SULTAN AL HABTOOR LAUDS INVESTMENT SCENARIO IN PAKISTAN
A year ago, Dubai Islamic Bank, touched down the shores of Arabian Sea.
Aug 14 - 20, 2006
Pakistan offers one of the best investment opportunities in the region under the dynamic leadership of General Pervez Musharraf and Prime Minister Shaukat Aziz". This was stated by Sultan Al Habtoor, Chairman Al Habtoor Group while talking informally to leaders of the corporate world and financial sectors, gathered at a dinner hosted in his honor in Karachi by Saad Zaman, CEO Dubai Islamic Bank
Al Habtoor Group - a known name in the UAE business community has grown tremendously in the past thirty years, and while best known for construction, it is now also internationally recognized through hotels, real estate, education, insurance, automobile dealership and publishing. It is one of the UAE's most respected and successful business corporations that also operate in the Middle East and the UK.
Commenting on the investment scenario in Pakistan, Sultan Al Habtoor said: "Investment from abroad and even within the country can only progress and prosper if continuity of policies is guaranteed both at the micro and macro levels. Short term benefits offered by any economy today, are the biggest impediment in the way of investments that are long term oriented. It is only because of a visionary leadership and close cut policies that investment comes into a particular country."
Earlier, Saad Zaman, the host, introduced Sultan Al Habtoor to the gathering and said, "Dubai Islamic Bank is proud to play the role of a catalyst with regards to business opportunities in Pakistan. In an exponentially growing and investment friendly business environment, the future of Pakistan appears to be very bright." In this regard, he mentioned names of industrial giants as Dubai Ports, Nakheel LLC and Emaar.
A year ago, Dubai Islamic Bank, touched down the shores of Arabian Sea. The bank has adapted to the local conditions very well and is expanding its network exhaustively. It currently operates in Karachi, Lahore Faisalabad and plans to expand its network by investing another 100 million in the country. This phenomenal performance by the bank gives high hopes to the future of the Islamic Banking sector in the country.
With the promising start made by Dubai Islamic Bank in Pakistan and the way it has maintained its international standards, one can foresee a better future of Islamic banking in the country. Dubai Islamic Bank will flourish in the Pakistani market as it has in other parts of the world. This, in turn, would create employment in the country, in addition to the added facilities to customers.
Al Habtoor Group was formed in 1970; the Al Habtoor Group has since grown with the UAE. The Group's growth has paralleled the development of the country and it certainly has grown with the same spirit of optimism.
The development plans of the Al Habtoor Group to enter the new Millennium are equally broad and well thought out, and are all related to industries and sectors where the Group has experienced past success. In the last few years, AI Habtoor Group has invested hundreds of millions of dollars in developing new projects and will continue to do so in the future.
The Group is involved in many landmark projects within the Emirates. These include world's first seven star hotels - the imposing Burj Al Arab that rises to a staggering 321 meters on a man made island in the Gulf. Adding to the portfolio of excellence are the Jumeirah Beach Resort and the architecturally adventurous Concourse Building of Dubai International Airport, just to mention a few.
A new super deluxe residential development, Metropolitan Suites, will be completed in July this year. It will be located on Sheikh Zayed highway next to the existing Metropolitan Hotel. Other major projects for the construction in the Emirates and abroad are underway. The investment arm of the Group is actively seeking investment opportunities locally and globally, with the aim of turning the Group into a truly multi-national company that can compete for business anywhere in the world.
One of the reasons for the success of the company is the cosmopolitan nature of the country and its people. The Group has gained a lot of experience from its skilled professional work force, which is drawn from many countries around the world including Britain , the USA, India, Japan, Europe and the nations of the Arab world and Africa This is clearly demonstrated by the Group's headquarters staff, where the team includes people of many different nationalities. Today the company employs more than 24,300 people throughout the organization.