Contrary to his announcement last week... Khalaf Al Habtoor halts investments plan in Lebanon

Citing security and stability issues

Emirati businessman Khalaf Ahmad Al Habtoor announced the cancellation of all investment projects he intended to implement in Lebanon.

In a statement posted on his X account, he wrote, "After consulting with the board of directors of the Al Habtoor Group, I have made a painful decision I never wanted to reach."

"However, the current situation in Lebanon, with its lack of security and stability and no prospect for improvement in the near future, has led us to take the following steps: Canceling all the investment projects we intended to implement in Lebanon, refraining from traveling to Lebanon, selling all my properties and investments in Lebanon," he noted.

He added, "These decisions were not made hastily but are the result of careful analysis and thorough monitoring of the situation there."

This came contrary to what he announced last week, where he stated his intention to invest in Lebanon after the formation of the government.