decisions were not taken in a vacuum, but rather came as a result of careful study and in-depth monitoring of the situation there."

According to a World Bank report in November, the conflict with Israel led the Lebanese economy to deteriorate further, with physical damages and economic losses amounting to an estimated $8.5 billion.

On Monday, Jan. 27, the Lebanese government had agreed to a three-week extension of a ceasefire agreement between Israel and Hezbollah. 

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