Abu Dhabi: The Al Habtoor Group said it is considering large scale investments in Egypt, including a plan to construct an Al Habtoor City at a prime location in Cairo.
Khalaf Ahmad Al Habtoor, the chairman of the group, said in a statement that he is also embarking on a new area of business to produce Hollywood films.
The group said on Tuesday Al Habtoor will soon be heading to Egypt to study potential business opportunities in Egypt.
Al Habtoor said he is conducting feasibility studies in the automotive, real estate and hospitality sectors.
“It is my hope to build Al Habtoor City in a prime location in Cairo. This will be of great benefit to the country’s economy and will also provide thousands of jobs,” he said. “Thousands of families in Egypt would benefit from a project like this, as most of the jobs would be recruited locally.”
Al Habtoor will be accompanied by a team of experts who will be scouting for Egyptian talent in the entertainment industry.
“We are in the pre-production stage of two Hollywood films. We have been working on them for some time and are very confident that they will be well received,” he said. “Egypt is renowned for its film industry, so we will consider Egyptian actors and actresses for various roles.”
He added that he will make new philanthropic announcements supporting American University in Cairo as part of his trip.
In 2010 Al Habtoor donated a Football and Track Stadium in his name at the Cairo campus.
Al Habtoor City, currently under construction in Dubai, employs around 8,000 people. Once complete, the project will help create 3,000 more jobs.
It is a multi-use development incorporating three 5-star hotels including St. Regis, W hotel, Westin, three high-rise luxury residential towers complete with 11 ultra-luxury penthouse apartments, multiple restaurants, bars and shops and a specially choreographed water-themed Franco Dragone Entertainment Group theatrical production.
