Issue 141 (May - June)

p. 27 Initial Public Offering (IPO) is still under consideration. “The idea of taking the Al Habtoor Group public remains a possibility in the future,” he said. “Maybe after 2020 we will consider it again.” [‘Al Habtoor Group and consideration of future IPO’ starting min 38:46] He said he is very happy with his investments in Hungary where he owns two hotels and two commercial buildings, including The Ritz- Carlton Budapest and The InterContinental Budapest. [‘Al Habtoor Group and foreign investment’ starting min 30:46] When asked about Saudi Arabia’s plans to boost tourism and how the Kingdom’s 2030 vision could impact the UAE Al Habtoor said, “We are happy for Saudi Arabia to expand. I wish them the best of luck. I think the young leadership is doing a great job,” He added, “The UAE is different to Saudi Arabia. We have had the foundations in place for a long time thanks to our fathers and forefathers, and our visionary leaders. I think it will take a long time for Saudi Arabia to build their vision, so there will be no negative impact on the Emirates.” [‘On reform in Saudi Arabia’ starting min 02:18] His Excellency Ali Abdullah Al Ahmad, Ambassador of the UAE to Germany highlighted that the UAE is witnessing record numbers of tourists. “Last year the UAE welcomed 21 million tourists. Almost two-third went to Dubai.” He added, “German tourists were about 750,000. It is a fast-growing destination and the good news is that many of those tourists are repeat visitors.” [‘On growth of the tourism sector in the UAE’ starting min 23:25] Al Habtoor invited the attending media to come to Dubai to see it with their own eyes, and not base their information on hearsay. He highlighted that the UAE is an advanced country that is always evolving, particularly Dubai. He said that tourists have so many options to choose from. He used the example of the city’s burgeoning arts and cultural scene. “It is not just about nice hotels and beaches. The UAE is full of culture. We have expanded The Arts in recent years… we have museums, world-class theatre, and the Opera.” [‘On Dubai’s as a global entertainment and leisure destination’ starting min 1:00:23] On the topic of terrorism, Al Habtoor emphasized that Iran is the biggest threat to the world today. “Iran is supporting terrorism all over the world. It controls Iraq, Lebanon, Syria and Yemen. Four countries. This is a gift from the Americans, Mr. Obama and George W Bush. Iraq, the cradle of civilization, has been gifted unfortunately and given to people who are pro-Iranian who are ruling the country.” WE ARE TAKING TIME TO BREATHE IN THE UAE TO FINISH OUR EXISTING PROJECTS. I AM ALWAYS OPEN TO INVESTMENT OPPORTUNITIES ABROAD.