Emirati tycoon plans multimillion-dollar Saudi leisure project

 

A word often used to describe Khalaf Al-Habtoor — founder and chairman of Al-Habtoor Group, and one of the Middle East’s most venerable business leaders — is “forthright.”

His tweets, TV broadcasts and public statements all display a quality of candid outspokenness rare in senior business leadership in the Arab world.

The group has hotel operations in Europe and the US, but the chairman is now looking at Saudi Arabia as a major avenue for expansion, with a multimillion-dollar investment project planned for the Kingdom. The opportunities are mind-boggling, he told Arab News.

“I call Saudi Arabia a continent rather than a country. It has history before Moses and Abraham,” he said.

Al-Habtoor has chosen — in partnership with the Saudi tourism authorities — to back a huge leisure and recreation project outside Riyadh.

It will draw on the successful Habtoor City development in his native Dubai but on a much bigger scale: Up to 7 million square meters of hotels, restaurants, theaters, retail and residential facilities, and — imagine it — lakes and beaches. “You’ll ask me now where does the beach come from in Riyadh. We’ll create it,” he said.

The project is still at the planning stage and subject to final approval from all parties.