The Chairman of the Al Habtoor Group, Khalaf Ahmad Al Habtoor welcomed Tarek M. El-Ghazaly to his office on Al Wasl Road on Wednesday March 11, 2015. El-Ghazaly is the Chief Representative – Representative Office (UAE) at the National Bank of Egypt.
El-Ghazaly visited Al Habtoor to pass on regards from Hisham Okasha, Chairman of the National Bank of Egypt and Mahmoud Montasser, Deputy Chairman. He also presented the Chairman with a limited edition book which was commissioned in 1998 to commemorate the centennial anniversary of the National Bank of Egypt, which was founded in 1898.
Earlier in the month Al Habtoor met Montasser and El-Ghazaly in Egypt to discuss the Group’s investment opportunities in the country and to look at ways the bank could participate. Both Montasser and El-Ghazaly visited Al Habtoor at his hotel.
They recognised the importance of such an investment by one of the biggest and most respected family groups in the GCC. El-Ghazaly told Al Habtoor that the bank is keen to help secure key investment opportunities in Egypt with an emphasis on the capital Cairo.
Al Habtoor recently announced that he is considering large-scale investments in Egypt, similar to the Al Habtoor City mega-development currently under construction in Dubai. He said he is also looking at potential tie-ups in the auto industry.
“We are in the process of conducting feasibility studies in the real estate, hospitality and auto sectors. If good opportunities present themselves then we will jump on them,” he said. “This will not only be a boost to the Egyptian economy, and provide jobs for many Egyptians, but it will also send out a message that Egypt is ripe for investment.”
Al Habtoor City is a multi-use development incorporating three five star hotels (St. Regis, W hotel, Westin), three high-rise luxury residential towers complete with 11 ultra-luxury penthouse apartments, multiple restaurants, bars and shops, and a specially choreographed water-themed Franco Dragone Entertainment Group theatrical production.