Al Habtoor Group has announced its plans to open an office in Budapest, Hungary.
The group hopes the opening will help expand its European operations, scout for new investments and reach more markets.
Founder, Khalaf Ahmad Al Habtoor, argued the European market is a sound investment for the group, hailing its ease of doing business, risk-to-reward ratios and strong economies.
He said: “I am delighted to announce our expanding presence in Europe, with the upcoming new regional office in Budapest.
“We have been very successful with our hotels and commercial properties here — which are prime and heritage assets — and look forward to upscaling our operations with other investments in the future.
“The less-explored markets in Europe are now gaining momentum, offering a competitive edge, an attractive investment climate and higher yield possibilities for foreign players.”
The conglomerate works across a number of industries, including real estate, education and hospitality.
Its hospitality division currently has a portfolio of 14 hotels, seven of which are in Dubai.
These include the Habtoor Grand Resort, Waldorf Astoria Dubai Palm Jumeirah, Habtoor Palace, LXR Hotels & Resorts, V Hotel, Curio Collection by Hilton, Hilton Dubai Al Habtoor City, Metropolitan Hotel Dubai and Al Habtoor Polo Resort.