Citing lack of security, UAE billionaire abandons Lebanon investments
Emirati businessman had previously said he received threats leading to the cancellation of a planned TV channel launch in Lebanon in 2024
DUBAI — Emirati billionaire Khalaf al-Habtoor said he was withdrawing all investment in Lebanon, citing the country's security situation.
In a post on social media platform X, Habtoor, who is estimated to be worth $3.4 billion, said he made the "painful decision" to pull out of Lebanon due to "the lack of security and stability and any horizon for improvement in the near future."
He said that his Dubai-based conglomerate, which has assets in real estate, leisure and entertainment, would "cancel all investment projects" that it had intended to implement in Lebanon.
Habtoor also said that he, his family and business managers would refrain from traveling to Lebanon and that he intended to sell all of his properties and investments there.
