Kingdom Holding Co., the investment firm of Saudi Arabian billionaire Prince Alwaleed Bin Talal Al Saud, is in talks with banks to cut borrowing costs on a $550 million loan, four people with knowledge of the matter said.
Saudi Arabia’s stock market, the Arab world’s largest bourse, is one step away from gaining approval to allow direct foreign investment into equities, according to two people with knowledge of the matter.
Kingdom Tower, the Saudi skyscraper set to be the world’s tallest building, will probably have construction funding in place by the end of the first half, the developer’s chief executive officer said today.
The flash of purple abayas at a conference in Saudi Arabia’s second-largest city, Jeddah, was more than a fashion statement. It’s a sign of the changes Jeddah is embracing as King Abdullah slowly loosens restrictions on women in his conservative land.
After losing billions on U.S. stocks beginning in 2000, Alwaleed Bin Talal says he may become richer than the Oracle of Omaha. His strategy: holding an IPO for his luxury hotels and building the world’s tallest tower in his homeland.
Prince Alwaleed Bin Talal sits under an almost full moon near a campfire at his rustic retreat in Riyadh, Saudi Arabia. He’s surrounded by a zoo with zebras and giraffes, an artificial lake and a lodge that has an indoor pool, saunas and steam rooms. Three hooded falcons are perched on stands in front of him.
A five-month rally by Kingdom Holding Co. is giving lift to the investment record of Prince Alwaleed bin Talal Al Saud, the world’s 18th-richest person and self-proclaimed “Warren Buffett of Saudi Arabia.”
Kingdom Holding Co ., the investment company controlled by Saudi billionaire Prince Alwaleed Bin Talal, and its hotels unit may sell minority stakes held in hotels as part of a plan to focus on higher-earning properties.
Saudi Prince Alwaleed bin Talal plans to sell a stake in media company Rotana Holding to the public within two years as the billionaire prince expands his entertainment, music and news business in the Middle East.