Al Habtoor Group Considers public Listing, Focusing on Hospitality Sector
The Al Habtoor Group, one of the UAE’s moast prominent conglomerates, is exploring the possibility of transforming into a public joint stock company. Khalaf Al Habtoor, the group’s founder and chairman, announced this strategic move in a recent post on “X,” stating, “Today I study the seriousness of this step.” The potential listing could mark a notable milestone for the group, which has been a cornerstone of Emirati business since its inception in 1970.A Focus on Hospitality
the Al Habtoor Group is considering listing its hospitality sector, a cornerstone of its global reputation. Al Habtoor emphasized, “We are studying the possibility of transferring part of the group to a public joint stock company, and this part might potentially be the hospitality sector and hotels, it is indeed the interface that bears the name of the Al Habtoor proudly to the world, and reflects the values of authentic Arab and Emirati hospitality.”
The group’s hospitality arm, Al Habtoor hospitality, manages 14 hotels globally, with seven in the UAE and seven abroad. In Dubai, the group operates iconic properties such as the Al habtoor Palace, Hilton Dubai Al habtoor City, and the Waldorf Astoria Dubai palm Jumeirah. Internationally, its portfolio includes the Intercontinental Budapest and the Hilton London Wembley.
A Strategic Decision
Al Habtoor stressed that the group is in the “profound study stage of this decision,in a way that ensures the best value for shareholders and investors,and enhances the position of Emirati companies in global markets.” This move comes amid a booming Dubai real estate market, which has seen house prices rise for 17 consecutive quarters. The group’s diverse portfolio, spanning real estate, education, and automotive sectors, has positioned it as a key player in the region’s economic growth.
This is not the first time the group has considered going public. Four years ago, Al Habtoor explored listing 30 to 35% of its shares but postponed the plans.
Adding Momentum to Dubai’s Financial Market
If the Al Habtoor Group proceeds with the listing, it would join a wave of private companies entering dubai’s financial markets. Recent examples include luxury retailer Spinneys and delivery giant Deliveroo, which raised $2 billion through its IPO. In 2024, middle Eastern companies raised $13 billion from public offerings, marking the region’s second-best year since the pandemic.
Key Highlights of Al Habtoor Group’s Hospitality Sector
| Property | Location |
|———————————-|———————–|
| Al habtoor Palace | Dubai, UAE |
| Hilton Dubai Al Habtoor City | Dubai, UAE |
| Waldorf Astoria Dubai Palm Jumeirah | Dubai, UAE |
| Intercontinental Budapest | Budapest, Hungary |
| Hilton London Wembley | London, UK |
The potential listing of the Al Habtoor Group underscores its commitment to growth and innovation, while also contributing to Dubai’s vision of becoming a global financial hub. As the group continues its deep study of this decision,stakeholders eagerly await the next chapter in its remarkable journey.
