Al Habtoor group forecasts strong 2016 performance
The Al Habtoor Group is developing Oasis Villas, a residential complex located behind the new Metropolitan on Sheikh Zayed Road
Al Habtoor Group reported a strong performance for the first nine months of 2015 with revenue rising 16% compared to the same period a year earlier.
The value of the company's investments and expansion initiatives in Dubai currently stand at $3.4bn (AED12.5bn).
Chairman Khalaf Ahmad Al Habtoor, said: "Our business model has evolved over the past couple of years. We are a different animal to what we were previously. Our automotive division is expanding rapidly. It recently entered the Saudi Arabian market for the first time with Fuso Trucks. This was a major win for us. In the hospitality sector we have a spectacular portfolio of five-star hotels in Dubai and we are growing internationally.
"We are looking forward to 2016. We have ambitious plans for the future, however, it is not time to be complacent. We are an active player across many sectors and play a key role in the UAE economy. Therefore we need to ensure we have the right teams in place to reach our full potential."
The group reported a jump in revenue at its real estate division of nearly 5% for the first nine months of the year.
Expanding on its real estate business, the Al Habtoor Group is also developing Oasis Villas, a residential complex located behind the new Metropolitan on Sheikh Zayed Road - due for completion in early 2016. The development, in a prime location, consists of 74 villas ranging from four, five and six bedrooms.