Al Habtoor, Emaar plan investments in Belarus

The Al Habtoor Group and Emaar are in talks to collaborate on investments in Belarus. Senior executives from both Dubai conglomerates on Tuesday discussed investment opportunities in the eastern European country at the Al Habtoor Group head office on Al Wasel Road. Ahmad Thani Al Matrooshi, MD, Emaar Properties came to meet with Khalaf Ahmad Al Habtoor, Chairman, Al Habtoor Group. Present at the meeting were Mohammed Al Habtoor, Vice-Chairman and CEO; Mohammed Fadhel Al Mazrooei, Managing Director; Maan Halabi, Executive Director and Sanjeev Agarwala, Director Strategy & Business Development. The meeting comes after Al Habtoor spent four days in Belarus in mid-October to look at potential investment opportunities there. Al Habtoor was invited to the capital Minsk on invitation from the Prime Minister of Belarus Mikhail Myasnikovich who had visited the UAE earlier in the year. The Al Habtoor Group and Emaar discussed possible joint ventures in Belarus and agreed that a joint team from both groups would travel to Minsk to study opportunities as early as possible. They will focus on possible collaboration in multi-purpose complexes and hospitality facilities in the country. Mohammed Fadhel Al Mazrooei said: “We will jointly study projects in Belarus. Emaar has a proven track record in the UAE and international markets. A combination of the Al Habtoor Group and Emaar will make a very strong team.” In recent months the UAE and Belarus have been bolstering bilateral co-operation, especially in the areas of trade and investment. The UAE recently sent a delegation to the 7th Belarus Investment Forum led by Engineer Mohammad Ahmad Bin Abdul Aziz Al Shehi, undersecretary of the Ministry of Economy. Al Habtoor has held several meeting with Belarus’ senior officials, including Viktor Lukashenko, Assistant to the Belarus President for National Security Affairs, earlier this month. “Belarus is a beautiful country, full of business opportunities. I was very impressed following my visit there,” he said.