As part of efforts to sustain Lebanon’s economic momentum and recognize Saudi Arabia’s contributions, Al-Khabeer Capital, one of the leading Shari-compliant firm in KSA and the region met with the Lebanese President Michel Suleiman recently to discuss its key investment prospects and the company’s development plans in the Middle East, particularly its capitalization agenda for Lebanon.
Investments from the Kingdom of Saudi Arabia will play a key role in Lebanon’s goal of attaining a 7 per cent increase in its Gross Domestic Product in 2009. Saudi Arabia is Lebanon’s biggest external investor, accounting for more than 60 per cent of the country’s foreign investments. Foreign Direct Investments (FDI) into Lebanon reached USD3.6 billion in 2008, representing a 32 per cent increase from the previous year and comprising mostly Saudi investments.
Among Al-Khabeer Capital’s officials present during the meeting were Mr. Saleh Binladen, Chairman of the board of Directors; Mr .Abdullah Binzagr, Board Member and Chairman of the Executive Committee; Mr. Ammar Shata, Executive Director; and Mr. William George, Managing Director-Investment Banking.
Al-Khabeer delegation informed the President about the core businesses of Saudi-based Al- Khabeer Capital. Both parties discussed various domestic investment prospects including Al-Khabeer’s portfolio and market expansion targets for the Middle East.
Mr. Ammar Shata, Executive Director of Al-Khabeer Capital commented "Lebanon is considered one of the region’s success stories for 2009. The country has been able to outperform several Arab economies due to its sound banking, financial policies and expand growth industries such as tourism and real estate, which makes it a very promising location for future project funding”.
He added: "Al-Khabeer’s business model is built around innovation and excellence in the creation of products intended mainly for niche markets and Lebanon’s economy has been able to thrive amidst the global downturn, driven by a steady increase in FDI, increased bank deposits, expanding tourist sector and major real estate developments. Al-Khabeer Capital focuses mainly on middle market businesses, family offices and organizations in the development phase of their life cycles and we believe in the potential of this country and will help identify local investment opportunities which best fit Al-Khabeer’s business profile.”
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