Nasr discusses potential investments with UAE’s Habtoor

CAIRO – 15 November 2017: Minister of Investment Sahar Nasr discussed Wednesday with chairman of Al-Habtoor Group, Khalaf al-Habtoor, the latest developments in Egypt’s economy and the New Investment Law.

During her visit to the group’s premises in the UAE, Nasr discussed increasing Emirati investments in Egypt in the next period, a statement from the Ministry of Investment read.

Habtoor said he is studying new projects in Egypt, inviting Nasr to visit one of the UAE’s biggest development projects; Al-Habtoor City, which lies at the heart of Dubai.

Habtoor has always been giving attention to Egypt. In December 2015, the billionaire offered to build a mixed-use development project in Cairo, similar to Al-Habtoor City in Dubai, with a total value of $8.5 billion in investment.

In May 2017, Habtoor was also reported to have purchased a huge palace in Heliopolis, which was reported to might have been the start of a new project in Cairo’s district.

Proving his interest in Egypt, Habtoor posted in September a video on his Instagram account, of himself with his friends during their vacation in one of Egypt’s North Coast resorts.

The UAE national is a renowned businessman who ranks #335 on the list of the world’s richest 500 people on Forbes.com, with a net worth of $2.3 billion.