Khalaf Al Habtoor, CEO and president of Al Habtoor group, says he’s made an $80m purchase of a five-star hotel in Hungary, but he’s been unwilling to name it. The builder of Burj Al Arab says Al Habtoor would like to have a bigger and more active role in Europe’s real estate and investment market, and that the acquisition is part of that strategy. In order to further his interests in Hungary, he’s planning to invite a group of Hungarian businessmen to Dubai on a trade mission. Last year, the Four Seasons hotel in Budapest was bought by State General Reserve Fund, the sovereign wealth fund of Oman.
