Prince Alwaleed Visits Seychelles & Meets with President
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Prince Alwaleed Visits Seychelles & Meets with President
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Category: Africa Indian Ocean - Seychelles
This is a press release selected by our editorial committee and published online for free on 2009-06-02
Prince’s Investments in Seychelles include Ownership of Raffles Valued at US$137 Million & Management of Four Seasons
HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) was on a visit to the Republic of Seychelles. The Prince Alwaleed was accompanied by HH Princess Ameerah Altaweel Vice Chairman of Alwaleed bin Talal Foundation and a delegation from Kingdom Holding.
The Prince was warmly welcomed by the President and people of the Republic of Seychelles and met with His Excellency President James Michel. The Prince and the President discussed social and economic issues, and the bi-lateral relations between the Kingdom of Saudi Arabia and Seychelles. The discussions also revolved around Prince Alwaleed's investments in the country in the hotel sector and further investment opportunities in Seychelles.
Also during the visit the Prince and the accompanying delegation toured the Raffles Seychelles Resort and Residences construction site on the northeast tip of Praslin Island, the second largest island in the Seychelles. The Raffles Seychelles Resort and Residences, the proposed development is will be a 90-villa luxury resort hotel and 17 private residential villas. Kingdom Holding through Kingdom Hotel Investments (KHI) Chaired by Prince Alwaleed, had acquired the hotel in July 2007 for US$137 million.
Moreover, Kingdom Holding’s other investments in the Seychelles is through the management of Four Seasons Resort Seychelles. The Resort has 62 tree house villas, five suites and 28 Private Residences. The Four Seasons in which Kingdom Holding holds a 47.5% stake and is co-owned by Bill Gates’ Cascade in which the company holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp.
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