Al Habtoor Group (AHG) has announced its plans to open an office in Budapest, Hungary.
The group stated the opening will help expand its European operations, scout for new investments, and reach more European markets across a number of sections.
The group’s eponymous founder, Khalaf Ahmad Al Habtoor believes the European market is a sound investment for the group, hailing its ease of doing business, risk-to-reward ratios and strong economies.
Al Habtoor said: “I am delighted to announce our expanding presence in Europe, with the upcoming new regional office in Budapest. We have been very successful with our hotels and commercial properties here — which are prime and heritage assets — and look forward to upscaling our operations with other investments in the future. The less-explored markets in Europe are now gaining momentum, offering a competitive edge, an attractive investment climate and higher yield possibilities for foreign players.”
The conglomerate works across a number of industries, including real estate, education and hospitality. The group’s hospitality division currently has a portfolio of 14 hotels, seven of which are in Dubai. These include the Habtoor Grand Resort, Waldorf Astoria Dubai Palm Jumeirah, Habtoor Palace, LXR Hotels & Resorts, V Hotel, Curio Collection by Hilton, Hilton Dubai Al Habtoor City, Metropolitan Hotel Dubai and Al Habtoor Polo Resort.The news comes shortly after Al Habtoor met with an Egyptian parliamentarian to look into possible investment in the Middle Eastern country.