Khalaf Al Habtoor Cancels Lebanon Investments Amid Instability

Khalaf Ahmad Al Habtoor, head of the Dubai-based conglomerate Al Habtoor Group, announced the cancellation of all planned investments in Lebanon due to the country's persistent instability. He also declared intentions to sell all his existing properties and investments in Lebanon and clarified that neither he nor his associates would travel there. Al Habtoor's group is a multi-billion-dollar entity with diverse interests globally, and as of January last year, their investments in Lebanon were valued at approximately $1 billion. This decision by the group follows Al Habtoor's recent expressed willingness to invest contingent on the formation of a new government in Lebanon. The context is further compounded by geopolitical tensions, as a U.S.-brokered ceasefire agreement between Lebanon and Israel sees its extension amidst regional instability.