Alwaleed’s investments in Canada focus of talks

03/11/2014 06:53 AST

Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), received at his office in Riyadh Simon Kennedy, Canadian deputy minister of International Trade, and an accompanying delegation.

The delegation included Thomas Macdonald, Canadian Ambassador to Saudi Arabia and Jordan Reeves, commercial counsellor.

Nahla Nasser Alanbar, private executive Assistant to the chairman and Fahad bin Saad bin Nafel, executive assistant to the prince, attended the meeting.

The talks began as Prince Alwaleed cordially received Kennedy who thanked the prince for his reception.

During the talks, the two discussed a number of economic and investment issues, including the Prince’s investments in Canada through KHC.

Kingdom Holding Company is the largest investor in Canada through Four Seasons Hotels and Resorts and Fairmont Raffles Hotels International (FRHI).

Kennedy also said that his government warmly welcomes the prince to further invest in Canada, and explore investment opportunities there.

Kennedy also expressed his hope that the prince’s visit will further strengthen economic bilateral relations between Saudi Arabia and Canada.

Kingdom Holding Company holds a 47.5 percent stake in the Four Seasons, which is co-owned by Bill Gates’ Cascade with a 47.5 percent stake, and 5 percent is owned by Isadore Sharp. Moreover, Kingdom Holding owns a 35 percent interest in Fairmont Raffles Holdings International (FRHI) together with Qatar Investment Authority (QIA).

In addition, QD Hotel Property Investment Limited (QDHP) an affiliate of QIA, has undertaken to provide FRHI with a number of future management contracts for hotels that will be branded either Fairmont, Raffles or Swissotel.

Moreover, Prince Alwaleed’s investment in the banking sector in Canada via KHC is through Citigroup.

Arab News