Overview
- Al Habtoor Group said Monday it will pursue legal measures against Lebanese authorities and the central bank over an investment dispute.
- The company reports losses exceeding $1.7 billion, blaming measures that blocked access to and transfers of lawfully deposited funds in Lebanese banks.
- The group says it triggered a UAE–Lebanon bilateral treaty cooling-off process in January 2024 and will now seek remedies under international agreements, with no forum yet specified.
- Its Lebanon portfolio spans hotels, retail, leisure and real estate previously valued near $1 billion, including Habtoor Land and a Beirut-area hotel.
- Lebanese officials point to reform proposals sent to parliament, but Al Habtoor says engagement produced no effective remedies and states it remains open to lawful, constructive solutions.