Font Size

- Aa +

Fri 19 Dec 2014 09:54 AM

Font Size

- Aa +

Al Habtoor chief expects 'momentous year' in 2015

Khalaf Ahmad Al Habtoor tells senior executives that profit forecasts are looking strong for next year

Al Habtoor chief expects 'momentous year' in 2015

Khalaf Ahmad Al Habtoor, chairman of Dubai-based conglomerate Al Habtoor Group, has said 2015 is set to be a "momentous" year for the company, with profit forecasts looking strong.

He also urged senior executives within the company not to become complacent as all company units register growth. 

His comments came during a speech to department leaders from Habtoor Hotels, Al Habtoor Motors, Diamondlease, and Emirates International Schools.

He said that 2015 is forecast to be an "exceptionally strong year throughout the Group and that employees must be ready to grasp potential opportunities".

"There is no time for complacency," the chairman said. "We are an ambitious Group that is demonstrating growth throughout all our units and playing a vital role in the UAE economy. We need to ensure we stay ahead of the game, and be number one in everything we do."

Al Habtoor Group will celebrate its 45th anniversary next year and Al Habtoor said the company is "gaining market share across all our businesses".

"I expect 2015 to be a momentous year. We are setting new benchmarks for ourselves," he added. "We don't just compete within the UAE, but globally. We have adopted international standards and best practice, and have raised the bar for others to follow."

He said: "Profit forecasts look strong for the coming year, and we will be opening our landmark project - Al Habtoor City, while embarking on our new developments.

"Al Habtoor City has great significance as it is located on the site where we first entered the hotel business in 1979 with the Metropolitan hotel. Our new project will be a major landmark for visitors and residents."

Last week, the Al Habtoor Group announced three new projects costing more than AED2 billion. The Group unveiled the Habtoor Polo Club & Resort - which will incorporate a five-star hotel and luxury villas, a polo academy and riding school with 500 stables, adding that work is underway for a new Metropolitan Hotel on Sheikh Zayed Road and Oasis Villas in Jumeirah.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.