Prince Al-Waleed invests 1.5 billion in Lebanon
The Chairman of Kingdom Holding Company said major projects include banking, tourism, and media.
June 23, 2010 10:50 by Rasha Reslan
Saudi Prince Al-Waleed Bin Talal, in Beirut yesterday for the opening of the Four Seasons Hotel, announced his commitment to support Lebanon’s economy in the coming years, with investments worth $1.5 billion, the Daily Star reported Wednesday.
Talal, Chairman of the Kingdom Holding Company, KHC, said his investments in Lebanon’s tourism sector amount to a half billion dollars. Combined with investments in media and banking, his projects total $1.5 billion, he explained. KHC is an investment company with a diversified portfolio that includes a number of hotels and hotel management companies, including a large stake in the administration of the Four Seasons Hotels, the report added.
Also present at the opening were Lebanon’s President Michel Sleiman, Prime Minister Saad Hariri and Speaker Nabih Berri.