The Al Habtoor Group unveiled three new mega projects worth AED 2.01 billion at a press conference on Tuesday December 9, 2014 at the Habtoor Grand Beach Resort & Spa, the Group’s 5-star luxury hotel in the Dubai Marina.
Presentation to media demonstrates the Al Habtoor Group’s commercial success and growth
The announcement came as the Al Habtoor Group delivered a presentation demonstrating the significant commercial progress that has been made across all parts of the Group in the last 24 months.
Khalaf Ahmad Al Habtoor, Founder and Chairman of the Group, confirmed that work is already underway for the following three new large-scale developments in Dubai, which are expected to be operational in the coming two years:
“I am delighted to be unveiling today the plans for these magnificent projects, which will be major new landmarks in Dubai and play a key part in delivering continued growth both for the UAE and for ourselves. As our company motto states, ‘we are growing with the UAE’, and its economic fundamentals support this vision. We have been in business close to 45 years and with projects such as these being added to our portfolio, there is no reason why the next 45 years should not see us enjoy even greater success,” Khalaf Al Habtoor said.
Al Habtoor added that the Group had consistently recorded strong growth. In the past three years he said total revenue was 37 per cent, with an average annual revenue growth rate of 12.5 per cent. Total net worth over the same period jumped 20 per cent, with an average annual net worth growth rate of nearly 7 per cent. The Chairman added that the next five years are expected to see revenue growth jump to 161 per cent, which would equal to an average annual growth of 32 per cent. Anticipated net worth growth for the coming five years is 85 per cent, with an average annual growth rate of 17 per cent.
Al Habtoor Polo Resort & Club
The Al Habtoor Polo Resort & Club, due for completion in 2017 will include a five-star hotel with up to 136 keys in addition to 162 luxury bungalows. In addition, there will be a polo club, a state-of-the-art polo academy, and a riding school with 500 stables.
The exclusive 6 million square foot inland development, located in Dubai, is conveniently adjacent to Emirates Road and the Dubai-Al Ain Road, and within close proximity to Zayed University. The Al Habtoor Polo Resort & Club will have the added benefit of all the amenities that Dubailand offers, including seven theme world’s that will include theme parks, sports venues, eco-tourism, health facilities and a resort. The resort will be designed by well-known British architects WS Atkins & Partners.
The Al Habtoor Polo Resort & Club will also be home to four world-class polo fields, which will help reinforce Dubai’s role on the world polo circuit. The Polo Academy will offer riders of all ages and ability with a wide range of riding disciplines including dressage, riding and show jumping.
Mohammed Al Habtoor, Vice-Chairman and CEO said, “The new Al Habtoor Polo Resort & Club will be a wonderful addition to the range of world class facilities that both visitors and residents can enjoy. We are proud of our heritage in supporting the UAE’s development as an aspirational place to live and vacation and by adding a dedicated resort for polo, the sport of kings, to our portfolio, we are demonstrating our intent to enhance further the quality and variety of our assets and services.”
Metropolitan Sheikh Zayed Road
The Metropolitan Sheikh Zayed Road is a four-star boutique hotel in a prime location. The hotel, forecast for completion in 2016 and will have a total of 334 rooms and suites.
Commenting on the new Metropolitan, the Group’s Chairman Khalaf Ahmed Al Habtoor said, “We are pleased to bring back an old favourite. We started out in the hotel business in 1979 with the Metropolitan Hotel, so it is fitting as we approach our 45th anniversary that we should revive an established brand that is so much part of our heritage. I feel sure that the new Metropolitan will enjoy the same success as the original one and become embedded in the hearts of Dubai’s residents and visitors alike.”
The Metropolitan Sheikh Zayed Road will also incorporate a lobby café, an outdoor courtyard café, an all-day dining restaurant and Don Corleone Italian restaurant. Other facilities include a ballroom with a pre-function room, five meeting rooms with breakout areas, a business centre and rooftop swimming pool and gymnasium. The hotel, designed by Khatib & Alami, will also see the revival of the Red Lion traditional English pub.
Al Habtoor added, “When we closed the Metropolitan, which was our first hotel in Dubai, I promised our regular customers that I would one day revive the Red Lion. Today, I am delivery on that promise. I am not nostalgic, but I am conscious of what our customers want, and I am confident that this new hotel will become a new destination in Dubai.”
Expanding on its real estate business, the Al Habtoor Group is building Oasis Villas, a residential development alongside the Metropolitan Sheikh Zayed Road. Due for completion in 2016, the upmarket residential complex, with extensive landscaping, will consist of 74 units located in the heart of Jumeirah – situated at the junction of Sheikh Zayed Road and Al Thanya Street. The four, five and six bedroom villas will occupy a built up area of 20,947 square metres.
Oasis Villas will include:
The residential complex will provide residents with access to a fully-equipped gymnasium, communal swimming pool, children’s play area and a jogging track.
Khalaf Al Habtoor said, “We are approaching our 45th year with great success. We look forward to creating new landmarks for the city of Dubai. The new projects, announced today, are in addition to our multi-use development, Al Habtoor City on Sheikh Zayed Road. We aim to open our three hotels there in 2015. These are exciting times for the Al Habtoor Group, we are gaining market share across all our businesses and successfully implementing our strategy of collaborating with other world-class brands.”
The Al Habtoor Group has embarked on an aggressive growth plan in recent years. In the past two years alone, the Group opened the five-star Waldorf Astoria Dubai Palm Jumeirah, and is ahead of schedule with the Al Habtoor City project. The multi-use development, on the banks of the Dubai Water Canal, will incorporate three luxury Starwood branded hotels (St. Regis, W hotel, Westin).
In addition, the complex will be home to the region’s first permanent water-themed theatrical production by Franco Dragone Entertainment Group. It will also feature a tennis academy, a European-style Boulevard lined with shops and cafés leading to the Dubai Water Canal. Alongside the hotels, the Al Habtoor Group is building three high-rise residential blocks complete with ultra-luxury penthouses and full facilities.
The Group’s auto unit, Al Habtoor Motors, has also expanded its presence significantly in the region, taking on two new Chinese brands and embarking on new partnership deals, as well as opening new showrooms for established brands like Bentley and Mitsubishi. The Group also announced last week a distribution agreement with global oil giant LUKOIL covering the UAE. In addition, construction has begun on a new flagship Bentley showroom on Sheikh Zayed Road. It will be the first and largest of a limited number of iconic Bentley Motors showrooms to be built in major cities across the world. In October 2014, Al Habtoor Motors opened the world’s largest Mitsubishi facility on the Mussafah - Al Ain Road (21,368 square metres). Later this month, December 2014, Al Habtoor Motors will be opening a new Mitsubishi facility in Al Ain at a cost of AED 40 million (11,257 square metres).
The Chairman added, “In total our investments in the UAE over the past 24 months have amounted to in an excess of AED 15 billion. This shows how much we are growing.”