The board of Al Habtoor Group, one of Dubai's largest business conglomerates, has approved the complete sale of its remaining assets and investments in Lebanon, the company confirmed. The portfolio includes hotels, commercial and residential properties, and holdings spanning hospitality, retail, real estate, leisure and banking-related activities.

Al Habtoor Group said losses from its Lebanese investments have now exceeded $1.7 billion. The company ceased operations in Lebanon in January this year and ended its local workforce there, before appointing law firm White & Case in February to pursue international arbitration over the dispute.

The group attributed the decision to prolonged instability in Lebanon, ongoing investment disputes, and a deep economic crisis that the World Bank has described as one of the most severe in modern history, with the Lebanese economy projected to contract by 6.4 per cent in 2026.

The Dubai-based company said it will continue pursuing arbitration against the Lebanese state under the UAE-Lebanon bilateral investment treaty, separate from the asset sale. Executives described the move as part of a broader strategic shift toward markets offering greater long-term stability, investment certainty and sustainable growth opportunities. The divestment process will proceed asset by asset through a structured commercial sale, the company said.