The chairman of the UAE-based Al Habtoor Group has met with key officials from Egypt’s largest state-run bank, the National bank of Egypt, to discuss investments in the North African country.
Khalaf Ahmad Al Habtoor and the NBE officials talked about potential investment opportunities in Egypt and how the bank could assist.
The UAE-based business conglomerate, which is best known for construction, is globally recognised through its involvement in the hotel, automotive, real estate, education and publishing sectors.
Al Habtoor said he was encouraged by the Egypt Economic Development Conference (EEDC), which took place in Sharm El Sheikh earlier in the year.
“I would like to send a positive sign to foreign investors about Egypt,” he said.
“The Arab world recently pledged billions of dollars, particularly the GCC, to help Egypt get back up on its feet. The Egyptian people have suffered enough in recent years,” he said.
“It is time to return the country to its former glory. If investors see a large-scale investment from the Al Habtoor Group, they will be further encouraged.”
The Chairman said he wants to concentrate on investments in Cairo within the hospitality sector as well as focus on philanthropic endeavours – particularly education. “I am collaborating with educational institutions in Egypt,” he said.
Attended the meeting, the UAE businessman had met with Al Haythan El Kobbrosly, Deputy General Manager for Investments & Investment Trustees Group at NBE, and Mohamed Seif-Elnasr, Chairman of NBE (DIFC) Limited – a fully-owned subsidiary of NBE.
Also present at the meeting was Mohammed Al Habtoor, Vice-Chairman & CEO at Al Habtoor Group; KP Rajan, Group Financial Advisor; Sunderesh Iyer, Director of Operations & Development; Jerry Morgan, Advisor to the Chairman; and Ahmed Al Otaiba, Director-Member of the Board.
