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FINANCIAL NEWS
Alwaleed eyes $1.5b investments in Lebanon
24 Jun 2010
(MENAFN) Saudi Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company (KHC), has pledged to support the Lebanese economy during the coming years and said that his total investments in Lebanon will amount to $1.5 billion, Reuters reported.
KHC is one of world?s largest and most diversified private investment companies, with holdings in a large number of Saudi Arabian, Middle Eastern and International companies. In particular, KHC is a leading hotel investor, with a portfolio of hotels and majority interests in international hotel management companies.
KHC owns a 47.5 percent in the administration of the Four Seasons Hotels which is one of the world?s leading managers of luxury hotels and resorts with a portfolio of 74 luxury hotels and resort properties containing 18,090 guest rooms as of March 2007.
These properties are marketed under the brand name Four Seasons in 30 countries.
KHC also has a stake in Movenpick hotels and resorts which opened in Lebanon during 2002 as well.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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