UAE: The prominent businessman and well-known figure in the Emirati construction and real estate sectors, Khalaf Al Habtoor, made an astonishing announcement of canceling investments in Lebanon through his Twitter post. Al Habtoor’s founding chairman, explaining the reason for this cancellation, said in his post that existing challenges in stability and security in Lebanon are showing no prospects for improvement in the future.
Telling more about his decision, he further added that he had decided to sell all his property and investments in Lebanon, and no one from his family and his group managers would travel to the country. Concluding the announcement, he said this decision was taken after careful observation and comprehensive study of the current situation in Lebanon and was not made independently.
Lebanon Loses a Major Investor as UAE Billionaire’s Ending Lebanon Investment Plans
In the previous year, the chairman of the Emirati conglomerate, Khalaf Al Habtoor, declared the cancellation of the television channel launch, which he was launching to provide cultural, social, and sporting programs. The plan was aimed at creating 300 new jobs for Lebanese but was pulled off after facing unresolvable difficulties like threats to the Al Habtoor Group’s staff and founder, revealed by the Group. Another big announcement of canceling foreign investments by the UAE billionaire has dragged the economy of Lebanon into danger.
Khalaf Al Habtoor: A Reputed UAE Billionaire & Philanthropist
Apart from his optimistic outlook and great wealth, Al Habtoor is well-known worldwide for his philanthropic activities, efforts, and initiatives to promote peace. Previously, the UAE billionaire has provided help to Lebanese children who were abused through social media apps by offering psychological and physical treatment. He worked together with the nation’s authorities to support the Lebanese victims of The TikTok gang, including children and minors who were sexually assaulted and forced to take drugs, he said in an X post.
Lebanon Agreed on Ceasefire Extension Until February 18
Under the conditions of the Israel-Hezbollah ceasefire, Israel was accused by the Lebanese army of delaying the evacuation of its troops last Saturday. Israel’s PM Benjamin Netanyahu said that the military pullback, in cooperation with the United States, will continue the military pullback over the deadline on Sunday. The incomplete enforcement of the ceasefire agreement by the Lebanese state was explained as the major reason for this extension. As a result, the ceasefire agreement was extended by Lebanon’s consent until February 18.
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