Al Habtoor draws a line under Lebanon: UAE-based Al Habtoor Group said it will pursue court action against Lebanese authorities over USD 1.7 bn in losses tied to its investments, Reuters reports, citing an emailed statement.

What triggered it: Al Habtoor said its assets suffered “severe and sustained harm” due to measures imposed by Lebanese authorities and Banque du Liban, which it said blocked access to its deposited funds, as well as the failure to impose a formal law on capital controls for banks. A previously mooted large investment was contingent on forming a “strong and independent” government — conditions the group said were unmet. The escalation followed failed attempts to resolve matters amicably.

REMEMBER- This follows a clean exit: The group scrapped planned investments last year, moved to sell its holdings, and shelved projects including a TV channel and a studio city, citing instability and security risks.

In the national context: The threat lands as Lebanon struggles to restore investor confidence after its 2019 financial collapse froze deposits via informal capital controls. The group’s move marks a significant setback to the prospect of a reinjection of Gulf capital into Lebanon — once a key FX lifeline but now largely staying on the sidelines pending IMF-backed reforms.

A regional pivot elsewhere? As uncertainty plagued its plans in Lebanon, the group began exploring Syria. As we reported, Chairman Khalaf Ahmad Al Habtoor was set to visit Damascus in June with a senior delegation to assess cooperation with the Syrian government and investments across multiple sectors. This came amid a growing focus from Emirati players on Syria, including DP World, the National Investment Corporation, and AD Ports.

**DIG DEEPER ON AL HABTOOR- The group had been separately weighing a potential DFM listing of its hospitality arm, Habtoor Hospitality, and a decision was meant to have come before the end oflast year. Last we heard, a dual listing and further spin-offs were in the cards, as it explored expansion into AI and tech. Nothing has been confirmed yet, and IPO plans have surfaced intermittently since 2012.

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