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FINANCIAL NEWS
Saudi former ambassador sells US ranch for USD49m
04 Jun 2012
(MENAFN) Saudi Arabia’s former US ambassador, Prince Bandar bin Sultan, gave up his ranch in Aspen, Colorado for USD49 million, Aspen Daily News reported.
The prince sold his Hala Ranch, a 56,000 sq ft home set in 95-acres, to Starwood Mountain Ranch, a local gated community, marking the state’s biggest ever property transaction, the local media said.
Prince Bandar, who served as Saudi Arabia’s ambassador to the US from 1983 to 2005, bought the land in 1989 and built the main residence in 1991.
The prince first put the ranch on the market in 2006 for USD135 million but was withdrawn 16 months later.
The former ambassador later sold two of his other Starwood homes for a combined USD49 million in 2007.
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