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2#  Khalaf Al Habtoor  - picture not available
2# Khalaf Al Habtoor

Designation : Founder
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UAE businessman Khalaf Al Habtoor founded the Dubai-based Al Habtoor Group in 1970. Today, four decades later, he requires little introduction. The group employs more than 40,000 staff working across six core industries — real estate, construction, education, hotels, motors and leasing — and is synonymous with some of Dubai’s most iconic projects including Jumeirah’s flagship hotel Burj Al Arab, the sprawling hotel complex Madinat Jumeirah, and his own five-star hotel, the Habtoor Grand in Dubai Marina.

In September 2007, the Australian construction firm, Leighton Holdings, acquired a 45 percent stake in the Al Habtoor Group’s construction arm — Al Habtoor Engineering — for around $707m to further expand its presence in the Middle East region.

Last month, Al Habtoor told CEO Middle East that the firm was considering an initial public offering towards the end of 2010. This he said would ensure that the group continues to grow for generations. “Public companies don’t die. They continue with the new owners, the new shareholders,” he said. “The problem [with family companies] is if the founder dies, for example, the family start fighting and then the name is buried with the founder, which is what I don’t want to see. I want continuation, things to go forward for generation after.”
 

 

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