Al Habtoor Group LLC, the sole dealer of Bentley and Bugatti in the UAE is closer to the IPO it has been considering since 2000, its CEO said in an interview. “We have all the documents ready, all that we need to do is to update all the information” to include revenue from the recently completed Al Habtoor City project, Mohammed Al Habtoor told Bloomberg TV. His father, billionaire Khalaf Al Habtoor, said in December 2012 the Dubai-based investment and contracting company was postponing a share sale because it didn’t see sufficient opportunities to invest the proceeds. Al Habtoor Group, which is spending USD500mn to build a resort near Dubai with a St. Regis Hotel at the center of three polo fields, bought hotels in the U.K., Austria and Hungary. The company is considering further acquisitions in large European cities, as well as developing real estate in Eastern Europe, Al Habtoor said. Demand for hotels in Dubai is stable, he said. “For now it’s not bad. I don’t want to be too optimistic.” The group’s most profitable division, Al Habtoor Motors, acquired almost two-thirds of Mitsubishi Fuso’s distributor in Saudi Arabia, the auto-maker’s truck brand, earlier this year, Al Habtoor said.