View of the Hilton Habtoor Hotel, renamed Al Habtoor Grand, in Beirut. (Credit: Philippe Hage Boutros/L'Orient Today)
BEIRUT — Head of Dubai conglomerate Al Habtoor Group, Khalaf Ahmad Al Habtoor, announced on Tuesday the cancellation of all planned investments in Lebanon citing the current situation.
"In consultation with Al Habtoor Group's Board of Directors, I made a painful decision that I never wanted to reach, but the current situation in Lebanon, the lack of security and stability and the lack of any prospects for improvement prompted us to ... cancel all the investment projects we were planning to implement in Lebanon," Habtoor posted on X.
In recent weeks, Habtoor, who owns, among other things, two hotels in Beirut, announced that he would be making new investments in Lebanon as soon as a new government is formed. In an interview with the news site Arab News around two weeks ago, Habtoor said that he planned to renovate Habtoor Land, an amusement park he opened in the early 2000s in Jamhour (Baabda) and has since been abandoned, as well as the Habtoor mall, located near his hotel in Beirut, which closed at the onset of the economic crisis in 2019.
The businessman also said that he, his family and the group's directors will refrain from traveling to Lebanon, adding that he will be selling all his properties and investments in the country.
"These decisions were not taken in a vacuum, but rather came as a result of a careful study and deep follow-up of the situation there," he clarified. On Monday, Habtoor criticized the way south Lebanon residents returned to their villages and how supporters of Hezbollah and Amal rode motorcycles in Beirut in a provocative manner.
"What happened in South Lebanon — the random return of people to their homes — led to dozens of casualties from Israeli fire. This tragic scene raises the following question: Who is responsible for this catastrophe? Allowing the 'duo' militias (referring to Hezbollah and the Amal Movement) to lead this return takes us back to a time we had hoped was behind us. We thought the state had begun to regain its role and authority, but the painful reality tells us otherwise", he said.
Israeli fire killed 24 people in south Lebanon on Sunday and at least two on Monday as residents returned to their villages close to the border. This came after the deadline for the withdrawal of Israeli forces from south Lebanon expired on Sunday, but Israel refused to comply. On Sunday night, the White House announced the extension of the cease-fire agreement between Lebanon and Israel until Feb. 18.
"In Beirut, the situation was no better," Habtoor said on Monday. "Yesterday, the streets of the capital witnessed provocative displays by supporters of the 'duo' militias, with motorcycle and car parades, carrying slogans of defiance and insults while raising their flags in a show of force in the middle of neighborhoods. These scenes are reminiscent of attempts to impose a fait accompli by using the street as if they are declaring that the time of chaos is not yet over."
On Sunday night, supporters of Hezbollah and Amal rode motorcycles in Beirut in Christian areas that are generally unfavorable to them, displaying weapons, partisan flags and provocative slogans. They passed through the neighborhoods of Furn al-Shebbak and Ain al-Remmaneh, from Gouraud Street in Gemmayzeh and in Hazmieh, according to videos posted on social media, under the pretext of celebrating the return of displaced residents to south Lebanon.
Known for his hostile positions towards Hezbollah, the Emirati billionaire had given up last June on launching a television channel in Lebanon, citing “security risks,” and did not provide further details.
One of his hotels, where several foreign media outlets occupied rooms converted into offices during the war between Israel and Hezbollah, temporarily closed its doors in 2024, after rumors about a channel close to Hezbollah seeking a room there. The hotel reopened in early November.