Al Habtoor Group on Thursday (April 9) announced a landmark investment exceeding AED5 billion ($1.36 billion) in Dubai’s real estate sector, underlining its confidence in the emirate’s investment outlook.

The investment will fund the development of a new commercial tower in Al Habtoor City, the group’s flagship mixed-use destination located on Sheikh Zayed Road, one of Dubai’s main business corridors.

According to the group, the tower will be built to international premium construction standards and is expected to become a new addition to Dubai’s expanding skyline, strengthening the city’s position as a global centre for real estate, commerce and urban development.

Al Habtoor City is one of Dubai’s most prominent integrated destinations, bringing together luxury living, world-class hospitality, and a rich mix of entertainment and cultural offerings within a fully developed urban environment that reflects the emirate’s modern lifestyle.

The company said this project is the first in a broader pipeline of real estate developments planned across Dubai and Abu Dhabi, forming part of its long-term expansion strategy in the UAE.

In a recorded announcement, Khalaf Ahmad Al Habtoor, Founding Chairman of Al Habtoor Group, said the decision reflects strong confidence in the UAE investment climate.

“Our decision to move forward with this investment reflects our deep confidence in the UAE and in Dubai in particular,” he said.

“We are fortunate to live and invest in a country that enjoys security, stability, and a strong and resilient economy. These are the foundations that guide our investment decisions. The UAE continues to provide an environment where businesses can grow, investments can flourish, and people can live with confidence and peace of mind.”

The group said the latest investment supports Dubai’s economic development goals and reinforces the emirate’s role as a global hub for business, tourism and high-value real estate investment. - TradeArabia News Service