Dubai's Habtoor Group to Open Representative Office in Israel

Major conglomerate's portfolio covers the hospitality, construction, education and automotive sectors

Reuters
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The sun sets behind Burj Khalifa and other high rise buildings, in the Emirati city of Dubai, on September 12, 2020.
The sun sets behind Burj Khalifa and other high rise buildings, in the Emirati city of Dubai, on September 12, 2020. Credit: Karim SAHIB / AF
Reuters

Dubai conglomerate Al Habtoor Group is to open a representative office in Israel, it said on Sunday.

The United Arab Emirates and Israel last week agreed to establish bilateral diplomatic and trade ties, which officials have said would create significant economic opportunities.

The family-owned conglomerate portfolio covers the hospitality, construction, education and automotive sectors.

Habtoor Group, headed by prominent Emirati businessman Khalaf Al Habtoor, is in talks with Israeli airline Israir to launch direct commercial flights to the UAE.

"We are preparing to reveal a few collaborations in the coming days," he said in a statement.

On Wednesday, the Abu Dhabi Media Office said the state-run Abu Dhabi Investment Office  is to open its first office outside the United Arab Emirates in Tel Aviv. A day earlier, Israel's Bank Leumi said it had signed memo,randums of understanding with First Abu Dhabi Bank and Emirates NBD which would help enable the countries to implement economic relations.

On Monday, Hapoalim, Israel's biggest bank, said it had signed a memorandum of understanding with Emirates NDB.

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