Al Habtoor Group Chairman, Khalaf Ahmad Al Habtoor received today Hassan Nawaz Sharif in his office on Al Wasl Road. Mr. Sharif, a London-based businessman, is the son of the newly-elected Prime Minister of Pakistan, Nawaz Sharif. Sharif, who was previously elected Prime Minister in 1990 and again in 1997, took office in early June following an election in May this year.
The visit by Hassan Nawaz Sharif was a courtesy call after the two men met last month in London, UK. Mr. Sharif carried a personal invitation from his father, the Prime Minister of Pakistan, inviting Mr. Al Habtoor to visit Pakistan after Ramadan. Also present was Paul Rayner, Advisor to the Chairman. They discussed the improved economic situation in the United Arab Emirates (UAE). Al Habtoor said, “The UAE is witnessing an economic revival. Business is booming again. It is a stark contrast to what is going on in Europe. The UAE is a safe haven for investors and for anyone wanting to set up a business.”
His comments follow a report on the UAE from the International Monetary Fund (IMF) predicting GDP growth to reach 3.6 per cent this year, 3.7 per cent next year and 3.8 per cent in 2015. That’s on the back of rising oil prices as well as non-oil activities backed by investments, trade and tourism.
Al Habtoor added, “The UAE is an ideal destination for tourism and investment. There are lots of exciting new projects underway by the government and the private sector.”
The Al Habtoor Group is currently developing a large-scale project on Sheikh Zayed Road to include three 5-star hotels on one plot; a WESTIN, a W hotel and a St. Regis. In addition, it is developing a Waldorf Astoria hotel on the Palm Jumeirah. Both projects are due to open within the next couple of years.