Saudi prince eyes Qatar Holding partnership

Saudi prince eyes Qatar Holding partnership

Kingdom Holding and Qatar Holding meet to discuss potential collaborations.

June 20, 2010 2:45 by Samuel Potter

Saudi Arabian Kingdom Holding has revealed it has discussed potential business collaboration with Qatar Holding, reports Gulf News.

Qatar Holding is the prime vehicle for strategic investments by Qatar, and Kingdom Holding is owned and run by Saudi Arabia’s billionaire Prince Al Waleed Bin Talal. Prince Al Waleed held a meeting in Riyadh with Ahmad Al Sayed, the chief executive of Qatar Holding, which is the investment arm of the country’s sovereign wealth fund – the Qatar Investment Authority (QIA).

The meeting was also attended by senior management from Kingdom Holding and media and hospitality Holding Rotana Group, according to the report.

On the agenda of discussions was Prince Al Waleed’s “solid regional presence in various sectors, including real estate, hotels and media, locally, regionally and internationally,” according to a Kingdom Holding statement. “The meeting touched upon local, regional and international economic and investment issues, and future projects,” it said.

In April 2010, Kingdom Holding announced a $847 million (Dh3,108 million) transaction with Qatari Diar, QIA’s real estate arm, involving the Kingdom Holding stake in Fairmont Raffles Holdings International, says the paper.