Emirati businessman Khalaf Al Habtoor has announced that he will "not currently participate" in any investment projects inside Syria, whether in partnership with government agencies or through independent investments, stressing that his commitment at this stage is "limited to humanitarian and charitable support."
Al-Habtoor's statement came in an interview with CNBC on Thursday , June 11, where he stressed that "the priority should be for Syrians in rebuilding their country's economy, and then for the Arab investor."
Despite his investment reservations, Al Habtoor stressed his readiness to cooperate with Syrians "whenever they want", noting that Syrians have a "business mindset and know how to run business", which he considered a positive factor for the future.
Cautious Investment Reading
According to observers, this position reflects an accurate and cautious reading of the nature of the complex risks that still surround the investment environment in Syria, whether at the economic, legal or political level, as international sanctions continue to be a direct pressure factor on the movement of foreign capital, while market complexities and fluctuations in financial policies impose an unstable environment that makes large Gulf investors hesitate before injecting any long-term investments.
Experts say Al Habtoor's reservation reflects an awareness of the need for a clear legislative framework, financial stability, and a more stable and well-established economic path before considering major projects that could be exposed to uncalculated risks.
On the other hand, his humanitarian stances were widely welcomed in Syrian circles, especially after his recent initiative, which included providing 100,000 seats in support of the educational environment and improving the conditions of students in public schools.
This step was considered proof that Al Habtoor clearly separates commercial investment, which needs a safe environment, from humanitarian work, which he sees as a moral duty that is not linked to profit and loss calculations, and Syrian sources considered it a positive message that reflects his continued interest in the Syrian affairs despite his investment reservations, and an affirmation that supporting the Syrian people can continue even in the most difficult circumstances.
Previous Memorandum of Understanding between Tourism and Al Habtoor Group
Al-Habtoor visited Damascus in November 2025 as part of an economic delegation to explore opportunities for cooperation, where he met with President Ahmed al-Shara, before later announcing significant progress in the preparation of a huge investment project in the capital in coordination with the Syrian government.
"The Arab and international movement towards Syria reflects a real hope for a better future," he wrote on Facebook at the time, stressing that his group has already begun practical steps in the automotive sector by opening showrooms and service centers.
In September 2025, Al Habtoor Group signed a memorandum of understanding with the Syrian Investment Commission to implement a major tourism and residential project on the Syrian coast, extending over an area of 12 kilometers in Latakia, in the presence of the Ministers of Finance and Tourism, and Al Habtoor confirmed at the time that his visit was "not only for investment, but also to think about the future of the great Syrian people."
Khalaf Ahmed Al Habtoor is the founder and chairman of Al Habtoor Group, which started in 1970 as a contracting company before becoming one of the largest multi-sector economic groups in the Gulf, with investments spanning real estate, hospitality, automotive, education, insurance, and publishing. He has also served as a member of the Federal National Council and the Dubai Chamber of Commerce and Industry, and has a prominent presence in charitable initiatives and support for education in the Arab world.
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