Habtoor, Emaar eye Belarus projects
Dubai, November 27, 2012
UAE-based conglomerate Al Habtoor Group said it is in talks with leading property developer Emaar Properties for setting up possible joint ventures in the eastern European state of Belarus.
Senior executives from Emaar Properties led by its managing director Ahmad Thani Al Matrooshi came to the Al Habtoor Group head office and met Khalaf Ahmad Al Habtoor, the chairman of Al Habtoor Group.
The meeting comes after Al Habtoor spent four days in Belarus in mid-October to look at potential investment opportunities there. He was there in capital Minsk on a personal invitation from Prime Minister of Belarus Mikhail Myasnikovich during his UAE visit early this year.
The two officials discussed possible investment opportunities at the meeting held in the presence of Mohammed Al Habtoor, the vice-chairman and CEO; Mohammed Fadhel Al Mazrooei, the managing director; Maan Halabi, the executive director and Sanjeev Agarwala, the director strategy & Business Development.
Al Habtoor had held several meeting with Belarus’ senior officials, including Viktor Lukashenko, the 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 during the meeting.
Al Habtoor Group and Emaar officials later discussed possible investment in Belarus and also reached an agreement to set up a joint team to personally travel to Minsk for studying the investment opportunities there at the earliest.
The team will focus on possible collaboration in multi-purpose complexes and hospitality facilities in the country.
Commenting on the talks, Al Mazrooei said, “We will jointly study projects in Belarus. Emaar has a proven track record in the UAE and international markets. We have many synergies. 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 cooperation, especially in the areas of trade and investment, as well as boosting of partnerships between the private sectors of the two countries and setting up of joint projects in promising sectors.
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.-TradeArabia News Service