The investment group mad an offer for the club earlier this month.
A club spokesperson said: “Zabeel Investments has informed Charlton that the decision not to proceed was taken on the basis that its focus moving forward will be on domestic opportunities in Dubai.
“This combined with the current debate around foreign ownership of football clubs and the worsening economic climate in the UK contributed to the decision of Zabeel Investments to pull out.”
Charlton were ready to sell due to their massive £20million debt.
