UAE business groups optimistic regarding Lebanon real estate investments
Leading UAE business groups which have significant investments in Lebanon are cautiously optimistic about the ceasefire and the prospects of resuming their projects in Lebanon, Khaleej Times has reported.
UAE companies have investments in excess of Dh10 billion committed in various projects in Lebanon With about 85 per cent of UAE investment (Dh8.5 billion) in the real estate sector. In addition, there are a large number of private investors who own real estate and financial assets in Lebanon.
The major real estate investments include the Dh2.3 billion investment by Abu Dhabi Investment House, Dh1.83 billion by the Dubai-based Al Habtoor Group and about Dh1 billion exposure of Dubai Islamic Bank in three Beirut real estate projects through Deyar, its real estate subsidiary. Other leading firms with investments in Lebanon include names such as Emaar, Damac and Al Futtaim Group.
The month-long war and the huge damage to Lebanon's infrastructure have led to a certain amount of uncertainty about the future of many of these investments.
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