Dubai conglomerate to focus on its 100% owned assets, according to TV report
The chairman of the UAE’s Al Habtoor Group has said the family-owned conglomerate plans to sell its stake in the construction joint venture Habtoor Leighton Group, as it looks to focus on its core businesses.
In an interview with the Arabic TV-news network Al Arabiya, Khalaf Al Habtoor said that several international and regional companies were interested in buying out the stake in the venture. HLG’s co-owner is the Australian construction firm, CIMIC Group.
He reportedly said that Habtoor Group will focus on its 100% owned assets, including hotels, real estate and schools.
According to its website, Habtoor Leighton Group employs more than 21,000 people across its operations in the GCC, which include the UAE, Oman, Iraq, Qatar and Saudi Arabia. HLG declined to comment when contacted by MEConstructionNews.com.