Chairman of Dubai’s Al Habtoor Group Khalaf Al Habtoor told the Arabian Hotel Investment Conference (AHIC) in Dubai’s Madinat Jumeirah today that he did not expect there will be problems in finding the finance Dubai needs for projects to be completed for the World Expo which opens in October 2020.
He also said that he expected the strong levels of growth forecast in Dubai in the years to 2020 will continue after the Expo ends.
Al Habtoor was the winner of the AHIC 2013 Leadership Award. He told AHIC that Al Habtoor City, the Al Habtoor Group’s largest ever investment which is due for completion in 2016, will comprise three hotels and the region’s first waterside theatre. The Al Habtoor Group opened the region’s first Waldor Astoria on the Palm Jumeirah in 2013.
Al Habtoor said that he believes that local and international banks are prepared to finance projects Dubai needs to complete in time for the World Expo. This includes a major expansion in hotel and hospitality assets.
Al Habtoor said that he did not expect a significant slowdown in Dubai’s growth after the Expo ends in April 2001. “Growth will continue for at least 15 years from now,” Al Habtoor said.
AHIC is organised by Bench Events and MEED.