# Saudi prince to float hotels investment in Dubai



## DubaiDream (Jan 5, 2005)

February 1: Prince Alwaleed bin Talal of Saudi Arabia, whose investments include large stakes in Citigroup and News Corp, is floating his Kingdom Hotel Investments business simultaneously in London and Dubai. The business could be worth $2bn and would probably be the largest Middle Eastern company to float on the LSE. We expect many more to follow this year and it is interesting, if not hugely surprising, that they should choose London over New York. The main listing will be in Dubai, with global depository shares listed on the LSE. The banks on the IPO are Morgan Stanley and Deutsche Bank. Kingdom owns interests in 26 properties in 13 countries, including 15 operating hotels and resorts and 11 hotels and resorts currently under construction or in the initial stages of development.


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## docc (Jun 30, 2004)

Can i have 0.1% of his wealth please


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## waaz1 (Aug 10, 2005)

He also just bought out Fairmont with the Los Angeles based colony group, which also owns raffles hotels.


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## BinDubai (Aug 31, 2004)

yeah it was a massive deal worth $5Bn he got 2/3 and the other company got the remaining 1/3 :O


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## docc (Jun 30, 2004)

Isn't the Fairmont on SZR owned my a Shaikh from Abu Dhabhi?


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## shak (Mar 15, 2005)

Are all hotels halal owned by the company, by which mean they don't sell alcohol?


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