Al Habtoor Group in 2026: a AED 5bn Dubai tower, and a $1.7bn Lebanon loss
Editorial
Al Habtoor Group spent 2026 doubling down on the UAE and walking away from Lebanon: a AED 5 billion tower announced in Dubai in April, and a $1.7 billion loss it says it suffered in Lebanon before closing there in January.
Sources: Khaleej Times. The Lebanon figure is the group's claim.
The new tower
On 9 April 2026 Al Habtoor Group announced a commercial tower within Al Habtoor City on Sheikh Zayed Road, valued at about AED 5 billion. It described the tower as the first in a series of developments it will unveil across Dubai and Abu Dhabi as part of its expansion strategy.
Founding chairman Khalaf Ahmad Al Habtoor said the decision reflects deep confidence in the UAE, and in Dubai in particular, which he described as a country with security, stability and a strong, resilient economy.
The Lebanon exit
On 28 January 2026 the group announced that it would close all its operations in Lebanon, including its hotels, and end all employees' contracts. It said Lebanese authorities and the central bank had taken measures that blocked access to deposited funds and caused severe and sustained harm, with losses of $1.7 billion. It said it would keep pursuing its claims under international agreements and had earlier filed criminal and civil complaints in Lebanon and abroad. Lebanon has been in an economic crisis since 2019.
- Jan 2026 Group announces closure of all Lebanon operations and legal action over $1.7bn of losses.
- 9 Apr 2026 AED 5bn commercial tower announced in Al Habtoor City, Dubai.
- Later in 2026 Group says more projects will be unveiled in Dubai and Abu Dhabi.